The Relationship Between Inflation, Human Development Index and CO2 in Selected Country Groups

Ufuk Alkan, Canan Dağıdır Çakan, Aykut Şengül and Hanifi Ateş
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Ufuk Alkan: Marmara University
Canan Dağıdır Çakan: Marmara University
Aykut Şengül: Marmara University
Hanifi Ateş: Marmara University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2024, vol. 39, issue 122, 79-109

Abstract: UNDP report observes that countries with a high Human Development Index (HDI) are industrialized nations. It is well-known that industrialization leads to high carbon dioxide (CO2) emissions. These countries also experience low inflation rates due to their high production volumes. In light of this information, this study aims to empirically investigate the complex relationship between inflation, HDI, and CO2 across different country groups. The study employs panel data analysis over the period from 1994 to 2021, focusing on specific subdivisions within country groups (OECD, G20, EU, developed, high-income, and low-income countries). The results reveal a linear relationship between HDI and CO2 and an inverse relationship between inflation and CO2, providing policy recommendations based on these findings.

Keywords: Inflation; Carbon Emissions; Human Development Index; Panel Data Analysis (search for similar items in EconPapers)
JEL-codes: C23 H62 O15 Q50 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:39:y:2024:i:122:p:79-109

DOI: 10.33203/mfy.1442703

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