Çevresel ve Finansal Kuznets Eğrisinin Geçerliliği: Türkiye Örneği
Year 2020,
Volume: 6 Issue: 3, 125 - 135, 05.11.2020
Mustafa Torusdağ
Abdulkadir Barut
Abstract
Bu çalışmada gelir dağılımı ve ekonomik büyüme ilişkisini inceleyen
Kuznets (1955)’in Çevresel Kuznets Hipotezi’nin 1990-2017 dönemi için
Türkiye’de geçerliliğinin incelenmesi yanısıra 2002-2017 dönemi için
Greenwood ve Jonanovic (1990)’ın, finansal gelişme ve gelir dağılımı
adaletsizliği ilişkisini incelediği Finansal Kuznets Hipotezi’nin Türkiye
için geçerliliğinin ADF birim kök testi ve Bayer ve Hanck (2012)
eşbütünleşme testleri ile analiz edilmesi ve hipotezlerin geçerliliği
incelenmektedir. Analiz bulgularına göre, Türkiye’de incelenen
dönemde Çevresel Kuznets eğrisi geçerli olduğu ancak Finansal Kuznets
Eğrisi’nin Türkiye ekonomisi için geçerli olmadığı bulunmuştur.
References
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Economic Zone Forecast”, Work and Society, 44 (1), 195-220.
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Department of Economics”, Discussion Paper, No. 8, 1-25.
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Openness and Economic Growth Relationship”, Management and Economics
Research Journal, 13 (1), 308-325.
- Baiardia, Donatella, and Claudio Morana (2016), “The Financial Kuznets Curve: Evidence for
the Euro Area”, Journal of Empirical Finance, Vol 39, 265–269.
- Batuo, M.E, F. Guidi, and K. Mlambo (2010), “Financial Development and Income
Inequality: Evidence from African Countries”, MPRA Paper 25658, University Library
of Munich, Germany.
- Awesome, Selim, Temurlenk, M. Sinan, (2007), “Adapted Environmental Kuznets Curve: A
Case Study on Turkey”, Atatürk University Journal of Economic and Administrative
Sciences, 21 (1), 1-12.
- Charfeddine, Lanouar and Khediri, Karim Ben, (2016), “Financial Development and
Environmental Quality in UAE: Cointegration with Structural Breaks”, Renewable
and Sustainable Energy Reviews, 55, pp. 13221335.
- Çetin, M., and Şeker, F. (2014), “Economic Growth and Environmental Pollution's Impact on
Foreign Trade: A ARDL Bounds Test Approach for Turkey”, Management and
Economics: Celal Bayar University Journal of the Faculty of Economics and
Administrative Sciences, 21 (2), 213-230.
- Destek, M. A., Okumuş, I., and Manga, M. (2017), “Financial Development and Income
Distribution Relationship in Turkey: Financial Kuznets Curve”, Doğuş University
Journal, 18 (2), 153-165.
- Dickey, D. A., W. A. Fuller (1979), “Distribution Of The Estimators ForAutoregressive Time
Series With A Unit Root”, Journal of the American Statistical Association, Vol. 74,
No. 366, pp. 427-431.
- Dickey, D. A. W. A. Fuller (1981), “Likelihood Ratio Statistics for Autoregressive Time Series
with a Unit Root”, Econometrica, Vol. 49, No. 4., pp. 1057-1072.
- Enders, Walter (1995), Applied Econometric Time Series, First Edition, Wiley.
- Govindaraju, V.G.R.C. and Chor, Foon, Tang (2013), “The Dynamic Links Between CO2
Emissions, Economic Growth and Coal Consumption in China and India”, Applied
Energy, 104, p. 310--318.
- Grossman, G. M., and Krueger, A. B. (1991), “Environmental Impacts of a North American
Free Trade Agreement”, NBER Working Paper, No. 3914, 1-57.
- Güney, A. (2018), “Extended Environmental Kuznets Curve of Reassessment for Turkey”,
Atatürk University Journal of Economic and Administrative Sciences, 32 (3), 745-
761.
- Harris R. I. D (1995), Using Cointegration Analaysis in Econometric Modelling, Harlow,
London: Prentice Hall.
- Hepsağ, A. (2017), “Financial Kuznets Curve Hypothesis: The Case of G-7 Countries”, SGD -
Social Security Journal, 7 (2), 135-156.
- Hoi, Chu; Hoi, Le Quoc (2012), “Financial Development and Income Inequality in Vietnam:
An Empirical Analysis”, Journal of Economics and Development, 14 (2), , p. 5-25.
- İğde, E. (2010), “Unit Root Test Under The Structural Change And Applications On
Macroeconomic Variables”, Republic of Turkey Çukurova University Social Sciences
Institute Department Econometrics, Adana.
- Jauch, Sebastian, and Sebastian Watzka (2016), “Financial Development and Income
Inequality: A Panel Data Approach”, Empirical Economics, Vol. 51, 291–314.
- Javid, Muhammad and Sharif, Fatima, (2016), “Environmental Kuznets Curve and Financial
Development in Pakistan”, Renewable and Sustainable Energy Reviews, 54, pp. 406-
414.
- Karahan, Z., B. (2019), Investigation of the Internality Problem in the Relationship between
Environmental Pollution and Economic Development: Panel Quantile Tool Variable
Approach, Pamukkale University Institute of Social Sciences, Master Thesis, Denizli.
- Kashyna, O (2011), “Investigating the Environmental Kuznets Curve Hypothesis using
Environmental Performance Indices”, School of Economics and Management, Lund
University.
- Katırcıoğlu, Salih Turan and Taşpınar, Nigar, (2017), “Testing The Moderating Role of
Financial Development in an Environmental Kuznets Curve: Emprical Evidence from
Turkey”, Renewable and Sustainable Energy Reviews, 68, pp. 572-586.
- Kim, Dong-Hyeon, and Shu-Chin Lin (2011), “Nonlinearity in the Financial Development and
Income Inequality Nexus”, Journal of Comparative Economics, Vol 39, 310-325.
- Kuznets, Simon, (1955), “Economic Growth and Income Inequality”, The American
Economic Review, 45 (1), pp. 1-28.
- Kızılkaya, O. (2017), “The Impact of Economic Growth and Foreign Direct Investment on
CO2 Emissions: The Case of Turkey”, Turkish Economic Review. 4 (1), 106-118.
- Kuznets, Simon, (1955), “Economic Growth and Income Inequality”, The American
Economic Review, 45 (1), 1-28.
- Law, S.H, & Tan, H.Y.B (2009), “The Role of Financial Development on Income Inequality in
Malaysia”, Journal of Economic Development 34 (2), 153168.
- Lebe, F. (2016), “Environmental Kuznets Curve Hypothesis: Cointegration and Causality
Analysis for Turkey”, Doğuş University Journal, 17 (2) 2016, pp. 177-194.
- Liang, Z. (2006), “Financial development and income distribution: a system GMM panel
analysis with application to urban China”, Journal of Economic Development, 31 (2),
1.
- Lundberg, Mattias and Squire, Lyn (2003), “The Simultaneous Evolution of Growth and
Inequality”, Economic Journal, 113, 326-344.
- Moosa, I. A. (2016), “International Evidence on the Financial Kuznets Curve”, Economia
Internazionale / International Economics, 69 (4), 365-78.
- Moghadam, Hadi Esmaeilpour and Dehbashi, Vahid, (2018), “The Impact of Financial
Development and Trade on Environmental Quality in Iran”, Emprical Economics, 54
(4), pp. 1777-1799.
- Nikoloski, Z. (2010), “Financial Sector Development and Income Inequality: Is there a
Financial Kuznets Curve?”, SSRN Papers 1703224.
- Nikoloski, Zlatko (2013), “Financial Sector Development and Inequality: Is there any
Financial Kuznets Curve?”, Journal of International Development, Vol. 25, 897–911.
- Özokçu, Selin and Özdemir, Özlem, (2017), “Economic Growth, Energy and Environmental
Kuznets Curve”, Renewable and Sustainable Energy Reviews, 72, pp. 639-647.
- Park, D., and Shin, K. (2015), “Economic Growth, Financial Development, and Income
Inequality”, Asian Development Bank Economics Working Paper Series, (441).
- Rehman, Hafeez U., Sajawal Khan and Imtiaz Ahmed (2008), “Income Distribution, Growth
and Financial Development: A Cross Countries Analysis”, Pakistan Economic and
Social Review, 46 (1), pp. 1-16.
- Saboori, Behnaz and Sulaiman, Jamalludin (2013), “𝐶𝑂2 Emissions, Energy Consumption
and Economic Growth in Association of Southeast Asian Nations (ASEAN) Countries:
A Cointegration Approach”, Energy, 55, pp. 813-822.
- Shahbaz, Muhammad, Islam, Faridul, “Financial Development and Income Inequality in
Pakistan: An Application of ARDL Approach”, MPRA, No: 28222, 2011, p. 1-20.
- Shahbaz, M., Loganathan, N., Tiwari, A. K., and Sherafatian-Jahromi, R. (2014), “Financial
Development and Income Inequality: Is There Any Financial Kuznets Curve in Iran?”,
Social Indicators Research, 124 (2), 357-382.
- Shahbaz, Muhammad, Solarin, Sakiru Adebola, Mahmood, Haider and Arouri, (2013a),
“Does Financial Development Reduce 𝐶𝑂2 Emissions in Malaysian economy? A Time
Series Analysis”, Economic Modeling, 35, pp. 145-152.
- Satti, Saqlain, Mahalik, Mantu, Bhattacharya, Mita, Shahbaz, Muhammad (2015), “Dynamics
of Income Inequality, Finance and Trade in Kazakhstan: Empirical Evidence from a
New Transition Economy with Policy Prescriptions”, Monash Business School, 36
(15), p. 1-40.
- Saygın S. (2018), Empirical Analysis of Environmental Kuznets Curve Hypothesis: The Case
of Turkey, Tekirdağ Namık Kemal University, Institute of Social Sciences,
Department of Economics. Master Thesis, Tekirdağ.
- Sehrawat, Madhu, Giri, A. K., Mohapatra, Geetilaxmi. (2015), “The impact of financial
development, economic growth and energy consumption on environmental
degradation: Evidence from India”, Management of Environmental Quality An
International Journal, 26. 666 - 682.
- Sisay Demissew Beyene and Balázs Kotosz (2019), “Testing the Environmental Kuznets Curve
Hypothesis: An Empirical Study for East African Countries”, International Journal of
Environmental Studies, DOI: 10.1080/00207233.2019.1695445.
- Tamazian, Artur, Chousa, Juan Pineiro, Vadlamannati, krishna Chaitanya, (2009), “Does
Higher Economic and financial Development Lead to Environmental Degradation:
evidence from BRIC Countries”, Energy Policy, 37, 246-253.
- Uchiyama, K. (2016), “Environmental Kuznets Curve Hypothesis and Carbon Dioxide
Emissions”, Springer Briefs in Economics Development Bank of Japan Research
Series, Tokyo.
- Ullah, S. and M., S., Awan (2019), “Environmental Kuznets Curve and Income Inequality:
Pooled Mean Group Estimation for Asian Developing Countries”, Forman Journal of
Economic Studies, vol. 15, 157-179.
- WCED, (1987), “Our Common Future. Work Environment and Development Comission
Report”, WCED, Switzerland.
- Yandle, B., Bhattarai, M., Vijayaraghavan, M. (2004), “Environmental Kuznets Curves: A
Review of Findings, Methods and Policy Implications”, Research Study, 2, 1-16.
- Yang, Haisheng, He, Jie, Che, Shaoling, (2015), “The Fragility of The Environmental Kuznets
Curve: Revisiting The Hypothesis with Chinese Data via an ‘Extreme Bound
Analysis’”, Ecological Economics, 109, 41-58.
- Zhang, Chuanguo ve Zhao, Wei, (2014), “Panel estimation for Income Inequality and 𝐶𝑂2
Emissions: A Regional Analysis in China”, Applied Energy, 136, ss.382-392.
- Zhang, Yue-Jun, (2011), “The Impact of Financial Development on Carbon Emissions: An
empirical Analysis in China”, Energy Policy, 39, 2197-2203.
Validity of Environmental and Financial Kuznets Curve: The Case of Turkey
Year 2020,
Volume: 6 Issue: 3, 125 - 135, 05.11.2020
Mustafa Torusdağ
Abdulkadir Barut
Abstract
This study examined the distribution of income and economic growth
relationship Kuznets (1955) in environmental Kuznets hypothesis is
valid in Turkey for the period 1990-2017 was investigated. Also for the
2002-2017 period and Jonanovic Greenwood (1990) revealed that in
order to examine the relationship between financial development and
income distribution inequalities examined with financial Kuznets
hypothesis validity for Turkey was investigated. In the study, the
validity of the hypotheses was examined by ADF unit root test and
Bayer and Hanck (2012) cointegration tests. According to the analysis
findings, the Environmental Kuznets Curve in the examined period in
Turkey were found to be valid, but Financial Kuznets Curve has not
been found to be valid for Turkey's economy.
References
- Akıncı, Merter (2015). “Fuzzy Water Fishing: Trickle - Down the Effect of Cross-Turkey
Economic Zone Forecast”, Work and Society, 44 (1), 195-220.
- Ang, J.B. (2008), “Finance and Inequality: The Case of India, Monash University,
Department of Economics”, Discussion Paper, No. 8, 1-25.
- Artan, S., Hayaloğlu, P., and Seyhan, B. (2015), “Environmental Pollution in Turkey,
Openness and Economic Growth Relationship”, Management and Economics
Research Journal, 13 (1), 308-325.
- Baiardia, Donatella, and Claudio Morana (2016), “The Financial Kuznets Curve: Evidence for
the Euro Area”, Journal of Empirical Finance, Vol 39, 265–269.
- Batuo, M.E, F. Guidi, and K. Mlambo (2010), “Financial Development and Income
Inequality: Evidence from African Countries”, MPRA Paper 25658, University Library
of Munich, Germany.
- Awesome, Selim, Temurlenk, M. Sinan, (2007), “Adapted Environmental Kuznets Curve: A
Case Study on Turkey”, Atatürk University Journal of Economic and Administrative
Sciences, 21 (1), 1-12.
- Charfeddine, Lanouar and Khediri, Karim Ben, (2016), “Financial Development and
Environmental Quality in UAE: Cointegration with Structural Breaks”, Renewable
and Sustainable Energy Reviews, 55, pp. 13221335.
- Çetin, M., and Şeker, F. (2014), “Economic Growth and Environmental Pollution's Impact on
Foreign Trade: A ARDL Bounds Test Approach for Turkey”, Management and
Economics: Celal Bayar University Journal of the Faculty of Economics and
Administrative Sciences, 21 (2), 213-230.
- Destek, M. A., Okumuş, I., and Manga, M. (2017), “Financial Development and Income
Distribution Relationship in Turkey: Financial Kuznets Curve”, Doğuş University
Journal, 18 (2), 153-165.
- Dickey, D. A., W. A. Fuller (1979), “Distribution Of The Estimators ForAutoregressive Time
Series With A Unit Root”, Journal of the American Statistical Association, Vol. 74,
No. 366, pp. 427-431.
- Dickey, D. A. W. A. Fuller (1981), “Likelihood Ratio Statistics for Autoregressive Time Series
with a Unit Root”, Econometrica, Vol. 49, No. 4., pp. 1057-1072.
- Enders, Walter (1995), Applied Econometric Time Series, First Edition, Wiley.
- Govindaraju, V.G.R.C. and Chor, Foon, Tang (2013), “The Dynamic Links Between CO2
Emissions, Economic Growth and Coal Consumption in China and India”, Applied
Energy, 104, p. 310--318.
- Grossman, G. M., and Krueger, A. B. (1991), “Environmental Impacts of a North American
Free Trade Agreement”, NBER Working Paper, No. 3914, 1-57.
- Güney, A. (2018), “Extended Environmental Kuznets Curve of Reassessment for Turkey”,
Atatürk University Journal of Economic and Administrative Sciences, 32 (3), 745-
761.
- Harris R. I. D (1995), Using Cointegration Analaysis in Econometric Modelling, Harlow,
London: Prentice Hall.
- Hepsağ, A. (2017), “Financial Kuznets Curve Hypothesis: The Case of G-7 Countries”, SGD -
Social Security Journal, 7 (2), 135-156.
- Hoi, Chu; Hoi, Le Quoc (2012), “Financial Development and Income Inequality in Vietnam:
An Empirical Analysis”, Journal of Economics and Development, 14 (2), , p. 5-25.
- İğde, E. (2010), “Unit Root Test Under The Structural Change And Applications On
Macroeconomic Variables”, Republic of Turkey Çukurova University Social Sciences
Institute Department Econometrics, Adana.
- Jauch, Sebastian, and Sebastian Watzka (2016), “Financial Development and Income
Inequality: A Panel Data Approach”, Empirical Economics, Vol. 51, 291–314.
- Javid, Muhammad and Sharif, Fatima, (2016), “Environmental Kuznets Curve and Financial
Development in Pakistan”, Renewable and Sustainable Energy Reviews, 54, pp. 406-
414.
- Karahan, Z., B. (2019), Investigation of the Internality Problem in the Relationship between
Environmental Pollution and Economic Development: Panel Quantile Tool Variable
Approach, Pamukkale University Institute of Social Sciences, Master Thesis, Denizli.
- Kashyna, O (2011), “Investigating the Environmental Kuznets Curve Hypothesis using
Environmental Performance Indices”, School of Economics and Management, Lund
University.
- Katırcıoğlu, Salih Turan and Taşpınar, Nigar, (2017), “Testing The Moderating Role of
Financial Development in an Environmental Kuznets Curve: Emprical Evidence from
Turkey”, Renewable and Sustainable Energy Reviews, 68, pp. 572-586.
- Kim, Dong-Hyeon, and Shu-Chin Lin (2011), “Nonlinearity in the Financial Development and
Income Inequality Nexus”, Journal of Comparative Economics, Vol 39, 310-325.
- Kuznets, Simon, (1955), “Economic Growth and Income Inequality”, The American
Economic Review, 45 (1), pp. 1-28.
- Kızılkaya, O. (2017), “The Impact of Economic Growth and Foreign Direct Investment on
CO2 Emissions: The Case of Turkey”, Turkish Economic Review. 4 (1), 106-118.
- Kuznets, Simon, (1955), “Economic Growth and Income Inequality”, The American
Economic Review, 45 (1), 1-28.
- Law, S.H, & Tan, H.Y.B (2009), “The Role of Financial Development on Income Inequality in
Malaysia”, Journal of Economic Development 34 (2), 153168.
- Lebe, F. (2016), “Environmental Kuznets Curve Hypothesis: Cointegration and Causality
Analysis for Turkey”, Doğuş University Journal, 17 (2) 2016, pp. 177-194.
- Liang, Z. (2006), “Financial development and income distribution: a system GMM panel
analysis with application to urban China”, Journal of Economic Development, 31 (2),
1.
- Lundberg, Mattias and Squire, Lyn (2003), “The Simultaneous Evolution of Growth and
Inequality”, Economic Journal, 113, 326-344.
- Moosa, I. A. (2016), “International Evidence on the Financial Kuznets Curve”, Economia
Internazionale / International Economics, 69 (4), 365-78.
- Moghadam, Hadi Esmaeilpour and Dehbashi, Vahid, (2018), “The Impact of Financial
Development and Trade on Environmental Quality in Iran”, Emprical Economics, 54
(4), pp. 1777-1799.
- Nikoloski, Z. (2010), “Financial Sector Development and Income Inequality: Is there a
Financial Kuznets Curve?”, SSRN Papers 1703224.
- Nikoloski, Zlatko (2013), “Financial Sector Development and Inequality: Is there any
Financial Kuznets Curve?”, Journal of International Development, Vol. 25, 897–911.
- Özokçu, Selin and Özdemir, Özlem, (2017), “Economic Growth, Energy and Environmental
Kuznets Curve”, Renewable and Sustainable Energy Reviews, 72, pp. 639-647.
- Park, D., and Shin, K. (2015), “Economic Growth, Financial Development, and Income
Inequality”, Asian Development Bank Economics Working Paper Series, (441).
- Rehman, Hafeez U., Sajawal Khan and Imtiaz Ahmed (2008), “Income Distribution, Growth
and Financial Development: A Cross Countries Analysis”, Pakistan Economic and
Social Review, 46 (1), pp. 1-16.
- Saboori, Behnaz and Sulaiman, Jamalludin (2013), “𝐶𝑂2 Emissions, Energy Consumption
and Economic Growth in Association of Southeast Asian Nations (ASEAN) Countries:
A Cointegration Approach”, Energy, 55, pp. 813-822.
- Shahbaz, Muhammad, Islam, Faridul, “Financial Development and Income Inequality in
Pakistan: An Application of ARDL Approach”, MPRA, No: 28222, 2011, p. 1-20.
- Shahbaz, M., Loganathan, N., Tiwari, A. K., and Sherafatian-Jahromi, R. (2014), “Financial
Development and Income Inequality: Is There Any Financial Kuznets Curve in Iran?”,
Social Indicators Research, 124 (2), 357-382.
- Shahbaz, Muhammad, Solarin, Sakiru Adebola, Mahmood, Haider and Arouri, (2013a),
“Does Financial Development Reduce 𝐶𝑂2 Emissions in Malaysian economy? A Time
Series Analysis”, Economic Modeling, 35, pp. 145-152.
- Satti, Saqlain, Mahalik, Mantu, Bhattacharya, Mita, Shahbaz, Muhammad (2015), “Dynamics
of Income Inequality, Finance and Trade in Kazakhstan: Empirical Evidence from a
New Transition Economy with Policy Prescriptions”, Monash Business School, 36
(15), p. 1-40.
- Saygın S. (2018), Empirical Analysis of Environmental Kuznets Curve Hypothesis: The Case
of Turkey, Tekirdağ Namık Kemal University, Institute of Social Sciences,
Department of Economics. Master Thesis, Tekirdağ.
- Sehrawat, Madhu, Giri, A. K., Mohapatra, Geetilaxmi. (2015), “The impact of financial
development, economic growth and energy consumption on environmental
degradation: Evidence from India”, Management of Environmental Quality An
International Journal, 26. 666 - 682.
- Sisay Demissew Beyene and Balázs Kotosz (2019), “Testing the Environmental Kuznets Curve
Hypothesis: An Empirical Study for East African Countries”, International Journal of
Environmental Studies, DOI: 10.1080/00207233.2019.1695445.
- Tamazian, Artur, Chousa, Juan Pineiro, Vadlamannati, krishna Chaitanya, (2009), “Does
Higher Economic and financial Development Lead to Environmental Degradation:
evidence from BRIC Countries”, Energy Policy, 37, 246-253.
- Uchiyama, K. (2016), “Environmental Kuznets Curve Hypothesis and Carbon Dioxide
Emissions”, Springer Briefs in Economics Development Bank of Japan Research
Series, Tokyo.
- Ullah, S. and M., S., Awan (2019), “Environmental Kuznets Curve and Income Inequality:
Pooled Mean Group Estimation for Asian Developing Countries”, Forman Journal of
Economic Studies, vol. 15, 157-179.
- WCED, (1987), “Our Common Future. Work Environment and Development Comission
Report”, WCED, Switzerland.
- Yandle, B., Bhattarai, M., Vijayaraghavan, M. (2004), “Environmental Kuznets Curves: A
Review of Findings, Methods and Policy Implications”, Research Study, 2, 1-16.
- Yang, Haisheng, He, Jie, Che, Shaoling, (2015), “The Fragility of The Environmental Kuznets
Curve: Revisiting The Hypothesis with Chinese Data via an ‘Extreme Bound
Analysis’”, Ecological Economics, 109, 41-58.
- Zhang, Chuanguo ve Zhao, Wei, (2014), “Panel estimation for Income Inequality and 𝐶𝑂2
Emissions: A Regional Analysis in China”, Applied Energy, 136, ss.382-392.
- Zhang, Yue-Jun, (2011), “The Impact of Financial Development on Carbon Emissions: An
empirical Analysis in China”, Energy Policy, 39, 2197-2203.