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The impact of clean energy consumption on economic growth and CO 2 emissions in BRICS countries: Does the environmental Kuznets curve exist?
Author(s) -
Ummalla Mallesh,
Goyari Phanindra
Publication year - 2021
Publication title -
journal of public affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.221
H-Index - 20
eISSN - 1479-1854
pISSN - 1472-3891
DOI - 10.1002/pa.2126
Subject(s) - kuznets curve , economics , causality (physics) , energy consumption , consumption (sociology) , panel data , econometrics , natural resource economics , ecology , social science , physics , quantum mechanics , sociology , biology
This paper examines the impact of clean energy consumption (CEC) on economic growth (EG) and CO 2 emissions (CO 2 ) within a framework of environmental Kuznets curve (EKC) hypothesis in a panel of BRICS countries for the period 1992–2014. The results indicated that CEC and EG have a significant positive impact on EG, while CO 2 has a negative impact on it. Our results also found that EC and EG increase CO 2 while CEC significantly reduces it. Further, we found that the EKC hypothesis is valid in the BRICS countries. Finally, panel causality test indicated that unidirectional causality running from EC to EG. However, we did not find a causal relationship between CEC and EG. Based on these results, some of the policy implications have proposed for these emerging market economies.