Driving Factors of Carbon Dioxide Emissions and the Impact from Kyoto Protocol

35 Pages Posted: 24 Aug 2009

See all articles by Nicole Grunewald

Nicole Grunewald

University of Göttingen

Inmaculada Martínez-Zarzoso

University of Goettingen (Göttingen) - School of Law, Economics, Social Sciences; Jaume I University - Department of Economics

Date Written: August 2009

Abstract

In the last two decades increasing attention has been paid to the relationship between environmental degradation and economic development. According to the Environmental Kuznets Curve (EKC) hypothesis this relationship may be described by an inverted-U curve. However, recent evidence rejects the EKC hypothesis for GHG emissions in a broad sense. In this paper we aim to investigate whether the EKC behavior for CO2 emissions could be proved on the behalf of institutional regulations. We analyze the driving factors of CO2 for developed and developing countries to test the theory of the EKC in the context of environmental regulations using a static and dynamic panel data model. We consider the Kyoto Protocol and the Clean Development Mechanism (CDM). The results from this study indicate that the Kyoto obligations have a reducing effect on CO2 emissions in developed and developing countries.

Keywords: environmental Kuznets Curve, Kyoto Protocol, CDM

JEL Classification: Q54, Q56

Suggested Citation

Grunewald, Nicole and Martínez-Zarzoso, Inmaculada, Driving Factors of Carbon Dioxide Emissions and the Impact from Kyoto Protocol (August 2009). CESifo Working Paper Series No. 2758, Available at SSRN: https://ssrn.com/abstract=1458885 or http://dx.doi.org/10.2139/ssrn.1458885

Nicole Grunewald (Contact Author)

University of Göttingen ( email )

Platz der Gottinger Sieben 3
Gottingen, D-37073
Germany
+49 (0)551 / 39-4015 (Phone)
+49 (0)551 / 39-8173 (Fax)

HOME PAGE: http://www.uni-goettingen.de/en/97800.html

Inmaculada Martínez-Zarzoso

University of Goettingen (Göttingen) - School of Law, Economics, Social Sciences ( email )

Germany

Jaume I University - Department of Economics ( email )

Campus del Riu Sec.
E-12071 Castellon
Spain

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