Publication detail

The FDI-CO2 nexus from the sustainable development perspective: the case of Azerbaijan

Author(s): MSc. Shahriyar Aliyev , Mukhtarov, S., Aliyev, S., Mikayilov, J.I., Ismayilov, A. and Rzayev, A.
Type: Articles in journals with impact factor
Year: 2020
Number: 0
ISSN / ISBN: 1745-2627
Published in: International Journal of Sustainable Development and World Ecology
Publishing place: Taylor&Francis Online
Keywords: CO2 emissions; FDI; STSM; Kalman filter; economic growth; Azerbaijan
JEL codes:
Suggested Citation: https://doi.org/10.1080/13504509.2020.1804479
Abstract: The current study explores the effect of Foreign Direct Investment (FDI) on CO2 emissions in
Azerbaijan utilizing time series data spanning from 1996 to 2013. The structural time series
modeling (STSM) approach is employed in empirical estimations. The STSM framework allows
parameters to evolve over time. Estimation results show that the coefficients of FDI and income
are time-varying. The impact of FDI is positive before 2006 and negative after that year, while
the income elasticity is positive for the entire period. The estimated income elasticity allows to
conclude that the EKC phenomenon does not hold for the case of Azerbaijan. The different
effects of FDI on CO2 emissions, possible explanations and related policy implications are
discussed.

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