Energy consumption, carbon dioxide emissions and economic growth: Fresh evidence from 57 countries and panel quantile regressions

Abstract

This paper analyzes the association across energy consumption, carbon dioxide emissions and economic growth. According to the results of panel quantile regression model for 57 countries from three different regions, deviations from sustainable growth after the middle growth level in the full sample and the European and Asian countries sample are prominent. Similar results are obtained from Middle East and African countries, but the deviations begin earlier. In the case of the Latin American findings, the estimates clearly document that carbon emissions (at all levels) and energy consumption (at the medium and high levels) exert a negative impact on economic growth, indicating the inability of Latin American countries to achieve sustainable economic growth targets.