Effects of Kyoto Protocol on CO 2 Emissions: A Five-Country Rolling Regression Analysis

Chien-Ho Wang, Ming-Hui Ko and Wan-Jiun Chen
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Chien-Ho Wang: Department of Economics, National Taipei University, New Taipei City 237, Taiwan
Ming-Hui Ko: Department of Economics, Chinese Culture University, Taipei 111, Taiwan
Wan-Jiun Chen: Department of Economics, Chinese Culture University, Taipei 111, Taiwan

Sustainability, 2019, vol. 11, issue 3, 1-20

Abstract: The current study illustrated the time variance of turning points in the relationship between carbon emissions and income to resolve heated debate on the different responsibility to climate change with 1950–2010 data of five development diversity countries—three developed countries (Germany, Italy, and Japan) and one developing country (India) and one newly industrialized economy (Taiwan). The article also examines the impact of the crisis on emission. The time-varying patterns in the turning points on environmental Kuznets curves (EKCs) were observed by a rolling regression technique with 1950–2010 data regarding the per capita CO 2 emissions caused by fossil fuel combustion and the incomes of the countries. Several empirical findings were revealed from this analysis. Per capita CO 2 emissions commonly decreased with varying magnitudes in the five countries over time. The EKC hypothesis regarding the CO 2 emissions is affirmed again in this study. The announcement effects associated with the Kyoto Protocol was evidenced. As indicated by the occurring GDP of the turning point, there is a strong reduction trend in the income level of the turning points right before the years of Kyoto Protocol; and this decreasing trend nearly ended as the Kyoto protocol approached its end, except in Germany, where the occurring income of the turning points continued to have a decreasing trend. Although the global financial crisis had its effects in the world, the impacts on carbon dioxide emissions vary across countries.

Keywords: rolling regression; announcement effect; Kyoto Protocol; CO 2 emissions; crisis; low carbon (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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