Research on the Granger Causality Experiment of Fukushima Nuclear Wastewater Discharge on Changes in Oil Market Prices
DOI:
https://doi.org/10.54097/gce43d50Keywords:
Nuclear wastewater; Granger causality experiment; environmental impactAbstract
Because of the development of economic globalization and the increasing attention of governments around the world to environmental protection, the connection between the economy and the environment is becoming increasingly closer. Environmental and economic concepts such as the circular economy (CE) and sustainable development strategies have gradually become important theoretical support for government economic development. Therefore, environmental pollution has a more significant impact on the economy. The Japanese government declared on August 24, 2023, that effluent from the Fukushima nuclear power plant would be released into the Pacific Ocean. This decision not only has an impact on marine ecology and the marine environment but also has a certain impact on the world economy. The price changes of oil, a crucial industrial fuel and commodity, can also be used as a proxy for the effects of nuclear-contaminated water outflow on the global economy. To investigate the effects of nuclear polluted wastewater on the global economy, this article will examine variations in the price of crude oil after the nuclear waste from the Fukushima nuclear power plant in Japan was released into the environment.
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