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Growth, coal and carbon emissions: economic overheating and climate change

Emanuel Kohlscheen, Richhild Moessner and Elod Takats

No 937, BIS Working Papers from Bank for International Settlements

Abstract: We use a comprehensive database of 121 countries over the 1971-2016 period to study how macroeconomic factors drive carbon (carbon-dioxide) emissions. For this purpose, dynamic panel regressions are estimated. Carbon emissions rise with economic development, manufacturing activity, urbanization and increasingly with economic growth. In electricity generation, the use of coal, and to a lesser degree of oil, is associated with higher carbon emissions, while renewable energy use is already associated with lower national emissions in advanced economies. We also uncover a non-linearity: economic overheating is particularly harmful when coal use is more intensive. The results suggest that mitigating economic cycles might also reduce carbon emissions.

Keywords: carbon dioxide; climate change; coal; emissions; energy; environment; growth; pollution; urbanisation (search for similar items in EconPapers)
JEL-codes: O40 O44 Q00 Q40 Q50 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2021-04
New Economics Papers: this item is included in nep-ene, nep-env and nep-reg
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