AN ANALYSIS OF THE NEXUS BETWEEN THE SELECTED MACROECONOMIC INDICATORS AND CO2 EMISSIONS IN ASEAN-5 COUNTRIES: PANEL DATA APPROACH

Bradley Belayong, Charle (2022) AN ANALYSIS OF THE NEXUS BETWEEN THE SELECTED MACROECONOMIC INDICATORS AND CO2 EMISSIONS IN ASEAN-5 COUNTRIES: PANEL DATA APPROACH. [Final Year Project Report] (Unpublished)

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Abstract

This study aims to examine the relationships between renewable energy consumption, foreign direct investment, economic growth, and the emissions of CO2. A long panel data consisting of 20 years of observation, particularly from 1998 to 2018 has been used in order to conduct this study. An annual dataset that has been used throughout the implementation of this research is primarily taken from World Bank Data which thus the data has been analyzed using E-views software with several methods to determine the short run and long run relationships between the variables. Such methods include Unit Root Test, Pooled Mean Group as well as Fully Modified OLS (FMOLS) Estimator. The findings of the empirical analysis show that there are relationships between renewable energy consumption, foreign direct investment, economic growth, and CO2 emissions in ASEAN-5 countries, namely Singapore, Thailand, Malaysia, Indonesia and Philippines. With the provisions of the results, there are several policy implication and recommendations that have been listed in this study to mitigate the effect on the environment.

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