The Effect of Economic Growth and Oil Price Variations on CO2 Emissions: Evidence from Spain (1874-2011)

Jacint Balaguer and Manuel Cantavella-Jordá ()
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Manuel Cantavella-Jordá: Department of Economics and Instituto de Economía Internacional, Universitat Jaume I, Castellón, Spain

No 2014/22, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

Abstract: A structural analysis on an environmental Kuznets curve (EKC with oil prices is carried out for Spain from 1874 to 2011. The dynamics of the long and short-term relationships among carbon dioxide (CO2), economic growth and oil prices is captured through an autoregressive distributed lag (ARDL) model. The EKC hypothesis is supported in a context where real oil price increases play a significant role on the reduction of CO2 emissions. Hence, the results suggest that oil taxes should be taken into account as an effective tool of environmental policy.

Keywords: Environmental Kuznets curve; CO2; oil prices; autoregressive distributed lag model; time series (search for similar items in EconPapers)
JEL-codes: Q53 Q56 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2014
New Economics Papers: this item is included in nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:jau:wpaper:2014/22

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