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Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)

Carbon; Economic analysis; Energy utilization; Taxation; Cross sectional dependence; Estimation techniques; Geopolitical risks; Panel co integrations; Renewable energy policy; Second generation; Serial correlation; Slope heterogeneity; Economic and social effects

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Main Authors: Adeneye Y.B., Jaaffar A.H., Ooi C.A., Ooi S.K.
Other Authors: 57218564506
Format: Article
Published: Frontiers Media S.A. 2023
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spelling my.uniten.dspace-263162023-05-29T17:09:01Z Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG) Adeneye Y.B. Jaaffar A.H. Ooi C.A. Ooi S.K. 57218564506 57192684524 55999134600 56592006700 Carbon; Economic analysis; Energy utilization; Taxation; Cross sectional dependence; Estimation techniques; Geopolitical risks; Panel co integrations; Renewable energy policy; Second generation; Serial correlation; Slope heterogeneity; Economic and social effects This study investigates the dynamic relationships between carbon emission, urbanization, energy consumption, and economic growth in a panel of 42 Asian countries for the period 2000�2014 using dynamic common correlated effects panel data modeling. This study employs second generation cross-sectional Pesaran (J. Appl. Econom., 2007, 22(2), 265-312) panel unit root, Westerlund panel cointegration tests (Econom. Stat., 2007, 69(6), 709-748), and Pesaran�s (Econometrica, 2006, 74(4), 967-1012) common correlated effects mean group estimation technique. These approaches allow for cross-sectional dependence, and are robust to the presence of common factors, serial correlation, and slope heterogeneity. The Common Correlated Effect Mean Group test reveals a high average coefficient of 0.602 between carbon emission and energy consumption while low coefficients of 0.114 and 0.184 for the pairs of carbon emission-urbanization and carbon emission-GDP, respectively for the panel as a whole, suggesting a cointegration between carbon emission, urbanization, energy consumption, and economic growth. The results indicate that there is relatively high carbon emission especially for highly populated and geopolitical risk Asian countries in the short run. Findings reveal long run relationships between the variables, which is attributed to the on-going carbon taxation and energy prices. Our results are robust to PMG-ARDL estimator. Overall, these findings cast important implications on renewable energy policy and urban planning insights for the policymakers. � Copyright � 2021 Adeneye, Jaaffar, Ooi and Ooi. Final 2023-05-29T09:09:01Z 2023-05-29T09:09:01Z 2021 Article 10.3389/fenrg.2020.610577 2-s2.0-85102121514 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85102121514&doi=10.3389%2ffenrg.2020.610577&partnerID=40&md5=0c2a3e39962af37c630f02ab89911758 https://irepository.uniten.edu.my/handle/123456789/26316 8 610577 All Open Access, Gold Frontiers Media S.A. Scopus
institution Universiti Tenaga Nasional
building UNITEN Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tenaga Nasional
content_source UNITEN Institutional Repository
url_provider http://dspace.uniten.edu.my/
description Carbon; Economic analysis; Energy utilization; Taxation; Cross sectional dependence; Estimation techniques; Geopolitical risks; Panel co integrations; Renewable energy policy; Second generation; Serial correlation; Slope heterogeneity; Economic and social effects
author2 57218564506
author_facet 57218564506
Adeneye Y.B.
Jaaffar A.H.
Ooi C.A.
Ooi S.K.
format Article
author Adeneye Y.B.
Jaaffar A.H.
Ooi C.A.
Ooi S.K.
spellingShingle Adeneye Y.B.
Jaaffar A.H.
Ooi C.A.
Ooi S.K.
Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
author_sort Adeneye Y.B.
title Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
title_short Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
title_full Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
title_fullStr Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
title_full_unstemmed Nexus Between Carbon Emissions, Energy Consumption, Urbanization and Economic Growth in Asia: Evidence From Common Correlated Effects Mean Group Estimator (CCEMG)
title_sort nexus between carbon emissions, energy consumption, urbanization and economic growth in asia: evidence from common correlated effects mean group estimator (ccemg)
publisher Frontiers Media S.A.
publishDate 2023
_version_ 1806426346806575104
score 13.211869

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