The Effect of Energy Usage, Economic Growth, and Financial Development on CO2 Emission Management: An Analysis of OECD Countries with a High Environmental Performance Index

Szymczyk K., ŞAHİN D., BAĞCI H., KAYGIN C. Y.

ENERGIES, cilt.14, sa.15, 2021 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 14 Sayı: 15
  • Basım Tarihi: 2021
  • Doi Numarası: 10.3390/en14154671
  • Dergi Adı: ENERGIES
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, Aerospace Database, CAB Abstracts, Communication Abstracts, Compendex, INSPEC, Metadex, Veterinary Science Database, Directory of Open Access Journals, Civil Engineering Abstracts
  • Anahtar Kelimeler: CO2 emission, carbon management, economic growth, energy consumption, energy management, high environmental performance index, OECD countries, RENEWABLE ENERGY, TRADE OPENNESS, KUZNETS CURVE, ELECTRICITY CONSUMPTION, CARBON EMISSION, URBANIZATION, IMPACT, DECOMPOSITION, EAST
  • Sivas Cumhuriyet Üniversitesi Adresli: Evet

Özet

The environmental performance index was developed to protect public health, and to sustain and manage the ecological vitality that is a crucial factor in countries' social and economic development. The increase in CO2 emissions has been threatening environmental and human health. The main objective of this study is to evaluate the impact of economic growth, energy consumption, energy management, the urban population, trade openness, and financial development on CO2 emissions in the OECD countries that have a high ranking in the environmental performance index by utilizing the panel data analysis method for the years spanning 1990-2014. This assessment finds positive relationships between economic growth, energy consumption, and the urban population, and CO2 emissions. Moreover, it is put forward that a negative and significant relationship between financial development and CO2 emissions exists. Despite displaying a similar negative correlation, the relationship between trade openness and CO2 emissions is insignificant. In the Dumitrescu-Hurlin panel causality test conducted, it was seen that a two-way causality is prevalent between energy consumption and CO2 emissions. In addition, interrelations where CO2 emissions cause trade openness, and the urban population is an explanatory variable of the former relationship, were discovered.