Abstract
An abnormal rise in greenhouse gases in the atmosphere has triggered a range of environmental problems the foremost of which is global warming. CO2 is among the gases most responsible for the greenhouse effect. That is why, after the 1990s, new tax regimes, also known as energy-carbon taxes, were put in place in an attempt to lower emissions. There is still an ongoing discussion as to whether tax regimes are working in practice. Certain studies have indicated that carbon taxes are effective or partially effective in preventing CO2 emissions. However, others assert that there is no causal relationship between carbon taxes and the lowering of greenhouse gas emissions. In this study, the annual data of 36 OECD countries in the period of 1990-2018 were used. To detect whether a carbon tax is effective in reducing greenhouse gas emissions, the panel data analysis method was employed. The results of the analysis revealed that carbon taxes have no effect on greenhouse gas emissions.
Highlights
In the 21st century, an era already characterized by an increasing global population and a rising consumption culture, there is a corresponding rise in the demand for technology and energy
To see if the data that were stationary in level value and the ratio of carbon taxes by GNP had any effect on greenhouse gas emissions, a panel data analysis was employed
To cope with environmental problems caused by greenhouse gases, a great number of countries have put carbon taxes into practice
Summary
In the 21st century, an era already characterized by an increasing global population and a rising consumption culture, there is a corresponding rise in the demand for technology and energy. A rapid rise in the ratio of these gases is the reason for this problem known as global warming, resulting in a change in climate and the pollution of nature. Another element of this Protocol was the suggestion that well-designed environmental taxes would be effective tools in solving the problem.
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