Investigating Carbon Emissions from Electricity Generation and GDP Nexus Using Maximum Entropy Bootstrap: Evidence from Oil-Producing Countries in the Middle East

Zeinab Zanjani, Pedro Macedo and Isabel Soares
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Zeinab Zanjani: Faculty of Economics, University of Porto, Rua Dr. Roberto Frias, 4200-464 Porto, Portugal
Pedro Macedo: Center for Research and Development in Mathematics and Applications, Department of Mathematics, Campus Universitário de Santiago, University of Aveiro, 3810-193 Aveiro, Portugal
Isabel Soares: Research Center for Economics and Finance, Faculty of Economics, University of Porto, Rua Dr. Roberto Frias, 4200-464 Porto, Portugal

Energies, 2021, vol. 14, issue 12, 1-22

Abstract: The maximum entropy bootstrap for time series is applied in this study to investigate the nexus between carbon emissions from electricity generation and the gross domestic product, using a bivariate framework for eight Middle Eastern countries between 1995 and 2017. The sample under study includes oil-producing countries such as Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. As the electricity generation in these economies relies mainly on oil and gas, finding out the existence and direction of the relationship between the two considered variables has remarkable implications for policymakers and governments in these countries to achieve both higher economic growth and environmental protection. As expected, this nexus is validated for all countries in the sample but not in all models, time periods, and lags. Therefore, policymakers can set appropriate electricity conservation policies based on these varied empirical findings to boost economic growth with minimum environmental degradation.

Keywords: economic growth; environmental policies; info-metrics; time series (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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