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Empirical verification of causality between CO2 emissions, energy consumption, foreign direct investment, gross domestic product, and openness of the economy: evidence from India

Empirical verification of causality between CO2 emissions, energy consumption, foreign direct... The present paper addresses the issue of causal relationships between CO2 emissions, energy consumption (EC), foreign direct investment (FDI), gross domestic product (GDP), and openness of the economy in India by employing time-series data for 37 years from 1978 to 2014. The result indicates the existence of the long-run relationship between the considered variables. Further, a strong joint unidirectional causality is running from energy consumption, foreign direct investment, gross domestic product, and openness of the economy to CO2 emissions. The finding supports the thesis of the causal cyclical relationship between the above-mentioned variables; therefore, the policy of efficient energy use along with the adaptation of new technology in production activity will address the issue of reduction in CO2 emissions without compromising the objectives of high growth rate through foreign direct investment and openness of the economy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Sustainable Economy Inderscience Publishers

Empirical verification of causality between CO2 emissions, energy consumption, foreign direct investment, gross domestic product, and openness of the economy: evidence from India

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1756-5804
eISSN
1756-5812
DOI
10.1504/IJSE.2019.100679
Publisher site
See Article on Publisher Site

Abstract

The present paper addresses the issue of causal relationships between CO2 emissions, energy consumption (EC), foreign direct investment (FDI), gross domestic product (GDP), and openness of the economy in India by employing time-series data for 37 years from 1978 to 2014. The result indicates the existence of the long-run relationship between the considered variables. Further, a strong joint unidirectional causality is running from energy consumption, foreign direct investment, gross domestic product, and openness of the economy to CO2 emissions. The finding supports the thesis of the causal cyclical relationship between the above-mentioned variables; therefore, the policy of efficient energy use along with the adaptation of new technology in production activity will address the issue of reduction in CO2 emissions without compromising the objectives of high growth rate through foreign direct investment and openness of the economy.

Journal

International Journal of Sustainable EconomyInderscience Publishers

Published: Jan 1, 2019

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