Energy Consumption, Carbon Dioxide Emissions and Economic Growth: Fresh Evidence From Panel Quantile Regressions

Abstract

This paper analyzes the association between energy consumption, carbon dioxide emissions and economic growth. The results from panel quantile regressions for 57 countries and three different regions support deviations from sustainable growth in the full sample, as well as the European and Asian country samples. Similar results are obtained from Middle East and African countries, but the deviations begin earlier. In the Latin American findings, the estimates reveal that carbon emissions (at all levels) and energy consumption (at the medium and high levels) exert a negative impact on economic growth, indicating the inability of these countries to achieve sustainable economic growth.