Abstract
The aim of this study is to determine whether recent environmental spending in China has enabled it to reduce its emissions of greenhouse gases in the context of an Environmental Kuznets Curve-based model and promote sustainable economic development. Following the Paris Agreement in 2015, there has been a coordinated effort to reduce the consumption of fossil fuels and prevent the excessive warming of the climate. The study uses annual regional data across China and a dynamic panel data approach for estimating an EKC model which includes measures of the increased use of fossil fuels and the spending across China to reduce environmental damage. The results suggest that the policies have been effective in controlling emissions across a variety of pollutants and that the EKC tends to hold in China but varies according to the pollutant. This suggests that these policies should be continued and where possible, extended.
Highlights
Spending in China and theThere is an increasing demand for countries across the world to reduce their pollution in general and fossil fuel use in particular
Regarding China’s provincial analysis, the quadratic functions of gross domestic product (GDP) per capita will be introduced into the Environmental Kuznets Curve model (EKC) model to model the non-linear nature of the relationship
Due to the short time series, the preferred specification is contained in Equation (2) above, which follows the standard approach to EKC modelling
Summary
There is an increasing demand for countries across the world to reduce their pollution in general and fossil fuel use in particular. Since the Paris Agreement in 2015, countries around the world have agreed to reduce fossil fuel use and ensure that the temperature doesn’t rise by more than 2 degrees relative to pre-industrial levels. The aim of this study is to estimate a model including measures of the recent environmental-spending policies in. In the context of the Environmental Kuznets Curve model (EKC). This study uses an applied approach to analysing the effectiveness of environmental expenditure from the perspective of government-based spending and the levels of investment to determine which has worked best to date, in the context of the EKC model. Environmental Kuznets curve in Romania and the role of energy consumption.
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