Department of Economics, Faculty of Economics and Administrative Sciences, Cyprus International University, Nicosia, Northern Cyprus, Mersin-10, Turkey.
Strategic Planning, Financial Reporting, and Investor Relations Directorate, Borsa Istanbul, Istanbul, Turkey.
Environ Sci Pollut Res Int. 2023 Mar;30(13):38921-38938. doi: 10.1007/s11356-022-24707-w. Epub 2023 Jan 1.
This study investigates the time-frequency nexus of carbon dioxide (CO) emissions with economic growth, nonrenewable (i.e., coal, natural gas, and oil), and renewable (i.e., hydro and geothermal) energy consumption. In this context, BRICS countries (namely, Brazil, Russian Federation, India, China, and South Africa), which are leading emerging countries, are included, and quarterly data from 1990/Q1 to 2019/Q4 is used. The study employs the wavelet coherence (WC) approach to explore the co-movement between the variables at different frequencies. The empirical results show that (i) there is a strong and positive co-movement between CO emission and economic growth; however, it is weak for Russia and South Africa in the medium and long-term; (ii) coal energy consumption is strongly and positively co-moved with CO emission for all BRICS countries; (iii) natural gas energy consumption is strongly and positively co-moved with CO emissions in Brazil, India, and China; however, it is weakly and positively co-moved in Russia and South Africa; (iv) oil energy consumption is strongly and positively co-moved with CO emissions in Brazil, India, and China; however, it changes a bit for Russia and South Africa; (v) hydro energy consumption is weakly and positively co-moved with CO emissions in general, whereas country-based results vary; (vi) geothermal energy consumption is also similar to hydro energy consumption. Thus, the WC results highlight the strong co-movement of economic growth and nonrenewable energy consumption with CO emissions, whereas renewable energy consumption has a relatively lower co-movement. Based on the results, policy implications are also discussed for BRICS countries.
本研究考察了二氧化碳（CO）排放与经济增长、不可再生（即煤炭、天然气和石油）和可再生（即水力和地热能）能源消费之间的时频关系。在这方面，包括了金砖国家（巴西、俄罗斯联邦、印度、中国和南非），这些国家是主要的新兴国家，使用了 1990 年第一季度至 2019 年第四季度的季度数据。该研究采用小波相干（WC）方法来探索不同频率下变量之间的共同运动。实证结果表明：（i）CO 排放与经济增长之间存在强烈的正相关关系；然而，在中长期内，俄罗斯和南非的这种关系较弱；（ii）煤炭能源消费与金砖国家的 CO 排放之间存在强烈的正相关关系；（iii）天然气能源消费与巴西、印度和中国的 CO 排放之间存在强烈的正相关关系；然而，在俄罗斯和南非，这种关系较弱且为正相关；（iv）石油能源消费与巴西、印度和中国的 CO 排放之间存在强烈的正相关关系；然而，俄罗斯和南非的这种关系略有变化；（v）水力能源消费总体上与 CO 排放呈弱正相关，而各国的结果则有所不同；（vi）地热能消费也与水力能源消费相似。因此，WC 结果突出了经济增长和不可再生能源消费与 CO 排放之间的强烈共同运动，而可再生能源消费的共同运动则相对较低。基于这些结果，还为金砖国家讨论了政策含义。
