CO2, GDP and Openness: A Vector Error Correction Model Approach for the Eurozone.
| Title: | CO2, GDP and Openness: A Vector Error Correction Model Approach for the Eurozone. |
|---|---|
| Authors: | Goldman, Sarah1 chairmanship@lux-sir.com, Nenovsky, Nikolay2 nikolay.nenovsky@u-picardie.fr, Shouyi Zhang3 shouyi.zhang@etud.upicardie.fr |
| Source: | Bulgarian Journal of International Economics & Politics. 2023, Vol. 3 Issue 1, p3-19. 17p. |
| Subject Terms: | *EUROZONE, *ECONOMIC impact, *EMISSION standards, *GROSS domestic product, CARBON emissions, CARBON dioxide, OPENNESS to experience, PARIS Agreement (2016) |
| Abstract: | Since the 2015 Paris Agreement, it is obvious that sooner or later the countries will be compelled to align their carbon dioxide (CO2) emissions to the international standards. This paper investigates the transition risk measured by the CO2 emissions and its causal relationships with economic growth and openness thanks to an empirical approach. Given the data availability, the database is based on an annual frequency. It starts in 2008 to end in 2019. The sample takes into account 10 Eurozone countries. We run econometric dynamic specifications by using a vector error correction model (VECM). These models are very flexible and provide interesting information on the short term and the longterm dynamic relationships between the CO2 emissions, the Gross Domestic Product (GDP) and the openness. The impulse function gives interesting results on the variable's impacts generated by the CO2 emissions and the variance decomposition sheds light on the magnitude of the forecast error variance determined by the shocks to each of the causal variables over time. The main results show negative relationships between the CO2 emissions and the openness and between GDP per capita and CO2 emissions. This conclusion may be useful to review the economic growth factors and the transition risk measured by the CO2 emissions. [ABSTRACT FROM AUTHOR] |
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| Database: | Political Science Complete |
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| Items | – Name: Title Label: Title Group: Ti Data: CO2, GDP and Openness: A Vector Error Correction Model Approach for the Eurozone. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Goldman%2C+Sarah%22">Goldman, Sarah</searchLink><relatesTo>1</relatesTo><i> chairmanship@lux-sir.com</i><br /><searchLink fieldCode="AR" term="%22Nenovsky%2C+Nikolay%22">Nenovsky, Nikolay</searchLink><relatesTo>2</relatesTo><i> nikolay.nenovsky@u-picardie.fr</i><br /><searchLink fieldCode="AR" term="%22Shouyi+Zhang%22">Shouyi Zhang</searchLink><relatesTo>3</relatesTo><i> shouyi.zhang@etud.upicardie.fr</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Bulgarian+Journal+of+International+Economics+%26+Politics%22">Bulgarian Journal of International Economics & Politics</searchLink>. 2023, Vol. 3 Issue 1, p3-19. 17p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22EUROZONE%22">EUROZONE</searchLink><br />*<searchLink fieldCode="DE" term="%22ECONOMIC+impact%22">ECONOMIC impact</searchLink><br />*<searchLink fieldCode="DE" term="%22EMISSION+standards%22">EMISSION standards</searchLink><br />*<searchLink fieldCode="DE" term="%22GROSS+domestic+product%22">GROSS domestic product</searchLink><br /><searchLink fieldCode="DE" term="%22CARBON+emissions%22">CARBON emissions</searchLink><br /><searchLink fieldCode="DE" term="%22CARBON+dioxide%22">CARBON dioxide</searchLink><br /><searchLink fieldCode="DE" term="%22OPENNESS+to+experience%22">OPENNESS to experience</searchLink><br /><searchLink fieldCode="DE" term="%22PARIS+Agreement+%282016%29%22">PARIS Agreement (2016)</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Since the 2015 Paris Agreement, it is obvious that sooner or later the countries will be compelled to align their carbon dioxide (CO2) emissions to the international standards. This paper investigates the transition risk measured by the CO2 emissions and its causal relationships with economic growth and openness thanks to an empirical approach. Given the data availability, the database is based on an annual frequency. It starts in 2008 to end in 2019. The sample takes into account 10 Eurozone countries. We run econometric dynamic specifications by using a vector error correction model (VECM). These models are very flexible and provide interesting information on the short term and the longterm dynamic relationships between the CO2 emissions, the Gross Domestic Product (GDP) and the openness. The impulse function gives interesting results on the variable's impacts generated by the CO2 emissions and the variance decomposition sheds light on the magnitude of the forecast error variance determined by the shocks to each of the causal variables over time. The main results show negative relationships between the CO2 emissions and the openness and between GDP per capita and CO2 emissions. This conclusion may be useful to review the economic growth factors and the transition risk measured by the CO2 emissions. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Bulgarian Journal of International Economics & Politics is the property of University of National & World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.37075/BJIEP.2023.1.01 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 17 StartPage: 3 Subjects: – SubjectFull: EUROZONE Type: general – SubjectFull: ECONOMIC impact Type: general – SubjectFull: EMISSION standards Type: general – SubjectFull: GROSS domestic product Type: general – SubjectFull: CARBON emissions Type: general – SubjectFull: CARBON dioxide Type: general – SubjectFull: OPENNESS to experience Type: general – SubjectFull: PARIS Agreement (2016) Type: general Titles: – TitleFull: CO2, GDP and Openness: A Vector Error Correction Model Approach for the Eurozone. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Goldman, Sarah – PersonEntity: Name: NameFull: Nenovsky, Nikolay – PersonEntity: Name: NameFull: Shouyi Zhang IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Text: 2023 Type: published Y: 2023 Identifiers: – Type: issn-print Value: 28152751 Numbering: – Type: volume Value: 3 – Type: issue Value: 1 Titles: – TitleFull: Bulgarian Journal of International Economics & Politics Type: main |
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