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Impact of globalization, institutional quality, economic growth, electricity and renewable energy consumption on Carbon Dioxide Emission in OECD countries

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Abstract

This research for the first time examines the influence of the financial development, stock market, globalization, institutional quality, economic growth, electricity, and renewable energy consumption on carbon dioxide emission from 1985 to 2018 in thirty-six (OECD) countries. Cointegrations exist in the used variables based on the examined findings of the Kao, Westerlund, and Pedroni cointegration. Findings of the pooled mean group (PMG) indicate that renewable energy consumption, globalization, and institutional quality assist to reduce the carbon dioxide emission that improve the environment while financial development, stock market, electricity consumption, and economic growth cause to increase the carbon dioxide emission in OECD countries both in the long and in the short run. To reduce carbon dioxide emission, important policy implications are suggested for OECD countries.

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All used data are available from the corresponding author with formal request.

Abbreviations

CO2e:

Carbon dioxide emission

INSTQ:

Institutional quality

EGT:

Economic growth

EC:

Energy consumption

ARDL:

Autoregressive distributed lag

ELEC:

Electricity consumption

FD:

Financial development

GLB:

Globalization

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Acknowledgements

The authors are thankful to the editor for their valuable suggestions regarding this research paper.

Funding

This research is financially supported by The National Social Science Foundation of China “The counter measure research on the improvement of the governance performance about the urban public safety under the overall national security concept” under project no. (18BGL276).

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Authors and Affiliations

  1. The School of Public Policy and Management, China University of Mining and Technology, Xuzhou, 221116, China

    Huimin Cao

  2. Management Studies Department, Bahria Business School, Bahria University, Islamabad, Pakistan

    Muhammad Kamran Khan

  3. College of Economics and Management, Henan Agricultural University, Zhengzhou, 450002, China

    Abdul Rehman

  4. Amity School of Economics, Amity University, Uttar Pradesh, Noida, India

    Vishal Dagar

  5. Technology Management, Economic and Policy Program, College of Engineering, Seoul National University, 1 Gwanak-ro, Gwanak-gu, Seoul, 08826, Korea

    Bahareh Oryani

  6. School of Economics and Management, Beijing University of Technology, Pingle Garden, Chaoyang District, Beijing, China

    Arifa Tanveer

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  1. Huimin Cao
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  2. Muhammad Kamran Khan
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  3. Abdul Rehman
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  4. Vishal Dagar
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Contributions

Huimin Cao: supervision; Muhammad Kamran Khan: writing and data analysis; Abdul Rehman and Vishal Dagar: data collection and literature review; Bahareh Oryani and Arifa Tanveer: review and proofreading.

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Correspondence to Muhammad Kamran Khan.

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Communicated by Ilhan Ozturk.

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Table 10 List of countries
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Cao, H., Khan, M.K., Rehman, A. et al. Impact of globalization, institutional quality, economic growth, electricity and renewable energy consumption on Carbon Dioxide Emission in OECD countries. Environ Sci Pollut Res 29, 24191–24202 (2022). https://doi.org/10.1007/s11356-021-17076-3

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