The impacts of economic growth, industrial production, and energy consumption on CO2 emissions: A case study of leading CO2 emitting countries

This paper investigates the relationship between CO2 emissions per capita and their main drivers (economic growth, industrial production, and energy consumption). We focus on countries with the largest shares in global CO2 emissions per capita by applying panel regression with heterogeneous time trends. We found that best specification is none-effect panel regression with heterogeneous time trends. Our results reveal that energy consumption shows decisive positive evidence on CO2 emissions while economic growth and industrial production show weak positive evidence. (C) 2022 The Authors. Published by Elsevier Ltd.

Automated summary

This paper investigates the relationship between CO2 emissions per capita and their main drivers (economic growth, industrial production, and energy consumption). The study focuses on countries with the largest shares in global CO2 emissions per capita using panel regression with heterogeneous time trends. The results show that energy consumption has a decisive positive effect on CO2 emissions, while economic growth and industrial production have weak positive effects.