scholarly journals Financial Development and CO2 Emissions in Post-Transition European Union Countries

2020 ◽  
Vol 12 (7) ◽  
pp. 2640 ◽  
Author(s):  
Yilmaz Bayar ◽  
Laura Diaconu (Maxim) ◽  
Andrei Maxim
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Financial Development ◽  
Carbon Dioxide Emissions ◽  
Panel Cointegration ◽  
Financial Sector ◽  
Primary Energy ◽  
Primary Energy Consumption ◽  
Financial Sector Development

Carbon dioxide emissions are on the rise, posing a serious global issue. Therefore, it is important that policymakers identify the exact causes of these emissions. This paper investigates the influence of financial development, primary energy consumption, and economic growth on CO2 emissions in 11 post-transition European economies. The assessment was made for the 1995–2017 period using panel cointegration and causality analyses. The causality analyses did not reveal significant connection between financial sector development and CO2 emissions, but rather a two-way causality between primary energy consumption and economic growth, on one hand, and CO2 emissions on the other. Meanwhile, long-run analysis disclosed that financial sector development and primary energy consumption positively affected CO2 emissions. Our results seek to grab the attention of policy makers, who could work towards creating country-specific strategies that balance the relationship between financial development and CO2 emissions. These long-term policies could ensure both development of the financial sector and environmental protection.

Global difference in the relationships between tourism, economic growth, CO2 emissions, and primary energy consumption

2019 ◽  
Vol 23 (9) ◽  
pp. 1122-1137 ◽  
Author(s):  
Hong Shi ◽  
Xia Li ◽  
Han Zhang ◽  
Xiaojuan Liu ◽  
Taohong Li ◽  
...  
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Primary Energy ◽  
Primary Energy Consumption

scholarly journals Assessing the Impact of Factors Driving Global Carbon Dioxide Emissions

2019 ◽  
pp. 1-15
Author(s):  
Redwan Ahmed ◽  
Gabriela Sabau ◽  
Morteza Haghiri
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Financial Development ◽  
Carbon Dioxide Emissions ◽  
Well Being ◽  
Testing Procedures ◽  
Cointegration Tests ◽  
Growth Energy ◽  
The Impact

The aim of this study is to empirically investigate the causal relationship between global CO2 emissions and six of their potentially contributing factors (i.e., economic growth, energy consumption, population, trade openness, financial development and corruption), by using a panel data collected from 65 countries during 1995 to 2013. We developed a dynamic model and used a four-step testing procedures (i.e., panel unit root tests, panel cointegration tests, long-run estimates, i.e. FMOLS estimates and a Granger causality test). The results showed that the most important factors driving global CO2 emissions were economic growth, energy consumption, corruption and financial development. It is recommended that countries develop their own CO2 reducing policies by designing an appropriate combination/mix of policy tools, such as regulation, economic, voluntary and educational/ informational instruments to address their environmental pollution. Countries could consider all dimensions of well-being when they measure their economic development. Imposing pollution taxes on fossil fuel based energy supplies, developing emissions standards, strengthening anti-corruption strategies and educating people about the adverse effects of CO2 emissions on the natural environment and human health are potential policy measures.

scholarly journals Modelling Energy Consumption, Carbon Dioxide Emissions and Economic Growth Nexus in Ethiopia: Evidence from Cointegration and Causality Analysis

2018 ◽  
Vol 6 (6) ◽  
pp. 699 ◽  
Author(s):  
Shemelis Kebede Hundie
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Financial Development ◽  
Environmental Sustainability ◽  
Carbon Dioxide Emissions ◽  
Positive Impact ◽  
Trade Openness ◽  
Causality Analysis ◽  
The Impact

Policy makers need to know the relationship among energy use, economic growth and environmental quality in order to formulate rigorous policy for economic growth and environmental sustainability. This study analyzes the nexus among energy consumption, affluence, financial development, trade openness, urbanization, population and CO2 emissions in Ethiopia using data from 1970–2014. The ARDL cointegration results show that cointegration exists among the variables. Energy consumption, population, trade openness and economic growth have positive impact on CO2 in the long-run while economic growth squared reduces CO2 emissions which confirms that the EKC hypothesis holds in Ethiopia. In the short-run urbanization and energy consumption intensify environmental degradation. Toda-Yamamoto granger causality results indicate the bi-directional causality between energy consumption and CO2 emissions, CO2 emissions and urbanization. Financial development, population and urbanization cause economic growth while economic growth causes CO2 emissions. Causality runs from energy consumption to financial development, urbanization and population which in turn cause economic growth. From the result, CO2 emissions extenuation policy in Ethiopia should focus on environmentally friendly growth, enhancing consumption of cleaner energy, incorporating the impact of population, urbanization, trade and financial development.

scholarly journals Sustainable energy path

2005 ◽  
Vol 9 (3) ◽  
pp. 7-14 ◽  
Author(s):  
Hiromi Yamamoto ◽  
Kenji Yamaji
Keyword(s):  
Energy Consumption ◽  
Co2 Emissions ◽  
Fossil Fuels ◽  
Cost Minimization ◽  
Sustainable Energy ◽  
Energy Systems ◽  
Primary Energy ◽  
Primary Energy Consumption ◽  
Photo Voltaic ◽  
Global Energy Supply

The uses of fossil fuels cause not only the resources exhaustion but also the environmental problems such as global warming. The purposes of this study are to evaluate paths to ward sustainable energy systems and roles of each renewable. In order to realize the purposes, the authors developed the global land use and energy model that figured the global energy supply systems in the future considering the cost minimization. Using the model the authors conducted a simulation in C30R scenario, which is a kind of strict CO2 emission limit scenarios and reduced CO2 emissions by 30% compared with Kyoto protocol forever scenario, and obtained the following results. In C30R scenario bio energy will supply 33% of all the primary energy consumption. How ever, wind and photo voltaic will supply 1.8% and 1.4% of all the primary energy consumption, respectively, because of the limits of power grid stability. The results imply that the strict limits of CO2 emissions are not sufficient to achieve the complete renewable energy systems. In order to use wind and photo voltaic as major energy resources we need not only to reduce the plant costs but also to develop unconventional renewable technologies. .

Primary Energy Demands in Guangdong Province of China

2014 ◽  
Vol 962-965 ◽  
pp. 1779-1781
Author(s):  
Ying Chun Yang
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Guangdong Province ◽  
Primary Energy ◽  
Primary Energy Consumption ◽  
Energy Demands ◽  
Energy Conversation ◽  
Rapid Economic Growth ◽  
Energy Consumption Model ◽  
Forward Energy

Rapid economic growth in China induces higher energy consumption. This article establishes a primary energy consumption model. Finally, this article puts forward energy policies for ensuring economic growth and simultaneously achieving emission reduction and energy conversation.

scholarly journals The Impact of Energy Consumption and Economic Growth on Carbon Dioxide Emissions

2020 ◽  
Vol 12 (19) ◽  
pp. 7965
Author(s):  
Oluyomi A. Osobajo ◽  
Afolabi Otitoju ◽  
Martha Ajibola Otitoju ◽  
Adekunle Oke
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Carbon Dioxide Emissions ◽  
Fixed Effects ◽  
Positive Impact ◽  
Clean Energy ◽  
Cointegration Tests ◽  
The Impact

This study explored the effect of energy consumption and economic growth on CO2 emissions. The relationship between energy consumption, economic growth and CO2 emissions was assessed using regression analysis (the pooled OLS regression and fixed effects methods), Granger causality and panel cointegration tests. Data from 70 countries between 1994–2013 were analysed. The result of the Granger causality tests revealed that the study variables (population, capital stock and economic growth) have a bi-directional causal relationship with CO2 emissions, while energy consumption has a uni-directional relationship. Likewise, the outcome of the cointegration tests established that a long-run relationship exists among the study variables (energy consumption and economic growth) with CO2 emissions. However, the pooled OLS and fixed methods both showed that energy consumption and economic growth have a significant positive impact on CO2 emissions. Hence, this study supports the need for a global transition to a low carbon economy primarily through climate finance, which refers to local, national, or transnational financing, that may be drawn from public, private and alternative sources of financing. This will help foster large-scale investments in clean energy, that are required to significantly reduce CO2 emissions.

scholarly journals Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

2019 ◽  
Vol 11 (6) ◽  
pp. 1528 ◽  
Author(s):  
Yuriy Bilan ◽  
Dalia Streimikiene ◽  
Tetyana Vasylieva ◽  
Oleksii Lyulyov ◽  
Tetyana Pimonenko ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Panel Cointegration ◽  
Potential Candidate ◽  
Total Energy Consumption ◽  
Renewable Energy Consumption ◽  
Eu Membership ◽  
The Eu

This paper investigates the impact of renewable energy sources (RESs), CO2 emissions, macroeconomics, and the political stability in a country on the Gross Domestic Product (GDP). The authors analyse the dynamics of RESs use, CO2 emissions, and GDP development and also test the following hypotheses: (1) The country’s economic growth is related to the energy consumption, in terms of both human resources and capital; (2) the share of the renewable energy consumption of the total energy consumption has a positive impact on the economic growth; and (3) the share of the renewable energy consumption of the total energy consumption is unrelated to the economic growth. To test the above hypotheses, the authors use the modified Cobb-Douglas production function, which also considers RES production volumes, CO2 emissions, and economic growth. The study employs data between 1995 to 2015 from the candidate and potential candidate countries for the EU membership. The data are drawn from the World Bank and Eurostat. The analyses entail panel unit root tests, Pedroni panel cointegration tests, fully modified OLS (FMOLS), dynamic OLS (DOLS) panel cointegration techniques, and the Vector Error Correction model (VECM). The findings confirm the relationship between RESs, CO2 emissions, and the GDP. For the EU countries, RESs as human resources and capital have an impact on the GDP. Moreover, the results reveal a correction retraction when the economic growth leads to an increase in renewable energy consumption. The investigation also finds that candidate and potential candidate countries for the EU membership should foster renewable energy development. The authors conclude that developing affordable and effective instruments and mechanisms to boost the RES implementation is necessary to decrease the anthropogenic impact on the environment (in particular, decreasing CO2 emissions) without any attendant reduction in the economic growth.

scholarly journals Optimization of a Wood Pellet Boiler System Combined with CO2HPs in a Cold Climate Area in Japan

Energies ◽  
2020 ◽  
Vol 13 (21) ◽  
pp. 5531 ◽  
Author(s):  
Taro Mori ◽  
Yusuke Iwama ◽  
Hirofumi Hayama ◽  
Emad Mushtaha
Keyword(s):  
Energy Consumption ◽  
Water Supply ◽  
Co2 Emissions ◽  
Primary Energy ◽  
Cold Climate ◽  
Hot Water ◽  
Water Volume ◽  
Primary Energy Consumption ◽  
Wood Pellet ◽  
Hot Water Supply

Hot water supply is one of the leading consumers of energy in the building sector in cold climate areas. The use of woody biomass is effective in reducing CO2 emissions in hot-water supply systems. This report deals with a system that combines a wood pellet boiler (PB) and a heat pump system with CO2 (CO2HP) that is used in a facility for disabled people. The following research was conducted. The operation of a hybrid system combining a PB and CO2HPs was investigated. While operating the system, four specific operations were developed as countermeasures to save on costs and reduce system troubles while reducing CO2 emissions. The processes and results are introduced. Numerical simulations were carried out to optimize the operation. The hot water temperature, water volume, and hot water loads were simulated. The influence of the water volume ratio on the cost and primary energy consumption under the requirements for safe system operation was studied. The regional economic ripple effects (REREs) of this system were studied. The wood pellet boiler is not only a measure for reducing primary energy consumption but can also play an important role in a regional economy for sustainable development in countries that import energy resources such as Japan.

Sign in / Sign up

Export Citation Format

Share Document