The dynamic causality between ESG and economic growth: Evidence from panel causality analysis
Sy-Hoa Ho,
Rim Oueghlissi and
Riadh El Ferktaji
MPRA Paper from University Library of Munich, Germany
Abstract:
The relationship between Environmental, Social and Governance (ESG) performance and economic growth is a controversial topic in economic literature. This paper applies the Granger causality test developed by Dumitrescu and Hurlin (2012) with an optimal lag length selection technique proposed by Han et al. (2017) to examine the causality relationship between ESG performance and economic growth for a set of 118 countries over the period 1999-2015. The empirical results show the presence of a bidirectional relationship between environmental and social performance and economic growth, while a unidirectional relationship from governance to growth for all countries. Unlike the clear overall pattern of the full sample results, the empirical evidence for different income groups of countries is mixed.
Keywords: ESG; GDP per capita; Granger causality estimation (search for similar items in EconPapers)
JEL-codes: C23 C32 O11 (search for similar items in EconPapers)
Date: 2019-07-30
New Economics Papers: this item is included in nep-env and nep-mac
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Citations: View citations in EconPapers (6)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:95390
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