Abstract
Energy economics literature indicates that CO2 emissions and economic growth are significant drivers of energy consumption. This paper empirically tests the claim described above within the context of the Belt and Road Initiative countries and the Organisation for Economic Co-operation and Development countries. Prais–Winsten regression estimates the models with panel corrected standard errors. The random effects and fixed effects estimators proved inefficient, while the panel corrected standard errors proved to be an efficient and appropriate estimator. The results are consistent with the usual drivers indicated in the literature; both CO2 emissions and economic growth positively and significantly affect energy consumption in all the eight panels, including the Belt and Road Initiative panel and the Organisation for Economic Co-operation and Development panel. CO2 emissions on energy consumption are 10.7% higher in the Organisation for Economic Co-operation and Development countries than in the Belt and Road Initiative countries. Similarly, economic growth on energy consumption is 9.4% higher in the Organisation for Economic Co-operation and Development countries than in the Belt and Road Initiative countries. Policy recommendations in the study include improving and implementing an energy diversification policy, introducing carbon taxes and adopting new technologies like carbon capture and storage. These policies aim to encourage renewable and green energy usage and transition to low carbon technologies to reduce CO2 emissions while maintaining sustainable economic growth.
Similar content being viewed by others
Data availability
The datasets used and/or analysed during the current study are available from the corresponding author on reasonable request.
Notes
The selected countries used in the study are Albania, Armenia, Australia, Azerbaijan, Bangladesh, Belarus, Bulgaria, Cambodia, Chile, Croatia, Czech Republic, Denmark, Egypt, Hungary, Iceland, India, Indonesia, Iran, Israel, Japan, Jordan, Kazakhstan, South Korea, Kyrgyz Republic, Lebanon, Malaysia, Mexico, Moldova, Morocco, New Zealand, North Macedonia, Norway, Pakistan, Panama, Philippines, Poland, Romania, Singapore, South Africa, Sri Lanka, Sweden, Switzerland, Tajikistan, Thailand, Turkey, Ukraine, the UK, the USA, and Vietnam.
In essence, Eq. (1) states that the total energy consumption per capita (ENRC) is a function of economic growth proxied as (GDP), CO2 emissions (CO2), financial development (FD), population (POP), capital (K) and labour (L).
They are the conventional standard error (CSE) structure, robust standard error (RSE) and the first-order autoregressive error (Corr(AR1)) structure.
The said models are models (1), (3), (5), (7), (9), (11), (13) and (15), for the eight panels.
References
Adams S, Klobodu EKM, Apio A (2018) Renewable and non-renewable energy, regime type and economic growth. Renew Energy 125:755–767. https://doi.org/10.1016/j.renene.2018.02.135
Akadiri SS, Akadiri AC (2020) Interaction between CO2 emissions, energy consumption and economic growth in the Middle East: panel causality evidence. Int J Energy Technol Policy 16(2):105–118. https://doi.org/10.1504/IJETP.2020.105509
Al-mulali U, Binti Che Sab CN (2012) The impact of energy consumption and CO2 emission on the economic growth and financial development in the sub Saharan African countries. Energy 39(1):180–186. https://doi.org/10.1016/j.energy.2012.01.032
Amasyali K, El-Gohary NM (2018) A review of data-driven building energy consumption prediction studies. Renew Sust Energ Rev 81(March 2017):1192–1205. https://doi.org/10.1016/j.rser.2017.04.095
Antonakakis N, Chatziantoniou I, Filis G (2017) Energy consumption, CO2 emissions, and economic growth: an ethical dilemma. Renew Sust Energ Rev 68(October 2015):808–824. https://doi.org/10.1016/j.rser.2016.09.105
Aqeel A, Butt MS (2001) The relationship between energy consumption and economic growth in Pakistan. Asia-Pac Dev J 8(2):101–110. https://doi.org/10.1080/12269328.2014.895083
Arouri MEH, Ben Youssef A, M’henni H, Rault C (2012) Energy consumption, economic growth and CO 2 emissions in Middle East and North African countries. Energy Policy 45:342–349. https://doi.org/10.1016/j.enpol.2012.02.042
Awan AM, Azam M, Saeed IU, Bakhtyar B (2020) Does globalization and financial sector development affect environmental quality? A panel data investigation for the Middle East and North African countries. Environ Sci Pollut Res (Tomlinson 1999). https://doi.org/10.1007/s11356-020-10445-4
Azam M (2019) Relationship between energy, investment, human capital, environment, and economic growth in four BRICS countries. Environ Sci Pollut Res 26(33):34388–34400. https://doi.org/10.1007/s11356-019-06533-9
Barbier, E. B., & Markandya, A. (2013). A new blueprint for a green economy. In Routledge. Retrieved from https://books.google.com.gh/books?hl=en&lr=&id=E7VsiKPFg50C&oi=fnd&pg=PP1&dq=Pearce,+D.,+Markandya,+A.,+%26+Barbier,+E.+(2013b).+Blueprint+1:+for+a+green+economy:+Routledge.&ots=DLqqtUxcvp&sig=PRuq3VdowtxqK5q27ydncKnUYnE&redir_esc=y#v=onepage&q&f=false
Bartleet M, Gounder R (2010) Energy consumption and economic growth in New Zealand: results of trivariate and multivariate models. Energy Policy 38(7):3508–3517. https://doi.org/10.1016/j.enpol.2010.02.025
Beck N (2001) Time-series–cross-section data: what have we learned in the past few years? Annu Rev Polit Sci 4(1):271–293 Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=5367194&site=ehost-live%0Ahttp://www.annualreviews.org/doi/10.1146/annurev.polisci.4.1.271
Beck, N., & Katz, J. N. (2004). Time-series – cross-section issues: dynamics, 2004. N Y, 1–35.
Beck N, Katz JN (2011) Modeling dynamics in time-series-cross-section political economy data. Annu Rev Polit Sci 14:331–352. https://doi.org/10.1146/annurev-polisci-071510-103222
Bekun FV, Alola AA, Sarkodie SA (2019a) Toward a sustainable environment: nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Sci Total Environ 657:1023–1029. https://doi.org/10.1016/j.scitotenv.2018.12.104
Bekun FV, Emir F, Sarkodie SA (2019b) Another look at the relationship between energy consumption, carbon dioxide emissions, and economic growth in South Africa. Sci Total Environ 655:759–765. https://doi.org/10.1016/j.scitotenv.2018.11.271
Berk N, Katz JN (1995) What to do and not do with crossectional data. Am Polit Sci Rev 89:634–647
Chan H, Lee S (1996) Forecasting the demand for energy in China. Energy J 17(1):19–30 Retrieved from https://www.scopus.com/citation/print.uri?origin=recordpage&sid=&src=s&stateKey=OFD_1210791542&eid=2-s2.0-0029777652&sort=&clickedLink=&view=SpecifyFields&selectedCitationInformationItemsAll=on&selectedCitationInformationItems=Author%28s%29&selectedCitati
Chang TH, Huang CM, Lee MC (2009) Threshold effect of the economic growth rate on the renewable energy development from a change in energy price: evidence from OECD countries. Energy Policy 37(12):5796–5802. https://doi.org/10.1016/j.enpol.2009.08.049
Chao L, Qing S (2011) An empirical analysis of the influence of urban form on household travel and energy consumption. Comput Environ Urban Syst 35(5):347–357. https://doi.org/10.1016/j.compenvurbsys.2011.05.006
Chen PY, Chen ST, Hsu CS, Chen CC (2016) Modeling the global relationships among economic growth, energy consumption and CO2 emissions. Renew Sust Energ Rev 65:420–431. https://doi.org/10.1016/j.rser.2016.06.074
Cheng B (1999) Causality between energy consumption and economic growth in India: an application of cointegration and errorcorrection modeling. Indian Econ Rev 34(1):39–49 Retrieved from https://www.scopus.com/citation/output.uri?origin=recordpage&view=&src=s&eid=2-s2.0-0008843006&outputType=print
Chtioui S (2012) Does economic growth and financial development spur energy consumption in Tunisia? J Econ Int Financ 4(4):150–158. https://doi.org/10.5897/jeif12.014
Crompton P, Wu Y (2005) Energy consumption in China: past trends and future directions. Energy Econ 27(1):195–208. https://doi.org/10.1016/j.eneco.2004.10.006
Farhani S, Solarin SA (2017) Financial development and energy demand in the United States: new evidence from combined cointegration and asymmetric causality tests. Energy 134:1029–1037. https://doi.org/10.1016/j.energy.2017.06.121
Fernando A, Lenore F, Anthony PC, Jochen AGJ, William FL, Henrique MP, Corlett RT (2018) Environmental challenges for the Belt and Road Initiative. Nat Sustain 1:206–209. https://doi.org/10.1038/s41893-018-0059-3
Fotis P, Karkalakos S, Asteriou D (2017) The relationship between energy demand and real GDP growth rate: the role of price asymmetries and spatial externalities within 34 countries across the globe. Energy Econ 66:69–84. https://doi.org/10.1016/j.eneco.2017.05.027
Garau G, Lecca P, Mandras G (2013) The impact of population ageing on energy use: evidence from Italy. Econ Model 35:970–980. https://doi.org/10.1016/j.econmod.2013.09.006
Gessesse AT, He G (2020) Analysis of carbon dioxide emissions, energy consumption, and economic growth in China. Agric Econ (Czech Republic) 66(4):183–192. https://doi.org/10.17221/258/2019-AGRICECON
Halicioglu F (2007) Residential electricity demand dynamics in Turkey. Energy Econ 29(2):199–210. https://doi.org/10.1016/j.eneco.2006.11.007
Haseeb M, Abidin ISZ, Hye QMA, Hartani NH (2019) The impact of renewable energy on economic well-being of Malaysia: fresh evidence from auto regressive distributed lag bound testing approach. Int J Energy Econ Policy 9(1):269–275. https://doi.org/10.32479/ijeep.7229
Heres-Del-Valle D, Niemeier D (2011) CO2 emissions: are land-use changes enough for California to reduce VMT? Specification of a two-part model with instrumental variables. Transp Res B Methodol 45(1):150–161. https://doi.org/10.1016/j.trb.2010.04.001
Hu S, Yan D, Guo S, Cui Y, Dong B (2017) A survey on energy consumption and energy usage behavior of households and residential building in urban China. Energy Build 148(2017):366–378. https://doi.org/10.1016/j.enbuild.2017.03.064
Huang BN, Hwang MJ, Yang CW (2008) Causal relationship between energy consumption and GDP growth revisited: a dynamic panel data approach. Ecol Econ 67(1):41–54. https://doi.org/10.1016/j.ecolecon.2007.11.006
Irena I (2016) Renewable energy in cities. International Renewable Agency, Abu Dhabi
Islam F, Shahbaz M, Alam M (2011) MPRA Munich Personal RePEc Archive financial development and energy consumption nexus in Malaysia: a multivariate time series analysis. (28403). Retrieved from https://mpra.ub.uni-muenchen.de/28403/1/MPRA_paper_28403.pdf
Islam F, Shahbaz M, Ahmed AU, Alam MM (2013) Financial development and energy consumption nexus in Malaysia: a multivariate time series analysis. Econ Model 30(1):435–441. https://doi.org/10.1016/j.econmod.2012.09.033
Jalil A, Feridun M (2011) The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy Econ 33(2):284–291. https://doi.org/10.1016/j.eneco.2010.10.003
Johnson D, Horton E, Mulcahy R, Foth M (2017) Gamification and serious games within the domain of domestic energy consumption: a systematic review. Renew Sust Energ Rev 73(February 2016):249–264. https://doi.org/10.1016/j.rser.2017.01.134
Joyeux R, Ripple RD (2007) Household energy consumption versus income and relative standard of living: a panel approach. Energy Policy 35(1):50–60. https://doi.org/10.1016/j.enpol.2005.10.012
Kahouli B (2017) The short and long run causality relationship among economic growth, energy consumption and financial development: evidence from South Mediterranean Countries (SMCs). Energy Econ 68:19–30. https://doi.org/10.1016/j.eneco.2017.09.013
Katz JN (2016) What to do (and not to do) with time-series cross-section Data Author ( s ): Nathaniel Beck and Jonathan N . Katz Source : The American Political Science Review , Vol . 89 , No . 3 ( Sep ., 1995 ), pp . 634-647 Published by : American Political Science . 89(3), 634–647
Khan MK, Khan MI, Rehan M (2020) The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan. Financ Innov 6(1):1–13. https://doi.org/10.1186/s40854-019-0162-0
Kwakwa PA, Alhassan H, Adu G (2020) Effect of natural resources extraction on energy consumption and carbon dioxide emission in Ghana. Int J Energy Sector Manag 14(1):20–39. https://doi.org/10.1108/IJESM-09-2018-0003
Lee CC, Chang CP (2008) Energy consumption and economic growth in Asian economies: a more comprehensive analysis using panel data. Resour Energy Econ 30(1):50–65. https://doi.org/10.1016/j.reseneeco.2007.03.003
Leitão NC, Balsalobre-Lorente D (2020) The causality between energy consumption, urban population, carbon dioxide emissions, and economic growth. In Econometrics of green energy handbook, pp 111–130. https://doi.org/10.1007/978-3-030-46847-7_5
Li Z (2003) An econometric study on China’s economy, energy and environment to the year 2030. Energy Policy 3(12):1137–1150 Retrieved from https://www.scopus.com/record/display.uri?eid=2-s2.0-84923812209&origin=inward
Li H, Zhao JM, Hao RF, Zhao QH (2011) A new blind estimation of MIMO channels based on HGA. Lecture notes in computer science (including subseries lecture notes in artificial intelligence and lecture notes in bioinformatics), 7003 LNAI(PART 2), 568–574. https://doi.org/10.1007/978-3-642-23887-1_73
Li H, Li B, Lu H (2017) Carbon dioxide emissions, economic growth, and selected types of fossil energy consumption in China: empirical evidence from 1965 to 2015. Sustainability (Switzerland) 9(5):697. https://doi.org/10.3390/su9050697
Liu Y, Zhou Y, Wu W (2015) Assessing the impact of population, income and technology on energy consumption and industrial pollutant emissions in China. Appl Energy 155:904–917. https://doi.org/10.1016/j.apenergy.2015.06.051
Liu X, Zhou D, Zhou P, Wang Q (2018) Factors driving energy consumption in China: a joint decomposition approach. J Clean Prod 172:724–734. https://doi.org/10.1016/j.jclepro.2017.10.238
Lotfalipour MR, Falahi MA, Ashena M (2010) Economic growth, CO2 emissions, and fossil fuels consumption in Iran. Energy 35(12):5115–5120. https://doi.org/10.1016/j.energy.2010.08.004
Mahalik MK, Babu MS, Loganathan N, Shahbaz M (2017) Does financial development intensify energy consumption in Saudi Arabia? Renew Sust Energ Rev 75(February 2016):1022–1034. https://doi.org/10.1016/j.rser.2016.11.081
Mahalingam B, Orman WH (2018) GDP and energy consumption: a panel analysis of the US. Appl Energy 213(September 2017):208–218. https://doi.org/10.1016/j.apenergy.2018.01.036
Marques AC, Fuinhas JA (2012) Are public policies towards renewables successful? Evidence from European countries. Renew Energy 44:109–118. https://doi.org/10.1016/j.renene.2012.01.007
Mehic E, Silajdzic S, Babic-Hodovic V (2013) The impact of FDI on economic growth: some evidence from southeast Europe. Emerg Mark Financ Trade 49(SUPPL.1):5–20. https://doi.org/10.2753/REE1540-496X4901S101
Menyah K, Wolde-Rufael Y (2010) Energy consumption, pollutant emissions and economic growth in South Africa. Energy Econ 32(6):1374–1382. https://doi.org/10.1016/j.eneco.2010.08.002
Nguyen-Van P (2010) Energy consumption and income: a semiparametric panel data analysis. Energy Econ 32(3):557–563. https://doi.org/10.1016/j.eneco.2009.08.017
Niu S, Ding Y, Niu Y, Li Y, Luo G (2011) Economic growth, energy conservation and emissions reduction: a comparative analysis based on panel data for 8 Asian-Pacific countries. Energy Policy 39(4):2121–2131. https://doi.org/10.1016/j.enpol.2011.02.003
Odugbesan JA, Rjoub H (2020) Relationship among economic growth, energy consumption, CO2 emission, and urbanization: evidence from MINT countries. SAGE Open 10(2):215824402091464. https://doi.org/10.1177/2158244020914648
Ohlan R (2015) The impact of population density, energy consumption, economic growth and trade openness on CO2 emissions in India. Nat Hazards 79(2):1409–1428. https://doi.org/10.1007/s11069-015-1898-0
Ouyang Y, Li P (2018) On the nexus of financial development, economic growth, and energy consumption in China: new perspective from a GMM panel VAR approach. Energy Econ 71:238–252. https://doi.org/10.1016/j.eneco.2018.02.015
Ozturk I, Acaravci A (2010) CO2 emissions, energy consumption and economic growth in Turkey. Renew Sust Energ Rev 14(9):3220–3225. https://doi.org/10.1016/j.rser.2010.07.005
Park S (2018) Factors influencing the recycling rate under the volume-based waste fee system in South Korea. Waste Manag 74:43–51. https://doi.org/10.1016/j.wasman.2018.01.008
Parks RW (1967) Efficient estimation of a system of regression equations when disturbances are both serially and contemporaneously correlated. J Am Stat Assoc 62(318):500–509. https://doi.org/10.1080/01621459.1967.10482923
Pata UK (2018) Renewable energy consumption, urbanization, financial development, income and CO2 emissions in Turkey: testing EKC hypothesis with structural breaks. J Clean Prod 187:770–779. https://doi.org/10.1016/j.jclepro.2018.03.236
Pesaran HM (2004) General diagnostic tests for cross-section dependence in panels. Fac Econ. https://doi.org/10.17863/CAM.5113
Qi S, Li Y (2017) Threshold effects of renewable energy consumption on economic growth under energy transformation. Chin J Popul Resour Environ 15(4):312–321. https://doi.org/10.1080/10042857.2017.1416049
Raggad B (2018) Carbon dioxide emissions, economic growth, energy use, and urbanization in Saudi Arabia: evidence from the ARDL approach and impulse saturation break tests. Environ Sci Pollut Res 25(15):14882–14898. https://doi.org/10.1007/s11356-018-1698-7
Reed WR, Ye H (2011) Which panel data estimator should I use? Appl Econ 43(8):985–1000. https://doi.org/10.1080/00036840802600087
Sadorsky P (2010) The impact of financial development on energy consumption in emerging economies. Energy Policy 38(5):2528–2535. https://doi.org/10.1016/j.enpol.2009.12.048
Sadorsky P (2011) Financial development and energy consumption in Central and Eastern European frontier economies. Energy Policy 39(2):999–1006. https://doi.org/10.1016/j.enpol.2010.11.034
Sahir MH, Qureshi AH (2007) Specific concerns of Pakistan in the context of energy security issues and geopolitics of the region. Energy Policy 35(4):2031–2037. https://doi.org/10.1016/j.enpol.2006.08.010
Saidi K, Hammami S (2015) The impact of CO2, emissions and economic growth on energy consumption in 58 countries. Energy Rep 1:62–70
Salahuddin M, Alam K, Ozturk I, Sohag K (2018) The effects of electricity consumption, economic growth, financial development and foreign direct investment on CO2 emissions in Kuwait. Renew Sust Energ Rev 81(March 2016):2002–2010. https://doi.org/10.1016/j.rser.2017.06.009
Sarkodie SA, Strezov V (2019) Effect of foreign direct investments, economic development and energy consumption on greenhouse gas emissions in developing countries. Sci Total Environ 646:862–871. https://doi.org/10.1016/j.scitotenv.2018.07.365
Schmitt C (2016) Panel data analysis and partisan variables: how periodization does influence partisan effects. J Eur Publ Policy 23(10):1442–1459. https://doi.org/10.1080/13501763.2015.1091030
Shaari MS, Rahim HA, Rashid IMA (2013) Relationship among population, energy consumption and economic growth in Malaysia. Int J Sci 13(1):39–45
Shabbir MS, Shahbaz M, Zeshan M (2014) Renewable and nonrenewable energy consumption , real GDP and CO2 emissions nexus: a structural VAR approach in Pakistan. Bull Energy Econ 2(3):91–105 Retrieved from https://www.scopus.com/record/display.uri?eid=2-s2.0-84925485211&origin=inward
Shahbaz M, Lean HH (2012) Does financial development increase energy consumption? The role of industrialization and urbanization in Tunisia. Energy Policy 40(1):473–479. https://doi.org/10.1016/j.enpol.2011.10.050
Shahbaz M, Shamim SMA, Aamir N, Shahbaz M, Shamim SMA, Aamir N (2010) Macroeconomic environment and financial sector’s performance: econometric evidence from three traditional approaches. IUP J Financ Econ VIII(1 & 2):103–123
Shahbaz M, Nasreen S, Afza T (2014) Environmental consequences of economic growth and foreign direct investment: evidence from panel data analysis. Bull Energy Econ 2(2):14–27 Retrieved from https://www.scopus.com/record/display.uri?eid=2-s2.0-84928953320&origin=inward
Shahbaz M, Van Hoang TH, Mahalik MK, Roubaud D (2017) Energy consumption, financial development and economic growth in India: new evidence from a nonlinear and asymmetric analysis. Energy Econ 63:199–212. https://doi.org/10.1016/j.eneco.2017.01.023
Shahbaz M, Zakaria M, Shahzad SJH, Mahalik MK (2018) The energy consumption and economic growth nexus in top ten energy-consuming countries: fresh evidence from using the quantile-on-quantile approach. Energy Econ 71:282–301. https://doi.org/10.1016/j.eneco.2018.02.023
Sheinbaum-Pardo C, Mora-Pérez S, Robles-Morales G (2012) Decomposition of energy consumption and CO2 emissions in Mexican manufacturing industries: trends between 1990 and 2008. Energy Sustain Dev 16(1):57–67. https://doi.org/10.1016/j.esd.2011.08.003
Skeer J, Wang Y (2007) China on the move: oil price explosion? Energy Policy 35(1):678–691. https://doi.org/10.1016/j.enpol.2006.01.012
Squalli J (2007) Electricity consumption and economic growth: bounds and causality analyses of OPEC members. Energy Econ 29(6):1192–1205. https://doi.org/10.1016/j.eneco.2006.10.001
Stern D, Cleveland C (2004) Energy and economic growth (no. No.0410). Retrieved from https://www.scirp.org/(S(czeh2tfqyw2orz553k1w0r45))/reference/ReferencesPapers.aspx?ReferenceID=2005251
Su Q (2011) The effect of population density, road network density, and congestion on household gasoline consumption in U.S. urban areas. Energy Econ 33(3):445–452. https://doi.org/10.1016/j.eneco.2010.11.005
Tang CF, Tan BW (2014) The linkages among energy consumption, economic growth, relative price, foreign direct investment, and financial development in Malaysia. Qual Quant 48(2):781–797. https://doi.org/10.1007/s11135-012-9802-4
Thomas A, Spataro L, Mathew N (2014) Pension funds and stock market volatility: an empirical analysis of OECD countries. J Financ Stab 11(1):92–103. https://doi.org/10.1016/j.jfs.2014.01.001
Twerefou D, Akoena S, Agyire-Tettey F, Mawutor G (2007) Energy consumption and economic growth: evidence from Ghana. Retrieved from http://ugspace.ug.edu.gh/handle/123456789/2590
Vance C, Hedel R (2008) On the link between urban form and automobile use: evidence from German survey data. Land Econ 84(1):51–65. https://doi.org/10.3368/le.84.1.51
Wang S, Liu X (2017) China’s city-level energy-related CO2 emissions: spatiotemporal patterns and driving forces. Appl Energy 200:204–214. https://doi.org/10.1016/j.apenergy.2017.05.085
Wang S, Liu X, Zhou C, Hu J, Ou J (2017) Examining the impacts of socioeconomic factors, urban form, and transportation networks on CO2 emissions in China’s megacities. Appl Energy 185:189–200. https://doi.org/10.1016/j.apenergy.2016.10.052
Wang Q, Su M, Li R, Ponce P (2019) The effects of energy prices, urbanization and economic growth on energy consumption per capita in 186 countries. J Clean Prod 225:1017–1032. https://doi.org/10.1016/j.jclepro.2019.04.008
Wei T, Liu Y (2017) Estimation of global rebound effect caused by energy efficiency improvement. Energy Econ 66:27–34. https://doi.org/10.1016/j.eneco.2017.05.030
Xu S (2012) The impact of financial development on energy consumption in China: based on SYS-GMM estimation. Adv Mater Res 524–527:2977–2981. https://doi.org/10.4028/www.scientific.net/AMR.524-527.2977
Yandan, Zhang L (2009) Financial development and energy consumption: an empirical research based on Guangdong Province. 2009 International Conference on Information Management, Innovation Management and Industrial Engineering, ICIII 2009, 3, 102–105. https://doi.org/10.1109/ICIII.2009.334
Yang Z, Shao S, Yang L, Miao Z (2018) Improvement pathway of energy consumption structure in China’s industrial sector: from the perspective of directed technical change. Energy Econ 72:166–176. https://doi.org/10.1016/j.eneco.2018.04.003
Zaleski P (2001) Energy and geopolitical issues. Energy Security, Discovery Publishing House, New Delhi. Retrieved from https://scholar.google.com/scholar_lookup?title=Energyand geopolitical issues&author=P. Zaleski&publication_year=2001
Zhang XP, Cheng XM (2009) Energy consumption, carbon emissions, and economic growth in China. Ecol Econ 68(10):2706–2712. https://doi.org/10.1016/j.ecolecon.2009.05.011
Zoundi Z (2017) CO2 emissions, renewable energy and the environmental Kuznets curve, a panel cointegration approach. Renew Sust Energ Rev 72(February 2016):1067–1075. https://doi.org/10.1016/j.rser.2016.10.018
Author information
Authors and Affiliations
Contributions
MK: conceptualization, data curation, methodology, formal analysis, investigation, software, validation, writing—original draft. HY: supervision, writing—review and editing. BBF: writing—review and editing. AOA: writing—review and editing.
Corresponding author
Ethics declarations
Competing interests
The authors declare that they have no competing interests.
Ethics approval and consent to participate
Not applicable.
Consent for publication
Not applicable.
Additional information
Responsible editor: Nicholas Apergis
Publisher’s note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Rights and permissions
About this article
Cite this article
Kongkuah, M., Yao, H., Fongjong, B.B. et al. The role of CO2 emissions and economic growth in energy consumption: empirical evidence from Belt and Road and OECD countries. Environ Sci Pollut Res 28, 22488–22509 (2021). https://doi.org/10.1007/s11356-020-11982-8
Received:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11356-020-11982-8