Research Article
BibTex RIS Cite

EKONOMİK BÜYÜME VE BEŞERÎ SERMAYENİN EKOLOJİK AYAK İZİ ÜZERİNDEKİ ETKİSİ: TÜKİYE ÖRNEĞİ

Year 2024, Volume: 25 Issue: 3, 218 - 244, 29.09.2024
https://doi.org/10.53443/anadoluibfd.1407369

Abstract

Gelişmekte olan ülkeler ekonomik refaha doğru ilerlerken, bu süreç onların ekolojik ayak izini de arttırabilmektedir. Bu nedenle, sürdürülebilir bir kalkınma için ekolojik ayak izini (EF) etkileyen faktörlerin belirlenmesi önemlidir. Bu perspektiften bakıldığında bu çalışma, Türkiye’nin 1980'den 2019’a kadarki dönemde ekonomik büyümesinin, finansal kalkınmasının ve insan sermayesinin, EF üzerindeki etkisini Genişletilmiş ARDL (Augmented ARDL) yöntemiyle araştırmaktır. Analiz sonuçlarına göre Türkiye’nin 1980'den 2019'a kadar olan dönemde finansal gelişme, ekonomik büyümenin ekolojik ayak izini artırdığı, insan sermayesinin ise ekolojik ayak izini azalttığı gözlemlenmiştir. Nedensellik sonuçlarına göre ekolojik ayak izi – ekonomik büyüme ve ekolojik ayak izi – finansal gelişme arasında çift yönlü, ekonomik büyümeden finansal gelişmeye, beşerî sermayeden finansal gelişmeye ve beşerî sermayeden ekolojik ayak izine doğru tek yönlü nedensellik ilişkisi tespit edilmiştir. Ulaşılan ekonometrik analiz sonuçlarına göre politika yapıcılara öneriler sunulmuştur.

References

  • Ackah, I., & Kizys, R. (2015). Green growth in oil producing African countries: A panel data analysis of renewable energy demand. Renewable and Sustainable Energy Reviews, 50, 1157-1166.
  • Adams, S., & Klobodu, E. K. M. (2018). Financial development and environmental degradation: does political regime matter?. Journal of Cleaner Production, 197, 1472-1479.
  • Adil, A. A. (2018). Could human development be the key to environmental sustainability?. Leonardo, 51(2), 197-198.
  • Ahmad, M., Zhao, Z. Y., & Li, H. (2019). Revealing stylized empirical interactions among construction sector, urbanization, energy consumption, economic growth and CO2 emissions in China. Science of the Total Environment, 657, 1085-1098.
  • Ahmed, K., & Long, W. (2012). Environmental Kuznets curve and Pakistan: an empirical analysis. Procedia Economics and Finance, 1, 4-13.
  • Ahmed, Z., & Le, H. P. (2021). Linking Information Communication Technology, trade globalization index, and CO 2 emissions: evidence from advanced panel techniques. Environmental Science and Pollution Research, 28, 8770-8781.
  • Ahmed, Z., Asghar, M. M., Malik, M. N., & Nawaz, K. (2020a). Moving towards a sustainable environment: the dynamic linkage between natural resources, human capital, urbanization, economic growth, and ecological footprint in China. Resources Policy, 67, 1-11.
  • Ahmed, Z., Wang, Z., Mahmood, F., Hafeez, M., & Ali, N. (2019). Does globalization increase the ecological footprint? Empirical evidence from Malaysia. Environmental Science and Pollution Research, 26, 18565-18582.
  • Ahmed, Z., Zafar, M. W., & Ali, S. (2020b). Linking urbanization, human capital, and the ecological footprint in G7 countries: an empirical analysis. Sustainable Cities and Society, 55, 1-11.
  • Ahmed, Z., Zhang, B., & Cary, M. (2021). Linking economic globalization, economic growth, financial development, and ecological footprint: Evidence from symmetric and asymmetric ARDL. Ecological Indicators, 121, 1-12. doi: 10.1016/j.ecolind.2020.107060.
  • Akca, H. (2021). Environmental Kuznets Curve and financial development in Turkey: evidence from augmented ARDL approach. Environmental Science and Pollution Research, 28(48), 69149-69159.
  • Al-Mulali, U., & Ozturk, I. (2015a). The effect of energy consumption, urbanization, trade openness, industrial output, and the political stability on the environmental degradation in the MENA (Middle East and North African) region. Energy, 84, 382-389.
  • Al-Mulali, U., Weng-Wai, C., Sheau-Ting, L., & Mohammed, A. H. (2015b). Investigating the environmental Kuznets curve (EKC) hypothesis by utilizing the ecological footprint as an indicator of environmental degradation. Ecological indicators, 48, 315-323.
  • Alola, A. A., Bekun, F. V., & Sarkodie, S. A. (2019). Dynamic impact of trade policy, economic growth, fertility rate, renewable and non-renewable energy consumption on ecological footprint in Europe. Science of the Total Environment, 685, 702-709.
  • Apergis, N., & Payne, J. E. (2010). The emissions, energy consumption, and growth nexus: evidence from the commonwealth of independent states. Energy policy, 38(1), 650-655.
  • Asongu, S. A. (2018). CO 2 emission thresholds for inclusive human development in sub-Saharan Africa. Environmental Science and Pollution Research, 25, 26005-26019.
  • Baloch, M. A., Zhang, J., Iqbal, K., & Iqbal, Z. (2019). The effect of financial development on ecological footprint in BRI countries: evidence from panel data estimation. Environmental Science and Pollution Research, 26, 6199-6208.
  • Baz, K., Xu, D., Ali, H., Ali, I., Khan, I., Khan, M. M., & Cheng, J. (2020). Asymmetric impact of energy consumption and economic growth on ecological footprint: Using asymmetric and nonlinear approach. Science of the Total Environment, 718, 1-10.
  • Bekhet, H. A., Matar, A., & Yasmin, T. (2017). CO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation models. Renewable and Sustainable Energy Reviews, 70, 117-132. doi: 10.1016/j.rser.2016.11.089
  • Bilgili, F., Kuşkaya, S., Khan, M., Awan, A., & Türker, O. (2021). The roles of economic growth and health expenditure on CO2 emissions in selected Asian countries: a quantile regression model approach. Environmental Science and Pollution Research, 28(33), 44949-44972.
  • Borucke, M., Moore, D., Cranston, G., Gracey, K., Iha, K., Larson, J., ... & Galli, A. (2013). Accounting for demand and supply of the biosphere's regenerative capacity: The National Footprint Accounts’ underlying methodology and framework. Ecological indicators, 24, 518-533.
  • Charfeddine, L. (2017). The impact of energy consumption and economic development on ecological footprint and CO2 emissions: evidence from a Markov switching equilibrium correction model. Energy Economics, 65, 355-374.
  • Charfeddine, L., & Khediri, K. B. (2016). Financial development and environmental quality in UAE: Cointegration with structural breaks. Renewable and Sustainable Energy Reviews, 55, 1322-1335. doi: 10.1016/j.rser.2015.07.059
  • Chen, S., Saud, S., Saleem, N., & Bari, M. W. (2019). Nexus between financial development, energy consumption, income level, and ecological footprint in CEE countries: do human capital and biocapacity matter?. Environmental Science and Pollution Research, 26, 31856-31872.
  • Consoli, D., Marin, G., Marzucchi, A., & Vona, F. (2016). Do green jobs differ from non-green jobs in terms of skills and human capital?. Research Policy, 45(5), 1046-1060.
  • Croes, R., Ridderstaat, J., Bąk, M., & Zientara, P. (2021). Tourism specialization, economic growth, human development and transition economies: The case of Poland. Tourism Management, 82, 1-12.
  • Danish, H, S. T., Baloch, M. A., Mahmood, N., & Zhang, J. (2019). Linking economic growth and ecological footprint through human capital and biocapacity. Sustainable Cities and Society, 47, 1-10.
  • Danish, Wang B, Wang Z (2018) Imported technology and CO2 emission in China: collecting evidence through bound testing andVECM approach. Renewable Sustainable Energy Reviews, 82, 4204–4214. doi: 10.1016/j.rser.2017.11.002
  • Desha, C., Robinson, D., & Sproul, A. (2015). Working in partnership to develop engineering capability in energy efficiency. Journal of Cleaner Production, 106, 283-291.
  • Destek, M. A., & Sarkodie, S. A. (2019). Investigation of environmental Kuznets curve for ecological footprint: the role of energy and financial development. Science of the Total Environment, 650, 2483-2489.
  • Destek, M. A., & Sinha, A. (2020). Renewable, non-renewable energy consumption, economic growth, trade openness and ecological footprint: Evidence from organisation for economic Co-operation and development countries. Journal of Cleaner Production, 242, 1-11.
  • Dietz, T., Rosa, E. A., & York, R. (2007). Driving the human ecological footprint. Frontiers in Ecology and the Environment, 5(1), 13-18.
  • Du, L., Wei, C., & Cai, S. (2012). Economic development and carbon dioxide emissions in China: Provincial panel data analysis. China Economic Review, 23(2), 371-384.
  • Figge, L., Oebels, K., & Offermans, A. (2017). The effects of globalization on ecological footprints: an empirical analysis. Environment, Development and Sustainability, 19, 863–876.
  • Furuoka, F. (2015). Financial development and energy consumption: Evidence from a heterogeneous panel of Asian countries. Renewable and Sustainable Energy Reviews, 52, 430-444.
  • Ganda, F. (2019). The environmental impacts of financial development in OECD countries: A panel GMM approach. Environmental Science and Pollution Research, 26(7), 6758-6772.
  • Global Footprint Network. (2023). National Footprint Accounts. https://data.footprintnetwork.org/#/countryTrends?cn=223&type=BCtot,EFCtot adresinden erişildi.
  • Godil, D. I., Sharif, A., Rafique, S., & Jermsittiparsert, K. (2020). The asymmetric effect of tourism, financial development, and globalization on ecological footprint in Turkey. Environmental Science and Pollution Research, 27, 40109-40120.
  • Godil, D. I., Yu, Z., Sharif, A., Usman, R., & Khan, S. A. R. (2021). Investigate the role of technology innovation and renewable energy in reducing transport sector CO2 emission in China: a path toward sustainable development. Sustainable Development, 29(4), 694-707.
  • Gök, A. (2020). The role of financial development on carbon emissions: a meta regression analysis. Environmental Science and Pollution Research, 27(11), 11618-11636.
  • Ha, N. M., Ngoc, B. H., & Mcaleer, M. (2020). Financial integration, energy consumption and economic growth in Vietnam. Annals of Financial Economics, 15(3), 2050010.
  • Hassan, S. T., Xia, E., Khan, N. H., & Shah, S. M. A. (2019). Economic growth, natural resources, and ecological footprints: evidence from Pakistan. Environmental Science and Pollution Research, 26, 2929-2938.
  • Hsueh, S. J., Hu, Y. H., & Tu, C. H. (2013). Economic growth and financial development in Asian countries: A bootstrap panel Granger causality analysis. Economic Modelling, 32, 294-301. doi: 10.3846/ 20294913.2014.989932
  • Jalil, A., & Feridun, M. (2011). The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy economics, 33(2), 284-291.
  • Kamal, M., Usman, M., Jahanger, A., & Balsalobre-Lorente, D. (2021). Revisiting the role of fiscal policy, financial development, and foreign direct investment in reducing environmental pollution during globalization mode: evidence from linear and nonlinear panel data approaches. Energies, 14(21), 6968.
  • Kanjilal, K., & Ghosh, S. (2013). Environmental Kuznet’s curve for India: Evidence from tests for cointegration with unknown structuralbreaks. Energy Policy, 56, 509-515.
  • Karaaslan, A., & Çamkaya, S. (2022). The relationship between CO2 emissions, economic growth, health expenditure, and renewable and non-renewable energy consumption: Empirical evidence from Turkey. Renewable Energy, 190, 457-466.
  • Karasoy, A. (2019). Drivers of carbon emissions in Turkey: considering asymmetric impacts. Environmental Science and Pollution Research, 26(9), 9219-9231.
  • Katircioğlu, S. T., & Taşpinar, N. (2017). Testing the moderating role of financial development in an environmental Kuznets curve: empirical evidence from Turkey. Renewable and Sustainable Energy Reviews, 68, 572-586.
  • Khan, A., Chenggang, Y., Hussain, J., & Bano, S. (2019a). Does energy consumption, financial development, and investment contribute to ecological footprints in BRI regions?. Environmental Science and Pollution Research, 26(36), 36952-36966.
  • Kihombo, S., Vaseer, A. I., Ahmed, Z., Chen, S., Kirikkaleli, D., & Adebayo, T. S. (2022). Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis. Environmental Science and Pollution Research, 29, 3983-3993.
  • Kocoglu, M., Awan, A., Tunc, A., & Aslan, A. (2021). The nonlinear links between urbanization and CO2: evidence from unconditional quantile and threshold regression.
  • Kraay, A. (2018). Methodology for a World Bank human capital index (World Bank Policy Research Working Paper No. 8593). https://thedocs.worldbank.org/en/doc/841571538503209726-0140022018/render/HCIMethodologyPaper14Sept2018.pdf adresinden erişildi.
  • Lee, J., & Strazicich, M. C. (2013). Minimum LM unit root test with one structural break. Economics Bulletin, 33(4), 2483-2492.
  • Liu, J., & Steiner-Khamsi, G. (2020). Human Capital Index and the hidden penalty for non-participation in ILSAs. International Journal of Educational Development, 73, 1-9.
  • Liu, J., Qu, J., & Zhao, K. (2019). Is China's development conforms to the Environmental Kuznets Curve hypothesis and the pollution haven hypothesis?. Journal of Cleaner Production, 234, 787-796. doi: 10.1016/j. jclepro.2019.06.234
  • Liu, Y., Sadiq, F., Ali, W., & Kumail, T. (2022). Does tourism development, energy consumption, trade openness and economic growth matters for ecological footprint: Testing the Environmental Kuznets Curve and pollution haven hypothesis for Pakistan. Energy, 245, 1-11.
  • Majeed, M. T. (2018). Information and communication technology (ICT) and environmental sustainability in developed and developing countries. Pakistan Journal of Commerce and Social Sciences, 12(3), 758-783.
  • Majeed, M. T., & Mazhar, M. (2019). Environmental degradation and output volatility: A global perspective. Pakistan Journal of Commerce and Social Sciences, 13(1), 180-208.
  • Majeed, M. T., & Mumtaz, S. (2017). Happiness and environmental degradation: A global analysis. Pakistan Journal of Commerce and Social Sciences, 11(3), 753-772.
  • Maji, I. K., Habibullah, M. S., & Saari, M. Y. (2017). Financial development and sectoral CO 2 emissions in Malaysia. Environmental Science and Pollution Research, 24, 7160-7176. doi: 10.1007/s11356-016-8326-1
  • McNown, R., Sam, C. Y., & Goh, S. K. (2018). Bootstrapping the autoregressive distributed lag test for cointegration. Applied Economics, 50(13), 1509-1521.
  • Mikayilov, J. I., Galeotti, M., & Hasanov, F. J. (2018). The impact of economic growth on CO2 emissions in Azerbaijan. Journal of Cleaner Production, 197, 1558-1572.
  • Moutinho, V., Madaleno, M., & Robaina, M. (2017). The economic and environmental efficiency assessment in EU cross-country: Evidence from DEA and quantile regression approach. Ecological Indicators, 78, 85-97. doi: 10.1016/j.ecolind. 2017.01.003
  • Mrabet, Z., & Alsamara, M. (2017). Testing the Kuznets Curve hypothesis for Qatar: A comparison between carbon dioxide and ecological footprint. Renewable and Sustainable Energy Reviews, 70, 1366-1375.
  • Murshed, M., Rahman, M. A., Alam, M. S., Ahmad, P., & Dagar, V. (2021). The nexus between environmental regulations, economic growth, and environmental sustainability: linking environmental patents to ecological footprint reduction in South Asia. Environmental Science and Pollution Research, 28(36), 49967-49988.
  • Naqvi, S. A. A., Shah, S. A. R., & Mehdi, M. A. (2020). Revealing empirical association among ecological footprints, renewable energy consumption, real income, and financial development: A global perspective. Environmental Science and Pollution Research, 27, 42830-42849.
  • Narayan, P. K. (2005). The saving and investment nexus for China: evidence from cointegration tests. Applied Economics, 37(17), 1979-1990.
  • Narayan, P. K., & Popp, S. (2010). A new unit root test with two structural breaks in level and slope at unknown time. Journal of Applied Statistics, 37(9), 1425–1438.
  • Nathaniel, S., & Khan, S. A. R. (2020). The nexus between urbanization, renewable energy, trade, and ecological footprint in ASEAN countries. Journal of Cleaner Production, 272, 1-9.
  • Nathaniel, S., Anyanwu, O., & Shah, M. (2020). Renewable energy, urbanization, and ecological footprint in the Middle East and North Africa region. Environmental Science and Pollution Research, 27, 14601-14613.
  • Ngoc, B. H., & Awan, A. (2022). Does financial development reinforce ecological footprint in Singapore? Evidence from ARDL and Bayesian analysis. Environmental Science and Pollution Research, 29(16), 24219–24233.
  • Omoke, P. C., Nwani, C., Effiong, E. L., Evbuomwan, O. O., & Emenekwe, C. C. (2020). The impact of financial development on carbon, non-carbon, and total ecological footprint in Nigeria: New evidence from asymmetric dynamic analysis. Environmental science and pollution research, 27(17), 21628-21646.
  • Ozatac, N., Gokmenoglu, K. K., & Taspinar, N. (2017). Testing the EKC hypothesis by considering trade openness, urbanization, and financial development: the case of Turkey. Environmental Science and Pollution Research, 24, 16690-16701.
  • Ozturk, I., Al-Mulali, U., & Saboori, B. (2016). Investigating the environmental Kuznets curve hypothesis: the role of tourism and ecological footprint. Environmental Science and Pollution Research, 23, 1916-1928.
  • Panayotou, T. (1995). Environmental degradation at different stages of economic development. I. Ahmed ve J. A. Doeleman (editörler), Beyond Rio: The environmental crisis and sustainable livelihoods in the third world içinde (s. 13-36). New York: St. Martin’s Press.
  • Pata, U. K., & Caglar, A. E. (2021). Investigating the EKC hypothesis with renewable energy consumption, human capital, globalization and trade openness for China: evidence from augmented ARDL approach with a structural break. Energy, 216, 1-16.
  • Pata, U. K., & Yilanci, V. (2020). Financial development, globalization and ecological footprint in G7: further evidence from threshold cointegration and fractional frequency causality tests. Environmental and Ecological Statistics, 27(4), 803-825.
  • Pazienza, P. (2015). The relationship between CO2 and Foreign Direct Investment in the agriculture and fishing sector of OECD countries: Evidence and policy considerations. Intelektinė Ekonomika, 9(1), 55-66.
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326.
  • Phong, L. H. (2019). Globalization, financial development, and environmental degradation in the presence of environmental Kuznets curve: evidence from ASEAN-5 countries. International Journal of Energy Economics and Policy, 9(2), 40-50
  • Raggad, B. (2020). Economic development, energy consumption, financial development, and carbon dioxide emissions in Saudi Arabia: new evidence from a nonlinear and asymmetric analysis. Environmental Science and Pollution Research, 27, 21872-21891.
  • Reynolds, T. W., Farley, J., & Huber, C. (2010). Investing in human and natural capital: An alternative paradigm for sustainable development in Awassa, Ethiopia. Ecological Economics, 69(11), 2140-2150.
  • Rjoub, H., Odugbesan, J. A., Adebayo, T. S., & Wong, W. K. (2021). Sustainability of the moderating role of financial development in the determinants of environmental degradation: evidence from Turkey. Sustainability, 13(4), 1844.
  • Rudolph, A., & Figge, L. (2017). Determinants of ecological footprints: what is the role of globalization?. Ecological Indicators, 81, 348-361.
  • Sam, C. Y., McNown, R., & Goh, S. K. (2019). An augmented autoregressive distributed lag bounds test for cointegration. Economic Modelling, 80, 130-141.
  • Sarkodie, S. A., & Strezov, V. (2019). Effect of foreign direct investments, economic development and energy consumption on greenhouse gas emissions in developing countries. Science of the Total Environment, 646, 862-871.
  • Saud, S., Chen, S., & Haseeb, A. (2020). The role of financial development and globalization in the environment: accounting ecological footprint indicators for selected one-belt-one-road initiative countries. Journal of Cleaner Production, 250, 1-15.
  • Saud, S., Chen, S., Haseeb, A., Khan, K., & Imran, M. (2019). The nexus between financial development, income level, and environment in Central and Eastern European Countries: a perspective on Belt and Road Initiative. Environmental Science and Pollution Research, 26, 16053-16075.
  • Shahbaz, M., Hye, Q. M. A., Tiwari, A. K., & Leitão, N. C. (2013). Economic growth, energy consumption, financial development, international trade and CO2 emissions in Indonesia. Renewable and sustainable energy reviews, 25, 109-121. doi: 10.1016/j.rser.2013.04.009
  • Shahbaz, M., Jam, F. A., Bibi, S., & Loganathan, N. (2016). Multivariate Granger causality between CO2 emissions, energy intensity and economic growth in Portugal: evidence from cointegration and causality analysis. Technological and Economic Development of Economy, 22(1), 47-74.
  • Shahbaz, M., Sharma, R., Sinha, A., & Jiao, Z. (2021). Analyzing nonlinear impact of economic growth drivers on CO2 emissions: Designing an SDG framework for India. Energy Policy, 148, 1-13.
  • Shujah Ur R., Chen, S., Saud, S., Saleem, N., &Bari MW (2019) Nexus between financial development, energy consumption, income level, and ecological footprint in CEE countries: Do human capital and biocapacity matter? Environmental Science and Pollution Research, 26(31), 31856–31872.
  • Solarin, S. A., Al-Mulali, U., Musah, I., & Ozturk, I. (2017). Investigating the pollution haven hypothesis in Ghana: an empirical investigation. Energy, 124, 706-719.
  • Stein, F., & Sridhar, D. (2019). Back to the future? Health and the World Bank’s human capital index. BMJ, 367, 1-3.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy Economics, 32(1), 137-145.
  • Tamazian, A., Chousa, J. P., & Vadlamannati, K. C. (2009). Does higher economic and financial development lead to environmental degradation: evidence from BRIC countries. Energy policy, 37(1), 246-253.
  • Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of econometrics, 66(1-2), 225-250.
  • Uddin, G. A., Salahuddin, M., Alam, K., & Gow, J. (2017). Ecological footprint and real income: Panel data evidence from the 27 highest emitting countries. Ecological Indicators, 77, 166-175.
  • Udemba, E. N. (2020). A sustainable study of economic growth and development amidst ecological footprint: New insight from Nigerian Perspective. Science of the Total Environment, 732, 1-10.
  • Ullah, A., Tekbaş, M., & Doğan, M. (2023). The impact of economic growth, natural resources, urbanization and biocapacity on the ecological footprint: the case of Turkey. Sustainability, 15(17), 1-15.
  • Ulucak, R., Danish, & Li, N. (2020). The nexus between economic globalization and human development in Asian countries: an empirical investigation. Environmental Science and Pollution Research, 27, 2622-2629.
  • Usman, M., & Makhdum, M. S. A. (2021). What abates ecological footprint in BRICS-T region? Exploring the influence of renewable energy, non-renewable energy, agriculture, forest area and financial development. Renewable Energy, 179, 12-28.
  • Usman, M., Jahanger, A., Makhdum, M. S. A., Balsalobre-Lorente, D., & Bashir, A. (2022). How do financial development, energy consumption, natural resources, and globalization affect Arctic countries' economic growth and environmental quality? An advanced panel data simulation. Energy, 241, 1-13.
  • Usman, M., Kousar, R., & Makhdum, M. S. A. (2020a). The role of financial development, tourism, and energy utilization in environmental deficit: evidence from 20 highest emitting economies. Environmental Science and Pollution Research, 27, 42980-42995.
  • Usman, M., Kousar, R., Yaseen, M. R., & Makhdum, M. S. A. (2020b). An empirical nexus between economic growth, energy utilization, trade policy, and ecological footprint: a continent-wise comparison in upper-middle-income countries. Environmental Science and Pollution Research, 27, 38995-39018.
  • Van den Bergh, J. C., & Verbruggen, H. (1999). Spatial sustainability, trade and indicators: an evaluation of the ‘ecological footprint’. Ecological economics, 29(1), 61-72.
  • Wackernagel, M., & Rees, W. (1998). Our ecological footprint: reducing human impact on the earth (Vol. 9). New Society Publishers.
  • Wang, Z. X., & Li, Q. (2019). Modelling the nonlinear relationship between CO2 emissions and economic growth using a PSO algorithm-based grey Verhulst model. Journal of Cleaner Production, 207, 214-224. doi: 10.1016/j.jclepro.2018.10.010
  • Wu, Y., Shen, L., Zhang, Y., Shuai, C., Yan, H., Lou, Y., & Ye, G. (2019). A new panel for analyzing the impact factors on carbon emission: A regional perspective in China. Ecological Indicators, 97, 260-268.
  • Yang, B., Jahanger, A., & Ali, M. (2021a). Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?. Environmental Science and Pollution Research, 28, 23482-23500.
  • Yang, B., Jahanger, A., Usman, M., & Khan, M. A. (2021b). The dynamic linkage between globalization, financial development, energy utilization, and environmental sustainability in GCC countries. Environmental Science and Pollution Research, 28, 16568-16588.
  • Yuxiang, K., & Chen, Z. (2011). Resource abundance and financial development: Evidence from China. Resources Policy, 36(1), 72-79.
  • Zafar, M. W., Zaidi, S. A. H., Khan, N. R., Mirza, F. M., Hou, F., & Kirmani, S. A. A. (2019). The impact of natural resources, human capital, and foreign direct investment on the ecological footprint: The case of the United States. Resources Policy, 63, 1-10.
  • Zhang, Y. J. (2011). The impact of financial development on carbon emissions: An empirical analysis in China. Energy policy, 39(4), 2197-2203.
  • Zhao, J., Zhao, Z., & Zhang, H. (2021). The impact of growth, energy and financial development on environmental pollution in China: New evidence from a spatial econometric analysis. Energy Economics, 93, 1-18.
  • Zivot, E., Andrews, D.W.K. (1992). Further evidence on the great crash, the oil price shock and the unit root hypothesis. Journal of Business and Economic Statistics, 10, 251–270.

THE IMPACT OF FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND HUMAN CAPITAL ON ECOLOGICAL FOOTPRINT: THE EXAMPLE OF TURKEY

Year 2024, Volume: 25 Issue: 3, 218 - 244, 29.09.2024
https://doi.org/10.53443/anadoluibfd.1407369

Abstract

As developing countries move towards economic prosperity, this process can also increase their ecological footprint. Therefore, it is important to determine the factors affecting the ecological footprint (EF) for sustainable development. From this perspective, this study investigates the impact of Turkey's economic growth, financial development and human capital on EF in the period from 1980 to 2019 using the Augmented ARDL method. According to the analysis results, it has been observed that Turkey's financial development and economic growth increased its ecological footprint in the period from 1980 to 2019, while human capital decreased its ecological footprint. According to the causality results, a bidirectional causality relationship was determined between ecological footprint - economic growth and ecological footprint - financial development, and a unidirectional causality relationship from economic growth to financial development, from human capital to financial development and from human capital to ecological footprint. According to the econometric analysis results, suggestions were presented to policy makers.

References

  • Ackah, I., & Kizys, R. (2015). Green growth in oil producing African countries: A panel data analysis of renewable energy demand. Renewable and Sustainable Energy Reviews, 50, 1157-1166.
  • Adams, S., & Klobodu, E. K. M. (2018). Financial development and environmental degradation: does political regime matter?. Journal of Cleaner Production, 197, 1472-1479.
  • Adil, A. A. (2018). Could human development be the key to environmental sustainability?. Leonardo, 51(2), 197-198.
  • Ahmad, M., Zhao, Z. Y., & Li, H. (2019). Revealing stylized empirical interactions among construction sector, urbanization, energy consumption, economic growth and CO2 emissions in China. Science of the Total Environment, 657, 1085-1098.
  • Ahmed, K., & Long, W. (2012). Environmental Kuznets curve and Pakistan: an empirical analysis. Procedia Economics and Finance, 1, 4-13.
  • Ahmed, Z., & Le, H. P. (2021). Linking Information Communication Technology, trade globalization index, and CO 2 emissions: evidence from advanced panel techniques. Environmental Science and Pollution Research, 28, 8770-8781.
  • Ahmed, Z., Asghar, M. M., Malik, M. N., & Nawaz, K. (2020a). Moving towards a sustainable environment: the dynamic linkage between natural resources, human capital, urbanization, economic growth, and ecological footprint in China. Resources Policy, 67, 1-11.
  • Ahmed, Z., Wang, Z., Mahmood, F., Hafeez, M., & Ali, N. (2019). Does globalization increase the ecological footprint? Empirical evidence from Malaysia. Environmental Science and Pollution Research, 26, 18565-18582.
  • Ahmed, Z., Zafar, M. W., & Ali, S. (2020b). Linking urbanization, human capital, and the ecological footprint in G7 countries: an empirical analysis. Sustainable Cities and Society, 55, 1-11.
  • Ahmed, Z., Zhang, B., & Cary, M. (2021). Linking economic globalization, economic growth, financial development, and ecological footprint: Evidence from symmetric and asymmetric ARDL. Ecological Indicators, 121, 1-12. doi: 10.1016/j.ecolind.2020.107060.
  • Akca, H. (2021). Environmental Kuznets Curve and financial development in Turkey: evidence from augmented ARDL approach. Environmental Science and Pollution Research, 28(48), 69149-69159.
  • Al-Mulali, U., & Ozturk, I. (2015a). The effect of energy consumption, urbanization, trade openness, industrial output, and the political stability on the environmental degradation in the MENA (Middle East and North African) region. Energy, 84, 382-389.
  • Al-Mulali, U., Weng-Wai, C., Sheau-Ting, L., & Mohammed, A. H. (2015b). Investigating the environmental Kuznets curve (EKC) hypothesis by utilizing the ecological footprint as an indicator of environmental degradation. Ecological indicators, 48, 315-323.
  • Alola, A. A., Bekun, F. V., & Sarkodie, S. A. (2019). Dynamic impact of trade policy, economic growth, fertility rate, renewable and non-renewable energy consumption on ecological footprint in Europe. Science of the Total Environment, 685, 702-709.
  • Apergis, N., & Payne, J. E. (2010). The emissions, energy consumption, and growth nexus: evidence from the commonwealth of independent states. Energy policy, 38(1), 650-655.
  • Asongu, S. A. (2018). CO 2 emission thresholds for inclusive human development in sub-Saharan Africa. Environmental Science and Pollution Research, 25, 26005-26019.
  • Baloch, M. A., Zhang, J., Iqbal, K., & Iqbal, Z. (2019). The effect of financial development on ecological footprint in BRI countries: evidence from panel data estimation. Environmental Science and Pollution Research, 26, 6199-6208.
  • Baz, K., Xu, D., Ali, H., Ali, I., Khan, I., Khan, M. M., & Cheng, J. (2020). Asymmetric impact of energy consumption and economic growth on ecological footprint: Using asymmetric and nonlinear approach. Science of the Total Environment, 718, 1-10.
  • Bekhet, H. A., Matar, A., & Yasmin, T. (2017). CO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation models. Renewable and Sustainable Energy Reviews, 70, 117-132. doi: 10.1016/j.rser.2016.11.089
  • Bilgili, F., Kuşkaya, S., Khan, M., Awan, A., & Türker, O. (2021). The roles of economic growth and health expenditure on CO2 emissions in selected Asian countries: a quantile regression model approach. Environmental Science and Pollution Research, 28(33), 44949-44972.
  • Borucke, M., Moore, D., Cranston, G., Gracey, K., Iha, K., Larson, J., ... & Galli, A. (2013). Accounting for demand and supply of the biosphere's regenerative capacity: The National Footprint Accounts’ underlying methodology and framework. Ecological indicators, 24, 518-533.
  • Charfeddine, L. (2017). The impact of energy consumption and economic development on ecological footprint and CO2 emissions: evidence from a Markov switching equilibrium correction model. Energy Economics, 65, 355-374.
  • Charfeddine, L., & Khediri, K. B. (2016). Financial development and environmental quality in UAE: Cointegration with structural breaks. Renewable and Sustainable Energy Reviews, 55, 1322-1335. doi: 10.1016/j.rser.2015.07.059
  • Chen, S., Saud, S., Saleem, N., & Bari, M. W. (2019). Nexus between financial development, energy consumption, income level, and ecological footprint in CEE countries: do human capital and biocapacity matter?. Environmental Science and Pollution Research, 26, 31856-31872.
  • Consoli, D., Marin, G., Marzucchi, A., & Vona, F. (2016). Do green jobs differ from non-green jobs in terms of skills and human capital?. Research Policy, 45(5), 1046-1060.
  • Croes, R., Ridderstaat, J., Bąk, M., & Zientara, P. (2021). Tourism specialization, economic growth, human development and transition economies: The case of Poland. Tourism Management, 82, 1-12.
  • Danish, H, S. T., Baloch, M. A., Mahmood, N., & Zhang, J. (2019). Linking economic growth and ecological footprint through human capital and biocapacity. Sustainable Cities and Society, 47, 1-10.
  • Danish, Wang B, Wang Z (2018) Imported technology and CO2 emission in China: collecting evidence through bound testing andVECM approach. Renewable Sustainable Energy Reviews, 82, 4204–4214. doi: 10.1016/j.rser.2017.11.002
  • Desha, C., Robinson, D., & Sproul, A. (2015). Working in partnership to develop engineering capability in energy efficiency. Journal of Cleaner Production, 106, 283-291.
  • Destek, M. A., & Sarkodie, S. A. (2019). Investigation of environmental Kuznets curve for ecological footprint: the role of energy and financial development. Science of the Total Environment, 650, 2483-2489.
  • Destek, M. A., & Sinha, A. (2020). Renewable, non-renewable energy consumption, economic growth, trade openness and ecological footprint: Evidence from organisation for economic Co-operation and development countries. Journal of Cleaner Production, 242, 1-11.
  • Dietz, T., Rosa, E. A., & York, R. (2007). Driving the human ecological footprint. Frontiers in Ecology and the Environment, 5(1), 13-18.
  • Du, L., Wei, C., & Cai, S. (2012). Economic development and carbon dioxide emissions in China: Provincial panel data analysis. China Economic Review, 23(2), 371-384.
  • Figge, L., Oebels, K., & Offermans, A. (2017). The effects of globalization on ecological footprints: an empirical analysis. Environment, Development and Sustainability, 19, 863–876.
  • Furuoka, F. (2015). Financial development and energy consumption: Evidence from a heterogeneous panel of Asian countries. Renewable and Sustainable Energy Reviews, 52, 430-444.
  • Ganda, F. (2019). The environmental impacts of financial development in OECD countries: A panel GMM approach. Environmental Science and Pollution Research, 26(7), 6758-6772.
  • Global Footprint Network. (2023). National Footprint Accounts. https://data.footprintnetwork.org/#/countryTrends?cn=223&type=BCtot,EFCtot adresinden erişildi.
  • Godil, D. I., Sharif, A., Rafique, S., & Jermsittiparsert, K. (2020). The asymmetric effect of tourism, financial development, and globalization on ecological footprint in Turkey. Environmental Science and Pollution Research, 27, 40109-40120.
  • Godil, D. I., Yu, Z., Sharif, A., Usman, R., & Khan, S. A. R. (2021). Investigate the role of technology innovation and renewable energy in reducing transport sector CO2 emission in China: a path toward sustainable development. Sustainable Development, 29(4), 694-707.
  • Gök, A. (2020). The role of financial development on carbon emissions: a meta regression analysis. Environmental Science and Pollution Research, 27(11), 11618-11636.
  • Ha, N. M., Ngoc, B. H., & Mcaleer, M. (2020). Financial integration, energy consumption and economic growth in Vietnam. Annals of Financial Economics, 15(3), 2050010.
  • Hassan, S. T., Xia, E., Khan, N. H., & Shah, S. M. A. (2019). Economic growth, natural resources, and ecological footprints: evidence from Pakistan. Environmental Science and Pollution Research, 26, 2929-2938.
  • Hsueh, S. J., Hu, Y. H., & Tu, C. H. (2013). Economic growth and financial development in Asian countries: A bootstrap panel Granger causality analysis. Economic Modelling, 32, 294-301. doi: 10.3846/ 20294913.2014.989932
  • Jalil, A., & Feridun, M. (2011). The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy economics, 33(2), 284-291.
  • Kamal, M., Usman, M., Jahanger, A., & Balsalobre-Lorente, D. (2021). Revisiting the role of fiscal policy, financial development, and foreign direct investment in reducing environmental pollution during globalization mode: evidence from linear and nonlinear panel data approaches. Energies, 14(21), 6968.
  • Kanjilal, K., & Ghosh, S. (2013). Environmental Kuznet’s curve for India: Evidence from tests for cointegration with unknown structuralbreaks. Energy Policy, 56, 509-515.
  • Karaaslan, A., & Çamkaya, S. (2022). The relationship between CO2 emissions, economic growth, health expenditure, and renewable and non-renewable energy consumption: Empirical evidence from Turkey. Renewable Energy, 190, 457-466.
  • Karasoy, A. (2019). Drivers of carbon emissions in Turkey: considering asymmetric impacts. Environmental Science and Pollution Research, 26(9), 9219-9231.
  • Katircioğlu, S. T., & Taşpinar, N. (2017). Testing the moderating role of financial development in an environmental Kuznets curve: empirical evidence from Turkey. Renewable and Sustainable Energy Reviews, 68, 572-586.
  • Khan, A., Chenggang, Y., Hussain, J., & Bano, S. (2019a). Does energy consumption, financial development, and investment contribute to ecological footprints in BRI regions?. Environmental Science and Pollution Research, 26(36), 36952-36966.
  • Kihombo, S., Vaseer, A. I., Ahmed, Z., Chen, S., Kirikkaleli, D., & Adebayo, T. S. (2022). Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis. Environmental Science and Pollution Research, 29, 3983-3993.
  • Kocoglu, M., Awan, A., Tunc, A., & Aslan, A. (2021). The nonlinear links between urbanization and CO2: evidence from unconditional quantile and threshold regression.
  • Kraay, A. (2018). Methodology for a World Bank human capital index (World Bank Policy Research Working Paper No. 8593). https://thedocs.worldbank.org/en/doc/841571538503209726-0140022018/render/HCIMethodologyPaper14Sept2018.pdf adresinden erişildi.
  • Lee, J., & Strazicich, M. C. (2013). Minimum LM unit root test with one structural break. Economics Bulletin, 33(4), 2483-2492.
  • Liu, J., & Steiner-Khamsi, G. (2020). Human Capital Index and the hidden penalty for non-participation in ILSAs. International Journal of Educational Development, 73, 1-9.
  • Liu, J., Qu, J., & Zhao, K. (2019). Is China's development conforms to the Environmental Kuznets Curve hypothesis and the pollution haven hypothesis?. Journal of Cleaner Production, 234, 787-796. doi: 10.1016/j. jclepro.2019.06.234
  • Liu, Y., Sadiq, F., Ali, W., & Kumail, T. (2022). Does tourism development, energy consumption, trade openness and economic growth matters for ecological footprint: Testing the Environmental Kuznets Curve and pollution haven hypothesis for Pakistan. Energy, 245, 1-11.
  • Majeed, M. T. (2018). Information and communication technology (ICT) and environmental sustainability in developed and developing countries. Pakistan Journal of Commerce and Social Sciences, 12(3), 758-783.
  • Majeed, M. T., & Mazhar, M. (2019). Environmental degradation and output volatility: A global perspective. Pakistan Journal of Commerce and Social Sciences, 13(1), 180-208.
  • Majeed, M. T., & Mumtaz, S. (2017). Happiness and environmental degradation: A global analysis. Pakistan Journal of Commerce and Social Sciences, 11(3), 753-772.
  • Maji, I. K., Habibullah, M. S., & Saari, M. Y. (2017). Financial development and sectoral CO 2 emissions in Malaysia. Environmental Science and Pollution Research, 24, 7160-7176. doi: 10.1007/s11356-016-8326-1
  • McNown, R., Sam, C. Y., & Goh, S. K. (2018). Bootstrapping the autoregressive distributed lag test for cointegration. Applied Economics, 50(13), 1509-1521.
  • Mikayilov, J. I., Galeotti, M., & Hasanov, F. J. (2018). The impact of economic growth on CO2 emissions in Azerbaijan. Journal of Cleaner Production, 197, 1558-1572.
  • Moutinho, V., Madaleno, M., & Robaina, M. (2017). The economic and environmental efficiency assessment in EU cross-country: Evidence from DEA and quantile regression approach. Ecological Indicators, 78, 85-97. doi: 10.1016/j.ecolind. 2017.01.003
  • Mrabet, Z., & Alsamara, M. (2017). Testing the Kuznets Curve hypothesis for Qatar: A comparison between carbon dioxide and ecological footprint. Renewable and Sustainable Energy Reviews, 70, 1366-1375.
  • Murshed, M., Rahman, M. A., Alam, M. S., Ahmad, P., & Dagar, V. (2021). The nexus between environmental regulations, economic growth, and environmental sustainability: linking environmental patents to ecological footprint reduction in South Asia. Environmental Science and Pollution Research, 28(36), 49967-49988.
  • Naqvi, S. A. A., Shah, S. A. R., & Mehdi, M. A. (2020). Revealing empirical association among ecological footprints, renewable energy consumption, real income, and financial development: A global perspective. Environmental Science and Pollution Research, 27, 42830-42849.
  • Narayan, P. K. (2005). The saving and investment nexus for China: evidence from cointegration tests. Applied Economics, 37(17), 1979-1990.
  • Narayan, P. K., & Popp, S. (2010). A new unit root test with two structural breaks in level and slope at unknown time. Journal of Applied Statistics, 37(9), 1425–1438.
  • Nathaniel, S., & Khan, S. A. R. (2020). The nexus between urbanization, renewable energy, trade, and ecological footprint in ASEAN countries. Journal of Cleaner Production, 272, 1-9.
  • Nathaniel, S., Anyanwu, O., & Shah, M. (2020). Renewable energy, urbanization, and ecological footprint in the Middle East and North Africa region. Environmental Science and Pollution Research, 27, 14601-14613.
  • Ngoc, B. H., & Awan, A. (2022). Does financial development reinforce ecological footprint in Singapore? Evidence from ARDL and Bayesian analysis. Environmental Science and Pollution Research, 29(16), 24219–24233.
  • Omoke, P. C., Nwani, C., Effiong, E. L., Evbuomwan, O. O., & Emenekwe, C. C. (2020). The impact of financial development on carbon, non-carbon, and total ecological footprint in Nigeria: New evidence from asymmetric dynamic analysis. Environmental science and pollution research, 27(17), 21628-21646.
  • Ozatac, N., Gokmenoglu, K. K., & Taspinar, N. (2017). Testing the EKC hypothesis by considering trade openness, urbanization, and financial development: the case of Turkey. Environmental Science and Pollution Research, 24, 16690-16701.
  • Ozturk, I., Al-Mulali, U., & Saboori, B. (2016). Investigating the environmental Kuznets curve hypothesis: the role of tourism and ecological footprint. Environmental Science and Pollution Research, 23, 1916-1928.
  • Panayotou, T. (1995). Environmental degradation at different stages of economic development. I. Ahmed ve J. A. Doeleman (editörler), Beyond Rio: The environmental crisis and sustainable livelihoods in the third world içinde (s. 13-36). New York: St. Martin’s Press.
  • Pata, U. K., & Caglar, A. E. (2021). Investigating the EKC hypothesis with renewable energy consumption, human capital, globalization and trade openness for China: evidence from augmented ARDL approach with a structural break. Energy, 216, 1-16.
  • Pata, U. K., & Yilanci, V. (2020). Financial development, globalization and ecological footprint in G7: further evidence from threshold cointegration and fractional frequency causality tests. Environmental and Ecological Statistics, 27(4), 803-825.
  • Pazienza, P. (2015). The relationship between CO2 and Foreign Direct Investment in the agriculture and fishing sector of OECD countries: Evidence and policy considerations. Intelektinė Ekonomika, 9(1), 55-66.
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326.
  • Phong, L. H. (2019). Globalization, financial development, and environmental degradation in the presence of environmental Kuznets curve: evidence from ASEAN-5 countries. International Journal of Energy Economics and Policy, 9(2), 40-50
  • Raggad, B. (2020). Economic development, energy consumption, financial development, and carbon dioxide emissions in Saudi Arabia: new evidence from a nonlinear and asymmetric analysis. Environmental Science and Pollution Research, 27, 21872-21891.
  • Reynolds, T. W., Farley, J., & Huber, C. (2010). Investing in human and natural capital: An alternative paradigm for sustainable development in Awassa, Ethiopia. Ecological Economics, 69(11), 2140-2150.
  • Rjoub, H., Odugbesan, J. A., Adebayo, T. S., & Wong, W. K. (2021). Sustainability of the moderating role of financial development in the determinants of environmental degradation: evidence from Turkey. Sustainability, 13(4), 1844.
  • Rudolph, A., & Figge, L. (2017). Determinants of ecological footprints: what is the role of globalization?. Ecological Indicators, 81, 348-361.
  • Sam, C. Y., McNown, R., & Goh, S. K. (2019). An augmented autoregressive distributed lag bounds test for cointegration. Economic Modelling, 80, 130-141.
  • Sarkodie, S. A., & Strezov, V. (2019). Effect of foreign direct investments, economic development and energy consumption on greenhouse gas emissions in developing countries. Science of the Total Environment, 646, 862-871.
  • Saud, S., Chen, S., & Haseeb, A. (2020). The role of financial development and globalization in the environment: accounting ecological footprint indicators for selected one-belt-one-road initiative countries. Journal of Cleaner Production, 250, 1-15.
  • Saud, S., Chen, S., Haseeb, A., Khan, K., & Imran, M. (2019). The nexus between financial development, income level, and environment in Central and Eastern European Countries: a perspective on Belt and Road Initiative. Environmental Science and Pollution Research, 26, 16053-16075.
  • Shahbaz, M., Hye, Q. M. A., Tiwari, A. K., & Leitão, N. C. (2013). Economic growth, energy consumption, financial development, international trade and CO2 emissions in Indonesia. Renewable and sustainable energy reviews, 25, 109-121. doi: 10.1016/j.rser.2013.04.009
  • Shahbaz, M., Jam, F. A., Bibi, S., & Loganathan, N. (2016). Multivariate Granger causality between CO2 emissions, energy intensity and economic growth in Portugal: evidence from cointegration and causality analysis. Technological and Economic Development of Economy, 22(1), 47-74.
  • Shahbaz, M., Sharma, R., Sinha, A., & Jiao, Z. (2021). Analyzing nonlinear impact of economic growth drivers on CO2 emissions: Designing an SDG framework for India. Energy Policy, 148, 1-13.
  • Shujah Ur R., Chen, S., Saud, S., Saleem, N., &Bari MW (2019) Nexus between financial development, energy consumption, income level, and ecological footprint in CEE countries: Do human capital and biocapacity matter? Environmental Science and Pollution Research, 26(31), 31856–31872.
  • Solarin, S. A., Al-Mulali, U., Musah, I., & Ozturk, I. (2017). Investigating the pollution haven hypothesis in Ghana: an empirical investigation. Energy, 124, 706-719.
  • Stein, F., & Sridhar, D. (2019). Back to the future? Health and the World Bank’s human capital index. BMJ, 367, 1-3.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy Economics, 32(1), 137-145.
  • Tamazian, A., Chousa, J. P., & Vadlamannati, K. C. (2009). Does higher economic and financial development lead to environmental degradation: evidence from BRIC countries. Energy policy, 37(1), 246-253.
  • Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of econometrics, 66(1-2), 225-250.
  • Uddin, G. A., Salahuddin, M., Alam, K., & Gow, J. (2017). Ecological footprint and real income: Panel data evidence from the 27 highest emitting countries. Ecological Indicators, 77, 166-175.
  • Udemba, E. N. (2020). A sustainable study of economic growth and development amidst ecological footprint: New insight from Nigerian Perspective. Science of the Total Environment, 732, 1-10.
  • Ullah, A., Tekbaş, M., & Doğan, M. (2023). The impact of economic growth, natural resources, urbanization and biocapacity on the ecological footprint: the case of Turkey. Sustainability, 15(17), 1-15.
  • Ulucak, R., Danish, & Li, N. (2020). The nexus between economic globalization and human development in Asian countries: an empirical investigation. Environmental Science and Pollution Research, 27, 2622-2629.
  • Usman, M., & Makhdum, M. S. A. (2021). What abates ecological footprint in BRICS-T region? Exploring the influence of renewable energy, non-renewable energy, agriculture, forest area and financial development. Renewable Energy, 179, 12-28.
  • Usman, M., Jahanger, A., Makhdum, M. S. A., Balsalobre-Lorente, D., & Bashir, A. (2022). How do financial development, energy consumption, natural resources, and globalization affect Arctic countries' economic growth and environmental quality? An advanced panel data simulation. Energy, 241, 1-13.
  • Usman, M., Kousar, R., & Makhdum, M. S. A. (2020a). The role of financial development, tourism, and energy utilization in environmental deficit: evidence from 20 highest emitting economies. Environmental Science and Pollution Research, 27, 42980-42995.
  • Usman, M., Kousar, R., Yaseen, M. R., & Makhdum, M. S. A. (2020b). An empirical nexus between economic growth, energy utilization, trade policy, and ecological footprint: a continent-wise comparison in upper-middle-income countries. Environmental Science and Pollution Research, 27, 38995-39018.
  • Van den Bergh, J. C., & Verbruggen, H. (1999). Spatial sustainability, trade and indicators: an evaluation of the ‘ecological footprint’. Ecological economics, 29(1), 61-72.
  • Wackernagel, M., & Rees, W. (1998). Our ecological footprint: reducing human impact on the earth (Vol. 9). New Society Publishers.
  • Wang, Z. X., & Li, Q. (2019). Modelling the nonlinear relationship between CO2 emissions and economic growth using a PSO algorithm-based grey Verhulst model. Journal of Cleaner Production, 207, 214-224. doi: 10.1016/j.jclepro.2018.10.010
  • Wu, Y., Shen, L., Zhang, Y., Shuai, C., Yan, H., Lou, Y., & Ye, G. (2019). A new panel for analyzing the impact factors on carbon emission: A regional perspective in China. Ecological Indicators, 97, 260-268.
  • Yang, B., Jahanger, A., & Ali, M. (2021a). Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?. Environmental Science and Pollution Research, 28, 23482-23500.
  • Yang, B., Jahanger, A., Usman, M., & Khan, M. A. (2021b). The dynamic linkage between globalization, financial development, energy utilization, and environmental sustainability in GCC countries. Environmental Science and Pollution Research, 28, 16568-16588.
  • Yuxiang, K., & Chen, Z. (2011). Resource abundance and financial development: Evidence from China. Resources Policy, 36(1), 72-79.
  • Zafar, M. W., Zaidi, S. A. H., Khan, N. R., Mirza, F. M., Hou, F., & Kirmani, S. A. A. (2019). The impact of natural resources, human capital, and foreign direct investment on the ecological footprint: The case of the United States. Resources Policy, 63, 1-10.
  • Zhang, Y. J. (2011). The impact of financial development on carbon emissions: An empirical analysis in China. Energy policy, 39(4), 2197-2203.
  • Zhao, J., Zhao, Z., & Zhang, H. (2021). The impact of growth, energy and financial development on environmental pollution in China: New evidence from a spatial econometric analysis. Energy Economics, 93, 1-18.
  • Zivot, E., Andrews, D.W.K. (1992). Further evidence on the great crash, the oil price shock and the unit root hypothesis. Journal of Business and Economic Statistics, 10, 251–270.
There are 117 citations in total.

Details

Primary Language Turkish
Subjects Macroeconomics (Other), Environmental Economy, Financial Economy
Journal Section Research Article
Authors

Esra Koç 0000-0003-3385-5067

Mehmet Aslan 0000-0002-7455-5354

Publication Date September 29, 2024
Submission Date December 20, 2023
Acceptance Date May 3, 2024
Published in Issue Year 2024 Volume: 25 Issue: 3

Cite

APA Koç, E., & Aslan, M. (2024). EKONOMİK BÜYÜME VE BEŞERÎ SERMAYENİN EKOLOJİK AYAK İZİ ÜZERİNDEKİ ETKİSİ: TÜKİYE ÖRNEĞİ. Anadolu Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 25(3), 218-244. https://doi.org/10.53443/anadoluibfd.1407369


This work is licensed under Creative Commons Attribution-NonCommercial 4.0 International License since 2023.