Full Lenght Article
Asymmetric Effects of Economic Growth on Carbon Emissions of Developed Countries: Evidence From Nonlinear Panel Autoregressive Distributed Lag Model

Under a Creative Commons license
Open Access


This study explores the asymmetric impact of economic growth on carbon emissions in developed countries by utilizing the panel data for the period 1990 to 2019. The current investigation considers the growth of developed countries to be an essential determinant of CO2 emissions. This study is the first of its kind to reveal the asymmetric connections between GDP and CO2 emissions by using the Westerlund panel co-integration and nonlinear panel auto-regressive distributive lag model. The findings support the fact that the impact of economic growth on CO2 emissions is significantly asymmetric. In the long run, positive GDP shocks will increase CO2 emissions in developed economies. Also, the positive shocks to GDP are correlated with CO2 emissions and other variables in a unidirectional way, except for renewable energy. Based on the given results quite a few policy recommendations were proposed in the concluding portion.


This study explores the asymmetric impact of economic growth on carbon emissions in developed countries by utilizing the panel data for the period 1990 to 2019. The current investigation considers the growth of developed countries to be an essential determinant of CO2 emissions. This study is the first of its kind to reveal the asymmetric connections between GDP and CO2 emissions by using the Westerlund panel co-integration and nonlinear panel auto-regressive distributive lag model. The findings support the fact that the impact of economic growth on CO2 emissions is significantly asymmetric. In the long run, positive GDP shocks will increase CO2 emissions in developed economies. Also, the positive shocks to GDP are correlated with CO2 emissions and other variables in a unidirectional way, except for renewable energy. Based on the given results quite a few policy recommendations were proposed in the concluding portion.


Gross domestic product
Effects of asymmetries
Co-integration of the Westerlund panel
ARDL's Nonlinear panel


Conflict of Interest Statement

The author (s) declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.


Download data is not yet available.


1. Abdollahi, H. (2020). Investigating Energy Use, Environment Pollution, and Economic Growth in Developing Countries. Environmental and Climate Technologies, 24(1). https://doi.org/10.2478/rtuect-2020-0016
2. Abdouli, M., & Hammami, S. (2020). Economic Growth, Environment, FDI Inflows, and Financial Development in Middle East Countries: Fresh Evidence from Simultaneous Equation Models. Journal of the Knowledge Economy, 11(2). https://doi.org/10.1007/s13132-018-0546-9
3. Acheampong, A. O. (2018). Economic growth, CO2 emissions and energy consumption: What causes what and where? Energy Economics, 74. https://doi.org/10.1016/j.eneco.2018.07.022
4. Ahn, S. C., Lee, Y. H., & Schmidt, P. (2001). GMM estimation of linear panel data models with time-varying individual effects. Journal of Econometrics, 101(2). https://doi.org/10.1016/S0304-4076(00)00083-X
5. Akram, R., Chen, F., Khalid, F., Ye, Z., & Majeed, M. T. (2020). Heterogeneous effects of energy efficiency and renewable energy on carbon emissions: Evidence from developing countries. Journal of Cleaner Production, 247. https://doi.org/10.1016/j.jclepro.2019.119122
6. Ali, H. S., Hook, L. S., & Yusop, Z. Bin. (2015). Financial development and energy consumption nexus in Nigeria: An application of autoregressive distributed lag bound testing approach. International Journal of Energy Economics and Policy, 5(3).
7. Ang, B. W., & Zhang, F. Q. (2000). A survey of index decomposition analysis in energy and environmental studies. Energy, 25(12). https://doi.org/10.1016/S0360-5442(00)00039-6
8. Ang, J. B. (2007). CO2 emissions, energy consumption, and output in France. Energy Policy, 35(10). https://doi.org/10.1016/j.enpol.2007.03.032
9. Antle, J. M., & Heidebrink, G. (1995). Environment and development: theory and international evidence. Economic Development & Cultural Change, 43(3). https://doi.org/10.1086/452171
10. Apergis, N., & Garćıa, C. (2019). Environmentalism in the EU-28 context: the impact of governance quality on environmental energy efficiency. Environmental Science and Pollution Research, 26(36). https://doi.org/10.1007/s11356-019-06600-1
11. Bahmani-Oskooee, M., & Fariditavana, H. (2016). Nonlinear ARDL Approach and the J-Curve Phenomenon. Open Economies Review, 27(1). https://doi.org/10.1007/s11079-015-9369-5
12. Balsalobre-Lorente, D., Driha, O. M., Bekun, F. V., & Osundina, O. A. (2019). Do agricultural activities induce carbon emissions? The BRICS experience. Environmental Science and Pollution Research, 26(24). https://doi.org/10.1007/s11356-019-05737-3
13. Balsalobre-Lorente, D., Gokmenoglu, K. K., Taspinar, N., & Cantos-Cantos, J. M. (2019). An approach to the pollution haven and pollution halo hypotheses in MINT countries. Environmental Science and Pollution Research, 26(22). https://doi.org/10.1007/s11356-019-05446-x
14. Bangake, C., & Eggoh, J. C. (2012). Pooled Mean Group estimation on international capital mobility in African countries. Research in Economics, 66(1). https://doi.org/10.1016/j.rie.2011.06.001
15. Bayar, Y., & Gavriletea, M. D. (2019). Energy efficiency, renewable energy, economic growth: evidence from emerging market economies. Quality and Quantity. https://doi.org/10.1007/s11135-019-00867-9
16. Baz, K., Xu, D., Ampofo, G. M. K., Ali, I., Khan, I., Cheng, J., & Ali, H. (2019). Energy consumption and economic growth nexus: New evidence from Pakistan using asymmetric analysis. Energy, 189. https://doi.org/10.1016/j.energy.2019.116254
17. Behera, J., & Mishra, A. K. (2020). Renewable and non-renewable energy consumption and economic growth in G7 countries: evidence from panel autoregressive distributed lag (P-ARDL) model. International Economics and Economic Policy, 17(1), 241–258. https://doi.org/10.1007/s10368-019-00446-1
18. Ben, F., Atil, A., Ben Bouheni, F., Lahiani, A., & Shahbaz, M. (2019). Munich Personal RePEc Archive Factors influencing CO2 Emission in China: A Nonlinear Autoregressive Distributed Lags Investigation Factors influencing CO2 Emission in China: A Nonlinear Autoregressive Distributed Lags Investigation.
19. Birdsall, N., & Wheeler, D. (1993). Trade Policy and Industrial Pollution in Latin America: Where Are the Pollution Havens? The Journal of Environment & Development, 2(1). https://doi.org/10.1177/107049659300200107
20. Carfora, A., Pansini, R. V., & Scandurra, G. (2019). The causal relationship between energy consumption, energy prices and economic growth in Asian developing countries: A replication. Energy Strategy Reviews, 23. https://doi.org/10.1016/j.esr.2018.12.004
21. Chen, Q., & Taylor, D. (2020). Economic development and pollution emissions in Singapore: Evidence in support of the Environmental Kuznets Curve hypothesis and its implications for regional sustainability. Journal of Cleaner Production, 243. https://doi.org/10.1016/j.jclepro.2019.118637
22. Claessens, S., & Feijen, E. (2006). Financial sector development and the millennium development goals. In World Bank Working Paper (Issue 89). https://doi.org/10.2139/ssrn.950269
23. Cropper, M., & Griffiths, C. (1994). The interaction of population growth and environmental quality. American Economic Review, 84(2). https://doi.org/10.2307/2117838
24. Danish, Hassan, S. T., Baloch, M. A., Mahmood, N., & Zhang, J. W. (2019). Linking economic growth and ecological footprint through human capital and biocapacity. Sustainable Cities and Society, 47. https://doi.org/10.1016/j.scs.2019.101516
25. Dasgupta, S., Hong, J. H., Laplante, B., & Mamingi, N. (2006). Disclosure of environmental violations and stock market in the Republic of Korea. Ecological Economics, 58(4). https://doi.org/10.1016/j.ecolecon.2005.09.003
26. Dasgupta, S., Laplante, B., & Mamingi, N. (2001). Pollution and capital markets in developing countries. Journal of Environmental Economics and Management, 42(3). https://doi.org/10.1006/jeem.2000.1161
27. Doğan, B., Driha, O. M., Balsalobre Lorente, D., & Shahzad, U. (2020). The mitigating effects of economic complexity and renewable energy on carbon emissions in developed countries. Sustainable Development. https://doi.org/10.1002/sd.2125
28. Dong, K., Sun, R., & Dong, X. (2018). CO2 emissions, natural gas and renewables, economic growth: Assessing the evidence from China. Science of the Total Environment, 640–641. https://doi.org/10.1016/j.scitotenv.2018.05.322
29. Dong, K., Sun, R., & Hochman, G. (2017). Do natural gas and renewable energy consumption lead to less CO2 emission? Empirical evidence from a panel of BRICS countries. Energy, 141. https://doi.org/10.1016/j.energy.2017.11.092
30. Dong, K., Sun, R., Jiang, H., & Zeng, X. (2018). CO2 emissions, economic growth, and the environmental Kuznets curve in China: What roles can nuclear energy and renewable energy play? Journal of Cleaner Production, 196. https://doi.org/10.1016/j.jclepro.2018.05.271
31. Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4). https://doi.org/10.1016/j.econmod.2012.02.014
32. Dutta, A., Bouri, E., & Roubaud, D. (2019). Nonlinear relationships amongst the implied volatilities of crude oil and precious metals. Resources Policy, 61. https://doi.org/10.1016/j.resourpol.2018.04.009
33. Espa, I., & Holzer, K. (2018). Negotiating 21st century rules on energy: What is at stake for the European Union, the United States and the BRICS? In Journal of World Investment and Trade (Vol. 19, Issue 3). https://doi.org/10.1163/22119000-12340095
34. European Commission - The Joint Research Centre. (2015). Input-output economics - JRC Science Hub - European Commission. European Commission - The Joint Research Centre , 14. October.
35. Goldemberg, J. (1998). Viewpoint Leapfrog energy technologies. Energy Policy, 26(10).
36. Grove, R. H. (1992). Origins of Western environmentalism. Scientific American, 267(1). https://doi.org/10.1038/scientificamerican0792-42
37. Haug, A. A., & Ucal, M. (2019). The role of trade and FDI for CO2 emissions in Turkey: Nonlinear relationships. Energy Economics, 81. https://doi.org/10.1016/j.eneco.2019.04.006
38. Heidari, H., Turan Katircioǧlu, S., & Saeidpour, L. (2015). Economic growth, CO2 emissions, and energy consumption in the five ASEAN countries. International Journal of Electrical Power and Energy Systems, 64. https://doi.org/10.1016/j.ijepes.2014.07.081
39. Hettige, H., Lucas, R., & Wheeler, D. (1992). The Toxic Intensity of Industrial Production: Global Patterns, Trends, and Trade Policy. The American Economic Review, 82(2). https://doi.org/10.2307/2117448
40. Isik, C., Dogru, T., & Turk, E. S. (2018). A nexus of linear and non-linear relationships between tourism demand, renewable energy consumption, and economic growth: Theory and evidence. International Journal of Tourism Research, 20(1). https://doi.org/10.1002/jtr.2151
41. John, A., & Pecchenino, R. (2017). An overlapping generations model of growth and the environment. In Distributional Effects of Environmental and Energy Policy. https://doi.org/10.4324/9781315257570-7
42. Jones, L. E., & Manuelli, R. E. (2001). Endogenous Policy Choice: The Case of Pollution and Growth. Review of Economic Dynamics, 4(2). https://doi.org/10.1006/redy.2000.0118
43. Kahneman, D., & Tversky, A. (2018). Prospect theory: An analysis of decision under risk. In Experiments in Environmental Economics (Vol. 1). https://doi.org/10.2307/1914185
44. Kahuthu, A. (2006). Economic growth and environmental degradation in a global context. Environment, Development and Sustainability, 8(1). https://doi.org/10.1007/s10668-005-0785-3
45. Kapetanios, G., Pesaran, M. H., & Yamagata, T. (2011). Panels with non-stationary multifactor error structures. Journal of Econometrics, 160(2). https://doi.org/10.1016/j.jeconom.2010.10.001
46. Kasman, A., & Duman, Y. S. (2015). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: A panel data analysis. Economic Modelling, 44. https://doi.org/10.1016/j.econmod.2014.10.022
47. Khan, M. K., Khan, M. I., & Rehan, M. (2020). The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan. Financial Innovation, 6(1). https://doi.org/10.1186/s40854-019-0162-0
48. Khan, S., Peng, Z., & Li, Y. (2019). Energy consumption, environmental degradation, economic growth and financial development in globe: Dynamic simultaneous equations panel analysis. Energy Reports, 5. https://doi.org/10.1016/j.egyr.2019.08.004
49. Kim, D., & Perron, P. (2009). Unit root tests allowing for a break in the trend function at an unknown time under both the null and alternative hypotheses. Journal of Econometrics, 148(1). https://doi.org/10.1016/j.jeconom.2008.08.019
50. Kolstad, C. D., & Krautkraemer, J. A. (1993). Natural resource use and the environment. In Handbook of Natural Resource and Energy Economics (Vol. 3, Issue C). https://doi.org/10.1016/S1573-4439(05)80013-2
51. Kouton, J. (2019). The asymmetric linkage between energy use and economic growth in selected African countries: Evidence from a nonlinear panel autoregressive distributed lag model. Energy Economics, 83, 475–490. https://doi.org/10.1016/j.eneco.2019.08.006
52. Kumbaroǧlu, G., Karali, N., & Arikan, Y. (2008). CO2, GDP and RET: An aggregate economic equilibrium analysis for Turkey. Energy Policy, 36(7). https://doi.org/10.1016/j.enpol.2008.03.026
53. Lanoie, P., Laplante, B., & Roy, M. (1998). Can capital markets create incentives for pollution control? Ecological Economics, 26(1). https://doi.org/10.1016/S0921-8009(97)00057-8
54. Lau, L. S., Choong, C. K., Ng, C. F., Liew, F. M., & Ching, S. L. (2019). Is nuclear energy clean? Revisit of Environmental Kuznets Curve hypothesis in OECD countries. Economic Modelling, 77. https://doi.org/10.1016/j.econmod.2018.09.015
55. Liu, X., Zhang, S., & Bae, J. (2017). The nexus of renewable energy-agriculture-environment in BRICS. Applied Energy, 204. https://doi.org/10.1016/j.apenergy.2017.07.077
56. Mahjabeen, Shah, S. Z. A., Chughtai, S., & Simonetti, B. (2020). Renewable energy, institutional stability, environment and economic growth nexus of D-8 countries. Energy Strategy Reviews, 29. https://doi.org/10.1016/j.esr.2020.100484
57. Mahmood, H., Maalel, N., & Zarrad, O. (2019). Trade openness and CO2 emissions: Evidence from Tunisia. Sustainability (Switzerland), 11(12). https://doi.org/10.3390/su10023295
58. Malik, M. Y., Latif, K., Khan, Z., Butt, H. D., Hussain, M., & Nadeem, M. A. (2020). Symmetric and asymmetric impact of oil price, FDI and economic growth on carbon emission in Pakistan: Evidence from ARDL and non-linear ARDL approach. Science of the Total Environment, 726. https://doi.org/10.1016/j.scitotenv.2020.138421
59. Mardani, A., Streimikiene, D., Cavallaro, F., Loganathan, N., & Khoshnoudi, M. (2019). Carbon dioxide (CO2) emissions and economic growth: A systematic review of two decades of research from 1995 to 2017. In Science of the Total Environment (Vol. 649). https://doi.org/10.1016/j.scitotenv.2018.08.229
60. Musibau, H. O., Shittu, W. O., & Ogunlana, F. O. (2020). The relationship between environmental degradation, energy use and economic growth in Nigeria: new evidence from non-linear ARDL. International Journal of Energy Sector Management. https://doi.org/10.1108/IJESM-04-2019-0016
61. Nathaniel, S. P. (2020). Ecological footprint, energy use, trade, and urbanization linkage in Indonesia. GeoJournal. https://doi.org/10.1007/s10708-020-10175-7
62. Nordhaus, W. D. (1992). Lethal model 2: the limits to growth revisited. Brookings Papers on Economic Activity, 1992(2), 1–59. https://doi.org/10.2307/2534581
63. Nosheen, M., Iqbal, J., & Hassan, S. A. (2019). Economic growth, financial development, and trade in nexuses of CO2 emissions for Southeast Asia. Environmental Science and Pollution Research, 26(36). https://doi.org/10.1007/s11356-019-06624-7
64. Ntarmah, A. H., Kong, Y., & Manu, E. K. (2020). Investigating the dynamic relationships between credit supply, economic growth, and the environment: empirical evidence of sub-regional economies in Sub-Saharan Africa. Environmental Science and Pollution Research. https://doi.org/10.1007/s11356-020-10875-0
65. OKUMUŞ, İ., & BOZKURT, C. (2020). The Effects of Economic Growth on Environment for Different Income Group Countries. Gaziantep University Journal of Social Sciences, 19(1). https://doi.org/10.21547/jss.593962
66. Omoke, P. C., Opuala-Charles, S., & Nwani, C. (2020). Symmetric and asymmetric effects of financial development on carbon dioxide emissions in Nigeria: Evidence from linear and nonlinear autoregressive distributed lag analyses. Energy Exploration and Exploitation, 38(5), 2059–2078. https://doi.org/10.1177/0144598720939377
67. Onishi, A., Al-mulali, U., Weng-Wai, C., Sheau-Ting, L., Mohammed, A. H., Consumption, E., Lise, W., Van Montfort, K., Development, E., Omri, A., Kahouli, B., Kuznets, S., Omri, A., Stern, D. I., Common, M. S., Barbier, E. B., Onafowora, O. a., Owoye, O., Papell, D. H., … Sulaiman, J. (2012). On the Relationship between Co2 Emissions and Economic Growth : The Mauritian Experience. Energy Policy, 2(4).
68. Ozcan, B., Tzeremes, P. G., & Tzeremes, N. G. (2020). Energy consumption, economic growth and environmental degradation in OECD countries. Economic Modelling, 84. https://doi.org/10.1016/j.econmod.2019.04.010
69. Panayotou, T. (1997). Demystifying the environmental Kuznets curve: Turning a black box into a policy tool. Environment and Development Economics, 2(4). https://doi.org/10.1017/S1355770X97000259
70. Pao, H. T., & Tsai, C. M. (2011). Multivariate Granger causality between CO2 emissions, energy consumption, FDI (foreign direct investment) and GDP (gross domestic product): Evidence from a panel of BRIC (Brazil, Russian Federation, India, and China) countries. Energy, 36(1). https://doi.org/10.1016/j.energy.2010.09.041
71. Pata, U. K. (2018). Renewable energy consumption, urbanization, financial development, income and CO2 emissions in Turkey: Testing EKC hypothesis with structural breaks. Journal of Cleaner Production, 187. https://doi.org/10.1016/j.jclepro.2018.03.236
72. Pata, U. K., & Aydin, M. (2020). Testing the EKC hypothesis for the top six hydropower energy-consuming countries: Evidence from Fourier Bootstrap ARDL procedure. Journal of Cleaner Production, 264. https://doi.org/10.1016/j.jclepro.2020.121699
73. Pegkas, P. (2020). Interrelationships between tourism, energy, environment and economic growth in Greece. Anatolia. https://doi.org/10.1080/13032917.2020.1795893
74. Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. In Econometrica (Vol. 74, Issue 4). https://doi.org/10.1111/j.1468-0262.2006.00692.x
75. Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22(2). https://doi.org/10.1002/jae.951
76. Pesaran, & M.H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics, 435.
77. Po, W. C., & Huang, B. N. (2008). Tourism development and economic growth-a nonlinear approach. Physica A: Statistical Mechanics and Its Applications, 387(22), 5535–5542. https://doi.org/10.1016/j.physa.2008.05.037
78. Press, T. M. I. T., & Journal, T. Q. (2010). Economic Growth and the Environment Author ( s ): Gene M . Grossman and Alan B . Krueger Published by : The MIT Press Stable URL : http://www.jstor.org/stable/2118443. Gene, 110(2), 353–377.
79. Ran, Q., Zhang, J., & Hao, Y. (2020). Does environmental decentralization exacerbate China’s carbon emissions? Evidence based on dynamic threshold effect analysis. Science of the Total Environment, 721. https://doi.org/10.1016/j.scitotenv.2020.137656
80. Reilly, J. M. (2012). Green growth and the efficient use of natural resources. Energy Economics, 34(SUPPL.1). https://doi.org/10.1016/j.eneco.2012.08.033
81. Sadath, A. C., & Acharya, R. H. (2019). Economic growth and environmental degradation: How to balance the interests of developed and developing countries. In Economics and Policy of Energy and the Environment (Issue 2). https://doi.org/10.3280/EFE2019-002002
82. Saidi, K., & Hammami, S. (2016). Economic growth, energy consumption and carbone dioxide emissions: Recent evidence from panel data analysis for 58 countries. Quality and Quantity, 50(1). https://doi.org/10.1007/s11135-014-0153-1
83. Salisu, A. A., & Isah, K. O. (2017). Revisiting the oil price and stock market nexus: A nonlinear Panel ARDL approach. Economic Modelling, 66. https://doi.org/10.1016/j.econmod.2017.07.010
84. Salman, M., Long, X., Dauda, L., Mensah, C. N., & Muhammad, S. (2019). Different impacts of export and import on carbon emissions across 7 ASEAN countries: A panel quantile regression approach. Science of the Total Environment, 686. https://doi.org/10.1016/j.scitotenv.2019.06.019
85. Selden, T. M., & Song, D. (1994). Environmental quality and development: Is there a kuznets curve for air pollution emissions? Journal of Environmental Economics and Management, 27(2). https://doi.org/10.1006/jeem.1994.1031
86. Şentürk, H., Omay, T., Yildirim, J., & Köse, N. (2020). Environmental Kuznets Curve: Non-Linear Panel Regression Analysis. Environmental Modeling and Assessment, 25(5). https://doi.org/10.1007/s10666-020-09702-0
87. Shafik, N. (1994). Economic development and environmental quality: An econometric analysis. Oxford Economic Papers, 46. https://doi.org/10.1093/oep/46.Supplement_1.757
88. Shafik, N., & Bandyopadhyay, S. (1992). Economic growth and environmental quality: time series and cross-country evidence. Policy Research Working Paper Series, 18(5).
89. Shahbaz, M., Haouas, I., & Hoang, T. H. Van. (2019). Economic growth and environmental degradation in Vietnam: Is the environmental Kuznets curve a complete picture? Emerging Markets Review, 38. https://doi.org/10.1016/j.ememar.2018.12.006
90. Shahbaz, M., Hoang, T. H. Van, Mahalik, M. K., & Roubaud, D. (2017). Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis. Energy Economics, 63. https://doi.org/10.1016/j.eneco.2017.01.023
91. Shao, Q., Wang, X., Zhou, Q., & Balogh, L. (2019). Pollution haven hypothesis revisited: A comparison of the BRICS and MINT countries based on VECM approach. Journal of Cleaner Production, 227. https://doi.org/10.1016/j.jclepro.2019.04.206
92. Sharif, A., Godil, D. I., Xu, B., Sinha, A., Rehman Khan, S. A., & Jermsittiparsert, K. (2020). Revisiting the role of tourism and globalization in environmental degradation in China: Fresh insights from the quantile ARDL approach. Journal of Cleaner Production, 272. https://doi.org/10.1016/j.jclepro.2020.122906
93. Shaw, C. G., Everest, F. H., Swanston, D. N., Blackwell, B. F., DeVault, T. L., Fernández-Juricic, E., Dolbeer, R. A., Pérez-Arteaga, A., Gaston, K. J., Bardsley, D. K., Weber, D., Robinson, G. M., Moskwa, E., Bardsley, A. M., Admiraal, H., Cornaro, A., Figueiroa, A. C., Scherer, M. E., Turkelboom, F., … Day, J. C. (2018). Ecological functionality of open spaces and physical planning in metropolitan areas: theoretical approaches and recent experiences in the Spanish context. Landscape and Urban Planning, 9(1).
94. Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2012). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1807745
95. Siddique, H. M. A., & Majeed, M. T. (2015). Energy Consumption, Economic Growth, Trade and Financial Development Nexus in South Asia. Pakistan Journal of Commerce and Social Sciences, 9(2).
96. Stokey, N. L. (1998). Are There Limits to Growth? International Economic Review, 39(1), 1. https://doi.org/10.2307/2527228
97. Taşkın, D., Vardar, G., & Okan, B. (2020). Does renewable energy promote green economic growth in OECD countries? Sustainability Accounting, Management and Policy Journal, 11(4). https://doi.org/10.1108/SAMPJ-04-2019-0192
98. Torras, M., & Boyce, J. K. (1998). Income, inequality, and pollution: A reassessment of the environmental Kuznets curve. Ecological Economics, 25(2). https://doi.org/10.1016/S0921-8009(97)00177-8
99. Tugcu, C. T., & Topcu, M. (2018). Total, renewable and non-renewable energy consumption and economic growth: Revisiting the issue with an asymmetric point of view. Energy, 152. https://doi.org/10.1016/j.energy.2018.03.128
100. Uddin, G. A., Salahuddin, M., Alam, K., & Gow, J. (2017). Ecological footprint and real income: Panel data evidence from the 27 highest emitting countries. Ecological Indicators, 77. https://doi.org/10.1016/j.ecolind.2017.01.003
101. Umar, M., Ji, X., Kirikkaleli, D., Shahbaz, M., & Zhou, X. (2020). Environmental cost of natural resources utilization and economic growth: Can China shift some burden through globalization for sustainable development? Sustainable Development. https://doi.org/10.1002/sd.2116
102. Wagner, J., J, É. B. Ì. I. É. Í. A. J. Æ., Classification, J. E. L., Words, K., Paper, W., Trade, I., Manual, I., Hallward-driemeier, M., Wallsten, S., Xu, L. C., Discussion, P. R. I., Series, P., Blomström, M., Kokko, A., Score, P., Model, M., Classification, J. E. L., Lu, Y. Y., Sun, S. L. S., … Romalis, J. (2001). International Economics: Theory and Policy, Global Edition. European Economic Review, 45(2).
103. Wang, S. S., Zhou, D. Q., Zhou, P., & Wang, Q. W. (2011). CO2 emissions, energy consumption and economic growth in China: A panel data analysis. Energy Policy, 39(9). https://doi.org/10.1016/j.enpol.2011.06.032
104. Waqih, M. A. U., Bhutto, N. A., Ghumro, N. H., Kumar, S., & Salam, M. A. (2019). Rising environmental degradation and impact of foreign direct investment: An empirical evidence from SAARC region. Journal of Environmental Management, 243. https://doi.org/10.1016/j.jenvman.2019.05.001
105. Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6). https://doi.org/10.1111/j.1468-0084.2007.00477.x
106. Wu, C. F., Li, F., Hsueh, H. P., Wang, C. M., Lin, M. C., & Chang, T. (2020). A dynamic relationship between environmental degradation, healthcare expenditure and economic growth in wavelet analysis: Empirical evidence from Taiwan. International Journal of Environmental Research and Public Health, 17(4). https://doi.org/10.3390/ijerph17041386
107. Zameer, H., Yasmeen, H., Zafar, M. W., Waheed, A., & Sinha, A. (2020). Analyzing the association between innovation, economic growth, and environment: divulging the importance of FDI and trade openness in India. Environmental Science and Pollution Research, 27(23). https://doi.org/10.1007/s11356-020-09112-5

Bibliographic Information

Verify authenticity via CrossMark

Cite this article as:

Saleem, S. ., Ali, D. A. ., & Khan, J. . (2022). Asymmetric Effects of Economic Growth on Carbon Emissions of Developed Countries: Evidence From Nonlinear Panel Autoregressive Distributed Lag Model. Middle European Scientific Bulletin, 26, 23-49. Retrieved from https://cejsr.academicjournal.io/index.php/journal/article/view/1438
  • Submitted
    6 July 2022
  • Revised
    6 July 2022
  • Published
    6 July 2022