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Driving Factors of Carbon Dioxide Emissions and the Impact from Kyoto Protocol

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  • Nicole Grunewald

    ()
    (Georg-August-Universität Göttingen / Gemany)

  • Inmaculada Martínez-Zarzoso

    ()
    (Georg-August-Universität Göttingen / Germany)

Abstract

In the last two decades increasing attention has been paid to the relationship between environmental quality and economic development. According to the Environmental Kuznets Curve (EKC) hypothesis this relationship may be described by an inverted-U curve. However, recent evidence rejects the EKC hypothesis for GHG emissions in a broad sense. In this paper we aim to investigate whether the EKC behavior for CO2 emissions could be proved on the behalf of institutional regulations. We analyze the driving factors of Carbon Dioxide Emissions (CO2) for developed and developing countries to test the theory of the EKC in the context of environmental regulations using a static and dynamic panel data model. We consider the Kyoto Protocol and the Clean Development Mechanism (CDM). The results from this study indicate that the Kyoto obligations have a reducing effect on CO2 emissions in developed and developing countries and highlight the differences behind the driving forces of CO2 emissions for those two groups of countries. Finally, it is still too early to predict accurately the expected effects of CDM projects on emissions.

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Bibliographic Info

Paper provided by Ibero-America Institute for Economic Research in its series Ibero America Institute for Econ. Research (IAI) Discussion Papers with number 190.

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Length: 31 pages
Date of creation: 05 May 2009
Date of revision:
Handle: RePEc:got:iaidps:190

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Keywords: Environmental Kuznets Curve; Kyoto Protocol; CDM;

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Cited by:
  1. Michael Funke & Yu-Fu Chen, 2009. "Booms, Recessions and Financial Turmoil: A Fresh Look at Investment Decisions under Cyclical Uncertainty," Quantitative Macroeconomics Working Papers, Hamburg University, Department of Economics 20908, Hamburg University, Department of Economics.
  2. WenShwo Fang & Stephen M. Miller, 2012. "The effect of ESCOs on carbon dioxide emissions," Working papers, University of Connecticut, Department of Economics 2012-14, University of Connecticut, Department of Economics.
  3. Aichele, Rahel & Felbermayr, Gabriel, 2013. "The Effect of the Kyoto Protocol on Carbon Emissions," Munich Reprints in Economics, University of Munich, Department of Economics 20171, University of Munich, Department of Economics.
  4. Chen, Yu-Fu & Funke, Michael, 2009. "Booms, Recessions and Financial Turmoil: A Fresh Look at Investment Decisions under Cyclical Uncertainty," SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) 2009-31, Scottish Institute for Research in Economics (SIRE).
  5. Rahel Aichele & Gabriel Felbermayr, 2011. "What a Difference Kyoto Made: Evidence from Instrumental Variables Estimation," Ifo Working Paper Series Ifo Working Paper No. 102, Ifo Institute for Economic Research at the University of Munich.
  6. Spyros Arvanitis & Marius Ley & Tobias Stucki & Martin Woerter & Thomas Bolli & Christian Soltmann, 2012. "Potenziale für Cleantech in der Schweizer Industrie," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, KOF Swiss Economic Institute, ETH Zurich, vol. 6(1), pages 73-92, March.
  7. Iwata, Hiroki & Okada, Keisuke, 2010. "Greenhouse gas emissions and the role of the Kyoto Protocol," MPRA Paper 22299, University Library of Munich, Germany.
  8. Rahel Aichele, 2013. "Trade, Climate Policy and Carbon Leakage - Theory and Empirical Evidence," ifo Beiträge zur Wirtschaftsforschung, Ifo Institute for Economic Research at the University of Munich, Ifo Institute for Economic Research at the University of Munich, number 49, 8.

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