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An Empirical Study of the Relationships between CO2 Emissions, Economic Growth and Openness

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Author Info

  • Choi, Eunho

    ()
    (Korea University)

  • Heshmati, Almas

    ()
    (Jönköping University, Sogang University)

  • Cho, Yongsung

    ()
    (Korea University)

Abstract

This paper investigates the existence of the environmental Kuznets curve (EKC) for carbon dioxide (CO2) emissions and its causal relationships with economic growth and openness by using time series data (1971-2006) from China (an emerging market), Korea (a newly industrialized country), and Japan (a developed country). The sample countries span a whole range of development stages from industrialized to newly industrialized and emerging market economies. The environmental consequences according to openness and economic growth do not show uniform results across the countries. Depending on the national characteristics, the estimated EKC show different temporal patterns. China shows an N-shaped curve while Japan has a U-shaped curve. Such dissimilarities are also found in the relationship between CO2 emissions and openness. In the case of Korea and Japan it represents an inverted U-shaped curve, while China shows a U-shaped curve. We also analyze the dynamic relationships between the variables by adopting a vector auto regression or a vector error correction model. These models through the impulse response functions allow for analysis of the causal variable's influence on the dynamic response of emission variables and it adopts a variance decomposition to explain the magnitude of the forecast error variance determined by the shocks to each of the causal variables over time. Results show evidence of large heterogeneity among the countries and variables impacts.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5304.

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Length: 29 pages
Date of creation: Nov 2010
Date of revision:
Handle: RePEc:iza:izadps:dp5304

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Keywords: economic growth; environmental Kuznets curve (EKC); carbon dioxide (CO2); free trade; development;

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Cited by:
  1. Zaman, Rubaiya, 2012. "CO2 Emissions, Trade Openness and GDP Percapita : Bangladesh Perspective," MPRA Paper 48515, University Library of Munich, Germany.
  2. Betzer, André & Doumet, Markus & Rinne, Ulf, 2011. "How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster," IZA Discussion Papers 5896, Institute for the Study of Labor (IZA).
  3. Shahbaz, Muhammad, 2011. "Does financial instability increase environmental pollution in Pakistan?," MPRA Paper 31530, University Library of Munich, Germany, revised 27 Mar 2011.

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