GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations
This research aims to ensure methodological conformance and to test the validity of its empirical application. To do so, the study analysed differentiation of the development patterns of four time-series variables. The relationships between greenhouse gas (GHG) emissions, employment, inflation, and...
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2022
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Online Access: | https://doi.org/10.3390/jrfm15110518 https://doaj.org/article/718b7d3ae78a46e0b05e7f268e948d31 |
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ftdoajarticles:oai:doaj.org/article:718b7d3ae78a46e0b05e7f268e948d31 2023-05-15T16:50:35+02:00 GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations Sergej Gricar Stefan Bojnec Tea Baldigara 2022-11-01T00:00:00Z https://doi.org/10.3390/jrfm15110518 https://doaj.org/article/718b7d3ae78a46e0b05e7f268e948d31 EN eng MDPI AG https://www.mdpi.com/1911-8074/15/11/518 https://doaj.org/toc/1911-8066 https://doaj.org/toc/1911-8074 doi:10.3390/jrfm15110518 1911-8074 1911-8066 https://doaj.org/article/718b7d3ae78a46e0b05e7f268e948d31 Journal of Risk and Financial Management, Vol 15, Iss 518, p 518 (2022) greenhouse gas emissions green economic transformation vector autoregressive model European Union European Free Trade Association experimental economics Risk in industry. Risk management HD61 Finance HG1-9999 article 2022 ftdoajarticles https://doi.org/10.3390/jrfm15110518 2022-12-30T20:13:13Z This research aims to ensure methodological conformance and to test the validity of its empirical application. To do so, the study analysed differentiation of the development patterns of four time-series variables. The relationships between greenhouse gas (GHG) emissions, employment, inflation, and gross domestic product (GDP) at constant prices were analysed, comparing the European Union (EU-27) and two European Free Trade Association countries. The study period covers twelve years of monthly and quarterly data from the beginning of 2010 to mid-2021, where the highest frequency of data was 138 observations. The methodology used included unit root testing and the vector autoregressive model (VAR). The study’s main results show that GDP at constant prices significantly affected GHG emissions in the EU-27 countries. Meanwhile, the lag between inflation and employment did not have a considerable impact. This finding shows that inflation was not a stable variable and had a strong autocorrelation. Variable employment did not follow a normal distribution. It was necessary for this research to adopt a suitable model for the technical procedure. Article in Journal/Newspaper Iceland Directory of Open Access Journals: DOAJ Articles Norway Journal of Risk and Financial Management 15 11 518 |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English |
topic |
greenhouse gas emissions green economic transformation vector autoregressive model European Union European Free Trade Association experimental economics Risk in industry. Risk management HD61 Finance HG1-9999 |
spellingShingle |
greenhouse gas emissions green economic transformation vector autoregressive model European Union European Free Trade Association experimental economics Risk in industry. Risk management HD61 Finance HG1-9999 Sergej Gricar Stefan Bojnec Tea Baldigara GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
topic_facet |
greenhouse gas emissions green economic transformation vector autoregressive model European Union European Free Trade Association experimental economics Risk in industry. Risk management HD61 Finance HG1-9999 |
description |
This research aims to ensure methodological conformance and to test the validity of its empirical application. To do so, the study analysed differentiation of the development patterns of four time-series variables. The relationships between greenhouse gas (GHG) emissions, employment, inflation, and gross domestic product (GDP) at constant prices were analysed, comparing the European Union (EU-27) and two European Free Trade Association countries. The study period covers twelve years of monthly and quarterly data from the beginning of 2010 to mid-2021, where the highest frequency of data was 138 observations. The methodology used included unit root testing and the vector autoregressive model (VAR). The study’s main results show that GDP at constant prices significantly affected GHG emissions in the EU-27 countries. Meanwhile, the lag between inflation and employment did not have a considerable impact. This finding shows that inflation was not a stable variable and had a strong autocorrelation. Variable employment did not follow a normal distribution. It was necessary for this research to adopt a suitable model for the technical procedure. |
format |
Article in Journal/Newspaper |
author |
Sergej Gricar Stefan Bojnec Tea Baldigara |
author_facet |
Sergej Gricar Stefan Bojnec Tea Baldigara |
author_sort |
Sergej Gricar |
title |
GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
title_short |
GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
title_full |
GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
title_fullStr |
GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
title_full_unstemmed |
GHG Emissions and Economic Growth in the European Union, Norway, and Iceland: A Validated Time-Series Approach Based on a Small Number of Observations |
title_sort |
ghg emissions and economic growth in the european union, norway, and iceland: a validated time-series approach based on a small number of observations |
publisher |
MDPI AG |
publishDate |
2022 |
url |
https://doi.org/10.3390/jrfm15110518 https://doaj.org/article/718b7d3ae78a46e0b05e7f268e948d31 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Journal of Risk and Financial Management, Vol 15, Iss 518, p 518 (2022) |
op_relation |
https://www.mdpi.com/1911-8074/15/11/518 https://doaj.org/toc/1911-8066 https://doaj.org/toc/1911-8074 doi:10.3390/jrfm15110518 1911-8074 1911-8066 https://doaj.org/article/718b7d3ae78a46e0b05e7f268e948d31 |
op_doi |
https://doi.org/10.3390/jrfm15110518 |
container_title |
Journal of Risk and Financial Management |
container_volume |
15 |
container_issue |
11 |
container_start_page |
518 |
_version_ |
1766040713281142784 |