Greenhouse Emissions and Productivity Growth
Theofanis P. Mamuneas () and
Thanasis Stengos ()
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Theofanis P. Mamuneas: Department of Economics, University of Cyprus, P.O. Box 20537, Nicosia 1678, Cyprus
Journal of Risk and Financial Management, 2018, vol. 11, issue 3, 1-14
In this paper, we examine the effect of emissions, as measured by carbon dioxide (CO 2 ), on economic growth among a set of OECD countries during the period 1981–1998. We examine the relationship between total factor productivity (TFP) growth and emissions using a semiparametric smooth coefficient model that allow us to directly estimate the output elasticity of emissions. The results indicate that there exists a monotonically-increasing relationship between emissions and TFP growth. The output elasticity of CO 2 emissions is small with an average sample value of 0.07. In addition, we find an average contribution of CO 2 emissions to productivity growth of about 0.063 percent for the period 1981–1998.
Keywords: TFP growth; emissions; materials balance condition; semiparametric estimation (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:11:y:2018:i:3:p:38-:d:156902
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