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
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
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DOI：
10.1016/j.energy.2010.09.041
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发表时间：
2011-01-01
期刊：
影响因子：
9
通讯作者：
Tsai, Chung-Ming
中科院分区：
文献类型：
--
作者：
Pao, Hsiao-Tien;Tsai, Chung-Ming
本文运用面板协整技术研究了1980年至2007年期间（俄罗斯为1992年 - 2007年）经济增长和金融发展对环境退化的影响。从长期均衡来看，二氧化碳排放似乎对能源消费有弹性，而对外国直接投资无弹性，研究结果似乎支持环境库兹涅茨曲线（EKC）假说。因果关系结果表明，排放与外国直接投资之间存在强烈的双向因果关系，从产出到外国直接投资存在单向的强烈因果关系。证据似乎支持污染避难所假说以及光环效应和规模效应。因此，在吸引外国直接投资时，发展中国家应严格审查外国投资的资质，或者通过与外国公司协调技术诀窍和技术转让来促进环境保护，以避免环境破坏。此外，产出与排放以及产出与能源消费之间存在强烈的双向因果关系，而从能源消费到排放存在单向的强烈因果关系。总体而言，能源依赖型的金砖国家可以采用既管理能源需求和外国直接投资，又增加能源供应投资和能源效率的方法来减少二氧化碳排放，同时不损害国家竞争力。（C）2010爱思唯尔有限公司。保留所有权利。
This paper addresses the impact of both economic growth and financial development on environmental degradation using a panel cointegration technique for the period between 1980 and 2007, except for Russia (1992-2007). In long-run equilibrium, CO2 emissions appear to be energy consumption elastic and FDI inelastic, and the results seem to support the Environmental Kuznets Curve (EKC) hypothesis. The causality results indicate that there exists strong bidirectional causality between emissions and FDI and unidirectional strong causality running from output to FDI. The evidence seems to support the pollution haven and both the halo and scale effects. Therefore, in attracting FDI, developing countries should strictly examine the qualifications for foreign investment or to promote environmental protection through the coordinated know-how and technological transfer with foreign companies to avoid environmental damage. Additionally, there exists strong output-emissions and output-energy consumption bidirectional causality, while there is unidirectional strong causality running from energy consumption to emissions. Overall, the method of managing both energy demand and FDI and increasing both investment in the energy supply and energy efficiency to reduce CO2 emissions and without compromising the country's competitiveness can be adopted by energy-dependent BRIC countries. (C) 2010 Elsevier Ltd. All rights reserved.