Charting the BRIC countries' connection of political stability, economic growth, demographics, renewables and CO2 emissions

In: Economic change & restructuring, Volume 57, Issue 5

Open Access

Abstract

AbstractThis research examines the impact of economic policy uncertainty, GDP, population and renewable energy consumption on CO2 emissions in BRIC countries from 1991 to 2023. The objective is to understand the long-term relationships among these variables and provide relevant insights. Using fully modified ordinary least squares and dynamic ordinary least squares econometric methods, the findings reveal that GDP and population growth significantly increase CO2 emissions, while renewable energy consumption reduces them. The panel autoregressive distributed lag results highlight the need for policies promoting renewable energy and managing population growth to mitigate environmental impacts. Notably, economic policy uncertainty also contributes to higher emissions, underscoring the importance of stable economic policies.