Validity of the Environmental Kuznets Curve in BRICS-T Countries and the Impact of Financial Development and Trade Openness on Environmental Pollution

Abstract

The Environmental Kuznets Curve (EKC) states that economic growth increases environmental pollution, but as the level of welfare increases, the pollution decreases after a point due to the awareness of protecting the environment. This study was conducted to investigate whether the EKC is valid in BRICS-T countries. Annual data for the period 1991-2017 were analyzed using static panel data methods and found that the Random Effect Model is valid. Analysis findings confirmed that there is an inverted U-shaped relationship between environmental pollution and per capita income in BRICS-T countries and the validity of the EKC. In addition, it has been observed in the study that financial development affects reducing environmental pollution, and trade openness, import, and export have an increasing effect on environmental pollution.

Keywords

• The Environmental Kuznets Curve
• Environmental Pollution
• Income Per Capita
• Financial Development
• Trade Openness

Çevresel Kuznets Eğrisi’nin BRICS-T Ülkelerinde Geçerliliği ve Finansal Gelişmişlik ve Dışa Açıklığın Çevre Kirliliği Üzerindeki Etkisi

Abstract

Çevresel Kuznets Eğrisi (ÇKE), ekonomik büyümenin çevresel kirliliği arttırdığını, ancak refah düzeyi arttıkça çevreyi korumaya yönelik bilincin de oluşmasından dolayı kirliliğin bir noktadan sonra düşüşe geçtiğini söylemektedir. Bu çalışma, ÇKE’nin BRICS-T ülkelerinde geçerli olup olmadığını araştırma amacıyla yapılmıştır. 1991-2017 dönemine ait yıllık veriler statik panel veri yöntemleriyle analiz edilmiş, Rassal Etkiler Modeli’nin geçerliliği tespit edilmiştir. Analiz bulguları BRICS-T ülkelerinde çevresel kirlenme ile kişi başına gelir arasında ters U-şeklinde bir ilişki olduğunu ve ÇKE’nin geçerliliğini doğrulamıştır. Ayrıca çalışmada finansal gelişmişliğin çevresel kirlenmeyi azaltıcı, ekonominin dışa açıklığının, ihracat ve ithalatın ise çevresel kirlenmeyi artırıcı bir etkiye sahip olduğu görülmüştür.

Keywords

• Çevresel Kuznets Eğrisi
• Çevresel Kirlilik
• Kişi Başına Düşen Milli Gelir
• Finansal Gelişmişlik
• Dışa Açıklık

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