Evaluating European Climate Policy Impact on the CO2 Emissions Per Capita Convergence Process in the European Union Countries

Dionisio Ramírez-Carrera (), Gemma Durán-Romero (), Ana M. López () and José Antonio Peña ()
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Dionisio Ramírez-Carrera: University of Castilla-La Mancha (UCLM), Spanish and International Economics (Applied Economics), Facultad de Derecho y Ciencias Sociales
Gemma Durán-Romero: Instituto Complutense de Estudios Internacionales (ICEI)
Ana M. López: Instituto L.R. Klein, Autonomous University of Madrid
José Antonio Peña: University of Castilla-La Mancha (UCLM), Facultad de Derecho y Ciencias Sociales

Chapter Chapter 15 in Advances in Empirical Economic Research, 2023, pp 235-256 from Springer

Abstract: Abstract Carbon dioxide (CO2) emission is considered the main reason for global warming and climate change. The European Union (EU) Environment Council recognized the need of limiting greenhouse gas emissions and considered that CO2 emissions should be significantly and immediately reduced. In this chapter, the effectiveness of European climate policies in reducing per capita CO2 emissions in European countries is evaluated using a convergence approach. We will examine the existence of stochastic convergence for CO2 emissions per capita in European Union countries by conducting a set of time series unit root tests between the years 1990 and 2018. We expect that, if European environmental policy has been successful, there will be a convergence process in the CO2 per capita emissions of all European countries. Our results suggest that there has been a convergence process in all the countries of the EU. In addition to this, applying the multiple breakpoint tests of Bai and Perron, we determine that the European climate policy has had a significant impact on the convergence process in most of the countries analyzed.

Keywords: Carbon dioxide emissions; Stochastic convergence; European Union; Climate policy; Structural change (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-22749-3_15

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DOI: 10.1007/978-3-031-22749-3_15

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