Mendeley_Data_Deposit_Package.zip

Much of the extant literature examines economic growth and carbon emissions in isolation from housing market dynamics, largely because of the persistent scarcity of harmonized property-price data across the region. This study addresses this gap by modelling the dynamic interactions among economic growth, carbon emissions, and the housing market, the last proxied by a rental index derived from Consumer Price Index inflation, across a panel of 47 SSA economies over 1980–2023 (1,527 usable country-year observations). A three-equation Panel Vector Autoregression of order one is estimated using the Blundell–Bond System GMM estimator and cross-validated against an exactly identified Anderson–Hsiao instrumental variable specification. The System GMM estimates show strong growth persistence, a significant effect of lagged growth on carbon emissions, and mean reversion in the housing proxy, with no significant feedback from emissions or housing to growth. Supplementary diagnostics, however, indicate that ln(GDP) and ln(CO₂) are non-stationary in levels, that the system's dominant eigenvalue exceeds one, and that the housing proxy is negatively correlated with an independent house-price series for the one country where such data exist, qualifying the housing equation results specifically.