Research Article
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Foreign Direct Investment, Carbon Emission And Economic Growth in Turkey: A Data Driven Analysis

Year 2020, Volume: 6 Issue: 1, 35 - 59, 25.03.2019
https://doi.org/10.20979/ueyd.617746

Abstract

Beyond the important role
of foreign direct investments in the development of countries, the impact of
foreign direct investment on energy consumption and its environmental
consequences are also of interest in the literature.
In this study, we empirically examine the causal
patterns among foreign direct investment, CO2 emissions, economic
growth, and some other economic factors in Turkey for the period 1974 – 2014
using Directed Acyclic Graphs (DAGs). In doing so, we attempt to shed light on
both the direct and indirect causation between these factors and reveal the
environmental consequences of foreign direct investment. The resulting DAG
patterns suggest that
foreign direct investment has an indirect effect
on CO2 emissions through an intermediate variable, trade, whereas
both carbon emissions and energy consumption follows economic growth. The DAGs
pattern also signifies that pollution is a significant determinant of energy
consumption and domestic investment which seems to be the direct cause of
energy consumption. 

References

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Türkiye’de Doğrudan Yabancı Yatırımlar, Karbon Emisyonu ve İktisadi Büyüme: Veriye Dayalı Bir Analiz

Year 2020, Volume: 6 Issue: 1, 35 - 59, 25.03.2019
https://doi.org/10.20979/ueyd.617746

Abstract

Doğrudan yabancı
yatırımların ülkelerin kalkınmalarında oynadığı önemli rolün ötesinde,
literatürde üzerinde sıkça durulan bir diğer konu ise, doğrudan yabancı
yatırımların enerji tüketimi üzerindeki etkisi ve çevresel sonuçlarıdır. Bu çalışmada, 1974 – 2014 dönemi için Türkiye’de doğrudan yabancı
yatırımlar, karbon emisyonu, enerji tüketimi, ekonomik büyüme ve bazı diğer
ekonomik değişkenler arasındaki tümevarımlı nedensel çıkarım şablonları,
Yönlendirilmiş Döngüsüz Graflar (DAGs) metodu kullanılarak incelenmiştir.
Böylece
bu değişkenler
arasındaki dolaylı ve dolaysız nedenselliklerin ortaya çıkarılması ve doğrudan
yabancı yatırımların çevresel sonuçlarının ortaya çıkarılması amaç
edinilmiştir. Elde
edilen DAGs şablonları, doğrudan yabancı yatırımların dolaylı olarak ticaret
üzerinden karbon emisyonlarını tetiklediğini, karbon emisyonları ve enerji
tüketiminin ise ekonomik büyümeyi takip ettiğini ortaya koymaktadır. DAG
şablonları ayrıca, kirliliğin, enerji tüketimi ve çalışmada enerji tüketiminin
doğrudan nedeni olduğu tespit edilen iç yatırımların önemli bir belirleyicisi
olduğunu göstermektedir.

References

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  • Acar, Y., Gürdal, T. ve Ekeryılmaz, Ş. (2018). Environmental Kuznets Curve for CO2 Emissions: An Analysis for Developing, Middle East, OECD and OPEC Countries. Environmental & Socio-economic Studies, 6(4), 48-58.
  • Akarca, A. T. ve Long, T. V. (1980). On The Relationship Between Energy and GNP: A Reexamination. Journal of Energy Development, 5, 326-331.
  • Akın, C. S. (2014). The Impact of Foreign Trade, Energy Consumption And Income on CO2 Emissions. International Journal of Energy Economics and Policy, 4(3), 465-475.
  • Akinlo, A. E. (2008). Energy Consumption and Economic Growth: Evidence from 11 Sub-Sahara African Countries. Energy Economics, 30, 2391-2400.
  • Akpan, G. E. ve Akpan, U. F. (2012). Electricity Consumption, Carbon Emissions and Economic Growth in Nigeria. International Journal of Energy Economics and Policy, 2(4), 293-308.
  • Ang, J. (2007). CO2 Emissions, Energy Consumption, and Output in France. Energy Policy, 35, 4772 - 4778.
  • Apergis, N. ve Payne, J. E. (2009). Energy Consumption and Economic Growth in Central America: Evidence from a Panel Co-integration and Error Correction Model. Energy Economics, 31, 211-216.
  • Arora, V. ve Shi, S. (2016). Energy Consumption and Economic Growth in the United States. Applied Economics, 48(39), 3763-3773.
  • Arouri, M. E., Youssef, A., M’henni, H. ve Rault, C. (2012). Energy Consumption, Economic Growth and CO2 Emissions in Middle East and North African Countries. Energy Policy, 45, 342-349.
  • Aslanidis, N. ve Iranzo, S. (2009). Environment and Development: Is There a Kuznets Curve for CO2 Emissions? Applied Economics, 41(6), 803-810.
  • Aye, G. C. ve Edoja, P. E. (2017). Effect of Economic Growth on CO2 Emission in Developing Countries: Evidence from a Dynamic Panel Threshold Model. Cogent Economics and Finance, 5(1), 1-22.
  • Bartleet, M. ve Gounder, R. (2010). Energy Consumption and Economic Growth in New Zealand: Results of Trivariate and Multivariate Models. Energy Policy, 38(7), 3508-3517.
  • Belke, A., Dobnik, F. ve Dreger, C. (2011). Energy Consumption and Economic Growth: New Insights into the Co-integration Relationship. Energy Economics, 33(5), 782-789.
  • Belloumi, M. (2009). Energy Consumption and GDP in Tunisia: Cointegration and Causality Analysis. Energy Policy, 37(7), 2745-2753.
  • Benli, M. (2019). Yabancı Portföy Yatırımı – İktisadi Büyüme İlişkisi: Yönlendirilmiş Döngüsüz Graflar Analizi. Erciyes Üniversitesi İ.İ.B.F. Dergisi, Sayı: 53, 59-72.
  • Birdsall, N. ve Wheeler, D. (1993). Trade Policy and Industrial Pollution in Latin America: Where are the Pollution Havens? Journal of Environment and Development, 2, 137-149.
  • Bloch, H., Rafiq, S. ve Salim, R. A. (2012). Coal Consumption, CO2 Emission and Economic Growth in China: Empirical Evidence and Policy Responses. Energy Economics, 34, 518-528.
  • Bölük, G. ve Mert, M. (2014). Fossil & Renewable Energy Consumption, GHGS (Greenhouse Gases) and Economic Growth: Evidence from a Panel of EU (European Union) Countries. Energy, 74, 439-446.
  • Bölük, G. ve Mert, M. (2015). The Renewable Energy, Growth and Environmental Kuznets Curve in Turkey: An ARDL Approach. Renewable and Sustainable Energy Reviews, 52, 587-595.
  • Bouttabba, M. A. (2014). The Impact of Financial Development, Income, Energy and Trade on Carbon Emissions: Evidence from the Indian Economy. Economic Modelling, 40, 33-41.
  • Chandran, V. G. R. ve Tang, C. F. (2013). The Impacts of Transport Energy Consumption, Foreign Direct Investment and Income on CO2 Emissions in ASEAN-5 Economies. Renewable and Sustainable Energy Reviews, 24, 445-453.
  • Cole, M. A. (2005). Re-Examining the Pollution–Income Relationship: A Random Coefficients Approach. Economics Bulletin, 14, 1-7.
  • Demiralp, S. ve Hoover, K. D. (2003). Searching for the Causal Structure of a Vector Autoregression. Oxford Bulletin of Economics and Statistics, 65(1), 745-767.
  • Erol, U. ve Yu, E. S. H. (1987). On the Causal Relationship between Energy and Income for Industrialized Countries. Journal of Energy and Development, 13, 113-122.
  • Eskeland, G. S. ve Harrison, A. E. (2003). Moving to Greener Pasture? Multinationals and The Pollution Haven Hypothesis. Journal of Development Economics, 70(1), 1-23.
  • Farhani, S. ve Rejeb, J. B. (2012). Energy Consumption, Economic Growth and CO2 Emissions: Evidence from Panel Data for MENA Region. International Journal of Energy Economics and Policy, 2(2), 71-81.
  • Galeotti, M., Lanza, A. ve Pauli, F. (2006). Reassessing the Environmental Kuznets Curve for CO2 Emissions: A Robustness Exercise. Ecological Economics, 57, 152-163.
  • Ghali, K. H. ve El-Sakka, M. I. T. (2004). Energy and Output Growth in Canada: A Multivariate Co-integration Analysis. Energy Economics, 26, 225-238.
  • Grimes, P. ve Kentor, J. (2003). Exporting the Greenhouse: Foreign Capital Penetration and CO2 Emissions 1980-1996. Journal of World-Systems Research, 9, 261-276.
  • Grossman, G. M. ve Krueger, A. B. (1995). Economic Growth and the Environment. The Quarterly Journal of Economics, 110(2), 353-77.
  • Halıcıoğlu, F. (2009). An Econometric Study Of CO2 Emissions, Energy Consumption, Income and Foreign Trade in Turkey. Energy Policy, 37, 1156-1164.
  • Haughton, D., Kamis, A. ve Scholten, P. (2006). A Review of Three Directed Acyclic Graphs Software Packages: MIM, Tetrad, and WinMine, The American Statistician, 60(3), 272-286.
  • Herrerias, M. J., Joyeux, R. ve Girardin, E. (2013). Short-and Long-Run Causality between Energy Consumption and Economic Growth: Evidence Across Regions in China. Applied Energy, 112, 1483-1492.
  • Hoffman, R., Lee, C. G., Ramasamy, B. ve Yeung, M. (2005). FDI and Pollution: A Granger Causality Test Using Panel Data. Journal of International Development, 17(3), 311-317.
  • Holtz-Eakin, D. ve Selden T. (1995). Stoking the Fires? CO2 Emissions and Economic Growth? Journal of Public Economics, 57, 85-101.
  • Hondroyiannis, G., Lolos, S. ve Papapetrou, E. (2002). Energy Consumption and Economic Growth: Assessing the Evidence From Greece. Energy Economics, 24, 319-336.
  • Huang, B. N., Hwang, M. J. ve Yang, C. W. (2008). Causal Relationship between Energy Consumption and GDP Growth Revisited: A Dynamic Panel Data Approach. Ecological Economics, 67, 41-54.
  • Iwata, H., Okada, K. ve Samreth, S. (2010). Empirical Study on the Environmental Kuznets Curve for CO2 in France: The Role of Nuclear Energy. Energy Policy, 38(8), 4057-4063.
  • Jayanthakumaran, K., Verma R. ve Liu, Y. (2012). CO2 Emissions, Energy Consumption, Trade and Income: A Comparative Analysis of China And India. Energy Policy, 42, 450-460.
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There are 95 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Articles
Authors

Muhammed Benli 0000-0001-6486-8739

Publication Date March 25, 2019
Submission Date September 10, 2019
Published in Issue Year 2020 Volume: 6 Issue: 1

Cite

APA Benli, M. (2019). Türkiye’de Doğrudan Yabancı Yatırımlar, Karbon Emisyonu ve İktisadi Büyüme: Veriye Dayalı Bir Analiz. Uluslararası Ekonomi Ve Yenilik Dergisi, 6(1), 35-59. https://doi.org/10.20979/ueyd.617746

International Journal of Economics and Innovation

Karadeniz Technical University, Department of Economics, 61080, Trabzon/Türkiye
28816