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Environmental Kuznets Curve and Sustainable Development in OECD Countries: A Panel Data Analysis

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  • Fakhre Alam

    (Department of Economics and Finance, College of Business Administration, University of Ha’il, the Kingdom of Saudi Arabia)

Abstract

The study investigated the hypothesis of the Environmental Kuznets’ Curve (EKC) in the selected 24 OECD countries using annual panel data from 1971 to 1916. The cointegration analysis of the variables found a cointegration among GDP, square of GDP, energy use, each in per capita terms and CO2 emissions. The Fully Modified Ordinary Least Square model results support the EKC hypothesis. Furthermore, the study also found a positive association between CO2 emissions and energy use per capita in the samples of 24 OECD countries. Therefore, for sustainable development, OECD countries need to aim for higher economic growth and development, improve the efficiency of energy production, usage, and consumption, and replace non-renewable energy with renewable energy sources. Alongside this, OECD nations should also have effective environmental regulations and efficient incentive systems and deploy sustainable and green technologies to lower CO2 emissions.

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Handle: RePEc:epw:develo:v:4:y:2024:i:6:id:15392
DOI: 10.24018/ejdevelop.2024.4.6.392
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