RESUMO
An extensive decomposition analysis was used to research the primary driving forces behind energy-related carbon dioxide emissions per capita for the period 1993 to 2017 in a panel of South American countries. Evidence was found that the effect of per capita renewable productivity was challenging and compromised in South Latin American countries. Decoupling changed from a weak state to a strong decoupling state after the Kyoto protocol. When we remove the renewable productivity per capita effect, the results show that the state of strong decoupling was mainly achieved due to a group of economic drivers, with the negative changes in energy intensity, and in the gross domestic investment, proving to be the most significant contributors to decreasing CO2 emission per capita.
Assuntos
Dióxido de Carbono/análise , Investimentos em Saúde , Desenvolvimento Econômico , América Latina , América do SulRESUMO
This article researches the impact of financial openness on environmental degradation in the MERCOSUR countries over the time spanning from 1980 to 2014. The Panel Autoregressive Distributed Lag (PARDL), in the form of Unrestricted Error Correction Model (UECM), was computed with the purpose of decomposing the total effects of variables in their short- and long-run ones. The results of short-run impacts and elasticities of PARDL model showed that the financial openness increases the CO2 emissions both in the short- and in the long-run. Moreover, the results also support that economic growth, consumption of primary energy, and agricultural production are responsible for an increase of emissions in the MERCOSUR countries. Therefore, these empirical findings will help expand the literature that assesses the impact of financial development on the environment. The results also point out to the need of policymakers to change the way the energy mix is financed.