Testing the globalization-driven carbon emissions hypothesis: International evidence
Muhammad Shahbaz (),
Mantu Mahalik (),
Syed Jawad Hussain Shahzad () and
International Economics, 2019, vol. 158, issue C, 25-38
We empirically investigate the dynamic relationship between globalization and CO2 emissions for 87 (high, middle and low-income) countries. We utilize the cross-correlation approach to examine the well-known EKC hypothesis between globalization and environmental degradation. The results validate the inverted U-shaped EKC hypothesis for 16 (approximately 18%) from the high- and middle-income countries only, thereby highlighting that a rise in globalization will decrease carbon emissions for these countries in the future. On contrary, the results also confirm the U-shaped relationship between globalization and environmental degradation for 8% of the countries. The remaining countries do not have a U- or an inverted U-shaped relationship between globalization and CO2 emissions. Policy implications are also discussed.
Keywords: Globalization; Carbon emissions; Cross-correlation; EKC (search for similar items in EconPapers)
JEL-codes: F6 Q5 Q0 (search for similar items in EconPapers)
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Journal Article: Testing the globalization-driven carbon emissions hypothesis: International evidence (2019)
Working Paper: Testing the Globalization-Driven Carbon Emissions Hypothesis: International Evidence (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:inteco:v:158:y:2019:i:c:p:25-38
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