Study of the Kuznets environmental curve hypothesis from a global perspective 1960-2019: a semi-parametric panel data...

This work uses parametric and semiparametric panel data analysis methodologies to test the hypothesis of the environmental Kuznets curve, in 186 countries in the period 1960-2019. The main results reveal the acceptance of this hypothesis in the relationships of CO2 emissions (kt) and economic growth (GDP) and urbanization (% population) in the parametric models. Using semiparametric methods, the polynomial relations of fourth degree between CO2 emissions and GDP and of third degree between it and urbanization are verified. The economic policy implications derived from these results seem to indicate the need to continue making efforts in the reduction of CO2 emissions, through greater efforts in innovation and research and development, in search of clean and less polluting energies. The relationship between CO2 and economic growth is a major challenge, in terms of achieving a flattening of this relationship.