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How does carbon emission affect the economy?

The objective of the study is to determine the effect of carbon (CO2) emissions, energy consumption and the usage of renewable energy on the Gross Domestic Product. Using Malaysian data from 1990 to 2020, this study employs multivariate VAR estimation, namely the impulse response function and the To...

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Main Authors: Kam, Andrew Jia Y, Devadason, Evelyn S.
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2023
Online Access:http://journalarticle.ukm.my/22009/1/JeM_12.pdf
http://journalarticle.ukm.my/22009/
https://www.ukm.my/jem/view-articles/
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spelling my-ukm.journal.220092023-08-07T03:31:46Z http://journalarticle.ukm.my/22009/ How does carbon emission affect the economy? Kam, Andrew Jia Y Devadason, Evelyn S. The objective of the study is to determine the effect of carbon (CO2) emissions, energy consumption and the usage of renewable energy on the Gross Domestic Product. Using Malaysian data from 1990 to 2020, this study employs multivariate VAR estimation, namely the impulse response function and the Toda-Yamamoto Granger causality method to identify the relationships between the variables. The findings show a significant and reciprocal relationship between GDP and energy use. However, the consumption of renewable energy has little impact on the GDP due to the country's low levels of renewable energy consumption in comparison to its usage of fossil fuels. Since renewable energy plays a critical part in lowering carbon emissions, its usage needs to be intensified to fully have an impact on the economy. Hence, policies to reduce carbon emissions, such as incentives for adopting green technology and production standards, should be emphasized. Penerbit Universiti Kebangsaan Malaysia 2023 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/22009/1/JeM_12.pdf Kam, Andrew Jia Y and Devadason, Evelyn S. (2023) How does carbon emission affect the economy? Jurnal Ekonomi Malaysia, 57 (1). pp. 1-14. ISSN 0127-1962 https://www.ukm.my/jem/view-articles/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description The objective of the study is to determine the effect of carbon (CO2) emissions, energy consumption and the usage of renewable energy on the Gross Domestic Product. Using Malaysian data from 1990 to 2020, this study employs multivariate VAR estimation, namely the impulse response function and the Toda-Yamamoto Granger causality method to identify the relationships between the variables. The findings show a significant and reciprocal relationship between GDP and energy use. However, the consumption of renewable energy has little impact on the GDP due to the country's low levels of renewable energy consumption in comparison to its usage of fossil fuels. Since renewable energy plays a critical part in lowering carbon emissions, its usage needs to be intensified to fully have an impact on the economy. Hence, policies to reduce carbon emissions, such as incentives for adopting green technology and production standards, should be emphasized.
format Article
author Kam, Andrew Jia Y
Devadason, Evelyn S.
spellingShingle Kam, Andrew Jia Y
Devadason, Evelyn S.
How does carbon emission affect the economy?
author_facet Kam, Andrew Jia Y
Devadason, Evelyn S.
author_sort Kam, Andrew Jia Y
title How does carbon emission affect the economy?
title_short How does carbon emission affect the economy?
title_full How does carbon emission affect the economy?
title_fullStr How does carbon emission affect the economy?
title_full_unstemmed How does carbon emission affect the economy?
title_sort how does carbon emission affect the economy?
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2023
url http://journalarticle.ukm.my/22009/1/JeM_12.pdf
http://journalarticle.ukm.my/22009/
https://www.ukm.my/jem/view-articles/
_version_ 1773544663934828544
score 13.211869

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