The Impact of Economıc Growth on Low-Carbon Product Trade: The Case of The Unıted States
DOI:
https://doi.org/10.63556/ankad.v10i1.321Keywords:
economic growth, renewable energy consumption, ARDL, low carbon trade, USAAbstract
Countries' economic growth targets are increasing demand for unsustainable energy, leading to a rapid increase in greenhouse gases as a result of the use of various resources, primarily fossil fuels. Increasing greenhouse gases are causing rapid climate change and unsustainable economic growth. In this context, the “low-carbon economy” is emerging as a key element in addressing the issue of global warming, as it is seen as a critical factor in establishing new energy networks and introducing new alternative energy channels. The study examines the short- and long-term causal interactions between renewable energy consumption, CO2 emissions, industrial employment, and economic growth in the context of low-carbon product trade. Empirical evidence is based on panel data for annual periods between 1991 and 2021 for the selected US state. The study reveals that renewable energy consumption increases industrial employment and low-carbon product trade, while confirming that economic growth reduces low-carbon product trade. Through effective policy implications, it is possible to achieve the Sustainable Development Goals by prioritizing modern and environmentally friendly energy sources while also ensuring economic growth.
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