CO2 Emissions, Economic Growth, and Per Capita Income in Vietnam from a Green Economy Perspective

Nguyen Thi Van Anh, Hoang Thanh Tung, Dinh Nguyen Van Khanh, Truong Thi Tuyet, Nguyen Hoang Bach and Ngo Bao Cha

World Economics, 2026, vol. 27, issue 3, 151-182

Abstract: This study investigates the relationship between CO2 emissions, economic growth, and per capita income in Vietnam from 1995 to 2025 using the Environmental Kuznets Curve (EKC) hypothesis from a green economy perspective. It employs time-series data from the World Bank, Vietnam's General Statistics Office, and World Development Indicators, applying econometric methods including the Augmented Dickey-Fuller unit root test, Engle-Granger cointegration test, OLS, FMOLS, and ARDL models. The empirical findings confirm an inverted U-shaped EKC for both GDP and per capita income in Vietnam, showing that in early industrialization stages, economic growth and rising incomes increase environmental degradation, but emissions decline after a turning point due to scale, structural, and technological effects. The research highlights Vietnam's transition from a traditional brown growth model to a green economy through the adoption of clean technologies. Based on the results, the study recommends policies to accelerate the green transition, including carbon footprint control strategies, renewable energy restructuring, clean technology innovation in production, and promoting green consumer behavior to balance income growth with pollution reduction and achieve Net-Zero emissions by 2050.

Date: 2026
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