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Investigating the impacts of energy consumption, real GDP, tourism and trade on CO2 emissions by accounting for cross-sectional dependence: A panel study of OECD countries

Author

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  • Eyup Dogan
  • Fahri Seker
  • Serap Bulbul

Abstract

The objective of this study is to analyse the long-run dynamic relationship of carbon dioxide emissions, real gross domestic product (GDP), the square of real GDP, energy consumption, trade and tourism under an Environmental Kuznets Curve (EKC) model for the Organization for Economic Co-operation and Development (OECD) member countries. Since we find the presence of cross-sectional dependence within the panel time-series data, we apply second-generation unit root tests, cointegration test and causality test which can deal with cross-sectional dependence problems. The cross-sectionally augmented Dickey-Fuller (CADF) and the cross-sectionally augmented Im-Pesaran-Shin (CIPS) unit root tests indicate that the analysed variables become stationary at their first differences. The Lagrange multiplier bootstrap panel cointegration test shows the existence of a long-run relationship between the analysed variables. The dynamic ordinary least squares (DOLS) estimation technique indicates that energy consumption and tourism contribute to the levels of gas emissions, while increases in trade lead to environmental improvements. In addition, the EKC hypothesis cannot be supported as the sign of coefficients on GDP and GDP2 is negative and positive, respectively. Moreover, the Dumitrescu–Hurlin causality tests exploit a variety of causal relationship between the analysed variables. The OECD countries are suggested to invest in improving energy efficiency, regulate necessary environmental protection policies for tourism sector in specific and promote trading activities through several types of encouragement act.

Suggested Citation

  • Eyup Dogan & Fahri Seker & Serap Bulbul, 2017. "Investigating the impacts of energy consumption, real GDP, tourism and trade on CO2 emissions by accounting for cross-sectional dependence: A panel study of OECD countries," Current Issues in Tourism, Taylor & Francis Journals, vol. 20(16), pages 1701-1719, December.
  • Handle: RePEc:taf:rcitxx:v:20:y:2017:i:16:p:1701-1719
    DOI: 10.1080/13683500.2015.1119103
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    Cited by:

    1. Ioana Meșter & Ramona Simuț & Liana Meșter & Dorin Bâc, 2023. "An Investigation of Tourism, Economic Growth, CO 2 Emissions, Trade Openness and Energy Intensity Index Nexus: Evidence for the European Union," Energies, MDPI, vol. 16(11), pages 1-26, May.
    2. Raad Mozib Lalon & Tasneema Khan & Shagufta Shaheen & Minhaz Ul-Haq, 2023. "Investigating the Impact of Economic Development, Energy Consumption, International Trade and Population on CO2 Emission of a Country: Evidence from an Emerging Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 558-566, November.
    3. Atif Jahanger & Muhammad Usman, 2023. "Investigating the Role of Information and Communication Technologies, Economic Growth, and Foreign Direct Investment in the Mitigation of Ecological Damages for Achieving Sustainable Development Goals," Evaluation Review, , vol. 47(4), pages 653-679, August.
    4. Damane, Moeti & Ho, Sin-Yu, 2024. "Effects of Financial Inclusion of Small and medium Sized Enterprises on Financial Stability: Evidence from SSA countries," MPRA Paper 121093, University Library of Munich, Germany.
    5. Ali, Amjad & Sumaira, Sumaira & Siddique, Hafiz Muhammad Abubakar & Ashiq, Saima, 2023. "Impact of Economic Growth, Energy Consumption and Urbanization on Carbon Dioxide Emissions in the Kingdom of Saudi Arabia," MPRA Paper 118832, University Library of Munich, Germany.
    6. Wang, Kun & Rehman, Mubeen Abdur & Fahad, Shah & Linzhao, Zeng, 2023. "Unleashing the influence of natural resources, sustainable energy and human capital on consumption-based carbon emissions in G-7 Countries," Resources Policy, Elsevier, vol. 81(C).
    7. Damane, Moeti & Ho, Sin-Yu, 2024. "Effects of financial inclusion on financial stability: evidence from ssa countries," MPRA Paper 120238, University Library of Munich, Germany.
    8. Ilhan Ozturk & Arshian Sharif & Danish Iqbal Godil & Adnan Yousuf & Iram Tahir, 2023. "The Dynamic Nexus Between International Tourism and Environmental Degradation in Top Twenty Tourist Destinations: New Insights From Quantile-on-Quantile Approach," Evaluation Review, , vol. 47(3), pages 532-562, June.
    9. Doğan, Buhari & Shahbaz, Muhammad & Bashir, Muhammad Farhan & Abbas, Shujaat & Ghosh, Sudeshna, 2023. "Formulating energy security strategies for a sustainable environment: Evidence from the newly industrialized economies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).
    10. Bilgili, Faik & Soykan, Erkan & Dumrul, Cüneyt & Awan, Ashar & Önderol, Seyit & Khan, Kamran, 2023. "Disaggregating the impact of natural resource rents on environmental sustainability in the MENA region: A quantile regression analysis," Resources Policy, Elsevier, vol. 85(PA).
    11. Makarov, Igor & Alataş, Sedat, 2024. "Production- and consumption-based emissions in carbon exporters and importers: A large panel data analysis for the EKC hypothesis," Applied Energy, Elsevier, vol. 363(C).
    12. Arunava Bandyopadhyay & Soumen Rej & Kashif Raza Abbasi & Ashar Awan, 2023. "Nexus between tourism, hydropower, and CO2 emissions in India: fresh insights from ARDL and cumulative fourier frequency domain causality," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(10), pages 10903-10927, October.
    13. Hong, Hui & Zhang, Cheng, 2023. "Bitcoin trading, economic growth, energy use, and CO2 emissions: An advanced panel study of emerging market economies," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 519-531.
    14. Ha-Chi Le & Thai-Ha Le, 2023. "Effects of economic, social, and political globalization on environmental quality: international evidence," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(5), pages 4269-4299, May.
    15. Jimoh Sina Ogede & Adedamola Akeem Siyanbola & Soliu Bidemi Adegboyega & Olayinka Esther Atoyebi, 2023. "On the asymmetric effects of economic policy uncertainty on renewable energy consumption: insights from sub-Saharan African countries," SN Business & Economics, Springer, vol. 3(10), pages 1-19, October.

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