چکیده:
This paper examines the non-linear relationship between CO2 emissions and economic development using an innovative dynamic panel threshold technique. The sample consists of 35 developed countries over the period 2003-2010. The empirical results indicate that there is a threshold effect in the relationship between economic growth and pollutant emissions as suggested by the environmental Kuznets curve (EKC). In particular, at the early stage of economic development below the estimated threshold value, more growth deteriorates the environmental problems. However, after this threshold value further growth serves as a solution to the environmental problems. Accordingly, promoting economic growth and becoming rich in the long run, is necessary to solve the environmental problems arising from greenhouse gas (GHG) emissions. In the short run and in the early stage of economic growth, focus on investments in environmentally friendly technology and on the use of renewable energy is necessary for mitigating the pollution effects of economic progress.
خلاصه ماشینی:
"At higher levels of development, structural change towards information-intensive industries and services, coupled with increased environmental awareness, enforcement of environmental regulations, better technology and higher environmental expenditures, results in levelling off and gradual decline of environmental degradation and therefore environmental quality will improve (Dinda, 2004; Stern, 2004; Ibrahim and Law, 2014).
A large number of econometric studies have used the following reduced form model to test the EKC: / (1) Where / is environmental indicators, / is income and /relates to other relevant control variables.
The model, based on threshold regression, takes the following form: / (2) Where / is the country-specific fixed effect, / is the time effect, the growth rate of GDP per capita (GDPPG) is the threshold variable used to split the sample into two regimes and / is the unknown threshold parameter.
Data and variables Our empirical application of the dynamic panel threshold model to the CO2 emissions and economic growth nexus is based on a balanced panel dataset of 35 advanced countries over the period 2003–2010.
Empirical results Table 3 shows the results of estimating Equation (2) using the dynamic panel threshold model to the analysis of the impact of real GDP per capita growth on CO2 emissions in advanced economies.
These findings provide empirical support for the presence of the EKC suggesting when economic growth passes a threshold point, it serves as a solution to the environmental problem as GHG emissions tend to decline.
Conclusion This study provided new evidence on the non-linear relationship between CO2 emissions and economic growth using data from 35 developed countries covering 2001 through 2010."