Environmental Kuznets curve for CO₂ emissions - an ARDL-based approach for an emerging market
by Hind Lebdaoui; Maroua El Asri; Youssef Chetioui
Interdisciplinary Environmental Review (IER), Vol. 21, No. 3/4, 2021

Abstract: This paper empirically examines the relationships between CO₂ emissions, energy consumption, inward foreign direct investment and economic growth in Morocco between 1970 and 2018. The environmental Kuznets curve (EKC) hypothesis is assessed, and the autoregressive distributed lags (ARDL) bound and vector error correction method (VECM) are used to examine the posited relationships in an emerging market, where authorities give more importance to economic growth than environmental concerns. Our results suggest the existence of an inverted U-shaped relationship between CO₂ emissions and economic growth. Furthermore, the VECM-based Granger causality illustrates the existence of a bi-directional causality between CO₂ emissions and economic growth in the long-run, and a uni-directional causality from CO₂ emissions to FDI in the short run. In spite of the gradual switch toward a green economy, further attention is to be directed to alternative sources such as wind, solar, and hydropower in order to maintain a sustainable growth.

Online publication date: Wed, 23-Mar-2022

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