(2015) ‘Transportation intensity, urbanization, economic growth, and CO2 emissions in the G-20 countries’, Utilities Policy. (2017) ‘Impact of Stock Market Liquidity and Efficiency on Performance of the Manufacturing Sector in Nigeria ( 1985-2014 ).’, International Journal of Economics and Financial Management, 2(1), pp. (2016) ‘Environmental Kuznets curves: New evidence on both panel and country-level CO2 emissions’, Energy Economics. (2016) ‘Carbon intensity of electricity in ASEAN: Drivers, performance and outlook’, Energy Policy. (2012) ‘Does ecological economics have a future? Contradiction and reinvention in the age of climate change’, Ecological Economics.

(2015) ‘On economics and climatic change’, Ecological Economics.

This empirical finding suggests that economic activity has an influence on the growth of carbon dioxide emissions.Ībrahamson, D. The estimation results from these studies show that the GDP variable has the greatest contribution to the dynamics of carbon dioxide emissions in each ASEAN 4 countries. The data used time series with a vulnerable time of the year 1981-2013. In this study, Vector Auto regression Exogenous (VARX) method is used to analyze the impact of economic activities on the movement of carbon dioxide emissions. The used of macroeconomic variables (GDP, trade openness, energy consumption, and the exchange rate) is shown to explain the carbon dioxide emission. This study analyzed the relationship of macroeconomic variables and the carbon dioxide emission in each of the four ASEAN countries (Indonesia, Malaysia, the Philippines, and Thailand). The carbon dioxide emission is a form of environmental degradation caused by economic activities. Climate change is a phenomenon of environmental damage due to the increased intensity of carbon dioxide emissions in the atmosphere, which causes the surface temperature of the earth.

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