Climate Change and Economic Growth: The Role of Environmental Policy Stringency
| Autor: | Davide Vannoni, Marina Di Giacomo, Enrico Maria de Angelis |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Natural resource economics
020209 energy Geography Planning and Development Climate change TJ807-830 Context (language use) 02 engineering and technology 010501 environmental sciences Management Monitoring Policy and Law TD194-195 01 natural sciences Gross domestic product Renewable energy sources Kuznets curve 0202 electrical engineering electronic engineering information engineering Per capita Economics GE1-350 Environmental degradation Environmental quality 0105 earth and related environmental sciences environmental policies Environmental Kuznets’s curve Environmental effects of industries and plants Renewable Energy Sustainability and the Environment stringency index Environmental sciences Externality |
| Zdroj: | Sustainability, Vol 11, Iss 8, p 2273 (2019) Sustainability Volume 11 Issue 8 |
| ISSN: | 2071-1050 |
| Popis: | The paper investigates the relationship between economic growth and environmental quality in the context of the Kuznets curve, which foresees that growth, while initially causing negative externalities for the environment, eventually can be seen also as the solution to environmental degradation. The novelty of the paper is to analyze the role of environmental policies, and in particular the use of market-based and non-market instruments to challenge the pollution plague and mitigate climate change. The results of fixed effects estimates on a sample of 32 countries observed for the period 1992&ndash 2012 show the existence of an inverted U-shaped relationship between per capita gross domestic product (GDP) and per-capita CO2 emissions for the quadratic specification, as well as of an N-shaped pattern for the cubic specification. Most importantly, the stringency indexes, i.e., the proxies used to account for environmental regulation, exhibit negative and strongly significant coefficients, suggesting that the policies are effective in reducing environmental damages associated with economic growth. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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