The Impact of Tourism and Financial Development on Energy Consumption and Carbon Dioxide Emission: Evidence from Post-communist Countries

Abstract

The purpose of this study is to investigate the causal relationship among energy consumption, carbon emission, financial development, and tourism using a sample of 12 post-communist countries in the period between 1995 and 2014. The results of Pedroni and Kao tests show the cointegration among observed variables. The Granger non-causality test demonstrates that there is bi-directional causality in financial development–tourism and energy–emission nexuses. The one-way causality is identified in cases of tourism–energy, tourism–CO2, finance–energy, and finance–CO2.

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Correspondence to Raufhon Salahodjaev.

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Isaeva, A., Salahodjaev, R., Khachaturov, A. et al. The Impact of Tourism and Financial Development on Energy Consumption and Carbon Dioxide Emission: Evidence from Post-communist Countries. J Knowl Econ (2021). https://doi.org/10.1007/s13132-021-00732-x

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Keywords

  • Tourism
  • Finance
  • Energy consumption
  • Carbon emissions