Preliminary communication

https://doi.org/10.17818/EMIP/2024/2.10

THE RELATIONSHIP BETWEEN CO2 EMISSIONS AND GDP PER CAPITA, ENERGY CONSUMPTION, INDUSTRIAL PRODUCTION IN THE CASE OF WESTERN BALKAN COUNTRIES

Gentiana Zhigolli ; South East European University, North Macedonia, Faculty of Business and Economics *
Besnik Fetai ; South East European University, North Macedonia, Faculty of Business and Economics

* Corresponding author.

Abstract

Purpose: This research investigates the relationship among CO2 emission, GDP per capita, energy consumption and industrial production for the Western Balkan countries during the period 2011 – 2022. Design/methodology/approach: The model consists of CO2 emission as a dependent variable, and GDP per capita, energy consumption and industrial production as independent variables. The analysis includes Ordinary Least Square (OLS), Fixed Effects (FE), Random Effects (RE), and Hausman–Taylor IV model. Findings: Results reveal a negative relationship between CO2 emissions and GDP per capita, and a positive relationship with energy consumption, while industrial production is not significant at all. Practical implications: Knowing the relationship between CO2 emissions and GDP per capita, energy consumption, and industrial production could help in projecting the policies that help protect the environment.

Keywords

CO2 emission; Western Balkan countries; Panel data; Hausman–Taylor IV model

Hrčak ID:

322921

URI

https://hrcak.srce.hr/322921

Publication date:

2.12.2024.

Article data in other languages: croatian

Visits: 0 *