Biomass Energy Consumption, Economic Growth and CO2 Emission in G-20 Countries
Abstract
This study investigates the relationship between
biomass energy consumption, economic growth, carbon dioxide emissions, and
natural resource depletion in G-20 countries from 1992 to 2013. For this
purpose, we used panel unit root tests, the panel cointegration test, the panel
fully modified OLS (FMOLS) method, and the panel VECM Granger causality method.
The results reveal that biomass energy consumption, economic growth, CO2
emissions, and natural resource depletion are cointegrated. In addition,
increasing biomass energy consumption leads to increased economic growth. On
the other hand, the increase in biomass energy consumption reduces CO2
emissions. Moreover, a unidirectional causality exists from biomass energy
consumption to GDP growth, supporting the growth hypothesis. Finally, a
bidirectional causal relationship exists between biomass energy consumption and
CO2 emissions.
Keywords
References
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Details
Primary Language
English
Subjects
-
Journal Section
Research Article
Publication Date
February 3, 2019
Submission Date
August 15, 2018
Acceptance Date
September 6, 2018
Published in Issue
Year 2019 Volume: 7 Number: 1
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