The Volatility Assessment of CO2 Emissions in Uzbekistan: ARCH/GARCH Models

Authors

  • Bekhzod Kuziboev Department of Economics, Urgench State University, Urgench, Uzbekistan; & Department of Trade, Tourism and Languages, Faculty of Economics, University of South Bohemia, Czech Republic,
  • Petra Vysušilová Department of Trade, Tourism and Languages, Faculty of Economics, University of South Bohemia, Czech Republic,
  • Raufhon Salahodjaev Central Asian University, Tashkent 111221, Uzbekistan.
  • Alibek Rajabov Department of Economics, Urgench State University, Urgench, Uzbekistan,
  • Tukhtabek Rakhimov Department of Economics, Urgench State University, Urgench, Uzbekistan,

DOI:

https://doi.org/10.32479/ijeep.14487

Keywords:

CO2 Emissions, Volatility, ARCH, GARCH, Uzbekistan

Abstract

The study is pioneer to investigate the volatility of CO2 emissions in Uzbekistan. To this end, ARCH (Autoregressive Conditional Heteroskedasticity) and GARCH (Generalized Autoregressive Conditional Heteroskedasticity) models are used spanning the period 1925-2021 for the annual data of CO2 emissions. The results indicate that ARCH model is more adequate that GARCH model in the volatility assessment. Furthermore, it is found that the volatility of CO2 emissions in Uzbekistan is very high. The policymakers have to consider the high volatility of CO2 emissions in the environmental policy measures dedicated to reduce carbon dioxide emissions.

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Published

2023-09-16

How to Cite

Kuziboev, B., Vysušilová, P., Salahodjaev, R., Rajabov, A., & Rakhimov, T. (2023). The Volatility Assessment of CO2 Emissions in Uzbekistan: ARCH/GARCH Models. International Journal of Energy Economics and Policy, 13(5), 1–7. https://doi.org/10.32479/ijeep.14487

Issue

Vol. 13 No. 5 (2023)

Section

Articles

License

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