Economic Development, CO 2 Emissions and Energy Use Nexus-Evidence from the Danube Region Countries

Eva Litavcová and Jana Chovancová
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Eva Litavcová: Department of Mathematical Methods and Managerial Informatics, Faculty of Management, University of Prešov, 080 01 Prešov, Slovakia
Jana Chovancová: Department of Environmental Management, Faculty of Management, University of Prešov, 080 01 Prešov, Slovakia

Energies, 2021, vol. 14, issue 11, 1-23

Abstract: The aim of this study is to examine the empirical cointegration, long-run and short-run dynamics and causal relationships between carbon emissions, energy consumption and economic growth in 14 Danube region countries over the period of 1990–2019. The autoregressive distributed lag (ARDL) bounds testing methodology was applied for each of the examined variables as a dependent variable. Limited by the length of the time series, we excluded two countries from the analysis and obtained valid results for the others for 26 of 36 ARDL models. The ARDL bounds reliably confirmed long-run cointegration between carbon emissions, energy consumption and economic growth in Austria, Czechia, Slovakia, and Slovenia. Economic growth and energy consumption have a significant impact on carbon emissions in the long-run in all of these four countries; in the short-run, the impact of economic growth is significant in Austria. Likewise, when examining cointegration between energy consumption, carbon emissions, and economic growth in the short-run, a significant contribution of CO 2 emissions on energy consumptions for seven countries was found as a result of nine valid models. The results contribute to the information base essential for making responsible and informed decisions by policymakers and other stakeholders in individual countries. Moreover, they can serve as a platform for mutual cooperation and cohesion among countries in this region.

Keywords: economic growth; CO 2 emissions; Danube region countries; ARDL method (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
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