Munich Personal RePEc Archive
Carbon dioxide emissions and
governance: A nonparametric analysis for the G-20
Halkos, George and Tzeremes, Nickolaos
University of Thessaly, Department of Economics
1 August 2012
Online at https://mpra.ub.uni-muenchen.de/40387/
MPRA Paper No. 40387, posted 31 Jul 2012 14:18 UTC
! " ! #$
! " "
#$%&' " ( ) * ( " " ++,-
&. . / ( # / -&.' "
" " 0 ") 1 ( " "
# " 2 ! 3 1 ! " 2!
4 ( 5 4 6 / " $
$ ' ! " " 7 " 8 " 7 "
* 9) " ( ! /
$%& " " ( ) 8 "" " /
9 ( " !
( ( ! " " /
!: ( " " " ") ;
! " " -( ( "
( ( < " / / !
" " )
% & $ = > = 5?)
' ( $ ! " " = = -&. =
@ )
&
) * +
2 " ( "
" ( / ) 2 ( ) #&.. '
" / 9 / ( /
! " / ) " 6 # ++A'
! / ( / / * # ++.' (
" " / "
") $ ( #&. ' ( ( (
" ( / )
> / * 9 ) #&. ' 0 $ ( #&. ' ! (
( " ( / /
" ( / ) 6 3 ) # +++' ( ( /
" ! ! ! " )
3 0 / 9 " 6 ( # ++ ' ( / ) 1
0 ( ( ( / / ( "
) ) : 9 ) #&.. ' ( 9
( " ( / !
( ! ) 6 3 )
#&.. ' / / ( " )
" " " : " /
/ " )
1 #4 ++.= B ++ = 4 0 ++ = 9 )
&. = 6 * &. &' ( ( " " ( "
" ( "
< ) 2 " ( 3 # ++A'
< " ( / " " (
( " ) " #&.. ' 0
(
" ( / - < )
" ( # ++?' " (
< ( " " !
( " " < " C (
( ( " )
; 2 / ) # ++?' " ) # ++ ' ( 0
" ! " " ! -
( ( / " ) 8
< ( " ( ) # +++' "
! / " " ( !
( " " "
! )
( / " " ! ( ( #
< ' ! " ) ; > "
D # +++' / ( 9 " # ++?' " " 3
4 9 1 ( " " ( (
( ) ! " ! 2 ( ) #&.. ' "
) #&.. ') B > " D # +++' " " 1
" 7 # ++?' " )
4 " 9 ) #&..&' " 0 ) #&.. ' ! " "
( " ! ) #&.. ' / "
#&.. ' " / < " !
) #&..&') 9 " # ++?' ( /
! ) " " !
* # ++ ' " " ! " " /
" ! " " " ) ;
* 8 #*8' " / " " " ! B
# ++?')
! " " #$%&' "
< / : ( ! / ( "
( #> ++,= 0 &..A' "
7 " 8 " ! " " ! 7 " * 9 "
-&. # / ' ! " "
" ( )
( +
# < ' " !
" ! " ) > ( ! 0 " !
(( ( " " " )
8 ! " ! " :
" <
( ) ! "
" " " / < )
2 " ( # +++' ( "
( "
< < ( "
$ 4 ( # " ' ! ! " E
EFF///) " ) (F)
?
! " ) * " > ( #&.. ' ( -
&
( " )
% " ( ! " " "
" ) % " " " (
) $ ( # ++&' / -
! " ( ) ; "
* # ++ ' " * " "" #&...' " ( "
! ) 6 " 4 #&..,'
" - " " " ) /
" < )
* " * " ! #&..+' ! "
( " " ! /
" ! ( ( ( ! " "
) $ ( " ( "
" " ( ( ! < )
@ #&..&' " -
- " ( ( "
" ! " )
% " B " 9 # ++ ' (
" " " ( "
! " "
&
- < " " ! 0 # +??'
/ " " C - " ! / ( / " < ) /
" / 9 9 / 0 $ # $'
) 1 " " $ ! (
" # 9 ++A= 1 ++ &..& &.. = 2 ( " 3 ( &...= $ ) &...=
2 " " 6 &.. = 2 / ) &.. = * " 1 &.. = ( ) &..&=
> 9 &.. ')
,
") $ ( " $ #&..?' ( "
" " )
2 " < " )
2 " ( 3 ( " ( #&..,' ! " " "
" /
( ( )
7 #&.. ' ( - (
( " / )
! " ( " "
< ) $ #&..A' " ( ! " (
7 "
( ( )
; " 9 " 1 #&.. ' (
" ! !
( ( - ) ! "
! " "
( )
2"" ) #&.. ' " (
! / " ! " (
" ( " ) #&..+' 0 -
( " !
( < " " ! "
( ) * " > ( #&.. ' $ " (
/ ( / " 9 ! "
A
( ) " (
)
4 / " " ! " (
" ) 9 #&. ' - "
( " / ! ( / /
" " " ( " ) $ #&..A' " $ ! / "
" " ( ! "
! / ( " )
1 ! "
( / ( / ) * " 6 9 #&..+'
/ ( # " - '
/ 9 - < /
" $ )
, - .
8 " ! " " -( /
" " ++,-&. . ( / # -&.'
) " " ( # ) )
" " " ( " ( ( ' / ( " +.G
( ! 3 .G ( ! " " / - " / " ) 8
"" / -9 / ! " ( :
/ "/ " ! " " " " ( ( ( " (
( ! )
-&. ( " + ! # " ' " # "
E EFF///)(&.) (')
8 / ( -&.
! " " #$ ' " #8 (
2( - 8 2 &. ') 8 "" / ( ( #7 "
8 " -7 8' " " ! 7 " * 9
( < # ) &..,') < "
( " / " ( ( !
-&)? &)?) > ( " ( ( < ) "
" ( ! " " ( # ) &. .')
B E
# 2 ' /
H 0 ! ( ( /
" " " " )
#3 1 !'
9 " ( / ! " ! 0 " / !
" ( " " )
# ' < !
< " " ( " "
< " "
" ! ( H )
#4 (5 ' ! (
" " " ( "
" )
" 9 7 " * 9 E
EFF )/ "! 9) (F( F/( F ) )
+
! " #4 6 /' / (
" " ! " ! " <
( " /
9 " " )
# # #$ $ ' / !
/ " ( " ( ! " ( "
/ I I ! " )
! " ! " )
2 ! ! " " " " " (
" " ) 8 "" / /
( ( ! / # ! ' " " 1 (
&. .) ( ( ! ! ! ! " "
/ ( -&. " H ( ( #$
&. .'?)
2 ! " ! > " D -$ J0 #&..+'
< ! 0 ( 7 8 / 9 "
" ( " ( 9 ( "
( / 9) 8 "" ( ( / 0 ( 7 8
( " " "
"F ( < ( ( "
" " " " ! /
( " #1 &..+')
? 7 / !-( ( K - L "
( / -&. " / " / ( " (
( ! ( - ! " " )
.
# )E ! " ++,-&. .
( ! " " -
( ! " E
[ ]
(
2 3 1 ! 4 (5 4 6 / $ $)
$ $
4 6 / 4 (5
3 1 ! 2
$
= # ')
< # ' " " " "
! ! "
( )
) " ! ! / 9 /" " ! )
$ %
6 ! $ ! " " ! " " ! "
" " ! # 2 3 1 ! 4 (5 4 6 / "
$ $ ' ! " & / '- ) 7
" ! " / : "
( )
( / ( " &" "
( )
( =∫ ( )
( " / " " ( & " "( )
( =( ) ( )
( F ( ) ( / ( (/ 9 E
/
B . &A&)A,,+. .) ., .).A, & .)A AA? .), AA .)?&, .)? ,,&
1 " &A+&&)A &,. .) ? , .) , .) A? .)A,.. .)+&,& ). .A
B &. )... - )A. & -&) &? , -.)A,. . -.)+& - ).A & - ) +,,
B &.+&& +) ,,,A ),A& ? ) +,, &). . & &). ?. ) &?A. &)& A ,
!
) * #+
# , - )
+ . ( ) /
0 1 2 3 04 + 4
( )
( =(
& = ()
#&'); / ( 6 " 4 #&..A &) )?+' (
! / E
( ) ( )
( )
((
( =
∫
# '/ ! ( " !
) : " ! " -
E
( ) ∑ ( ( ) )
=
∧ −
−
−
= 4 5 & ( 2 +
+
( 5 # ')
7 + ! "/ " ( "
/ 5 =
(
+ ))) +')
)8 "" 4
( )
) " 9 " 2( )
) 9/ ( " E
( ) ( ) ( ) ( )
∫
2 = 2 =2 −∫
&2 =κ& >. #?')8 < #?' 2
( )
= − −∞< <∞&
&
&
π " 9 #
" 6 " 4 &..A ) - ') B
( " & ! " " E
( ) ( ) ( ( ) )
( )
( )
( ( 4 5 & ( 2
5 + +
4 5 & (
5
∧ ∧
−
=
−
=
−
= = − =
= −
∫ ∑ ∫
∑
#,'
"
&
( ) ( ( ) )
( )
(
5 & ()
5 4
2 + (
&
5 + 4
( 5
∑
∑ ∫
∫
=
−
=
∧ −
−
=
−
−
=
#A')
; @ " # +, ' 7 # +, '
! ! " E
( ) ( ( ) )
( )
( )
∑
∑
=
−
=
−
∧
−
−
=
(
&
5 4
(
&
5 4
( # ')
2 ! "/ " # ) ) (
') ; / / # ' <
- " " " ! 6 " 4 #&..A ) ,+' (
+'
+ ))) 0 !: E
( ) ∑ ( ) ( )
= −
− ∧
−
' = & . &
+ +
#
&
))) #+'
/ −
( ) ∑
≠( ( ) ) ∑
≠( ( ) )
∧ & = 4 & −& F+ F 4 & −& F+ / M
- 9
( )
& " .≤.( )
) ≤ / ( # "6 " 4 #&..A' ) - ')
0 +
; / ( > " D -$ J0 #&..+' / " "
! / ( " ! " " )
; ( " " , ! / ! " "
" 7 8 ! ) B ! (
" " $ / 2 ! ( ! / 3 1 !
,; ! "/ " / " - < " #> ) &.. ')
! ( / ! ( " / 4 (5 ! ( / 4 6 / "
! ( / $ $ ) 2 ! ! " ( " /
( " 2 !
" $ $ )
8 "" " ! - " (
( " 3 1 ! " 2!
4 ( 5 " $ $ ) 2
" ! > " D -$ J0 #&..A' " " " /
" ( ( ( !
" " " ( )
B ( & "
++, # ! ( & ' &... # ! ( &!' &..? # ! ( & ' " &. .
# ! ( &"') 8 " " " 0 (
! " " 9 ! "
++,A) ! ( & " 2 !
! " " ) 1 ( "
3 1 ! "" " " "" (
4 (5 ) ; " / ! ( & "
4 6 / #! ' " $ $ #! ( ')
A " ( ( # ! " " '
" " " ( #> " D -$ J0
&..+ ) & ') 8 "" ( # ( " " -
' " " ! 4 # ++A' 4 ) #&..,' 6 " 4 #&..A' " 4 #&.. '
! " " 9 ( ( ! (
! " " " # ) ) ++, &... &..? " &. .')
! " ( - " " ! "/ " " ++ !
( ! " ( # G ?G " .G')
( ! < )
1 + )E $ " " ! " " " (
!
"
( ! " "
! -&. (
) 8 "" ! " "
( +.G ! " ) ! ! "
" " " ! )
8 2 ( " "
?
( # ' ! "
! " " ") 2 ( 2
/ / ! " " / ! )
8 "" / 9 ( 3 1 ! " 2!
#3 1 !' / 0 $
&..? # ! ( & ' / ( ( ) B "
" (
# ' -&. $ ) 2 ( ++, "
&... " ")
> / &..? # ! ( & ' " &. . # ! ( &"'
" " " /
! ) B " " 4 (
5 #4 (5 ') 3 ++, &... " &..?
" " ! ( 0 " &. . # ! ( &"') 7
( 4 6 / #4 6 /' $
" ++, &..? " &. . " (
" " &...)
; $ $ #$ $ ' ! (
&... &..? " &. .) * ++, ! /
$ $ " $ ! " C ) 2 ! ! "
" " !: -&. ( ( )
" C( " " # ++,-
&. .' / ( & ? ! )
,
1 + E ( ! " " ++, #& '
&... #&!' &..? #& ' " &. . #&"')
& &!
& &"
; ( 0 -&. ( &)
> / 9 "
" " ! ! " )
; +.G ! " ! " ++
" ) 8 "" ( ! & ! " 3
( / ( ! ( ( ( " !
4 # ++A' 4 ) #&..,' 6 " 4 #&..A' " 4 #&.. ') ! &
1 "
! " " > " D -$ J0 #&..+')
A
" ! "/ " / ( # ' <
- " " " ! 6 " 4 #&..A ) ,+')
( ! (
# ! " C2 ' " ( -&. ! " "
" ++,-&. .) 8
2 ( ! " "
" ! ) ! /
! " ! " " ! ( ! (
3 1 ! #-.)?' " ! " (
/ )
; ( ( # ! ( & '
C # )?' " " " !
( ( ) 8 ( < # ! ( &"'
/ 4 (5 #- ). .).' " C
( ( " 4 (5
( ) 8 "" 4 (5
! ( ) 1 ! ( & $ -4 6 /
) ; ( 4 6 / # .)?' " (
" ( ( / ! " "
)
1 + ,E ! ( -&. ! " " ++,-
&. .
!
"
> / ! (
4 6 / # )?' " " ( ( ) 1 "
# ! ( & ') (
$ $ #.) ' / !
" ( ( $ ) *
/ $ $ )A ! ( (
+
" ( / "
! " " ) / /
! " " -( ( "
( ( < " / / !
" " )
* " ! & ! " 3
( + / " " ( # ! ')
/ / ! ! " ( ! (
( " ( ! ( )
" ( ! " ( ) ;
/ 9 ( ( (
#2 $ " 1 " 2 ! " " 1 '
" / " ! "
$ )
B & #8 " 4 1 2 " 9 '
! ! ) 8 &
( ! / ( $
" " #2 ( * 0 " B ') 1
#; 8 " " (" ' (
( < " !
! " " ) ; ?
#$ 8 " D " 1 ' ( < " /
! " " ) ; / ( !
" " " ! ( (
+2 ! & ! " ! "/ " ( # ' < -
" " )
&.
! " " / !: ( F
" )
# E 4 ( ! ( -&. !
" "
2 + !
! ( " 0
! " " -( ) 7
0 " ! " " " " ( (
-&. " ++,-&. .)
! " ( " / - <
" ! "/ " ) B ! "
! " ! " " (
( ( $%& )
3 , " + 3 , " + 3 , " +
.)..&? NNN .) ,? .), ? .). &., .)? ? .). ,&
.). &, NN .) ?, .). &? NN .) , + .)...NNN .)& ?
.)..?. NNN .) A .).?? N .). , .) , ,A .) . AA
.).&A?ANN .).&A?A .). .. NN .)&++A .)A ,+A .).+&
! " .)...NNN .).??.A .) A ,+ .). . .) &+?A .) .,.
# # .).&?.,NN .).A&A? .). &, NN .) ,+ & .) . ? .) ,
3 , " + 3 , " + 3 , " +
.).&?.,NN .).??+. .) & ?A .).&&+ .)+ ,?& .).&
.). &, NN .)&, .)?, +& .)., ? .)&A &. .) A?,+
.).?A, N .).A .).&A?ANN .)& ? .)&A & .)., AA
.).AA,+N .).+ ,. .).?A, N .).A&+A .).?. N .) +.
! " .). &? NN .) .& . .)&?., .). , + .).?&, N .) .
# # .)..A?&NNN .).+, + .).&A?ANN .) & ? .) && .)
6 789 66 :89 666 8
&
8 !
" ""
" ( ! "
" ) 8 "" " ( " 9
" " K "" L " ! / ! " " "
( )
B ! " "
M ( ) 8 "" "
( " ) 8
" ( < "
" $%& )
; ( " "
( / " ! ( (
-&. ! " " ) $%& "
" ! " " / " ( /
< ( " " )
&&
3
2 ( ) D 1) 4 ! D) &.. ) (
" E 2 ( ) 2 4 / + ,+-
. )
2 ( ) D 1) 4 ! D) O) &.. ) 8
E " ( / ) D B
?. +- & )
2 " D) 6 2) &.. ) 0
) D 3 ! .4&,+M& ,)
2 ( 2) 3 ( $) &...) ! "
) " 4 A ? M A )
2 / 7) $ " *) 1) &.. ) 8 " ( " P
2 4 / + AAM +. )
2 / ) * *) $ 0 4) ( 3) ; 9 $) > ( $)1) D
*)%) 6 1) B )B) 3 ( $) 3 ) ++?) ( /
( " ) 1 &, ?&.-?& )
* 1) "" ) &...) ; " ( / " )
" ? - ?,)
* 4) ++ ) ( / ) 5 D
., .A- )
* 7) ++.) E 3 " " " " )
D 3 ? + -+& )
* ) ! ) &..+) < )
( , ??- ,?)
&
* >) 6 9 ) &..+) ( " (
< - ) ( , &? M&?& )
* B) > ( B) &.. ) 8 " 0 $
" E 2 - 6 2 2 " 2 ) 7 "
&+ ++?- . .)
* 9 3) 2 " ;) &. ) 8 ) D 8
A ++-?. )
* )>) 1 )3) &.. ) " ( " " (
E " " # ' 0 $ ) D
,? &&?M& ?)
$ *) &. .) ; &. 3 ) $ 8
8 % $ " ! E
EFF///) ( ) (F ! F&. .F F -(&.- )
$ ) * 9 ) * 4) / " ) &...) 2
0 $ " ) 2( " 4 4 /4
&+ &M &)
$ ( >)D) &. ) 8 " " E " )
D 8 A A - + )
$ ( O) $ ) &..?) " E
0 % 2 ) 3 "
( B "/ 3 1 2 3 > >
$ ( 8 )
$ ( 4) ) ++&) 3 8 " 3 $ ) 4 /
" 1 A &- & )
&
$ 4)D) &..A) " 0 $ E 2
) ( , &+- A)
4) ; " 9 3) ) 6 D)2) &.. ) " ! 0 "
E " " ) D
" B ( , +.-? &)
( 1) 6 *) 7 ( >) 7 ) &..&) $ (
0 $ ) D 3 , AM , )
4) ) +++) 3 -
4 E 2 3 ; / 9
$ 1 * ! )
" 1) &.. ) 0 $ > E 2 ) (
+ - ??)
: 9 1) ) 6 3 4) 6 0-" -1 ;) 1 2) &.. )
/ ) D $ ?+?-, +)
) 2) &.. ) 8 " " ( / ) D B
?. - ,&)
) &..+) " - E
" ) " 1 ! A.?-A& )
7) 6 4) &.. ) ( " E > / " /
" ) D B ?. - +)
9 3) ++A) 0 " ( / E (
" ) " 3 ( 2 &+4 .?M .)
0 4) &..A) 8 - ( ! " " P
( 3 ? , - A&)
&?
; " 9 3) ) 1 D) &.. ) 3 ! "
E ) D 3 ! A -
.?)
) 6 3 4) 6 0-" -1 ;) 1 2) &.. )
( / P D / + &A - . )
)B) ( 2)*) ++?) / " )
5 D . ? - AA)
> 9 ) ) &.. ) 0 E " ( BB
" " " " ) "
? -,. )
> 4) D $) +++) 7 " "
/ 9 P 5 D - ,)
> 3) 4 D)1) 6 5) &.. ) $ - " " "
! ! " ) D 2 1 2 ++ . ?M .&,)
> 6) ) ) ++ ) 2 ( " ( ! / ( # 73 ') ( 3
& & - )
> )3) D -$ J0 ) ) &..+) / " E 2
) D $ A & - )
> )3) D -$ J0 ) ) &..A) $ " " E 2
" ( ) * M,)
8 ( 2( - 8 2 &. ) $%& ; $ !
8 2 3 )
) 2) B 00 B) &.. ) 888E " "
( " ++,-.&) 7 " * 9 3 4
7 9 ( 3 @ ) ., 7 ( )$)
&,
) 2) B 00 B) &..,) 8E
" ++,M&..,) 7 " * 9 3 4 7 9 (
3 @ ) & .)
) 2) B 00 B) &. .) 7 "/ "
8 " B " ( " 2 8 ) 7 " * 9 3 4 7 9 (
3 @ ) ? .)
) 2) Q " -6 ! " 3) +++) B ) 7 " * 9
3 4 7 9 ( 3 @ ) & +,)
) 2) Q " -6 ! 3) &..&) 88E " "
" &...-. 7 " * 9 3 4 7 9 ( 3 @ )
&AA& 7 ( )$)
4) ) " " *) 1) 3 3) ++ ) "
1%& E " ( 0 )
( &? &.+-&&.)
9 $)*) &. ) 3 ( " < E 2 -
" ) $ D ?- )
9 1) 3) ++?) 8 " E $ -
( ) " 3 A &.A-&&A)
9 )B) 6 ;) / 0 B) ) &. ) ( ( !
( E $ " )
( 3 + ? .?-? ?)
6 3 4) 6 0-" -1 ;) 3 - $) 1 2) &.. ) D "
9 " ! ) D 3 & ?- A.)
6 3 4) 6 0-" -1 ;) 1 2) 4) +++) <
( ) D 6 / " % ( 0 ? &&&&-&&A+)
&A
6 * B) &. &) $ ( - ! E 2 ( !
" ( 9 ( ) ( 3
. +.- . )
6 5) 4 D)1) &..A) @ E "
3 3 % ")
6 5) 4 4) &..,) " ( " ) 8
1 " 5 ?. + ?-+?,)
B @) ++ ) " " (
) ( 3 &, &, -&A )
B 3) ++?) $ " ( / ) 5 D . , -
A &)
B " 9 B)8) ++ ) " E 2 )
D 3 4 ? - , )
@ " )2) +, ) % ( 4 ( ) 3 ! ! "
2 + M &)
@ ) &..&) " ! (
P 2 - ) D 3 4 + +- , )
3 ) ++A) ( 0 $ E (
! 9 ! ) " & ,?-
3 ( 6) ( 4) &..,) $ " " E 2
! " ! ) D " ?
&- ? )
3 0 / 9 2) 6 ( ;) ++ ) 3 ( " ( / ) D
3 A ? -,+)
&
4 D)1) ++A) $ ( ( ( )
D * " 1 ? ,+M A+)
4 D)1) &.. ) @ E 2 3 ) ; " " "
- )
4 D)1) > D) ) 6 5) &..,) ( ( ( "
! ( " ) 4 / &? ?& M? )
4 0 >) ++ ) D " < C "" -
( " ! : : ) (
3 &, &A?-&A+)
4 " 9 ) 1 ! 2) !! ;) &..&) 8 E
( ( " ( " ) 8B; 7 9 (
3 @ ) + .?)
4 2) ++.) 4 " ( ( ! / ( E <
( ) ( 3 +&A-+ ?)
1 D) 7 2) ++?) " ( ! ( )
* 9 ( 3 2 -+?)
1 1) &..+) 2 - / " " ! )
D & &- +?)
1 )8) ++ ) 3 ( 0 $ P "
4 4 A?M + )
1 )8) &..&) ( ( ( ! E
" ) ( 9 & &. M&&.)
1 )8) &.. ) " 0 $ ) 7 "
&4 +M +)
&+
B) * D) ) ++ ) 8 < " E
0 ) ( &? A- ,.)
7 )1) +, ) 1 ( ) 1 9 &, ?+M A&)
7 >) &.. ) $ ( / " E - )
" + ,, M,+ )