Does Uncertainty in Climate Policy Affect Economic growth? Empirical Evidence from the U.S.

Creative Commons License

Çelik B., Doğan B.

Ekonomika, cilt.103, sa.1, ss.44-55, 2024 (Scopus) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 103 Sayı: 1
  • Basım Tarihi: 2024
  • Doi Numarası: 10.15388/ekon.2024.103.1.3
  • Dergi Adı: Ekonomika
  • Derginin Tarandığı İndeksler: Scopus, International Bibliography of Social Sciences, ABI/INFORM, Business Source Elite, Business Source Premier, Central & Eastern European Academic Source (CEEAS), EconLit, Directory of Open Access Journals
  • Sayfa Sayıları: ss.44-55
  • Anahtar Kelimeler: ARDL bounds test, Climate policy uncertainty, Economic growth, Financial development, Labor force
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

This study aims to empirically investigate the short- and long-term effects of climate policy uncertainty on economic growth in the U.S. for the years 1990-2020. In the study, total workforce, foreign direct investments, and financial development variables were also selected as control variables, and the effects of these variables on economic growth were examined. The study used the ARDL bounds test approach to investigate the cointegration between the variables. The findings confirm the existence of a positive and statistically significant relationship between climate policy uncertainty and economic growth in the sample period in the U.S. In addition, the effects of total labor force, foreign direct investments, and financial development on economic growth were found to be positive and statistically significant in the study.