On the Dynamic Linkages between CO2 Emissions, Energy Consumption and Growth in Greece

C. Katrakilidis, I. Kyritsis, V. Patsika
European Research Studies Journal, Volume XVII, Issue 3, 79-90, 2014
EOI: 10.11214/thalassinos.17.03.005


This paper attempts to analyze the short-and long-run causal dynamic interactions between energy consumption, CO2 emissions and economic growth in Greece, using time-series techniques. To this end, annual data covering the period 1980-2012 are employed and tests for unit roots, the ARDL-bounds approach of cointegration, and Granger-causality based on error-correction models are applied. The results reveal strong feedback in the long-run between all the examined variables. For the shortrun, there is evidence of two-way causality in all examined pairs with only exception the direction CO2 towards GDP.

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