Research Department, Central Bank of Nigeria, Abuja, Nigeria.
Faculty of Economics, and Administrative and Social Sciences, Istanbul Gelisim University, Istanbul, Turkey.
Environ Sci Pollut Res Int. 2020 Jul;27(20):25450-25460. doi: 10.1007/s11356-020-08784-3. Epub 2020 Apr 29.
Giving that People's Republic of China is one of the two new frontiers of globalization, the country has continued to contend with the bottleneck of sustaining its economic growth amidst environmental hiccups arising from the drawbacks of globalization and energy consumption. By investigating the challenges of the country's drive toward environmental sustainability, the present study offers a new perspective on the role of electricity consumption and economic growth in a carbon-income function setting. This study also incorporates globalization into CO emissions equation for the experimental period of 1970-2014. Stationarity properties were ascertained by the Zivot and Andrew unit root test under a single structural break. Subsequently, the recent and novel combined cointegration test of Bayer and Hanck (2013) in conjunction with the Pesaran bounds testing approach is used to establish a cointegration relationship among the selected variables. Finally, the modified Wald test of the Toda-Yamamoto Granger causality test is employed to detect the direction of causality flows among the variables. Empirical piece of evidence finds a statistically positive correlation between electricity consumption and economic growth as seen in the long-run regression. This result is also affirmed by the Granger causality test. The test corroborates with the electricity-induced growth hypothesis in the case of China. However, there is an environmental trade-off, as more electricity consumptions spur increased carbon dioxide emissions (CO). Our study finds empirical support that globalization reduced pollutant emissions in both the short and long run over our sampled period. Based on these results and outcomes, several policy prescriptions on the energy-income and environment nexus are renders for policymakers. Among such policy recommendations are (a) the need for the diversification of the Chinese energy mix to cleaner energy sources and renewables and (b) the need for decarbonization and adoption of carbon capturing and storage technologies.
鉴于中华人民共和国是全球化的两个新前沿之一，中国在继续应对环境可持续性挑战的同时，还必须应对全球化和能源消耗的弊端所带来的经济增长瓶颈。本研究通过调查中国环境可持续发展的挑战，为电力消费和经济增长在碳收入函数设定中的作用提供了一个新的视角。本研究还将全球化纳入了 1970-2014 年实验期间的 CO 排放方程。在单一结构断点下，通过 Zivot 和 Andrew 单位根检验确定了平稳性。随后，采用 Bayer 和 Hanck（2013 年）的最新和新颖的联合协整检验以及 Pesaran 边界检验方法，建立了所选变量之间的协整关系。最后，采用 Toda-Yamamoto 格兰杰因果检验的修正 Wald 检验来检测变量之间因果关系的流向。实证证据发现，在长期回归中，电力消费与经济增长之间存在统计上的正相关关系。这一结果也得到了格兰杰因果关系检验的证实。该检验在中国支持电力驱动增长的假设。然而，存在环境权衡，因为更多的电力消耗会刺激二氧化碳排放（CO）的增加。我们的研究发现，在我们的样本期内，全球化在短期和长期内都减少了污染物排放，这得到了实证支持。基于这些结果和结论，我们为政策制定者提出了一些关于能源-收入和环境关系的政策建议。这些政策建议包括：（a）需要使中国的能源结构多样化，使用更清洁的能源和可再生能源；（b）需要脱碳和采用碳捕获和储存技术。
