Impact of Oil Price, Economic Growth and Urbanization on CO2 Emissions in GCC Countries: Asymmetry Analysis

Oil prices and rapidly increasing urbanization could have a long-lasting impact on the environment in oil-abundant Gulf Cooperation Council (GCC) countries. Therefore, environmental role of oil price, economic growth, CO2 emissions should be tested. The present study investigates those countries, considering asymmetrical relationships. For this purpose, nonlinear autoregressive distributive lag cointegration approach is applied GCC countries during 1980–2019 period, corroborated all investigated models. Long-run results show that rising growth positively affects Kuwait, Oman, Qatar, Saudi Arabia. Decreasing Bahrain, United Arab Emirates (UAE). Moreover, price has positive shows scale effect it negative corroborates technique composition effects Kuwait UAE. Further, decreasing Bahrain Lastly, Economic found also observed except