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The Relationship Between Co2 Emissions And Gdp Per Capita, Energy Consumption, Industrial Production In The Case Of Western Balkan Countries

Author

Listed:
  • Gentiana Zhigolli

    (South East European University, North Macedonia)

  • Besnik Fetai

    (South East European University, North Macedonia)

Abstract

Purpose: This research investigates the relationship among CO2 emission, GDP per capita, energy consumption and industrial production for the Western Balkan countries during the period 2011 – 2022. Design/methodology/approach: The model consists of CO2 emission as a dependent variable, and GDP per capita, energy consumption and industrial production as independent variables. The analysis includes Ordinary Least Square (OLS), Fixed Effects (FE), Random Effects (RE), and Hausman–Taylor IV model. Findings: Results reveal a negative relationship between CO2 emissions and GDP per capita, and a positive relationship with energy consumption, while industrial production is not significant at all. Practical implications: Knowing the relationship between CO2 emissions and GDP per capita, energy consumption, and industrial production could help in projecting the policies that help protect the environment.

Suggested Citation

  • Gentiana Zhigolli & Besnik Fetai, 2024. "The Relationship Between Co2 Emissions And Gdp Per Capita, Energy Consumption, Industrial Production In The Case Of Western Balkan Countries," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 33(2), pages 539-553, December.
    • Handle: RePEc:avo:emipdu:v:33:y:2024:i:2:p:539-553
    DOI: 10.17818/EMIP/2024/2.10
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    More about this item

    Keywords

    CO2 emission; Western Balkan countries; Panel data; Hausman–Taylor IV model;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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