Revisiting the Causal Relationship between CO2 Emissions and Economic Growth in 12 Asian Countries: Evidence from a Bootstrap Panel Causality Test

Kuei-Chiu Lee (), Hsiao-Ping Chu (), Tsangyao Chang and Roula Inglesi-Lotz
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Kuei-Chiu Lee: Department of Finance, Feng Chia University, Taichung, Taiwan
Hsiao-Ping Chu: Department of Business Administration, Ling Tung University, Taichung, Taiwan

No 201413, Working Papers from University of Pretoria, Department of Economics

Abstract: This study applies bootstrap panel Granger causality methods to investigate the relationship between CO2 emissions and economic growth using data from 12 Asian countries over the period of 1965-2010. Both real GDP per capita and CO2 emissions data are used in this study. Empirical results indicate that one-way Granger causality running from CO2 emissions to economic growth for Pakistan, one-way Granger causality running from economic growth to CO2 emissions for India and Japan, a bi-directional causality for Thailand and Vietnam and neutrality for the remaining 7 countries (i.e., China, Indonesia, Malaysia, Philippines, Singapore, South Korea, and Taiwan). Our results have important policy implications for the 12 Asian countries under study.

Keywords: Economic Growth; CO2 Emissions; Asian Countries; Bootstrap (search for similar items in EconPapers)
Pages: 39 pages
Date: 2014-04
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