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Measuring The Impact Of Economic Policies On Co2 Emissions: Ways To Achieve Green Economic Recovery In The Post-Covid-19 Era

Author

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  • WENJI HUANG

    (School of Political Science and Public Administration, Neijiang Normal University, Neijiang 641112, China)

  • HAYOT BERK SAYDALIEV

    (��Institute of Forecasting and Macroeconomic Research, Tashkent, Uzbekistan)

  • WASIM IQBAL

    (��Department of Management Science, College of Management, Shenzhen University, Shenzhen, China)

  • MUHAMMAD IRFAN

    (�School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China¶Center for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing 100081, China∥Department of Business Administration, Ilma University, Karachi 75190, Pakistan)

Abstract

Regional attempts to reduce pollution levels emerging from the European Union (EU) relative to 2010 are contrasted with unique policies of individual member countries’ aims to achieve a 10% reduction per country. Given this scenario, this research expands on the topic by developing a novel framework that links macroeconomic policies, total national expenditure per person, traditional energy use, renewable energy use, and CO2 emissions levels in EU countries from 1990 to 2016. The study utilizes the second generation cross-sectional-autoregressive-distributed lag (CS-ARDL) panel data method. According to the study’s findings, the monetary instruments of growth exacerbated the adverse effects of CO2 emissions, and by tightening monetary policy, the harmful effects of CO2 emissions levels have been reduced. Further, the Granger causality test indicates a bidirectional causality between monetary policy and CO2 emissions levels, and unidirectional causality from the policy assessment for energy use. The finding confirms that the assessment policy recommendations on energy consumption have future effects on ecological value.

Suggested Citation

  • Wenji Huang & Hayot Berk Saydaliev & Wasim Iqbal & Muhammad Irfan, 2022. "Measuring The Impact Of Economic Policies On Co2 Emissions: Ways To Achieve Green Economic Recovery In The Post-Covid-19 Era," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 13(03), pages 1-29, August.
    • Handle: RePEc:wsi:ccexxx:v:13:y:2022:i:03:n:s2010007822400103
    DOI: 10.1142/S2010007822400103
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    Cited by:

    1. Yang, Zhenghan & Wei, Changjing & Fang, Zhen & Song, Xiaowei & Shi, Yang, 2024. "What role green finance and natural resources play for energy transition in ASEAN nations? A pathway to mitigating environmental degradation," Technological Forecasting and Social Change, Elsevier, vol. 205(C).
    2. Liguo, Xin & Ahmad, Manzoor & Khan, Shehzad & Haq, Zahoor Ul & Khattak, Shoukat Iqbal, 2023. "Evaluating the role of innovation in hybrid electric vehicle-related technologies to promote environmental sustainability in knowledge-based economies," Technology in Society, Elsevier, vol. 74(C).
    3. Feng, Yanchao & Sabir, Saeed Ahmad & Quddus, Abdul & Wang, Jianxin & Abbas, Shujaat, 2024. "Do the grey clouds of geopolitical risk and political globalization exacerbate environmental degradation? Evidence from resource-rich countries," Resources Policy, Elsevier, vol. 89(C).
    4. Qi, Ruijuan & Liu, Chang & Zhang, Qiwen, 2024. "Evidence mechanism for promoting natural resources and green recovery through green economy: Sustainable assistance in finance," Resources Policy, Elsevier, vol. 91(C).
    5. Bai, Dongbei & Du, Lizhao & Xu, Yang & Abbas, Shujaat, 2023. "Climate policy uncertainty and corporate green innovation: Evidence from Chinese A-share listed industrial corporations," Energy Economics, Elsevier, vol. 127(PB).
    6. Wang, Junqi & Zain ul Abidin, Rana & Afshan, Sahar & Miao, Chenglin & Ullah, Ehsan & Cai, Xuesen, 2023. "Do economic growth and globalization are drivers of sustainable resources management? New insights from BRICS countries," Resources Policy, Elsevier, vol. 87(PA).
    7. Cai, Xuesen & Wei, Changjing, 2023. "Does financial inclusion and renewable energy impede environmental quality: Empirical evidence from BRI countries," Renewable Energy, Elsevier, vol. 209(C), pages 481-490.
    8. Gakuru, Elias & Yang, Shaohua & Namahoro, J.P. & Nie, Peng & Bunje, Madinatou Yeh & Aslam, Naveed, 2024. "Energy-focused green climate policies and trade nexus:Do heterogeneous effects on clean energy poverty matter?," Energy, Elsevier, vol. 294(C).
    9. Wu, He & Feng, Ziyang & Sun, Tianjun & Li, Rongrong & Zhao, Haoyuan, 2024. "Efficiency, sustainability, and resilience a trifecta for a green economic recovery through natural resource markets," Resources Policy, Elsevier, vol. 88(C).
    10. Lu, Qingchang & Farooq, Muhammad Umar & Ma, Xiaoyu & Iram, Robina, 2022. "Assessing the combining role of public-private investment as a green finance and renewable energy in carbon neutrality target," Renewable Energy, Elsevier, vol. 196(C), pages 1357-1365.
    11. He, Junming & Iqbal, Wasim & Su, Fangli, 2023. "Nexus between renewable energy investment, green finance, and sustainable development: Role of industrial structure and technical innovations," Renewable Energy, Elsevier, vol. 210(C), pages 715-724.
    12. Hailiang, Zeng & Chau, Ka Yin & Waqas, Muhammad, 2023. "Does green finance and renewable energy promote tourism for sustainable development: Empirical evidence from China," Renewable Energy, Elsevier, vol. 207(C), pages 660-671.

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