CO 2 Emissions and Macroeconomic Indicators: Analysis of the Most Polluted Regions in the World

Nestor Shpak, Solomiya Ohinok, Ihor Kulyniak, Włodzimierz Sroka, Yuriy Fedun, Romualdas Ginevičius and Joanna Cygler
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Nestor Shpak: Institute of Economics and Management, Lviv Polytechnic National University, 79013 Lviv, Ukraine
Solomiya Ohinok: Institute of Economics and Management, Lviv Polytechnic National University, 79013 Lviv, Ukraine
Ihor Kulyniak: Institute of Economics and Management, Lviv Polytechnic National University, 79013 Lviv, Ukraine
Włodzimierz Sroka: Department of Management, Faculty of Applied Sciences, WSB University, Cieplaka 1c, 41-300 Dąbrowa Górnicza, Poland
Yuriy Fedun: Department of International Economic Relations, Faculty of International Relations, Ivan Franko National University Lviv, 79000 Lviv, Ukraine
Romualdas Ginevičius: International Department of Logistics and Service Engineering, Białystok University of Technology, Wiejska 45A, 15-351 Bialystok, Poland
Joanna Cygler: Collegium of Management and Finance, SGH Warsaw School of Economics, Al. Niepodległości 162, 02-554 Warsaw, Poland

Energies, 2022, vol. 15, issue 8, 1-22

Abstract: There is no sector of the economy that is not dependent on the state of development of the energy sector. This sector produces a significant share of global CO 2 emissions. Harmful CO 2 emissions and greenhouse gas emissions accelerate global warming. Therefore, more and more countries are adopting a strategy for the transition to carbon-neutral energy. However, energy independence and economic competitiveness are closely linked. One cannot analyze them separately. Given these facts, we focused on conducting an econometric study of the impact of key macroeconomic indicators on the level of CO 2 emissions into the air in the United States and the Asia-Pacific region as the regions with the largest CO 2 emissions. The modeling was carried out using the method of a correlation–regression analysis with the subsequent construction of econometric models. The quality of the built econometric models was checked using the coefficient of determination and Fisher’s criterion. The sample of statistics was formed from all the available values of the World Bank’s annual indicators for the period 1970–2020. The findings achieved showed that: (i) The results of our study confirmed the dependence of CO 2 emissions on macroeconomic factors such as GDP, exports and imports, the rate of inflation, and unemployment. It allows the governments of many countries to use research findings to diagnose, monitor, and forecast macroeconomic outcomes to reduce or maintain allowable CO 2 emissions. (ii) Identifying and assessing economic losses from environmental pollution by CO 2 emissions using econometric models will allow to ensure effective public environmental and economic policies aimed at reducing harmful CO 2 emissions into the air. It may be regarded as the practical importance of our study.

Keywords: CO 2 emissions; energy sector; GDP; exports; imports; inflation; unemployment; correlation and regression analysis; USA; Asia-Pacific region (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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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