The Nexus Among Financial Development, Technological Innovation and Ecological Footprint: The Case of E7 Countries

Year 2024, Volume: 9 Issue: 1, 150 - 165, 30.06.2024

Evin Akgün , Arzu Özmerdivanlı

Abstract

This study aims to investigate the nexus among financial development, technological innovation and ecological footprint in E7 countries. In this context, analysis was made with LM bootstrap panes cointegration test and panel AMG estimator methods using annual data of E7 countries for the period 1990-2019. Cointegration test results show that there is a long-term relationship between the variables. As a result of the Panel AMG estimator, the data obtained at the panel level revealed that renewable energy, fossil energy and economic growth positively affects (increases) the ecological footprint and other variables do not affect the ecological footprint. Panel AMG's findings obtained separately for countries provide evidence that renewable energy, fossil energy and economic growth generally has a positive effect on the ecological footprint, and that the effects of financial development and technological innovation on the ecological footprint vary across countries. The results of study are evaluated, it can be said that eco-friendly technological projects, financial resources, energy resources and economic activities are important in ensuring environmental sustainability.

Keywords

Technological Innovation, Financial Development, Ecological Footprint, Panel Cointegration Analysis

Finansal Gelişme, Teknolojik Yenilik ve Ekolojik Ayak İzi Arasındaki İlişki: E7 Ülkeleri Örneği

Abstract

Bu çalışmada E7 ülkelerinde finansal gelişme, teknolojik yenilik ve ekolojik ayak izi arasındaki ilişkinin araştırılması amaçlanmaktadır. Bu bağlamda E7 ülkelerinin 1990-2019 dönemi için yıllık verileri kullanılarak LM bootstrap panel eşbütünleşme testi ve panel AMG tahmincisi yöntemleri ile analiz yapılmıştır. Eşbütünleme test sonuçları değişkenler arasında uzun dönemde bir ilişki olduğunu göstermektedir. Panel AMG tahmincisi sonucunda panel düzeyinde elde edilen bulgular, yenilenebilir enerjinin, fosil enerjinin ve ekonomik büyümenin ekolojik ayak izini pozitif etkilediğini (artırdığını) diğer değişkenlerin ekolojik ayak izini etkilemediğini ortaya koymaktadır. Panel AMG’nin ülkeler için ayrı ayrı elde edilen bulguları ise yenilenebilir enerjinin, fosil enerjinin ve ekonomik büyümenin ekolojik ayak izi üzerinde genellikle pozitif bir etki yarattığına, finansal gelişmenin ve teknolojik yeniliğin ekolojik ayak izi üzerindeki etkilerinin ülkeler açısından farklılık gösterdiğine ilişkin kanıtlar sunmaktadır. Çalışma kapsamında elde edilen sonuçlar çerçevesinde, çevreye duyarlı teknolojik projelerin, finansman kaynaklarının, enerji kaynaklarının ve ekonomik faaliyetlerin çevresel sürdürülebilirliğin sağlanması açısından önemli olduğu söylenebilir.

Keywords

Teknolojik Yenilik, Finansal Gelişme, Ekolojik Ayak İzi, Panel Eş Bütünleşme Analizi

Ethical Statement

Çalışmanın hazırlık, veri toplama, analiz ve bilgilerin sunumu olmak üzere tüm aşamalarından bilimsel etik ilke ve kurallarına uygun davrandığımı beyan ederim.

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