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Taha Zaghdoudi
''Oil prices, renewable energy, CO2 emissions and economic growth in OECD countries''
( 2017, Vol. 37 No.3 )
This paper examines the casual relationship between oil prices , renewable energy, carbon dioxide emissions and economic growth for the OECD countries over the period 1990-2015. By performing panel cointegration models, we found strong evidence of a negative and significant long-run relationship between oil prices, renewable energy and CO2 emissions. Findings indicate also that there is a quadratic long run relationship between CO2 emissions and economic growth, confirming the existence of an Environmental Kuznets Curve (EKC) for OECD countries. The Granger-causality results indicate bidirectional causality between CO2 emissions and oil prices in both short and long-run. This paper supports the view that an increase of oil prices decreases CO2 emissions in OECD countries.
Keywords: Oil prices, Renewable energy, CO2 emissions, Economic growth, Panel cointegration
JEL: Q4 - Energy: General
Q5 - Environmental Economics: General
Manuscript Received : Jul 27 2017 Manuscript Accepted : Aug 31 2017

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