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Is there an inverted U-shaped curve? Empirical analysis of the Environmental Kuznets Curve in Singapore

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  • Manuel A. Zambrano-Monserrate
  • Christopher Carvajal-Lara
  • Roberto Urgiles-Sanchez

Abstract

This paper provides empirical information based on the existence of the Environmental Kuznets Curve (EKC) hypothesis for Singapore by applying the autoregressive distributed lag bounds testing approach for the period of 1971–2011. Singapore is a country that has experienced an incredible economic development in the last decades and its contamination has been low in recent years. This hypothesis was tested, obtaining positive results that support it, along with this the Granger causality test showed that the causal variables of CO2 emissions are the GDP per capita, energy consumption, population density, financial development and trade openness. Empirical results confirm the evidence of EKC hypothesis in both the short-run and long-run. The results suggest that the financial development and trade openness help to reduce the CO2 emissions. This study hopes to sustain that the existing environmental regulations in the country should continue applying to keep reducing environmental degradation.

Suggested Citation

  • Manuel A. Zambrano-Monserrate & Christopher Carvajal-Lara & Roberto Urgiles-Sanchez, 2018. "Is there an inverted U-shaped curve? Empirical analysis of the Environmental Kuznets Curve in Singapore," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 25(1-2), pages 145-162, January.
    • Handle: RePEc:taf:raaexx:v:25:y:2018:i:1-2:p:145-162
    DOI: 10.1080/16081625.2016.1245625
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    Citations

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    Cited by:

    1. Oruj Gasimli & Ihtisham ul Haq & Sisira Kumara Naradda Gamage & Fadi Shihadeh & Prasanna Sisira Kumara Rajapakshe & Muhammad Shafiq, 2019. "Energy, Trade, Urbanization and Environmental Degradation Nexus in Sri Lanka: Bounds Testing Approach," Energies, MDPI, vol. 12(9), pages 1-16, April.
    2. Alexander Bass & Dmitry Burakov & Max Freidin, 2019. "Does Financial Development Matter for Environmental Kuznets Curve in Russia? Evidence from the Autoregressive Distributed Lag Bounds Test Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 9(4), pages 334-341.
    3. Jie Zhang & Majed Alharthi & Qaiser Abbas & Weiqing Li & Muhammad Mohsin & Khan Jamal & Farhad Taghizadeh-Hesary, 2020. "Reassessing the Environmental Kuznets Curve in Relation to Energy Efficiency and Economic Growth," Sustainability, MDPI, vol. 12(20), pages 1-21, October.
    4. Mihaela Sterpu & Georgeta Soava & Anca Mehedintu, 2018. "Impact of Economic Growth and Energy Consumption on Greenhouse Gas Emissions: Testing Environmental Curves Hypotheses on EU Countries," Sustainability, MDPI, vol. 10(9), pages 1-14, September.
    5. Daniela Nicoleta Sahlian & Adriana Florina Popa & Raluca Florentina Creţu, 2021. "Does the Increase in Renewable Energy Influence GDP Growth? An EU-28 Analysis," Energies, MDPI, vol. 14(16), pages 1-16, August.
    6. Zambrano-Monserrate, Manuel A. & Silva-Zambrano, Carlos A. & Davalos-Penafiel, Jose L. & Zambrano-Monserrate, Andrea & Ruano, Maria Alejandra, 2018. "Testing environmental Kuznets curve hypothesis in Peru: The role of renewable electricity, petroleum and dry natural gas," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 4170-4178.
    7. Moutinho, Victor & Varum, Celeste & Madaleno, Mara, 2017. "How economic growth affects emissions? An investigation of the environmental Kuznets curve in Portuguese and Spanish economic activity sectors," Energy Policy, Elsevier, vol. 106(C), pages 326-344.
    8. Kebede, Shemelis, 2017. "Modeling Energy Consumption, CO2 Emissions and Economic Growth Nexus in Ethiopia: Evidence from ARDL Approach to Cointegration and Causality Analysis," MPRA Paper 83000, University Library of Munich, Germany.
    9. Ellen Thio & MeiXuen Tan & Liang Li & Muhammad Salman & Xingle Long & Huaping Sun & Bangzhu Zhu, 2022. "The estimation of influencing factors for carbon emissions based on EKC hypothesis and STIRPAT model: Evidence from top 10 countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(9), pages 11226-11259, September.
    10. Yuang He & Xiaodan Gao & Yinhui Wang, 2022. "Sustainable Financial Development: Does It Matter for Greenhouse Gas Emissions?," Sustainability, MDPI, vol. 14(9), pages 1-23, April.
    11. Anh-Tu Nguyen & Shih-Hao Lu & Phuc Thanh Thien Nguyen, 2021. "Validating and Forecasting Carbon Emissions in the Framework of the Environmental Kuznets Curve: The Case of Vietnam," Energies, MDPI, vol. 14(11), pages 1-38, May.
    12. Abdelmohsen A. Nassani & Muhammad Moinuddin Qazi Abro & Rubeena Batool & Syed Haider Ali Shah & Shabir Hyder & Khalid Zaman, 2021. "Go‐for‐green policies: The role of finance and trade for sustainable development," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1409-1423, January.
    13. Jahanger, Atif & Yu, Yang & Hossain, Mohammad Razib & Murshed, Muntasir & Balsalobre-Lorente, Daniel & Khan, Uzma, 2022. "Going away or going green in NAFTA nations? Linking natural resources, energy utilization, and environmental sustainability through the lens of the EKC hypothesis," Resources Policy, Elsevier, vol. 79(C).
    14. Sakiru Adebola Solarin, 2019. "Modelling the relationship between financing by Islamic banking system and environmental quality: evidence from bootstrap autoregressive distributive lag with Fourier terms," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(6), pages 2867-2884, November.

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