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dc.contributor.author
Kolopta, Androniki
en
dc.date.accessioned
2015-06-18T11:36:42Z
dc.date.available
2015-09-27T05:57:50Z
dc.date.issued
2015-06-18
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/420
dc.rights
Default License
dc.title
Global CO2 emissions, global energy consumption and global economic growth
en
heal.type
masterThesis
heal.keyword
Carbon dioxide
en
heal.keyword
Air--Pollution
en
heal.keyword
Energy consumption--Economic aspects
en
heal.keyword
Power resources
en
heal.keyword
Economic development
en
heal.keyword
Dissertations, Academic
en
heal.keywordURI.LCSH
CO2 emissions
heal.keywordURI.LCSH
economic growth
heal.keywordURI.LCSH
energy consumption
heal.keywordURI.LCSH
causal relationship
heal.language
en
heal.access
free
el
heal.license
http://creativecommons.org/licenses/by-nc/4.0
heal.recordProvider
School of Science and Technology, MSc in Energy Systems
heal.publicationDate
2012-10
heal.bibliographicCitation
Kolopta, Androniki, 2012 , Global CO2 emissions, global energy consumption anf global economic growth ,Master's Dissertation, International Hellenic University
en
heal.abstract
This dissertation study was written as a part of the MSc in Energy Systems at the International Hellenic University and investigates the existence of causal relationship between economic growth, carbon dioxide emissions (CO2 hereafter) and energy consumption for the sample period 1971-2011 within a global framework. In a first step, several unit root tests are implemented to detect the order of integration for each one of the time series, with or without breaks. All the variables are integrated of order one. In a second step, a number of tests are applied in order to discover the existence of cointegration in the series. The results reveal that no cointegration is evident. For the examination of causality, the well-known parametric causality tests of Granger, Toda-Yamamoto and Hsiao are used. According to the results, for the former there is causality running from energy consumption to CO2 emissions with no feedback, while for the latter there is unidirectional causality once more running from energy consumption to CO2 emissions but also from GDP to energy consumption as well as to CO2 emissions. With regard to the last test, unidirectional causality is evident running from energy consumption to CO2 emissions and from CO2 emissions to GDP, whereas bi-directional causality exists between energy consumption and GDP. Eventually, two non-parametric causality tests are employed in order to identify possible non-linear causal relationships. At this point, I would like to express my sincere thanks to Professor E. Sartzetakis for supervising this study. Moreover, I would like to thank Dr. T. Dergiades who helped me with the E-Views software and supported me during the elaboration of this present dissertation.
en
heal.tableOfContents
1. Introduction ........................................................................................................................... 6
2. Literature Review .................................................................................................................. 9
3. Data and Methodology ........................................................................................................ 25
3.1 Data ................................................................................................................................ 25
3.2 Unit Root Tests .............................................................................................................. 26
3.2.1 Augmented Dickey-Fuller test ................................................................................. 27
3.2.2 Generalized Least Squares de-trending Dickey-Fuller test ..................................... 28
3.2.3 Phillips and Perron test ........................................................................................... 29
3.3 Stationarity test .............................................................................................................. 29
3.3.1 Kwiatkowski-Phillips-Schmidt-Shin test .................................................................. 29
3.4 Unit root tests with breaks .............................................................................................. 30
3.4.1 Zivot-Andrews unit root test for one break .............................................................. 30
3.4.2 Perron unit root test for one break .......................................................................... 31
3.5 The KSS non-linear unit root test .................................................................................. 32
3.6 The VAR Model, Cointegration and VECM .................................................................. 33
3.6.1 The VAR Model ....................................................................................................... 34
3.6.2 Cointegration and VECM ........................................................................................ 35
3.6.3 Johansen approach to cointegration ....................................................................... 35
3.6.4 Engle and Granger approach to cointegration ....................................................... 36
3.6.5 The ARDL approach to cointegration ..................................................................... 38
3.7 The GARCH BEKK Model ........................................................................................... 41
3.8 Testing for non-linearity in the series ............................................................................. 42
3.8.1 The BDS test ............................................................................................................. 42
3.9 Parametric Causality Tests ............................................................................................. 43
3.9.1 Granger causality .................................................................................................... 43
3.9.2 Toda-Yamamoto causality test ................................................................................. 44
3.9.2 Hsiao two-stage causality method .......................................................................... 45
3.10 Non-parametric Causality Tests ................................................................................... 46
4
3.10.1 Hiemstra and Jones test ......................................................................................... 46
3.10.2 Diks and Panchenko modification test ................................................................... 48
4. Empirical Application .......................................................................................................... 49
4.1 Unit root tests .................................................................................................................. 49
4.2 Unit root tests with breaks .............................................................................................. 51
4.3 The KSS non-linear unit root test ................................................................................... 52
4.4 Cointegration tests .......................................................................................................... 53
4.4 The BDS test ................................................................................................................... 54
4.5 Parametric causality tests ................................................................................................ 55
4.6 Non-parametric causality tests ........................................................................................ 57
5. Discussion of the results ....................................................................................................... 61
5.1 Unit root test results ........................................................................................................ 61
5.2 Cointegration test results ................................................................................................ 62
5.3 BDS test results .............................................................................................................. 63
5.4 Parametric causality tests ................................................................................................ 63
5.5 Non-parametric causality tests ........................................................................................ 64
6. Policy recommendations ..................................................................................................... 66
7. Conclusions ......................................................................................................................... 70
References ............................................................................................................................... 73
en
heal.advisorName
Sartzetakis, Professor E.
en
heal.committeeMemberName
Sartzetakis, Professor E.
en
heal.committeeMemberName
Prof. Apergis
en
heal.committeeMemberName
Dr. Dergiades
en
heal.academicPublisher
School of Science &Technology, Master of Science (MSc) in Energy Systems
en
heal.academicPublisherID
ihu
heal.numberOfPages
81
heal.fullTextAvailability
true
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