European institutional quality and carbon emissions: Convergence club analysis

IF 5 2区 经济学 Q1 ECONOMICS Structural Change and Economic Dynamics Pub Date : 2024-09-20 DOI:10.1016/j.strueco.2024.09.013
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Abstract

If the quality of institutions in the European Union (EU) converged, harmonized policies could achieve climate neutrality. This paper examines institutional convergence within the EU using log-t regression, allowing for the possibility of multiple equilibria. It also analyzes how overall institutional quality affects carbon dioxide (CO2) emissions in three identified convergence clubs over thirty years. Driscoll-Kraay and Prais-Winsten standard errors estimators are used, accounting for economic growth, renewable energy, industrialization, urbanization, innovation, and exogenous shocks. The results show that institutional quality affects CO2 emissions differently across clubs, emphasizing customized policy approaches. Addressing endogeneity, a two-stage least squares fixed effects estimator reveals that institutional quality has a negative, but statistically insignificant, effect on CO2 emissions in both the highest and lowest institutional quality clubs, while significantly increasing emissions in the mid-tier club. Economic growth increases CO2 emissions, whereas renewable energy consumption reduces them across all convergence clubs and methods. Other factors vary across clubs.
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欧洲机构质量与碳排放:趋同俱乐部分析
如果欧洲联盟(欧盟)的机构质量趋同,统一的政策就能实现气候中和。本文采用对数回归法研究了欧盟内部的制度趋同,并考虑了多重均衡的可能性。本文还分析了三十年来三个已确定的趋同俱乐部的整体制度质量如何影响二氧化碳(CO2)排放量。研究使用了 Driscoll-Kraay 和 Prais-Winsten 标准误差估算器,并考虑了经济增长、可再生能源、工业化、城市化、创新和外生冲击。结果表明,制度质量对各俱乐部二氧化碳排放量的影响不同,强调了定制化的政策方法。为解决内生性问题,采用两阶段最小二乘法固定效应估计法发现,在制度质量最高和最低的俱乐部中,制度质量对二氧化碳排放量的影响均为负数,但在统计上并不显著,而在中等水平的俱乐部中,二氧化碳排放量则显著增加。在所有趋同俱乐部和方法中,经济增长增加了二氧化碳排放量,而可再生能源消费则减少了排放量。其他因素也因俱乐部而异。
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来源期刊
CiteScore
9.60
自引率
4.90%
发文量
159
期刊介绍: Structural Change and Economic Dynamics publishes articles about theoretical, applied and methodological aspects of structural change in economic systems. The journal publishes work analysing dynamics and structural breaks in economic, technological, behavioural and institutional patterns.
期刊最新文献
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