Catch-up growth with alpha and beta decoupling and their relationships between CO2 emissions by GDP, population, energy production, and consumption

Abstract

This study explores the relationship between CO2 emissions by GDP, population, energy production, and consumption in the United States, China, Romania, and Thailand economies from 1990 to 2019. It evaluates the phenomenon of catch-up growth, which transpires when an lagging economy goes through an expansionary phase after a period of below-average performance. We used the stochastic model to illustrate in terms of alpha and beta decoupling techniques. The outcomes validated by positive and negative decoupling attitudes play a crucial role in predicting a rise in CO2 emissions owing to oil, gas, and coal use in comparison to Romania. Thailand and Romania have a more viable road to sustainability than the United States and China. The United States and China appear to have an antagonistic relationship, as suggested by decoupling attitudes. Thailand and Romania are considered to be highly environmentally sustainable countries on account of their minimal carbon emissions, efficient energy usage, and forward-thinking environmental policies. Accordingly, policy recommendations are offered based on CO2 emissions and effective mitigation policies, since this allows for determining which countries with high emissions need technological advances, best practices, and intersectoral policies.