Trade Openness - CO2 Emissions Nexus: a Wavelet Evidence from EU
2020
Mutascu, Mihai | Sokic, Alexandre
The paper explores the interaction between trade openness and CO₂ emissions in the European Union (EU) by using the wavelet tool. The sample covers the period 1960–2014, capturing both pre- and post-integration EU periods. The main findings show that the CO₂ emissions drive the trade in the short and long terms but only under a strong impact of economic shocks, energy use and economic growth. A translation effect towards non-pollutant capacities supporting the exports is registered in the long term, at business cycle, highlighting a new effect, namely ‘inverted pollution haven effect’. Otherwise, the imports run the CO₂ emissions in the medium term as ‘scale effect’ but during external crisis only, rising the role of income volatility in parallel with its related level.
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