Ghana_Carbon dioxide emissions.pdf (302.22 kB)
Carbon dioxide emissions, GDP, energy use, and population growth: a multivariate and causality analysis for Ghana, 1971–2013
journal contribution
posted on 2016-05-15, 22:16 authored by Samuel Asumadu SarkodieSamuel Asumadu Sarkodie, Phebe Asantewaa OwusuPhebe Asantewaa OwusuIn this study, the relationship between carbon dioxide emissions, GDP, energy use, and population growth in Ghana was investigated from 1971 to 2013 by comparing the vector error correction model (VECM) and the autoregressive distributed lag (ARDL). Prior to testing for Granger causality based on VECM, the study tested for unit roots, Johansen’s multivariate co-integration and performed a variance decomposition analysis using Cholesky’s technique. Evidence from the variance decomposition shows that 21 % of future shocks in carbon dioxide emissions are due to fluctuations in energy use, 8 % of future shocks are due to fluctuations in GDP, and 6 % of future shocks are due to fluctuations in population. There was evidence of bidirectional causality running from energy use to GDP and a unidirectional causality running from carbon dioxide emissions to energy use, carbon dioxide emissions to GDP, carbon dioxide emissions to population, and population to energy use. Evidence from the long-run elasticities shows that a 1 % increase in population in Ghana will increase carbon dioxide emissions by 1.72 %. There was evidence of short-run equilibrium relationship running from energy use to carbon dioxide emissions and GDP to carbon dioxide emissions. As a policy implication, the addition of renewable energy and clean energy technologies into Ghana’s energy mix can help mitigate climate change and its impact in the future.
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- Socio-economic development
- Econometrics not elsewhere classified
- Econometric and statistical methods
- Economic models and forecasting
- Economic history
- Other economics not elsewhere classified
- Environment and resource economics
- Energy generation, conversion and storage (excl. chemical and electrical)
- Electrical energy generation (incl. renewables, excl. photovoltaics)
- Climate change processes
- Climatology
- Ecological impacts of climate change and ecological adaptation
Keywords
Variance decompositionCarbon dioxide emissionsCarbon Dioxide EmissionsGhanaMultivariate co-integrationARDL bound testEconometricseconometricsclimate change concernsClimate Change ConditionsOA Week 2016Economic Development and GrowthEconometrics not elsewhere classifiedEconometric and Statistical MethodsEconomic Models and ForecastingEconomic HistoryEconomicsEnvironment and Resource EconomicsEnergy Generation, Conversion and Storage EngineeringRenewable Power and Energy Systems Engineering (excl. Solar Cells)Climate Change ProcessesClimate ScienceClimatology (excl. Climate Change Processes)Ecological Impacts of Climate Change
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