Empirical investigation of relationships between energy consumption, industrial production, CO2 emissions, and economic growth: the case of small island states.

This study explores the long-run equilibrium relationship between CO2 emissions, economic growth, and industrial production. In parallel, the energy-led growth hypothesis has been investigated for a selected group of 23 small island states globally chosen from different continents. Data used in the analysis covers the period 1977-2017 on an annual basis and is retrieved from the World Bank open data and national statistical authorities.