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Causal effects of PetroCaribe on sustainable development: a synthetic control analysis

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Version 2 2023-06-12, 09:04
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journal contribution
posted on 2023-06-12, 09:04 authored by Acel Jardón, Onno Kuik, Richard TolRichard Tol
We examine the causal effects of the energy subsidy programme PetroCaribe in the three dimensions of sustainable development: economic, social and environmental. We use the synthetic control method to construct a counterfactual and compare it to the outcomes of the beneficiary countries and thus estimate the magnitude and direction of the PetroCaribe effect. PetroCaribe had a positive effect on economic growth in most of the beneficiary countries; however, this economic boost was not followed by an improvement in social development. Environmentally, PetroCaribe did not negatively or positively impact the environmental quality of the member countries, in the sense that we do not find a significant effect on the trend of urn:x-wiley:14636786:media:manc12275:manc12275-math-0001 emissions per capita.

History

Publication status

  • Published

File Version

  • Published version

Journal

The Manchester School

ISSN

1463-6786

Publisher

Wiley

Department affiliated with

  • Economics Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2019-04-03

First Open Access (FOA) Date

2019-07-01

First Compliant Deposit (FCD) Date

2019-04-03

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