THE IMPACT OF CARBON DIOXIDE & NITROUS OXIDE ON ECONOMIC GROWTH IN PAKISTAN, CO-INTEGRATION ANALYSIS
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Abstract
The study explore the impact between economic growth and environment degradation and in Pakistan. CO2 and N2O have been used as the proxy of environmental degradation. The time series data has been taken over the period from 1972-2017. Johansen Co-integration estimation technique has used for estimation and the results from pairwise granger causality test shows GDP , CO2, and N2O do not have granger causality between them respectively. The generalized impulse response function (GIRFs) also applied to examine the dynamic effects of variables. The findings reveal from multi-variate co – integration analysis long run relationship exists among all variable in the study. The results of Generalized Impulse Reflection Function derived the dynamic effects with GDP and CO2 and N2O are positive and negative in responses time period.