A Study on Dynamic Relationship between Economic Growth, CO2 Emissions, Foreign Direct Investment, Trade Openness, and Global Value Chain Participation

서지정보

· 발행기관 : 한국해양비즈니스학회
· 수록지 정보 : 해양비즈니스 / 59호 / 1 ~ 24페이지
· 저자명 : 계영걸, 윤준모

초록

International trade promotes economic growth but can cause environmental destruction. In addition, the emergence of global value chains has complicated the relationship between international trade, carbon dioxide emissions, and economic growth. This paper uses panel data from 57 countries from 2007 to 2020 to analyze the dynamic relationship among economic growth, carbon dioxide emissions, foreign direct investment, trade openness, and global value chain participation using a panel vector autoregression model as follows. First, carbon dioxide emissions have a negative effect on economic growth, while economic growth has a positive effect on carbon dioxide emissions. Second, trade openness has a positive effect on carbon dioxide emissions and global value chain participation, and global value chain participation has a positive effect on trade openness, while carbon dioxide emissions have a negative effect on trade openness. Third, carbon dioxide emissions have a negative effect on foreign direct investment and global value chain participation. The research results suggest that each country should actively attract foreign capital by increasing the level of foreign investment and utilization, actively establish energy conservation policies by introducing advanced technologies, and supplement environmental regulations to achieve economic development in the direction of achieving harmony between environmental protection and economic growth.

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