Economic determinants of national carbon emissions: Perspectives from 119 countries

Abstract

The study aims to analyze the economic determinants of national carbon emissions in a large cross-section of 119 countries. The study followed the ‘theory of sustainable development’ to assess the national sustainable developmental agenda. The study employed cross-sectional, robust least squares, and Markov switching regression for parameter estimates. The findings indicate that information disclosure, the cost of business start-up procedures, sustainable fuel imports, and renewable energy decrease emissions stock. In contrast, ease of doing business and logistics operations increase it. According to the ex-ante analysis, information disclosure, the cost of business start-up procedures, and environmentally friendly logistical operations would likely reduce emissions stock. Ease of doing business and lower renewable fuel expenditures will almost certainly increase emissions stock in the majority of subsequent years. Over time, information disclosure is expected to significantly impact carbon emissions, followed by renewable energy consumption, doing business, and logistical operations. Sustainable economic policies worldwide make it possible for green technology and environmentally friendly manufacturing to be put into place.