<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Publishing DTD v1.4 20241031//EN"
        "https://jats.nlm.nih.gov/publishing/1.4/JATS-journalpublishing1-4.dtd">
<article  article-type="research-article"        dtd-version="1.4">
            <front>

                <journal-meta>
                                                                <journal-id>jomelips</journal-id>
            <journal-title-group>
                                                                                    <journal-title>Yönetim Ekonomi Edebiyat İslami ve Politik Bilimler Dergisi</journal-title>
            </journal-title-group>
                                        <issn pub-type="epub">2547-9512</issn>
                                                                                            <publisher>
                    <publisher-name>Bartin University</publisher-name>
                </publisher>
                    </journal-meta>
                <article-meta>
                                        <article-id pub-id-type="doi">10.24013/jomelips.1378847</article-id>
                                                                <article-categories>
                                            <subj-group  xml:lang="en">
                                                            <subject>Development Economics - Macro</subject>
                                                            <subject>International Finance</subject>
                                                    </subj-group>
                                            <subj-group  xml:lang="tr">
                                                            <subject>Kalkınma Ekonomisi - Makro</subject>
                                                            <subject>Uluslararası Finans</subject>
                                                    </subj-group>
                                    </article-categories>
                                                                                                                                                        <title-group>
                                                                                                                        <trans-title-group xml:lang="tr">
                                    <trans-title>SÜRDÜRÜLEBILIR KALKINMADA FİNANSAL GELİŞMİŞLİK, EKONOMİK BÜYÜME VE DIŞ TİCARETİN ROLÜ: GELİŞMEKTE OLAN ÜLKELER ÜZERİNE BİR ARAŞTIRMA</trans-title>
                                </trans-title-group>
                                                                                                                                                                                                <article-title>THE ROLE OF FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND FOREIGN TRADE IN SUSTAINABLE DEVELOPMENT: A CASE OF DEVELOPING COUNTRIES</article-title>
                                                                                                    </title-group>
            
                                                    <contrib-group content-type="authors">
                                                                        <contrib contrib-type="author">
                                                                    <contrib-id contrib-id-type="orcid">
                                        https://orcid.org/0000-0003-2765-4082</contrib-id>
                                                                <name>
                                    <surname>Karpuz</surname>
                                    <given-names>Esra</given-names>
                                </name>
                                                                    <aff>Kütahya Dumlupınar Üniversitesi</aff>
                                                            </contrib>
                                                    <contrib contrib-type="author">
                                                                    <contrib-id contrib-id-type="orcid">
                                        https://orcid.org/0000-0002-5789-6368</contrib-id>
                                                                <name>
                                    <surname>Garayev</surname>
                                    <given-names>Bakhtiyar</given-names>
                                </name>
                                                                    <aff>ANADOLU ÜNİVERSİTESİ</aff>
                                                            </contrib>
                                                                                </contrib-group>
                        
                                        <pub-date pub-type="pub" iso-8601-date="20241231">
                    <day>12</day>
                    <month>31</month>
                    <year>2024</year>
                </pub-date>
                                        <volume>9</volume>
                                        <issue>2</issue>
                                        <fpage>10</fpage>
                                        <lpage>27</lpage>
                        
                        <history>
                                    <date date-type="received" iso-8601-date="20231020">
                        <day>10</day>
                        <month>20</month>
                        <year>2023</year>
                    </date>
                                                    <date date-type="accepted" iso-8601-date="20240803">
                        <day>08</day>
                        <month>03</month>
                        <year>2024</year>
                    </date>
                            </history>
                                        <permissions>
                    <copyright-statement>Copyright © 2016, JOMELIPS - Journal of Management Economics  Literature Islamic and Political Sciences</copyright-statement>
                    <copyright-year>2016</copyright-year>
                    <copyright-holder>JOMELIPS - Journal of Management Economics  Literature Islamic and Political Sciences</copyright-holder>
                </permissions>
            
                                                                                                <trans-abstract xml:lang="tr">
                            <p>Çalışmada gelişmekte olan ülke piyasalarında sürdürebilir kalkınma ile finansal gelişmişlik göstergeleri arasında ilişki incelenmektedir. Finansal gelişmişlik olarak ele aldığımız göstergeler arasında, finansal kalkınmanın, özel sektördeki ulusal kredilerin, piyasa değerinin, dış ticaretin ve yenilenebilir enerjinin sürdürebilir kalkınma üzerinde etkilerine dikkat edilmiştir Sürdürebilir kalkınma ve finansal gelişmişlik arasındaki ilişkinin tespit edilmesi için 2010-2019 dönemi çerçevesinde yıllık veriler ele alınarak panel veri analizi uygulanacaktır.2010-2019 yılları kapsamında MSCI gelişmekte olan ülkelerdeki finansal gelişmişlik, borsa değeri, ithal ve ihracat sürdürülebilir kalkınma endeksini olumlu etkilemiştir.  Yurtiçi krediler ve yenilenebilir enerji tüketimindeki artışlar ise sürdürülebilir kalkınma endeksinin düşmesine neden olmuştur. Birden fazla göstergenin ele alınması, finansal gelişmişliğin temsil edilmesinin bir göstergeye bağlı olmamasından daha güçlü hale getirmektedir. Literatürde gelişmekte olan ülkelerin sürdürebilir kalkınması ile ilgili çalışmalar kısıtlıdır ve ele aldığımız göstergeleri bahsedilen ülkeler kapsamında inceleyen araştırma mevcut değildir. Çalışma bulguları, gelişmekte olan ülke ekonomilerinin daha verimli hale gelmesi, sürdürülebilir olması ve meydana gelebilecek krizlere karşı daha dirençli olması hususunda yol gösterici olacaktır.</p></trans-abstract>
                                                                                                                                    <abstract><p>This study examines the relationship between sustainable development and indicators of financial development in emerging market economies. Among the indicators considered for financial development are the effects of financial advancement on sustainable development, national credit to the private sector, market value, foreign trade, and renewable energy. In order to determine the relationship between sustainable development and financial development, panel data analysis will be conducted by utilizing annual data from the period of 2010 to 2019. Between the years 2010 and 2019, financial development, market value, imports and exports in MSCI emerging market countries have positively influenced the sustainable development index. However, increases in domestic credits and renewable energy consumption have led to a decline in the sustainable development index. The consideration of multiple indicators enhances the robustness of representing financial development compared to relying on a single indicator. Within the literature, there is a scarcity of studies concerning sustainable development in developing countries, and there is no existing research that examines the specified indicators within the context of the mentioned countries. The findings of the research will guide the economies of developing countries to become more efficient, sustainable, and resilient to potential crises.</p></abstract>
                                                            
            
                                                                                        <kwd-group>
                                                    <kwd>Sustainable Development</kwd>
                                                    <kwd>  Financial Development</kwd>
                                                    <kwd>  Foreign Trade</kwd>
                                                    <kwd>  Panel Data.</kwd>
                                            </kwd-group>
                            
                                                <kwd-group xml:lang="tr">
                                                    <kwd>Sürdürebilir Kalkınma</kwd>
                                                    <kwd>  Finansal Gelişmişlik</kwd>
                                                    <kwd>  Dış Ticaret</kwd>
                                                    <kwd>  Panel Veri</kwd>
                                            </kwd-group>
                                                                                                                                        </article-meta>
    </front>
    <back>
                            <ref-list>
                                    <ref id="ref1">
                        <label>1</label>
                        <mixed-citation publication-type="journal">Alam, A. et al., (2015). Does Financial Development Contribute To SAARC&#039;S Energy Demand? From Energy Crisis To Energy Reforms, Renewable and Sustainable Energy Reviews, Volume 41, 818-829.</mixed-citation>
                    </ref>
                                    <ref id="ref2">
                        <label>2</label>
                        <mixed-citation publication-type="journal">Baltagi, B., H., (2005). Econometric Analysis of Panel Data (Third Edit). 
John Wiley &amp; Sons
Bao, J., He, M., (2022). Does Green Credit Promote Green Sustainable Development in Regional Economies?—Empirical Evidence from 280 Cities in China, PLoS ONE 17(11): e0277569. https://doi.org/10.1371/journal.pone.0277569</mixed-citation>
                    </ref>
                                    <ref id="ref3">
                        <label>3</label>
                        <mixed-citation publication-type="journal">Barrera-Roldán, A., &amp; Saldıvar-Valdés, A. (2002). Proposal and application of a Sustainable Development Index. Ecological Indicators, 2(3), 251-256.</mixed-citation>
                    </ref>
                                    <ref id="ref4">
                        <label>4</label>
                        <mixed-citation publication-type="journal">Barrera-Roldán, A., Sald´ıvar-Valdés, A., Correa A., (1998). Propuesta metodológica para la elaboración de un Índice de Desarrollo Sustentable. Internal Report, Instituto Mexicano del Petróleo, México, p. 82.</mixed-citation>
                    </ref>
                                    <ref id="ref5">
                        <label>5</label>
                        <mixed-citation publication-type="journal">Behera, S.R., Dash, D.P., 2017. The Effect of Urbanization, Energy Consumption, and Foreign Direct investment on The Carbon Dioxide Emission in the SSEA (South And Southeast Asian) Region. Renew. Sust. Energ. Rev. 70, 96–106. https://doi.org/10.1016/j.rser.2016.11.201</mixed-citation>
                    </ref>
                                    <ref id="ref6">
                        <label>6</label>
                        <mixed-citation publication-type="journal">Beckerman, W. (1999). Sustainable development and our obligations to future generations. Fairness and futurity: essays on environmental sustainability and social justice, 71.</mixed-citation>
                    </ref>
                                    <ref id="ref7">
                        <label>7</label>
                        <mixed-citation publication-type="journal">Cheru, F., (1992). Structural Adjustment, Primary Resource Trade And Sustainable Development in Sub-Saharan Africa, World Development, 497-512.</mixed-citation>
                    </ref>
                                    <ref id="ref8">
                        <label>8</label>
                        <mixed-citation publication-type="journal">Garson,  G.  David.  (2016).  Partial   Least  Squares  (PLS-SEM):  2016  Edition.  Statistical Associates Publishing, Asheboro.</mixed-citation>
                    </ref>
                                    <ref id="ref9">
                        <label>9</label>
                        <mixed-citation publication-type="journal">Gürlük, S. ve F. Karaer (2003), Gelişmekte Olan Ülkelerde Tarım, Çevre, Ekonomi Etkileşimi, Doğuş Üniversitesi Dergis,i 4(2) 197‐206</mixed-citation>
                    </ref>
                                    <ref id="ref10">
                        <label>10</label>
                        <mixed-citation publication-type="journal">Javed, Z.H., et al.,(2015). Effect of Financial Leverage on Performance of the Firms: Empirical Evidence from Pakistan. SPOUDAI J. Econ. Bus. 2015, 65, 87–95.</mixed-citation>
                    </ref>
                                    <ref id="ref11">
                        <label>11</label>
                        <mixed-citation publication-type="journal">Jiang, C., Chang, Y. (2022). Clean Energy Projects in Asian Economies: Does FDI and Stock Market Matter for Sustainable Development?. Economic Research-Ekonomska Istraživanja, 1-15.</mixed-citation>
                    </ref>
                                    <ref id="ref12">
                        <label>12</label>
                        <mixed-citation publication-type="journal">Kalaycı, C., Hayaloğlu, P.,(2018). The Impact of Economic Globalization on CO2 Emissions: The Case of NAFTA Countries, International Journal of Energy Economics and Policy, 9(1), 356-360.  
https://doi.org/10.32479/ijeep.7233</mixed-citation>
                    </ref>
                                    <ref id="ref13">
                        <label>13</label>
                        <mixed-citation publication-type="journal">Kayani, G., M., Ashfaq, S., Siddique, A., (2020). Assessment of Financial Development on Environmental Effect: Implications for Sustainable Development, Journal of Cleaner Production, 261, 1-8.</mixed-citation>
                    </ref>
                                    <ref id="ref14">
                        <label>14</label>
                        <mixed-citation publication-type="journal">Koçak, E. (2017). Finansal Gelişme Çevresel Kaliteyi Etkiler Mi? Yükselen Piyasa Ekonomileri için Ampirik Kanıtlar. Uluslararası Yönetim İktisat ve İşletme Dergisi, 13(3), 535-552. https://doi.org/10.17130/ijmeb.2017331326</mixed-citation>
                    </ref>
                                    <ref id="ref15">
                        <label>15</label>
                        <mixed-citation publication-type="journal">Koirala B.,S., Pradhan, G.,(2019). Determinants of Sustainable Development: Evidence from 12 Asian Countries, Renewable and Sustainable Energy Reviews, Volume 41, 818-829.</mixed-citation>
                    </ref>
                                    <ref id="ref16">
                        <label>16</label>
                        <mixed-citation publication-type="journal">Le, H. P.,  Bao, H. H. G. (2019). Renewable and Nonrenewable Energy Consumption, Government Expenditure, Institution Quality, Financial Development, Trade Openness, and Sustainable Development in Latin America and Caribbean Emerging Market and Developing Economies. International Journal of Energy Economics and Policy, 10(1), 242–248.  https://www.econjournals.com/index.php/ijeep/article/view/8506</mixed-citation>
                    </ref>
                                    <ref id="ref17">
                        <label>17</label>
                        <mixed-citation publication-type="journal">Maji, I.K., Sulaiman, C. (2019), Renewable Energy Consumption And Economic Growth Nexus: Afresh Evidence from West Africa. Energy Reports, 5, 384-392.</mixed-citation>
                    </ref>
                                    <ref id="ref18">
                        <label>18</label>
                        <mixed-citation publication-type="journal">O’Neill, D. W., Fanning, A. L., Lamb, W. F., &amp; Steinberger, J. K. (2018). A good life for all within planetary boundaries. Nature sustainability, 1(2), 88-95.</mixed-citation>
                    </ref>
                                    <ref id="ref19">
                        <label>19</label>
                        <mixed-citation publication-type="journal">Paramati, S. R., Ummalla, M., Apergis, N. (2016). The Effect of Foreign Direct İnvestmentand Stock Market Growth on Clean Energy Use Across A Panel of Emerging Market Economies.Energy Economics.,56,29–41.</mixed-citation>
                    </ref>
                                    <ref id="ref20">
                        <label>20</label>
                        <mixed-citation publication-type="journal">Ringle, C.,M., Wende, S., &amp; Becker, J.,M. (2015). SmartPLS 3. Bönningstedt: SmartPLS.</mixed-citation>
                    </ref>
                                    <ref id="ref21">
                        <label>21</label>
                        <mixed-citation publication-type="journal">Rogerson, P.A. (2001). Statistical Methods for Geography. London: Sage. https://dx.doi.org/10.4135/9781849209953</mixed-citation>
                    </ref>
                                    <ref id="ref22">
                        <label>22</label>
                        <mixed-citation publication-type="journal">Rudolph, A., &amp; Figge, L. (2017). Determinants of Ecological Footprints: What is the role of globalization? Ecological Indicators, 1, 348–361. https://doi.org/10.1016/j.ecolind.2017.04.060</mixed-citation>
                    </ref>
                                    <ref id="ref23">
                        <label>23</label>
                        <mixed-citation publication-type="journal">Samour, A., Baskaya, M.M., Tursoy, T.(2022) The Impact of Financial Development and FDI on Renewable Energy in the UAE: A Path towards Sustainable Development. Sustainability, 1208,14.  
https://doi.org/10.3390/su14031208</mixed-citation>
                    </ref>
                                    <ref id="ref24">
                        <label>24</label>
                        <mixed-citation publication-type="journal">Sarkodie, A., A., Strezov, V.,(2018). Effect Of Foreign Direct İnvestments, Economic Development And Energy Consumption On Greenhouse Gas Emissions İn Developing Countries, Science of The Total Environment, Volume 646, 862-871. https://doi.org/10.1016/j.scitotenv.2018.07.365.</mixed-citation>
                    </ref>
                                    <ref id="ref25">
                        <label>25</label>
                        <mixed-citation publication-type="journal">Shahbaz, M., Khan, S., Tahir, M.I. (2013). The Dynamic Links Between Energy Consumption, Economic Growth, Financial Development And Trade İn China: Fresh Evidence From Multivariate Framework Analysis. Energy Economics, 40, 8-21.</mixed-citation>
                    </ref>
                                    <ref id="ref26">
                        <label>26</label>
                        <mixed-citation publication-type="journal">Ulucak, R., Khan, S.U.D., 2020. Determinants Of The Ecological Footprint: Role Of Renewable Energy, Natural Resources, And Urbanization.Sustainable Cities and Society, 54, 101996. https://doi.org/10.1016/j.scs.2019.101996
 
Usman,M., Balsalobre-Lorente, D.,(2022). Environmental concern in the era of industrialization: Can financial development, renewable energy and natural resources alleviate some load? Enerjy Policy, Volume 162. https://doi.org/10.1016/j.enpol.2022.112780</mixed-citation>
                    </ref>
                                    <ref id="ref27">
                        <label>27</label>
                        <mixed-citation publication-type="journal">WCED (1987). Our Common Future, Oxford: Oxford University Press.</mixed-citation>
                    </ref>
                                    <ref id="ref28">
                        <label>28</label>
                        <mixed-citation publication-type="journal">Xu, Z., et al.,(2020), Impacts of international trade on global sustainable development, Natura Sustainability, https://www.nature.com/articles/s41893-020-0572-z.pdf</mixed-citation>
                    </ref>
                                    <ref id="ref29">
                        <label>29</label>
                        <mixed-citation publication-type="journal">Yerdelen Tatoğlu, F (2012). Panel Veri Ekonometrisi, 2nd Ed.; Beta Yayınevi: Istanbul.</mixed-citation>
                    </ref>
                                    <ref id="ref30">
                        <label>30</label>
                        <mixed-citation publication-type="journal">Zakarya, G.Y., et.al.,(2015). Factors Affecting CO2 Emissions İn The BRICS Countries: A Panel Data Analysis. Procedia Econ. Financ. 26, 114–125.</mixed-citation>
                    </ref>
                                    <ref id="ref31">
                        <label>31</label>
                        <mixed-citation publication-type="journal">http-1: https://www.msci.com/emerging-markets</mixed-citation>
                    </ref>
                                    <ref id="ref32">
                        <label>32</label>
                        <mixed-citation publication-type="journal">http-2: https://www.sustainabledevelopmentindex.org/</mixed-citation>
                    </ref>
                                    <ref id="ref33">
                        <label>33</label>
                        <mixed-citation publication-type="journal">http-3: https://data.worldbank.org/</mixed-citation>
                    </ref>
                            </ref-list>
                    </back>
    </article>
