Efficiently verifying programs with rich control flows

Ph.DDOCTOR OF PHILOSOPH

Exploring the link between environmental pollution and economic growth in EU-28 countries: Is there an environmental Kuznets curve?

This study examines the Environmental Kuznets Curve hypothesis (EKC), considering the primary energy consumption among other country-specific variables, for a panel of the EU-28 countries during the period 1990-2014. By estimating pooled OLS regressions with Driscoll-Kraay standard errors in order to account for cross-sectional dependence, the results confirm the EKC hypothesis in the case of emissions of sulfur oxides and emissions of non-methane volatile organic compounds. In addition to pooled estimations, the output of fixed-effects regressions with Driscoll-Kraay standard errors support the EKC hypothesis for greenhouse gas emissions, greenhouse gas emissions intensity of energy consumption, emissions of nitrogen oxides, emissions of non-methane volatile organic compounds and emissions of ammonia. Additionally, the empirical findings from panel vector error correction model reveal a short-run unidirectional causality from GDP per capita growth to greenhouse gas emissions, as well as a bidirectional causal link between primary energy consumption and greenhouse gas emissions. Furthermore, since there occurred no causal link between economic growth and primary energy consumption, the neo-classical view was confirmed, namely the neutrality hypothesis

Plotted graphs between GDP per capita and greenhouse gas emissions intensity of energy consumption in EU-28.

<p>Source: Authors’ own elaboration.</p

Summary review of literature invalidating EKC hypothesis.

<p>Summary review of literature invalidating EKC hypothesis.</p

Brief literature review on the causal relation between CO₂ emissions and economic growth.

<p>Brief literature review on the causal relation between CO₂ emissions and economic growth.</p

Plotted graphs between GDP per capita and greenhouse gas emissions from transport in EU-28.

<p>Source: Authors’ own elaboration.</p

Fisher (combined Johansen) test results.

<p>Fisher (combined Johansen) test results.</p

Cross-section dependence test results.

<p>Cross-section dependence test results.</p

Pedroni (Engle Granger based) test results.

<p>Pedroni (Engle Granger based) test results.</p

Estimated turning points from current study (in 2010 U.S. $).

<p>Estimated turning points from current study (in 2010 U.S. $).</p