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Panayiotis Tzeremes
''The impact of total factor productivity on energy consumption and CO2 emissions in G20 countries''
( 2020, Vol. 40 No.3 )
This study investigates the nexus among total factor productivity, energy consumption and CO2 emissions in G20 countries for time series data from 1971 to 2017 by employing time-varying causality test. By and large, we have found nonlinear causality among the variables. Specifically, the direction from TFP to CO2 is demonstrated for Argentina, France, South Korea, UK and USA. In addition, bidirectional interconnectedness is displayed for four countries (Italy, Japan, Saudi Arabia and Turkey). Furthermore, the one-way relationship between TFP and EC differs among the countries. The causality from EC to TFP is obtained for Brazil, South Africa and Turkey, the vice versa linkage is confirmed for Argentina, Russia, UK and USA, and we have two two-way causalities for Italy and Japan. Lastly, we dissected the validity of the Environmental Kuznets curve hypothesis between TFP to CO2. Our outcomes insinuate the validity of the Environmental Kuznets curve for Turkey, the inverted-U shaped for Argentina and Saudi Arabia, N-shaped for France, Italy and South Africa and inverted-U shaped curve for Japan, UK and USA. In view of the results, some crucial policy implications could be suggested, such as that the impact of TFP policies influenced the EC and CO2.
Keywords: Total factor productivity, energy consumption, CO2 emissions, Environmental Kuznets curve, time-varying causality
JEL: A1 - General Economics: General
Q5 - Environmental Economics: General
Manuscript Received : Apr 30 2019 Manuscript Accepted : Aug 08 2020

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