The Volatility Assessment of CO2 Emissions in Uzbekistan: ARCH/GARCH Models

Bekhzod Kuziboev, Petra Vysušilová, Raufhon Salahodjaev, Alibek Rajabov and Tukhtabek Rakhimov
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Bekhzod Kuziboev: Department of Economics, Urgench State University, Urgench, Uzbekistan; & Department of Trade, Tourism and Languages, Faculty of Economics, University of South Bohemia, Czech Republic,
Petra Vysušilová: Department of Trade, Tourism and Languages, Faculty of Economics, University of South Bohemia, Czech Republic,
Alibek Rajabov: Department of Economics, Urgench State University, Urgench, Uzbekistan,
Tukhtabek Rakhimov: Department of Economics, Urgench State University, Urgench, Uzbekistan,

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 5, 1-7

Abstract: The study is pioneer to investigate the volatility of CO2 emissions in Uzbekistan. To this end, ARCH (Autoregressive Conditional Heteroskedasticity) and GARCH (Generalized Autoregressive Conditional Heteroskedasticity) models are used spanning the period 1925-2021 for the annual data of CO2 emissions. The results indicate that ARCH model is more adequate that GARCH model in the volatility assessment. Furthermore, it is found that the volatility of CO2 emissions in Uzbekistan is very high. The policymakers have to consider the high volatility of CO2 emissions in the environmental policy measures dedicated to reduce carbon dioxide emissions.

Keywords: CO2 Emissions; Volatility; ARCH; GARCH; Uzbekistan (search for similar items in EconPapers)
JEL-codes: C22 C5 Q53 Q58 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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