Relationship among Economic Growth (GDP), Energy Consumption and Carbon Dioxide Emission: Evidence from V4 Countries

Abstract

The main objective of the research was to determine the long-term and short-term correlation between CO2 emissions per capita, energy consumption per capita, and the level of economic growth of GDP per capita in the V4 countries. These countries, being EU members since 2004 and previously being in the sphere of influence of the Soviet Union, have introduced a number of economic reforms, but in the area of climate protection, including decarbonization, they struggle with many problems, as their economies are largely dependent on energy from non-renewable resources. The results of the research are varied, but the authors confirmed, especially in the case of Poland, the long-term correlations between the studied variables. In the short term, such interdependencies also occurred, especially between the level of energy consumption per capita and the level of CO2 emissions.

Keywords

• economic growth
• energy consumption
• CO₂
• emissions
• V4 countries
• cointegration