"The Environmental Kuznets Curve: An Empirical Investigation of Six Continental European Countries"

In this thesis, the relationship of energy consumption, economic growth and carbon dioxide emission is investigated with the reference to the Environmental Kuznets Curve. The objective of this thesis is to test the EKC hypothesis in six European countries (Germany, France, Italy, Greece, Portugal and Luxembourg) in the period 1994-2023. The model adopted is based on multiple linear regressions with quadratic specifications of GDP per capita and includes electricity consumption per capita as a control variable. Validation tests, Newey–West corrections and ARMA models were also applied to address autocorrelation and heteroscedasticity problems in residues. The results show high heterogeneity: the inverted U-curve emerges clearly in Germany, Portugal and Luxembourg, while in Greece an opposite trend is observed and in France and Italy no statistically significant evidence is found. The study underlines that dynamic growth–emissions is not an automatic process, but depends on environmental policies, energy mix and institutional quality. The conclusions offer implications for the sustainable management of businesses, highlighting how carbon pricing and technological innovation tools can anticipate the turning point and encourage decoupling between economic development and environmental impact.