Are Policy Stances Consistent with the Global GHG Emission Persistence?

Bikramaditya Ghosh (), Spyros Papathanasiou and Vandana Gablani ()
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Bikramaditya Ghosh: Symbiosis International (Deemed University) (SIU)
Vandana Gablani: Business Analytics, RV Institute of Management

Chapter Chapter 10 in Applications in Energy Finance, 2022, pp 255-279 from Springer

Abstract: Abstract GHG emission increases the carbon footprint, the presence of greenhouse gases and finally of global warming. This study attempts to investigate the persistence of GHG emissions in 186 countries globally within 25 consecutive years (1990–2014), using three partially overlapping windows. It confirms the possible nature of policy stance on GHG emissions across those nations. We use Long Memory identification through Order of fractional differencing (d) and Hurst Exponent (H) using the ARFIMA process. The study found that all 186 countries within 25 years are exhibiting persistence or long memory in their respective GHG emission data to varying degrees. Of the total number of countries, 172 exhibit weak stationarity and thus a random policy shock would assist the policymakers. On the other hand, about 14 countries, mostly from the former USSR region showed that strong stationarity requires a firm policy stance. Furthermore, as the observations triple, the intensity of long memory diminishes by over 60%. This study would assist the policymakers on choosing a permanent/transitory policy for their respective countries in terms of productivity, income inequality and added-value in several sectors.

Keywords: Economics; Energy and the macroeconomy; Government policy; Time series models; Econometrics; Q43; B23; C22; Q5; Q28 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-92957-2_10

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DOI: 10.1007/978-3-030-92957-2_10

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