Environmental Kuznets Curve in Greece in the Period 1960-2014 (original) (raw)
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Panoeconomicus, 2019
In this study, the environmental Kuznets curve (EKC) hypothesis is examined for 3 developed countries, which are Denmark, the United Kingdom, and Spain, for the period between 1960 and 2014. The EKC hypothesis is examined under 2 nexuses which are GDP, CO 2 and energy consumption, and GDP, CO 2 , energy consumption and the square of GDP. Causal and long-term relationships between GDP, CO 2 , and energy consumption are examined for these 3 developed countries using the ARDL bounds test, the Toda and Yamamoto Granger non-causality test, the VAR Granger Causality/Block Exogeneity Wald test, and the Johansen cointegration test. Long-term relationships between GDP, CO 2 , energy consumption, and the square of GDP are examined by the Johansen cointegration test. The EKC hypothesis is not confirmed for Denmark, the United Kingdom, and Spain, and the neutrality hypothesis is confirmed for these 3 developed countries. Unidirectional causality running from energy consumption to CO 2 is found for Denmark, and unidirectional causality running from CO 2 to energy consumption is found for the United Kingdom.
On the Dynamic Linkages between CO2 Emissions, Energy Consumption and Growth in Greece
EUROPEAN RESEARCH STUDIES JOURNAL, 2014
This paper attempts to analyze the short-and long-run causal dynamic interactions between energy consumption, CO 2 emissions and economic growth in Greece, using time-series techniques. To this end, annual data covering the period 1980-2012 are employed and tests for unit roots, the ARDL-bounds approach of cointegration, and Granger-causality based on error-correction models are applied. The results reveal strong feedback in the long-run between all the examined variables. For the shortrun, there is evidence of two-way causality in all examined pairs with only exception the direction CO2 towards GDP.
A B S T R A C T Greece recorded a significant decline in CO 2 emissions from energy use from 2003 to 2013, accompanied by a reduction in energy consumption, particularly during the economic recession. This study attempts to identify the driving forces of CO 2 emissions related to energy consumption, through the use of the complete decomposition technique developed by JW Sun. The decomposition analysis focuses on the four factors responsible for CO 2 emissions: the carbon intensity effect, the energy intensity effect, the structural effect, and the economic activity effect. The analysis covers all the major productive sectors of the Greek economy. The study covers the period 2003–2013 and is divided into two subperiods (2003–2008 and 2008–2013), in order to assess changes in the contribution of the examined factors during the economic crisis (2008–2013). The analysis is extended to examine the decoupling relationship between CO 2 emissions and economic growth in Greece with the use of the decoupling index.
Applied Energy, 2011
This paper deals with the causal relationship analysis between Gross Domestic Product, Energy Intensity and CO 2 emissions in Greece from 1977 to 2007, by means of Johansen cointegration tests and Grangercausality tests based on a multivariate Vector Error Correction Modeling. Results indicate that there is a set of uni-directional and bi-directional causalities among the selected time series. We performed a model Variance Decomposition Analysis using Choleski technique and we provided a comparison with other studies. The findings of the study have significant policy implications for countries like Greece as the decoupling of CO 2 emissions and economic growth seems quite unlikely.
Technological and Economic Development of Economy, 2014
The paper considers the relationship between greenhouse gas emissions (GHG) as the main variable of climate change and gross domestic product (GDP), using the environmental Kuznets curve (EKC) technique. At early stages of economic growth, EKC indicates the increase of pollution related to the growing use of resources. However, when a certain level of income per capita is reached, the trend reverses and at a higher stage of development, further economic growth leads to improvement of the environment. According to the researchers, this implies that the environmental impact indicator is an inverted U-shaped function of income per capita. In this paper, the cubic equation is used to empirically check the validity of the EKC relationship for European countries. The analysis is based on the survey of EU-27, Norway and Switzerland in the period of 1995–2010. The data is taken from the Eurostat database. To gain some insights into the environmental trends in each country, the article highl...
Environmental Kuznets curve for CO2 emissions in Baltic countries: an empirical investigation
Environmental Science and Pollution Research, 2022
Recognizing the factors responsible for the gradual increase in greenhouse gas [e.g. carbon dioxide (CO2)] emissions is crucial to reduce the detrimental consequences on environmental sustainability and human life. Accordingly, spotting the sectors which contribute the most to CO2 emissions and dampen economic growth have become one of the major concerns for policymakers around the globe. Against this background, this paper examines the nexus between economic growth and CO2 emissions in three Baltic countries namely Estonia, Latvia and Lithuania. Thus, the study basically checks the validity of the environmental Kuznets curve (EKC) hypothesis by taking into account the role of energy consumption and financial development over the period of 1990–2018. This type of study is highly important for the region in order to comply with the commitments of the Paris Agreement and Sustainable Development Goals of the United Nations. The study first employs appropriate testing procedures and sec...
Issue 3, 2013
The purpose of this paper is to offer an initial presentation and classification of the methodological approaches used to analyzing energy demand, related CO2 emissions and economic development for countries, regions and subsequently to provide for an extended survey of related articles for the case-study of Greece that identified 48 scientific publications. It was found that all three main existent methodological analytical schemes, namely 'Top-down' models, Econometric methods and Decomposition Analysis methods, have been applied to model energy, environmental and macroeconomic variables for Greece. Specific application areas included sectoral (industrial, transport, tourism, manufacturing, residential and electricity) energy demand and related CO2 emissions, energy prices and energy taxation. The paper culminates to a comprehensive comparison of employed methods and obtained results for Greece and conclusions.
Revisiting the environmental Kuznets curve in a global economy
Renewable and Sustainable Energy Reviews, 2013
The present study deals with an empirical investigation between CO 2 emissions, energy intensity, economic growth and globalization using annual data over the period of 1970-2010 for Turkish economy. We applied unit root test and cointegration approach in the presence of structural breaks. The direction of causality between the variables is investigated by applying the VECM Granger causality approach. Our results confirmed the existence of cointegration between the series. The empirical evidence reported that energy intensity, economic growth (globalization) increase (condense) CO 2 emissions. The results also validated the presence of Environmental Kuznets curve (EKC). The causality analysis shows bidirectional causality between economic growth and CO 2 emissions. This implies that economic growth can be boosted at the cost of environment.
Economic Development and Greenhouse Gas Emissions in the European Union Countries
Journal of Business Economics and Management, 2015
The paper analyses the environmental Kuznets curve (EKC) relationship between greenhouse gases and main aspects of economic development based on the panel data of 20 countries of the EU, including the data of three Baltic States, in the period 1995–2011. The fixed effect panel model was used as a framework for the analysis. The commonly used models confirmed the presence of the inverse U-shaped relationship. The novel contribution of this paper is that the factor referring to the global financial crisis was tested in expanded EKC model. Higher energy taxes, primary production of nuclear heat and R&D decrease the level of greenhouse gas emissions (GHG). The size of agriculture, industry and construction, as well as the primary production of solid fuels have a positive sign, which means that a higher value of these indicators is associated with a higher level of GHG. This implies that the analysed set of factors can be applied to adjust the EKC trend in the region and might be useful ...
This research empirically explores the relation between carbon dioxide emission and economic growth during the period 1992–2010, using panel data on the European Union countries. Both fixed and random effect models are employed to test the Environmental Kuznets Curve (EKC) relationship between CO 2 emissions and GDP per capita. While no U-shaped EKC was confirmed empirically for all 28 current EU member states, the graphical analysis demonstrates a justified turning point for CO 2 emissions as GDP per capita reaches the level of 23,000 USD. Furthermore, there is a firm empirical ground for the EKC hypothesis based on data from 16 older, relatively high-income EU states. Thus, though not empirically confirmed, there is ample data verifying the existence of the EKC in EU economies.