The Effects of Tourism, Economic Growth and Renewable Energy on Carbon Dioxide Emissions
This study discusses the relationship between tourism demand and carbon dioxide (CO2) emissions, as well as the correlation between renewable energy and CO2 emissions. To achieve this, a robust panel methodology is employed for EU-28 countries. First, pre
- PDF / 408,632 Bytes
- 21 Pages / 439.37 x 666.142 pts Page_size
- 66 Downloads / 251 Views
The Effects of Tourism, Economic Growth and Renewable Energy on Carbon Dioxide Emissions Nuno Carlos Leitão and Daniel Balsalobre-Lorente
Abstract This study discusses the relationship between tourism demand and carbon dioxide (CO2 ) emissions, as well as the correlation between renewable energy and CO2 emissions. To achieve this, a robust panel methodology is employed for EU-28 countries. First, preliminary descriptive summary statistics and correlation analysis. Second, unit root tests in panel data (Levin et al. in J Econom, 108:1–24, 2002; ADF– Fisher Chi-square, and Phillips–Perron) to establish stationarity traits of the outlined variables Subsequently, we use Pedroni (Rev Econom Stat 83(4):727–731, 2001, Econom Theory 20(03):597–625, 2004), a panel data Random Effects (RE), DOLS (Panel Dynamic Least Squares) and panel Granger causality test, as econometric methodologies for long-run equilibrium relationship and detection of causality flow, respectively. The econometric empirical results confirm that there exists an InvertedU linkage between economic growth and environmental degradation, which validates the Environmental Kuznets Curve (EKC) hypothesis for EU-28 countries. Furthermore, empirical results show a negative association between tourist arrivals and CO2 emissions, making it possible to infer that the tourism sector accentuates climate change. Regarding renewable energy, the results validate the negative relationship between this variable and carbon dioxide emissions, which is in line with previous studies. This result validates the position of the United Nation Sustainable Development Goals (UN-SDG’s) of access to clean energy (renewable energy) and mitigation of climate change issues. This empirical study also presents conclusions that are useful for policymakers and stakeholders. Keywords CO2 emissions · Tourism arrivals · Renewable energy · Panel data N. C. Leitão (B) Polytechnic Institute of Santarém, Center for Advanced Studies in Management and Economics, Évora University, Évora, Portugal e-mail: [email protected] Center for African and Development Studies, Lisbon University, 1200-781 Lisbon, Portugal D. Balsalobre-Lorente Department of Political Economy and Public Finance, Economic and Business Statistics and Economic Policy, University of Castilla-La Mancha, Cuenca, Spain e-mail: [email protected] © The Author(s), under exclusive license to Springer Nature Switzerland AG 2021 D. Balsalobre-Lorente et al. (eds.), Strategies in Sustainable Tourism, Economic Growth and Clean Energy, https://doi.org/10.1007/978-3-030-59675-0_4
67
68
N. C. Leitão and D. Balsalobre-Lorente
JEL Classification Q20 · Q50 · Z30
4.1 Introduction Researchers have been concerned over the past few decades to look at the tourism sector as it contributes to the economic growth of tourist receiving economies, as well as stimulating employment and the possibility of establishing business networks. The empirical studies have been an interest in evaluating the determinants of tourism demand (Tavares and L
Data Loading...
