The Relationship of Foreign Direct Investments, Renewable Energy Consumption, Foreign Trade and Financial Development with Carbon Dioxide Emission in G-20 Countries: 1990-2020

Abstract

In this study, which aims to examine the effects of climate change on foreign trade, financial development index, foreign direct investments and renewable energy consumption, the countries of Turkey, China, Mexico, India, France, the US, Argentina and Brazil are examined. In the study conducted considering the 1990-2020 time period, it was observed that the series had cross-sectional dependence and had a heterogeneous structure. In the light of this information, Madfuller, CADF and CIPS second generation panel unit root tests were applied to the series. Dumitrescu and Hurlin (2012) Panel Causality Analysis was applied to investigate the causality relationship between the series. The findings showed that the dependent variable carbon dioxide emissions, which is an indicator of climate change, has a bidirectional causal relationship with foreign trade, financial development index, foreign direct investments and renewable energy consumption. The study also underlines that the variables considered to minimize the negative effects of climate change can be seen not only as a macroeconomic variable but also as a tool of environmental protection policies.

Keywords

• Climate Change
• Foreign Trade
• Financial Development Index
• Renewable Energy Consumption
• Dumitrescu and Hurlin (2012) Causality Test

G-20 Ülkelerinde Doğrudan Yabancı Yatırımlarının Yenilenebilir Enerji Tüketiminin Dış Ticaretin ve Finansal Gelişmişliğin Karbondioksit Salınımı ile İlişkisi: 1990-2020

Abstract

İklim değişikliğinin doğrudan yabancı yatırımlar, yenilenebilir enerji tüketimi, dış ticaret ve finansal gelişmişlik düzeyi üzerindeki etkilerini incelemeyi amaçlayan bu çalışmada Türkiye, Çin, Meksika, Hindistan, Fransa, Amerika Birleşik Devletleri, Arjantin ve Brezilya ülkeleri incelenmektedir. 1990-2020 zaman aralığı ele alınarak yapılan çalışmada serilerin yatay kesit bağımlılığının bulunduğu ve heterojen yapıya sahip olduğu gözlenmiştir. Bu bilgiler ışığında serilere Madfuller, CADF ve CIPS ikinci nesil panel birim kök testleri uygulanmıştır. Seriler arasındaki nedensellik ilişkisini araştırmak amacıyla Dumitrescu ve Hurlin (2012) Panel Nedensellik Analizi uygulanmıştır. Elde edilen bulgular iklim değişikliğinin bir göstergesi olan bağımlı değişken karbondioksit salınımının, dış ticaret, finansal gelişmişlik endeksi, doğrudan yabancı yatırımlar ve yenilenebilir enerji tüketimi ile çift yönlü nedensellik ilişkisine sahip olduğunu göstermiştir. Çalışma ayrıca, iklim değişikliğinin olumsuz etkilerini en aza indirgemek amacıyla ele alınan değişkenlerin, sadece makroekonomik bir değişken değil, aynı zamanda çevreyi koruma politikalarının da bir aracı olarak görülebileceğinin altını çizmektedir.

Keywords

• İklim Değişikliği
• Dış ticaret
• Finansal Gelişmişlik Endeksi
• Yenilenebilir Enerji Tüketimi
• Dumitrescu ve Hurlin (2012) Nedensellik Testi

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