The impact of renewable and nonrenewable energy on carbon dioxide emissions for OECD countries

The levels of carbon dioxide (CO2) have continued to rise in spite of international agreements that have tried to limit emissions. Researchers therefore have increasingly sought to discover the patterns behind this growth in CO2 to provide clear direction to countries pursuing ways to decrease the concentrations of carbon dioxide. We thus build on earlier studies to further evaluate how diverse factors, especially energy use, can possibly influence CO2 emission rates. We utilize the World Development indicators to build a dataset for OECD countries from the years 1990 to 2015. We use the Arellano-Bover/Blundell-Bond Generalized Method of Moments (GMM) estimator for our equation as it is a more rigorous and improved econometric technique, particularly for dynamic data. We therefore investigate how economic growth, population growth, trade, urbanization, renewable energy use, and nonrenewable energy use impact carbon dioxide emissions for the OECD countries.