Examining the influence of industrial growth, renewable energy consumption, and the financial development index on CO 2 emissions: Empirical insights from OECD countries
Résumé
Abstract The increase in carbon dioxide (CO2) emissions has precipitated a climate crisis, with the industrial sector identified as a significant contributor to escalating pollution levels. This research explores the impact of real gross domestic product (GDP), consumption of renewable and non-renewable energy (RE, NRE), financial development (FD), and industrial value added (IVA) on CO2 emissions across a panel of OECD countries spanning the period 2000–2021. Cointegration techniques are employed to achieve this objective. The findings of the empirical analysis reveal cross-sectional dependence among countries. Furthermore, the variables are found to be integrated of order one, and cointegration tests indicate the presence of a long-run relationship between them. The results obtained from the fully modified ordinary least squares (FMOLS) analysis indicate that economic growth and non-renewable energy consumption are associated with an increase in CO2 emissions. In contrast, renewable energy consumption, industrial value-added, and financial development are found to contribute to a reduction in emissions over the long term. The interaction between financial development and industrial value-added exhibits a positive influence on CO2 emissions, indicating a lack of alignment between financial and industrial strategies.
Citer ce document
Accès au document
Texte intégral en lecture en ligne, réservé aux abonnés SPHAERO et aux membres de l'institution. Se connecter
Voir l'article sur le site de la revueAuteur(s)
Statistiques
Consultations : 1
Téléchargements : 0