Is High Growth Possible with High Institutional Quality and Low Carbon Emissions?

Abstract

The aim of this study is to determine whether higher growth will be achieved in 7 developed countries (Group of Seven-G7) and 9 developing countries (Developing Countries-D9) with higher institutional quality and lower carbon emissions, with annual time series data for the 1996-2018 period. For this purpose, Westerlund (2007) cointegration test method was used to determine the long-term cointegration relationship between growth, institutional quality indicators and CO2 emission variables. According to the findings, it has been determined that there is a long-term cointegration relationship between growth, CO2 and institutional quality variables in all alternative models established for both G7 and D9 countries. DOLSMG long-term panel cointegration coefficient estimation method was used to determine the direction and degree of the long-term cointegration relationship. According to the results obtained from the DOLSMG estimation, the segregation for G7 and D9 countries reveals a negative relationship between per capita economic growth and CO2 emissions for the entire panel. This shows that reducing carbon emissions supports economic growth in G7 countries. Similarly, there is evidence to suggest that per capita economic growth is significantly and positively affected by institutional quality. This proves that improving institutional quality can support the economic growth of G7 and D9 countries.

Keywords

• Economic Growth
• Institutional Quality and Environment
• Carbon Emission
• Panel Data Analysis

Yüksek Kurumsal Kalite ve Düşük Karbon Emisyonu ile Yüksek Büyüme Mümkün mü?

Abstract

Bu çalışmanın amacı daha yüksek kurumsal kalite ve daha düşük karbon emisyonu ile gelişmiş 7 ülke (Group of Seven-G7) ve gelişmekte olan 9 ülkede (Developing Countries-D9) daha yüksek büyümenin elde edilip edilmeyeceğini 1996-2018 dönemi yıllık zaman serisi verileri ile tespit etmektir. Bu amaçla, büyüme, kurumsal kalite göstergeleri ve CO2 emisyonu değişkenleri arasında uzun dönem eşbütünleşme ilişkisinin tespiti için Westerlund (2007) Eşbütünleşme testi yöntemi kullanılmıştır. Elde edilen bulgulara göre hem G7 hem de D9 ülkeri için kurulan tüm alternatif modellerde büyüme, CO2 ve kurumsal kalite değişkenleri arasında uzun dönemli eşbütünleşme ilişkisinin olduğu tespit edilmiştir. Tespit edilen uzun dönemli eşbütünleşme ilişkisinin yönünün ve derecesinin belirlenmesi amacıyla DOLSMG uzun dönem panel eşbütünleşme katsayı tahmin yöntemi kullanılmıştır. DOLSMG tahmininden elde edilen sonuçlara göre, G7 ve D9 ülkeleri için ayrı ayrı oluşturulan panelin tamamı için kişi başına ekonomik büyüme ile CO2 emisyonları arasında negatif ve anlamlı bir ilişki olduğunu ortaya koymaktadır. Bu, karbon emisyonunun azaltılmasının G7 ülkelerinde ekonomik büyümeyi desteklediğini göstermektedir. Benzer şekilde, kişi başına ekonomik büyümenin kurumsal kaliteden önemli ölçüde ve olumlu yönde etkilendiğini gösteren kanıtlar vardır. Bu, kurumsal kalitenin iyileştirilmesinin G7 ve D9 ülkelerinin ekonomik büyümesini destekleyebileceğini kanıtlamaktadır.

Keywords

• Ekonomik Büyüme
• Kurumsal Kalite ve Çevre
• Karbon Emisyonu
• Panel Veri Analizi

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