期刊
JOURNAL OF CLEANER PRODUCTION
卷 228, 期 -, 页码 161-174出版社
ELSEVIER SCI LTD
DOI: 10.1016/j.jclepro.2019.04.281
关键词
Pooled mean group estimation; Causal relationship; Economic growth; Physical capital stock; Africa
资金
- National Nature Science Foundation of China [71774070, 71804060]
- Jiangsu Province Graduate Scientific Research Innovation Project (China) [KYCX17_1783, KYZZ16_0336]
In this study, the causal link amid economic growth, fossil fuel energy consumption, carbon emissions and oil price was empirically tested from 1990 to 2015 by using a panel of 22 African countries. The sample of African countries was divided into two subgroups namely; Oil exporters and Non-oil exporters. Using the PMG panel ARDL and panel econometric methods, heterogeneity and cross-sectional dependence were considered to examine the long and short-term dynamic relationships as well as validity of a proposed model. Findings from the Pesaran-Yamagata homogeneity test, Pesaran CD test, CIPS and CADF panel unit root tests and Westerlund-Edgerton bootstrap panel cointegration indicated, the panel time series data has heterogeneity and cross-sectional dependence, analysed variables are stationary and cointegrated respectively. With respect to the PMG panel ARDL estimation method it was evidenced that there exist, (i) a bilateral causal link flanked by fossil fuel energy consumption and economic growth as well as fossil fuel energy consumption and carbon emissions in long and shot-terms for all panels, (ii) a unilateral causality from carbon emissions to economic growth in long-term and short-term for non-oil exporters nonetheless a bilateral causal relationship only in long-term for oil exporting countries, and (iii) a unilateral cause-and-effect link from oil prices to economic growth, energy consumption (fossil fuel) and carbon emission across all country groups in long and short-terms. Policy recommendations are further discussed. (C) 2019 Elsevier Ltd. All rights reserved.
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