Rethinking the Environmental Kuznets Curve: Quantity Growth vs. Quality Growth
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Tarih
2023
Yazarlar
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Yayıncı
Taylor and Francis
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Existing literature on the Environmental Kuznets Curve (EKC) hypothesis uses conventional growth rate as a proxy for economic growth to investigate the validity of the EKC hypothesis. Given, however, that economic development requires a more inclusive concept than economic growth, recent studies address the importance of high-quality growth in the process of economic development. Therefore, this study uses a quality growth index to revisit the EKC hypothesis in the United States over the period 1991-2018. Estimation results reveal the validity of the EKC hypothesis, regardless of the growth proxy. However, inflection points indicate that environmental degradation reacts to the quality growth index even before economic growth. Overall, the findings reveal the significance of the social dimension alongside growth fundamentals in reducing carbon emissions and contributing to environmental quality. These results have potentially significant implications for environmental policies. One of the major implications is that the quality growth index has the potential to be a valuable addition, providing additional perspectives on social well-being by addressing environmental costs more effectively, and that energy conservation policies imposed in order to mitigate greenhouse gas emissions may fall short of intended targets if the projections rely only on income growth. © 2024 selection and editorial matter, Ayhan Kuloğlu and Mert Topcu.
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