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Industrialization and CO2 Emissions: Accounting for the role of Renewable Energy in OIC Member States

Author

Listed:
  • Raufhon Salahodjaev

    (AKFA University, Tashkent, Uzbekistan; & ERGO Analytics, Tashkent, Uzbekistan)

  • Bekhzod Djalilov

    (Tashkent Metropolitan University, Tashkent, Uzbekistan)

  • Islomjon Kobiljonov

    (Tashkent Metropolitan University, Tashkent, Uzbekistan.)

  • Shukhrat Otajonov

    (Department for Formation and Monitoring of State Programs of Scientific and Innovative Activity, Ministry of Innovative Development of the Republic of Uzbekistan, Uzbekistan)

  • Nargiza Kasimova

    (Tashkent Institute of Finance, Tashkent, Uzbekistan)

Abstract

The aim of this study is to assess the relationship between industrialization and CO2 emissions in a sample of OIC member states over the period 1995-2020. The study adopts panel data methods such as two-step system GMM estimator to account for the problems of endogeneity and simultaneity. The empirical results suggest that industrializing has positive effect on CO2 emissions. In contrast, renewable energy and financial development has pollution inhibiting impact on CO2 emissions. Our results also show that GDP and ICT usage leads to a rise in CO2 emissions. The policy implications of the study are discussed.

Suggested Citation

  • Raufhon Salahodjaev & Bekhzod Djalilov & Islomjon Kobiljonov & Shukhrat Otajonov & Nargiza Kasimova, 2023. "Industrialization and CO2 Emissions: Accounting for the role of Renewable Energy in OIC Member States," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 37-43, September.
    • Handle: RePEc:eco:journ2:2023-05-6
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    References listed on IDEAS

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    More about this item

    Keywords

    Industrialization; Renewable Energy; CO2 Emissions; Human Capital;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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