The analysis of the relationship between CO2 level and economic growth

Keywords: global warming, CO2, environment, protection, GDP, measures, trend, growth, developing and developed countries

Abstract

2019 was Earth's second warmest year since 1850. In 2019 the global mean temperature was cooler than in 2016, but warmer than any other year explicitly measured. Consequently, 2016 is still the warmest year in historical observation history. Year-to-year rankings are likely to reflect natural fluctuations in the short term, but the overall pattern remains consistent with a long-term global warming trend. This would be predicted from global warming, caused by greenhouse gases, temperature increase across the globe is broadly spread, impacting almost all areas of land and oceans. “Climate change" and "global warming" are often used interchangeably, but are of distinct significance. Global warming is the long-term heating of the Earth's climate system, observed since the pre-industrial period as a result of human activities, mainly the combustion of fossil fuel, which raises the heat-trapping greenhouse gas levels in the Earth's air. The term is often used interchangeably with the term climate change, as the latter applies to warming, caused both humanly and naturally, and the impact it has on our planet. This is most generally calculated as the average increase in global surface temperature on Earth. In our research, we examine the relationship between the regulation of carbon emissions and the GDP / capita relationship between developed and developing countries. We assumed applying carbon abatement policies will reduce economic growth and GDP in developed countries, but it will rise economic growth and GDP in developing countries.

Downloads

Download data is not yet available.

References

Nordhaus, W. (2018). Projections and Uncertainties about Climate Change in an Era of Minimal Climate Policies. American Economic Journal: Economic Policy, 10 (3), 333–360. doi: http://doi.org/10.1257/pol.20170046

Ramanathan, V., Allison, J. E., Auffhammer, M., Auston, D., Barnosky, A. D., Chiang, L. et. al.; Ramanathan, V. (Ed.) (2016). Chapter 1. Bending the curve: Ten scalable solutions for carbon neutrality and climate stability. Bending the Curve: Ten scalable solutions for carbon neutrality and climate stability. Collabra, 2 (1), 1–17. doi: http://doi.org/10.1525/collabra.55

Barrett, S., Stavins, R. (2003). Increasing Participation and Compliance in International Climate Change Agreements. International Environmental Agreements: Politics, Law and Economics, 3 (4), 349–376. doi: http://doi.org/10.1023/b:inea.0000005767.67689.28

Frolking, S., Roulet, N., Fuglestvedt, J. (2006). How northern peatlands influence the earth’s radiative budget: sustained methane emission versus sustained carbon sequestration. Journal of Geophysical Research Biogeosciences, 111, G01008. doi: http://doi.org/10.1029/2005jg000091

Cloy, J. M., Smith, K. A. (2018). Greenhouse Gas Sources and Sinks. Encyclopedia of the Anthropocene, 391–400. doi: http://doi.org/10.1016/b978-0-12-809665-9.09961-4

Perry, L. G., Andersen, D. C., Reynolds, L. V., Nelson, S. M., Shafroth, P. B. (2011). Vulnerability of riparian ecosystems to elevated CO2 and climate change in arid and semiarid western North America. Global Change Biology, 18 (3), 821–842. doi: http://doi.org/10.1111/j.1365-2486.2011.02588.x

Shao, J., Zhou, X., Luo, Y., Li, B., Aurela, M., Billesbach, D. et. al. (2016). Direct and indirect effects of climatic variations on the interannual variability in net ecosystem exchange across terrestrial ecosystems. Tellus B: Chemical and Physical Meteorology, 68 (1), 30575. doi: http://doi.org/10.3402/tellusb.v68.30575

Köhler, P., Nehrbass-Ahles, C., Schmitt, J., Stocker, T. F., Fischer, H. (2017). A 156 kyr smoothed history of the atmospheric greenhouse gases CO2, CH4, and N2O and their radiative forcing. Earth System Science Data, 9 (1), 363–387. doi: http://doi.org/10.5194/essd-9-363-2017

Clark, W. C., Dickson, N. M. (2001). ‘Civil Science: America’s Encounter with Global Environmental Risks,’ in Social Learning Group, Learning to Manage Global Environmental Risks: A Comparative History of Responses to Climate Change. Cambridge: Ozone Depletion, and Acid Rain, MIT Press, 259–294.

Weart, S. (2003). The Discovery of Global Warming. Cambridge: Harvard University Press, 228.

Hecht, A. D., Tirpak, D. (1995). Framework agreement on climate change: a scientific and policy history. Climatic Change, 29 (4), 371–402. doi: http://doi.org/10.1007/bf01092424

CIA. The World Factbook. Available at: https://www.cia.gov/the-world-factbook/

WDI (2019). World Development Indicators. Available at: https://databank.worldbank.org/source/world-development-indicators


👁 56
⬇ 39
Published
2021-03-31
How to Cite
Szira, Z., Kinga Ilona , B., Alghamdi, H., Enkhjav, T., & Varga, E. (2021). The analysis of the relationship between CO2 level and economic growth. Technology Transfer: Innovative Solutions in Social Sciences and Humanities, 24-28. https://doi.org/10.21303/2613-5647.2021.001729
Section
Economics, econometrics and finance