ANALYSIS OF GROWTH AND CONVERGENCE OF CO2 EMISSIONS IN BRICS NATIONS

Ramesh CHANDRA DAS

Department of Economics, Katwa College, West Bengal, India-713130, Phone No. +919474783455

ramesh051073@gmail.com

Abstract

The developmental gap among the countries or regions sometimes depends on the narrowing of the gap between carbon emissions as the latter leads to more industrial growth. The present study endeavors to test whether the BRICS nations are converging in terms of per capita CO2 emission over time for the period 1992-2014. We have applied the Barro and Sala-i-Martin’s (2004) unconditional and conditional β convergence definitions, and σ convergence definition on the data of the World Bank for the said period. The results show that there were no signs of cross country convergence in terms of β convergence definition (or the catching up process) but the countries were converging in line with the σ convergence definition for three different time durations indicating pre entry to and post entry of the BRICS Group. Attempting to a set of conditional variables like fuel consumption, energy intensity, per capita growth rate, FDI flow, trade openness, population, import share to GDP, etc. we did not find any such variable explaining whether there were any sort of conditional convergence. The cross country convergence in income in the group can also be attributable to this CO2 convergence.

Keywords: Per capita CO2 emission, β convergence, σ convergence, BRICS

JEL classification:

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INVESTIGATING THE IMPACT OF FINANCIAL INNOVATION ON THE VOLATILITY OF THE DEMAND FOR MONEY IN THE UNITED STATED IN THE CONTEXT OF AN ARCH/GARCH MODEL

Payam MOHAMMAD ALIHA

Ph.D candidate, Universiti Kebangsaan Malaysia (UKM), Malaysia

payammaliha@gmail.com

Tamat SARMIDI

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

tamat@ukm.edu.my

Fathin FAIZAH SAID

Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

fatin@ukm.edu.my

Abstract

This paper investigates the effect of financial innovation on real money demand in the United States using GARCH estimation technique between 1990 and 2016. Ratios of broad money stock to GDP and growth in net domestic credit to GDP were included in a conventional money demand function to account for the financial innovation. The results indicate that neither external shocks (financial innovation) nor internal shocks (previous years’ information) influence the volatility of the money demand.

Keywords: money demand, ARCH/GARCH, financial innovation, internal/external shock

JEL classification: C13, C40, C51, E40, E44
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EVALUATION OF ECONOMIC STRUCTURE DEVELOPMENT OF KUPANG CITY, NTT PROVINCE, INDONESIA TO MEET NATIONAL GHG EMISSION TARGET

Adrianus AMHEKA

Associate Professor, State Polytechnic of Kupang, Indonesia, Correspondence details: Dr. Adrianus Amheka, State Polytechnic of Kupang, Jl. Adisucipto PO.BOX 139 Penfui Kupang, NTT, Indonesia

adrianus.amheka@gmail.com

Abstract

Indonesian government through RAN/RAD-GRK program set target to reduce GHG emission between 26%~41% by 2020 based on 2005 emissions under BAU. Study begins by simple identify and evaluate current socio-economic structure condition to achieve Indonesia’s GHG emission reduction target. We assume optimal GHG reduction rate (n) between 0%~20% then investigate its impacts to related sectors. As result, found 0.015Gt is estimated amount of GHG emission in Kupang before optimized (or about 0. 47% of total GHG emission in Indonesia) and 0.012Gt after optimized. The optimal n is around 15%~17% with Kupang GRP (1,656.86~1,371.51) Trillion IDR. The result indicated that Kupang economic cannot attain n more than 17%~20% without any conflict among stakeholders and current gross regional product (GRP) is not optimal to control GHG emission but has a space for making a higher GRP by keeping the same amount of GRP as before optimized. Relation between n and GRP called the trade-off and it is allowed can be raised up by introducing renewable energy technology for future research. In Indonesia, this study becomes the first study dealt with GHG emission reduction in the city level focused on economic activities.

Keywords: Kupang economic, GHG emission, reduction rate

JEL classification: O21, O25, O44, R50, R58

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