IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v206y2020ics0360544220311555.html
   My bibliography  Save this article

Do country risks influence carbon dioxide emissions? A non-linear perspective

Author

Listed:
  • Zhang, Wenwen
  • Chiu, Yi-Bin

Abstract

This study explores the non-linear effects of real income, energy use, and country risks on carbon dioxide (CO2) emissions in a panel of 111 countries from 1985 to 2014. By applying the panel smooth transition regression model, we find that real income, energy use, and country risks have different impacts on CO2 emissions when using country risks as thresholds. As to the full sample, the results show an inverted U-shaped relationship between CO2 emissions and economic risk, and that the financial and political risk indices have monotonically increasing effects on CO2 emissions. As country risks decrease, the positive effects of real income and energy use on CO2 emissions are first large and then become small. Moreover, with country risks changing, low-income countries have larger sensitivities to CO2 emissions.

Suggested Citation

  • Zhang, Wenwen & Chiu, Yi-Bin, 2020. "Do country risks influence carbon dioxide emissions? A non-linear perspective," Energy, Elsevier, vol. 206(C).
    • Handle: RePEc:eee:energy:v:206:y:2020:i:c:s0360544220311555
    DOI: 10.1016/j.energy.2020.118048
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544220311555
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2020.118048?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Esso, Loesse Jacques & Keho, Yaya, 2016. "Energy consumption, economic growth and carbon emissions: Cointegration and causality evidence from selected African countries," Energy, Elsevier, vol. 114(C), pages 492-497.
    2. Shahbaz, Muhammad & Shahzad, Syed Jawad Hussain & Ahmad, Nawaz & Alam, Shaista, 2016. "Financial development and environmental quality: The way forward," Energy Policy, Elsevier, vol. 98(C), pages 353-364.
    3. Fouquau, Julien & Hurlin, Christophe & Rabaud, Isabelle, 2008. "The Feldstein-Horioka puzzle: A panel smooth transition regression approach," Economic Modelling, Elsevier, vol. 25(2), pages 284-299, March.
    4. Gilbert Colletaz & Christophe Hurlin, 2006. "Threshold Effects in the Public Capital Productivity: an International Panel Smooth Transition Approach," Post-Print halshs-00257487, HAL.
    5. Tamazian, Artur & Bhaskara Rao, B., 2010. "Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies," Energy Economics, Elsevier, vol. 32(1), pages 137-145, January.
    6. Fodha, Mouez & Zaghdoud, Oussama, 2010. "Economic growth and pollutant emissions in Tunisia: An empirical analysis of the environmental Kuznets curve," Energy Policy, Elsevier, vol. 38(2), pages 1150-1156, February.
    7. Grossman, G.M & Krueger, A.B., 1991. "Environmental Impacts of a North American Free Trade Agreement," Papers 158, Princeton, Woodrow Wilson School - Public and International Affairs.
    8. Gene M. Grossman & Alan B. Krueger, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 353-377.
    9. Zhang, Yue-Jun & Jin, Yan-Lin & Chevallier, Julien & Shen, Bo, 2016. "The effect of corruption on carbon dioxide emissions in APEC countries: A panel quantile regression analysis," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 220-227.
    10. Bowen, Alex & Stern, Nicholas, 2010. "Environmental policy and the economic downturn," LSE Research Online Documents on Economics 37589, London School of Economics and Political Science, LSE Library.
    11. Frank W. Geels, 2013. "The Impact of the Financial and Economic Crisis on Sustainability Transitions: Financial Investment, Governance and Public Discourse. WWWforEurope Working Paper No. 39," WIFO Studies, WIFO, number 47014.
    12. Chien-Chiang Lee & Yi-Bin Chiu & Chia-Hung Sun, 2009. "Does One Size Fit All? A Reexamination of the Environmental Kuznets Curve Using the Dynamic Panel Data Approach," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(4), pages 751-778.
    13. Botetzagias, Iosif & Tsagkari, Marouko & Malesios, Chrisovaladis, 2018. "Is the ‘Troika’ Bad for the Environment? An Analysis of EU Countries' Environmental Performance in Times of Economic Downturn and Austerity Memoranda," Ecological Economics, Elsevier, vol. 150(C), pages 34-51.
    14. repec:bla:obuest:v:61:y:1999:i:0:p:631-52 is not listed on IDEAS
    15. Ozcan, Burcu, 2013. "The nexus between carbon emissions, energy consumption and economic growth in Middle East countries: A panel data analysis," Energy Policy, Elsevier, vol. 62(C), pages 1138-1147.
    16. Lægreid, Ole Martin & Povitkina, Marina, 2018. "Do Political Institutions Moderate the GDP-CO2 Relationship?," Ecological Economics, Elsevier, vol. 145(C), pages 441-450.
    17. Sadorsky, Perry, 2010. "The impact of financial development on energy consumption in emerging economies," Energy Policy, Elsevier, vol. 38(5), pages 2528-2535, May.
    18. Muhammad, Bashir, 2019. "Energy consumption, CO2 emissions and economic growth in developed, emerging and Middle East and North Africa countries," Energy, Elsevier, vol. 179(C), pages 232-245.
    19. Katarzyna Iwińska & Athanasios Kampas & Kerry Longhurst, 2019. "Interactions between Democracy and Environmental Quality: Toward a More Nuanced Understanding," Sustainability, MDPI, vol. 11(6), pages 1-17, March.
    20. Figueroa, Eugenio & Pastén, Roberto, 2015. "Beyond additive preferences: Economic behavior and the income pollution path," Resource and Energy Economics, Elsevier, vol. 41(C), pages 91-102.
    21. Charlotte Burns & Paul Tobin, 2016. "The Impact of the Economic Crisis on European Union Environmental Policy," Journal of Common Market Studies, Wiley Blackwell, vol. 54(6), pages 1485-1494, November.
    22. Robert Y. Shum, 2012. "Effects of economic recession and local weather on climate change attitudes," Climate Policy, Taylor & Francis Journals, vol. 12(1), pages 38-49, January.
    23. Abbasi, Faiza & Riaz, Khalid, 2016. "CO2 emissions and financial development in an emerging economy: An augmented VAR approach," Energy Policy, Elsevier, vol. 90(C), pages 102-114.
    24. Adewuyi, Adeolu O. & Awodumi, Olabanji B., 2017. "Biomass energy consumption, economic growth and carbon emissions: Fresh evidence from West Africa using a simultaneous equation model," Energy, Elsevier, vol. 119(C), pages 453-471.
    25. Shahbaz, Muhammad & Nasir, Muhammad Ali & Roubaud, David, 2018. "Environmental degradation in France: The effects of FDI, financial development, and energy innovations," Energy Economics, Elsevier, vol. 74(C), pages 843-857.
    26. Boutabba, Mohamed Amine, 2014. "The impact of financial development, income, energy and trade on carbon emissions: Evidence from the Indian economy," Economic Modelling, Elsevier, vol. 40(C), pages 33-41.
    27. Ansuategi, Alberto & Escapa, Marta, 2002. "Economic growth and greenhouse gas emissions," Ecological Economics, Elsevier, vol. 40(1), pages 23-37, January.
    28. Lee, Chien-Chiang & Chiu, Yi-Bin & Sun, Chia-Hung, 2010. "The environmental Kuznets curve hypothesis for water pollution: Do regions matter?," Energy Policy, Elsevier, vol. 38(1), pages 12-23, January.
    29. Zhang, Yue-Jun, 2011. "The impact of financial development on carbon emissions: An empirical analysis in China," Energy Policy, Elsevier, vol. 39(4), pages 2197-2203, April.
    30. Kinda, Romuald, 2010. "Democratic institutions and environmental quality: effects and transmission channels," MPRA Paper 27455, University Library of Munich, Germany.
    31. Pao, Hsiao-Tien & Tsai, Chung-Ming, 2010. "CO2 emissions, energy consumption and economic growth in BRIC countries," Energy Policy, Elsevier, vol. 38(12), pages 7850-7860, December.
    32. Xie, Qichang & Liu, Junxian, 2019. "Combined nonlinear effects of economic growth and urbanization on CO2 emissions in China: Evidence from a panel data partially linear additive model," Energy, Elsevier, vol. 186(C).
    33. Cole, Matthew A., 2007. "Corruption, income and the environment: An empirical analysis," Ecological Economics, Elsevier, vol. 62(3-4), pages 637-647, May.
    34. Alex Bowen & Nicholas Stern, 2010. "Environmental policy and the economic downturn," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(2), pages 137-163, Summer.
    35. Dehghan Shabani, Zahra & Shahnazi, Rouhollah, 2019. "Energy consumption, carbon dioxide emissions, information and communications technology, and gross domestic product in Iranian economic sectors: A panel causality analysis," Energy, Elsevier, vol. 169(C), pages 1064-1078.
    36. Wang, Zhaohua & Danish, & Zhang, Bin & Wang, Bo, 2018. "The moderating role of corruption between economic growth and CO2 emissions: Evidence from BRICS economies," Energy, Elsevier, vol. 148(C), pages 506-513.
    37. Al-Mulali, Usama & Ozturk, Ilhan, 2015. "The effect of energy consumption, urbanization, trade openness, industrial output, and the political stability on the environmental degradation in the MENA (Middle East and North African) region," Energy, Elsevier, vol. 84(C), pages 382-389.
    38. Tang, Chor Foon & Tan, Bee Wah, 2015. "The impact of energy consumption, income and foreign direct investment on carbon dioxide emissions in Vietnam," Energy, Elsevier, vol. 79(C), pages 447-454.
    39. Ozturk, Ilhan & Acaravci, Ali, 2013. "The long-run and causal analysis of energy, growth, openness and financial development on carbon emissions in Turkey," Energy Economics, Elsevier, vol. 36(C), pages 262-267.
    40. Mohamed Amine Boutabba, 2014. "The impact of financial development, income, energy and trade on carbon emissions: Evidence from the Indian economy," Post-Print hal-02877966, HAL.
    41. Sadorsky, Perry, 2011. "Financial development and energy consumption in Central and Eastern European frontier economies," Energy Policy, Elsevier, vol. 39(2), pages 999-1006, February.
    42. Chiu, Yi-Bin, 2017. "Carbon dioxide, income and energy: Evidence from a non-linear model," Energy Economics, Elsevier, vol. 61(C), pages 279-288.
    43. Farzin, Y. Hossein & Bond, Craig A., 2006. "Democracy and environmental quality," Journal of Development Economics, Elsevier, vol. 81(1), pages 213-235, October.
    44. López, Ramón E. & Yoon, Sang W., 2014. "Pollution–income dynamics," Economics Letters, Elsevier, vol. 124(3), pages 504-507.
    45. You, Wan-Hai & Zhu, Hui-Ming & Yu, Keming & Peng, Cheng, 2015. "Democracy, Financial Openness, and Global Carbon Dioxide Emissions: Heterogeneity Across Existing Emission Levels," World Development, Elsevier, vol. 66(C), pages 189-207.
    46. Kahouli, Bassem, 2018. "The causality link between energy electricity consumption, CO2 emissions, R&D stocks and economic growth in Mediterranean countries (MCs)," Energy, Elsevier, vol. 145(C), pages 388-399.
    47. Dick van Dijk & Dennis Fok & Philip Hans Franses, 2005. "A multi-level panel STAR model for US manufacturing sectors," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(6), pages 811-827.
    48. Ahmad, Najid & Du, Liangsheng, 2017. "Effects of energy production and CO2 emissions on economic growth in Iran: ARDL approach," Energy, Elsevier, vol. 123(C), pages 521-537.
    49. Pao, Hsiao-Tien & Fu, Hsin-Chia & Tseng, Cheng-Lung, 2012. "Forecasting of CO2 emissions, energy consumption and economic growth in China using an improved grey model," Energy, Elsevier, vol. 40(1), pages 400-409.
    50. Tamazian, Artur & Chousa, Juan Piñeiro & Vadlamannati, Krishna Chaitanya, 2009. "Does higher economic and financial development lead to environmental degradation: Evidence from BRIC countries," Energy Policy, Elsevier, vol. 37(1), pages 246-253, January.
    51. Gorus, Muhammed Sehid & Aydin, Mucahit, 2019. "The relationship between energy consumption, economic growth, and CO2 emission in MENA countries: Causality analysis in the frequency domain," Energy, Elsevier, vol. 168(C), pages 815-822.
    52. Lv, Zhike, 2017. "The effect of democracy on CO2 emissions in emerging countries: Does the level of income matter?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 900-906.
    53. Salahuddin, Mohammad & Alam, Khorshed & Ozturk, Ilhan & Sohag, Kazi, 2018. "The effects of electricity consumption, economic growth, financial development and foreign direct investment on CO2 emissions in Kuwait," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P2), pages 2002-2010.
    54. Bernauer, Thomas & Koubi, Vally, 2009. "Effects of political institutions on air quality," Ecological Economics, Elsevier, vol. 68(5), pages 1355-1365, March.
    55. Kuheli Dutt, 2009. "Governance, institutions and the environment-income relationship: a cross-country study," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 11(4), pages 705-723, August.
    56. Alex Bowen & Nicholas Stern, 2010. "Environmental policy and the economic downturn," GRI Working Papers 16, Grantham Research Institute on Climate Change and the Environment.
    57. Salahuddin, Mohammad & Gow, Jeff, 2014. "Economic growth, energy consumption and CO2 emissions in Gulf Cooperation Council countries," Energy, Elsevier, vol. 73(C), pages 44-58.
    58. G. S. Maddala & Shaowen Wu, 1999. "A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 631-652, November.
    59. Lee, Chien-Chiang & Chiu, Yi-Bin & Chang, Chi-Hung, 2013. "Insurance demand and country risks: A nonlinear panel data analysis," Journal of International Money and Finance, Elsevier, vol. 36(C), pages 68-85.
    60. AkbostancI, Elif & Türüt-AsIk, Serap & Tunç, G. Ipek, 2009. "The relationship between income and environment in Turkey: Is there an environmental Kuznets curve?," Energy Policy, Elsevier, vol. 37(3), pages 861-867, March.
    61. Mirza, Faisal Mehmood & Kanwal, Afra, 2017. "Energy consumption, carbon emissions and economic growth in Pakistan: Dynamic causality analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 1233-1240.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhao, Jun & Dong, Kangyin & Dong, Xiucheng & Shahbaz, Muhammad & Kyriakou, Ioannis, 2022. "Is green growth affected by financial risks? New global evidence from asymmetric and heterogeneous analysis," Energy Economics, Elsevier, vol. 113(C).
    2. Rong, Liu & Wang, Zhenbo & Li, Zhijun, 2024. "Unraveling the role of Financial Risk, social globalization and Economic Risk towards attaining sustainable environment in China: Does resources curse still holds," Resources Policy, Elsevier, vol. 88(C).
    3. Zhao, Jun & Shahbaz, Muhammad & Dong, Xiucheng & Dong, Kangyin, 2021. "How does financial risk affect global CO2 emissions? The role of technological innovation," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    4. Ma, Beiling & Destek, Mehmet Akif & Shahzad, Luqman & Bashir, Muhammad Farhan, 2024. "Fintech, natural resource abundance, environmental regulations and energy consumption in BRICST and G7 economies: Empirical evidence from novel climate change index," Resources Policy, Elsevier, vol. 91(C).
    5. Yu, Chin-Hsien & Wu, Xiuqin & Zhang, Dayong & Chen, Shi & Zhao, Jinsong, 2021. "Demand for green finance: Resolving financing constraints on green innovation in China," Energy Policy, Elsevier, vol. 153(C).
    6. Opeoluwa Seun Ojekemi & Mehmet Ağa & Cosimo Magazzino, 2023. "Towards Achieving Sustainability in the BRICS Economies: The Role of Renewable Energy Consumption and Economic Risk," Energies, MDPI, vol. 16(14), pages 1-18, July.
    7. Chen Wang & Khalid Eltayeb Elfaki & Xin Zhao & Yuping Shang & Zeeshan Khan, 2022. "International trade and consumption‐based carbon emissions: Does energy efficiency and financial risk ensure sustainable environment?," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1451-1461, December.
    8. Kwaku Addai & Sema Yılmaz Genç & Rui Alexandre Castanho & Gualter Couto & Ayhan Orhan & Muhammad Umar & Dervis Kirikkaleli, 2023. "Financial Risk and Environmental Sustainability in Poland: Evidence from Novel Fourier-Based Estimators," Sustainability, MDPI, vol. 15(7), pages 1-19, March.
    9. Acheampong, Alex O. & Opoku, Eric Evans Osei & Dzator, Janet, 2022. "Does democracy really improve environmental quality? Empirical contribution to the environmental politics debate," Energy Economics, Elsevier, vol. 109(C).
    10. Ahmad, Mahmood & Ahmed, Zahoor & Khan, Sana Akbar & Alvarado, Rafael, 2023. "Towards environmental sustainability in E−7 countries: Assessing the roles of natural resources, economic growth, country risk, and energy transition," Resources Policy, Elsevier, vol. 82(C).
    11. Wu, Peng & Li, Shanshan, 2023. "Does the risk of oil and energy based resources extraction Hinder or Foster sustainable development?," Resources Policy, Elsevier, vol. 85(PB).
    12. Alin Opreana & Simona Vinerean & Diana Marieta Mihaiu & Liliana Barbu & Radu-Alexandru Șerban, 2023. "Fuzzy Analytic Network Process with Principal Component Analysis to Establish a Bank Performance Model under the Assumption of Country Risk," Mathematics, MDPI, vol. 11(14), pages 1-38, July.
    13. Yi-Bin Chiu & Wenwen Zhang, 2023. "Moderating Effect of Financial Development on the Relationship between Renewable Energy and Carbon Emissions," Energies, MDPI, vol. 16(3), pages 1-18, February.
    14. Hunjra, Ahmed Imran & Azam, Muhammad & Bruna, Maria Giuseppina & Verhoeven, Peter & Al-Faryan, Mamdouh Abdulaziz Saleh, 2022. "Sustainable development: The impact of political risk, macroeconomic policy uncertainty and ethnic conflict," International Review of Financial Analysis, Elsevier, vol. 84(C).
    15. Kartal, Mustafa Tevfik & Kılıç Depren, Serpil & Ayhan, Fatih & Ulussever, Talat, 2024. "Quantile-based heterogeneous effects of nuclear energy and political stability on the environment in highly nuclear energy-consuming and politically stable countries," Applied Energy, Elsevier, vol. 365(C).
    16. de Lucas-Santos, Sonia & Delgado-Rodríguez, María Jesús & Cabezas-Ares, Alfredo, 2021. "Cyclical convergence in per capita carbon dioxide emission in US states: A dynamic unobserved component approach," Energy, Elsevier, vol. 217(C).
    17. Yanyan Jiang & Mohammad Razib Hossain & Zeeshan Khan & Junying Chen & Ramez Abubakr Badeeb, 2024. "Revisiting Research and Development Expenditures and Trade Adjusted Emissions: Green Innovation and Renewable Energy R&D Role for Developed Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2156-2191, March.
    18. Nuno Carlos Leitão, 2021. "The Effects of Corruption, Renewable Energy, Trade and CO 2 Emissions," Economies, MDPI, vol. 9(2), pages 1-19, April.
    19. Junaid Ashraf, 2023. "Does political risk undermine environment and economic development in Pakistan? Empirical evidence from China–Pakistan economic corridor," Economic Change and Restructuring, Springer, vol. 56(1), pages 581-608, February.
    20. Hassan Qudrat-Ullah & Chinedu Miracle Nevo, 2022. "Analysis of the Dynamic Relationships among Renewable Energy Consumption, Economic Growth, Financial Development, and Carbon Dioxide Emission in Five Sub-Saharan African Countries," Energies, MDPI, vol. 15(16), pages 1-19, August.
    21. Zhang, Wenwen & Chiu, Yi-Bin, 2023. "Country risks, government subsidies, and Chinese renewable energy firm performance: New evidence from a quantile regression," Energy Economics, Elsevier, vol. 119(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shahbaz, Muhammad & Nasir, Muhammad Ali & Roubaud, David, 2018. "Environmental degradation in France: The effects of FDI, financial development, and energy innovations," Energy Economics, Elsevier, vol. 74(C), pages 843-857.
    2. Muhammad Shahbaz & Avik Sinha, 2019. "Environmental Kuznets curve for CO2emissions: a literature survey," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 46(1), pages 106-168, January.
    3. Iftikhar Yasin & Nawaz Ahmad & Muhammad Aslam Chaudhary, 2021. "The impact of financial development, political institutions, and urbanization on environmental degradation: evidence from 59 less-developed economies," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(5), pages 6698-6721, May.
    4. Shahbaz, Muhammad & Sinha, Avik, 2019. "Environmental Kuznets Curve for CO2 emission: A survey of empirical literature," MPRA Paper 100257, University Library of Munich, Germany, revised 2019.
    5. Ahmed Imran Hunjra & Tahar Tayachi & Muhammad Irfan Chani & Peter Verhoeven & Asad Mehmood, 2020. "The Moderating Effect of Institutional Quality on the Financial Development and Environmental Quality Nexus," Sustainability, MDPI, vol. 12(9), pages 1-13, May.
    6. Dong-Hyeon Kim & Yi-Chen Wu & Shu-Chin Lin, 2022. "Carbon dioxide emissions, financial development and political institutions," Economic Change and Restructuring, Springer, vol. 55(2), pages 837-874, May.
    7. Acheampong, Alex O., 2019. "Modelling for insight: Does financial development improve environmental quality?," Energy Economics, Elsevier, vol. 83(C), pages 156-179.
    8. Le Hoang Phong, 2019. "Globalization, Financial Development, and Environmental Degradation in the Presence of Environmental Kuznets Curve: Evidence from ASEAN-5 Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 40-50.
    9. Iftikhar Yasin & Nawaz Ahmad & M. Aslam Chaudhary, 2020. "Catechizing the Environmental-Impression of Urbanization, Financial Development, and Political Institutions: A Circumstance of Ecological Footprints in 110 Developed and Less-Developed Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 147(2), pages 621-649, January.
    10. Chiu, Yi-Bin, 2017. "Carbon dioxide, income and energy: Evidence from a non-linear model," Energy Economics, Elsevier, vol. 61(C), pages 279-288.
    11. Shahbaz, Muhammad & Nasir, Muhammad Ali & Hille, Erik & Mahalik, Mantu Kumar, 2020. "UK's net-zero carbon emissions target: Investigating the potential role of economic growth, financial development, and R&D expenditures based on historical data (1870–2017)," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    12. Khezri, Mohsen & Karimi, Mohammad Sharif & Khan, Y.A. & Abbas, S.Z., 2021. "The spillover of financial development on CO2 emission: A spatial econometric analysis of Asia-Pacific countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 145(C).
    13. Yilmaz Bayar & Laura Diaconu (Maxim) & Andrei Maxim, 2020. "Financial Development and CO 2 Emissions in Post-Transition European Union Countries," Sustainability, MDPI, vol. 12(7), pages 1-15, March.
    14. Arminen, Heli & Menegaki, Angeliki N., 2019. "Corruption, climate and the energy-environment-growth nexus," Energy Economics, Elsevier, vol. 80(C), pages 621-634.
    15. Shahbaz, Muhammad & Hye, Qazi Muhammad Adnan & Tiwari, Aviral Kumar & Leitão, Nuno Carlos, 2013. "Economic growth, energy consumption, financial development, international trade and CO2 emissions in Indonesia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 25(C), pages 109-121.
    16. Md. Golam Kibria & Ismay Jahan & Jannatul Mawa, 2021. "Asymmetric effect of financial development and energy consumption on environmental degradation in South Asia? New evidence from non-linear ARDL analysis," SN Business & Economics, Springer, vol. 1(4), pages 1-18, April.
    17. Mohamed Abdouli & Sami Hammami, 2020. "Economic Growth, Environment, FDI Inflows, and Financial Development in Middle East Countries: Fresh Evidence from Simultaneous Equation Models," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(2), pages 479-511, June.
    18. Shahbaz, Muhammad & Shahzad, Syed Jawad Hussain & Ahmad, Nawaz & Alam, Shaista, 2016. "Financial development and environmental quality: The way forward," Energy Policy, Elsevier, vol. 98(C), pages 353-364.
    19. Muhammad Shahbaz & Mehmet Akif Destek & Michael L. Polemis, 2018. "Do Foreign Capital and Financial Development Affect Clean Energy Consumption and Carbon Emissions? Evidence from BRICS and Next-11 Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 68(4), pages 20-50, October-D.
    20. Zhao, Bingyu & Yang, Wanping, 2020. "Does financial development influence CO2 emissions? A Chinese province-level study," Energy, Elsevier, vol. 200(C).

    More about this item

    Keywords

    Carbon dioxide emissions; Energy use; Real income; Country risks;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:206:y:2020:i:c:s0360544220311555. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.