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The Greenhouse Gas Emission in the EU: A VAR Analysis of the Relevant Variables

This paper considers the relevance of a nexus of variables relevant to achieving the Sustainable Development Goals (SDGs) of the United Nations, as well as accomplishing the goals of the Paris Agreement. It empirically considers the 28 European Union (EU) member states, dividing them into three panels based upon the time of their accession to full EU membership. The empirical analysis consists of unit root tests, a Vector Autoregressive (VAR) framework, Granger causality test, and diagnostic tests. Based upon the empirical results, there are significant differences between the post- transitional and original EU member states. This difference is most notable in the fact that only in the panel of countries that have acceded to the EU after 2004 there is a statistically significant link between energy consumption and the greenhouse gas emission. We therefore conclude that while not all EU member states exhibit signs of environmental imbalances, there still are significant differences between the EU 15 and the states that have acceded to full membership after 2004.

Granger causality ; VAR analysis ; Sustainable Development Goals (SDGs) ; greenhouse gas emission ; the European Union (the EU) ; economic growth

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