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Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi

Year 2022, Volume: 17 Issue: 66, 658 - 671, 30.04.2022
https://doi.org/10.19168/jyasar.1075187

Abstract

Enerji verimliliğinin sağlanması hükümet, reel sektör ve akademik kesim ekseninde önem arz eden bir konu haline gelmiş, enerji verimliliğinin artırılması, gelişmiş ve gelişmekte olan ekonomilerde iklim değişikliğiyle başa çıkmanın ve karbon emisyonlarını azaltmanın en etkili yollarından biri olarak kabul edilmeye başlamıştır. Daha fazla çıktı, daha az girdi stratejilerinin sadece yatırımların teknolojik alt yapılara yönlendirmesi neticesinde sağlanabileceği de su götürmez bir gerçek olarak göze çarpmaktadır. Bu durum çerçevesinde kaynakların etkin kullanılması ve bu sayede enerji verimliliğinin arttırılmasına yönelik çeşitli faaliyetler ancak teknolojik yatırımlara önemli düzeyde destek olabilecek finansal gelişmişlik ile birlikte sağlanabilir. Söz konusu çalışmada da enerji verimliliği ve finansal gelişmişlik arasında bir nedensellik ilişkisinin olup olmadığı test edilmesi amaçlanmaktadır. 32 Avrupa ülkesinin (finansal gelişmişlik endeksi ve enerji verimliliği endeksinin 1998 ile 2017 tarihleri arasındaki yıllık verileri kullanılmıştır. Emirmahmutoğlu ve Köse (2011) panel nedensellik analizinin kullanıldığı çalışmada elde edilen bulgular panelin geneli için Finansal gelişmişlik ile enerji verimliliği arasında çift yönlü nedensellik ilişkisinin söz konusu olduğuna işaret etmektedir. Analize dâhil edilen ülkelerin özeline bakıldığında ise enerji verimliliğinden finansal gelişmişliğe doğru nedenselliğin Finlandiya, Fransa, Kıbrıs Rum Kesimi, Hırvatistan, İsveç, İtalya, İzlanda, Letonya, Litvanya, Lüksemburg, Macaristan ve Norveç için geçerli olduğu tespit edilmiştir. Finansal gelişmişlikten enerji verimliliğine doğru nedenselliğin ise İsveç, İtalya, Polonya, Portekiz, Romanya, Slovakya ve Yunanistan için geçerli olduğu görülmektedir.

References

  • Ahmed, K. (2017). Revisiting the role of financial development for energy-growth-trade nexus in BRICS economies. Energy, 128, 487-495.
  • Ahmed, S. M., & Ansari, M. I. (1998). Financial sector development and economic growth: The South-Asian experience. Journal of Asian Economics, 9(3), 503-517.
  • Al-Yousif, Y. K. (2002). Financial development and economic growth: another look at the evidence from developing countries. Review of financial economics, 11(2), 131-150.
  • Anton, S. G. and Nucu, A. E. A. (2020). The effect of financial development on renewable energy consumption. A panel data approach. Renewable Energy, 147, 330-338.
  • Aslan, Ö. ve Korap, L. H. (2006) “Türkiye’de Finansal Gelişme Ekonomik Büyüme İlişkisi”, Muğla Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17(Güz): 1-20.
  • Ayad, H. & Belmokaddem, M. (2017). Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach. Theoretical and Applied Economics, 1(1610), 233-246.
  • BAĞCI, H. (2018). FİNANSAL GELİŞMİŞLİK ENDEKSİ OLUŞTURULMASI: OECD ÜLKELERİNDE BİR UYGULAMA. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(1), 238-254.
  • Birdsall, N., & Wheeler, D. (1993). Trade policy and industrial pollution in Latin America: where are the pollution havens?. The Journal of Environment & Development, 2(1), 137-149.
  • Bozoklu, Ş., & Yılancı, V. (2013). Finansal Gelişme ve İktisadi Büyüme Arasindaki Nedensellik İlişkisi: Gelişmekte Olan Ekonomiler İçin Analiz. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, 28(2), 161-187.
  • Chang, S. C. (2015). Effects of financial developments and income on energy consumption. International Review of Economics & Finance, 35, 28-44.
  • Chang, T., & Caudill*, S. B. (2005). Financial development and economic growth: the case of Taiwan. Applied economics, 37(12), 1329-1335.
  • Claessens, S., & Feijen, E. (2007). Financial sector development and the millennium development goals (No. 89). World Bank Publications.
  • Çağlan, E. & Çeli̇k, Ş. (2018). Türkiye’de finansal gelişmişlik ve ekonomik büyüme arasındaki ilişki: sistematik bir tarama. İzmir Katip Çelebi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 1(1), 25-41.
  • Dasgupta, S., Hong, J. H., Laplante, B., & Mamingi, N. (2006). Disclosure of environmental violations and stock market in the Republic of Korea. Ecological economics, 58(4), 759-777.
  • Dasgupta, S., Laplante, B., & Mamingi, N. (2001). Pollution and capital markets in developing countries. Journal of Environmental Economics and management, 42(3), 310-335.
  • De Hoyos, R. E., & Sarafidis, V. (2006). Testing for cross-sectional dependence in panel-data models. The stata journal, 6(4), 482-496.
  • Doğan, E. ve Doğan, B.Ö. (2021). Finansal gelişme ve inovasyon, Türkiye’de yenilenebilir enerji üretimini artırıyor mu? Turkish Studies - Economy, 16(2), 783-797.
  • Dritsakis, N., & Adamopoulos, A. (2004). Financial development and economic growth in Greece: An empirical investigation with Granger causality analysis. International Economic Journal, 18(4), 547-559.
  • Emirmahmutoğlu, F., Köse, N. (2011), Testing for granger causality in heterogeneous mixed panels, Economic Modelling, 28(3), 870-876.
  • Eren, B. M., Taspinar, N. and Gokmenoglu, K. K. (2019). The impact of financial development and economic growth on renewable energy consumption: Empirical analysis of India. Science of the Total Environment, 663, 189-197.
  • Eurostat, Database, Energy Effiency, https://ec.europa.eu/eurostat/databrowser/view/nrg_ind_eff/default/table?lang=en, Erişim Tarihi 05.06.202.
  • Fangmin, L. and Jun, W. (2011). Financial system and renewable energy development: Analysis based on different types of renewable energy situation. Energy Procedia, 5, 829-833.
  • Fisher, R.A. (1932), Statistical methods for research workers, (4. Edition), Edinburgh: Oliver and Boyd
  • Frankel, J. A., & Romer, D. H. (1999). Does trade cause growth?. American economic review, 89(3), 379-399.
  • Ganda, F., & Ngwakwe, C. C. (2014). Role of energy efficiency on sustainable development. Environmental Economics, 5(1), 86-99.
  • IMF, Financial Development Index Database, https://data.imf.org/?sk=F8032E80-B36C-43B1-AC26-493C5B1CD33B, Erişim Tarihi 05.06.2021
  • Jalil, A., & Feridun, M. (2011). The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy economics, 33(2), 284-291.
  • Jensen, V. (1996). The pollution haven hypothesis and the industrial flight hypothesis: some perspectives on theory and empirics. Cent Dev Environ Work Pap, 19965.
  • Ji, Q. and Zhang, D. (2019). How much does financial development contribute to renewable energy growth and upgrading of energy structure in China? Energy Policy, 128, 114-124.
  • Jiang, L., Zhou, H., & He, S. (2021). Does energy efficiency increase at the expense of output performance: Evidence from manufacturing firms in Jiangsu province, China. Energy, 220, 119704.
  • Kar, M., Nazlıoğlu, Ş., & Ağır, H. (2011). Financial Development and Economic Growth Nexus in the MENA Countries: Bootstrap Panel Granger Causality Analysis. Economic Modelling, 28(1-2), 685-693.
  • Keskin, N., & Karşıyakalı, B. (2010). Finansal gelişme ve ekonomik büyüme ilişkisi: Türkiye Örneği. Finans Politik ve Ekonomik Yorumlar Dergisi, 47(548), 76-94.
  • Kim, J. and Park, K. (2018). Financial development and deployment of renewable energy technologies. Energy Economics, 59, 238-250.
  • King, R. G. & Levine, R. (1993). Finance and growth: Schumpeter might be right. Quarterly Journal of Economics, 108(3), 717-737.
  • Komal, R. & Abbas, F. (2015), Linking financial development, economic growth and energy consumption in Pakistan. Renewable and Sustainable Energy Reviews, 44: 211-220.
  • Kurt, G., Köse, A. (2017), Türkiye’de bankalarin finansal oranlari ile hisse senedi getirisi arasindaki panel nedensellik ilişkisi, Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 26(3), 302-312.
  • Lanoie, P., Laplante, B., & Roy, M. (1998). Can capital markets create incentives for pollution control?. Ecological Economics, 26(1), 31-41.
  • Li, K., Fang, L., & He, L. (2018). How urbanization affects China's energy efficiency: a spatial econometric analysis. Journal of Cleaner Production, 200, 1130-1141.
  • Luintel, K. B., & Khan, M. (1999). A quantitative reassessment of the finance–growth nexus: evidence from a multivariate VAR. Journal of development economics, 60(2), 381-405.
  • Menyah, K., Nazlioglu, S., & Wolde-Rufael, Y. (2014). Financial Development, Trade Openness and Economic Growth in African Countries: New Insights from a Panel Causality Approach. Economic Modelling, 37, 386-394.
  • Mercan, M. (2014). Feldstein-Horioka Hipotezinin AB-15 ve Türkiye Ekonomisi için Sınanması: Yatay Kesit Bağımlılığı Altında Yapısal Kırılmalı Dinamik Panel Veri Analizi. Ege Academic Review, 14(2), 231-245.
  • Mielnik, O. & Goldemberg, J. (2002). Foreign direct investment and decoupling between energy and gross domestic product in developing countries. Energy Policy, 30: 87–89.
  • Mills, E. F. E. A., Dong, J., Yiling, L., Baafi, M. A., Li, B., & Zeng, K. (2021). Towards sustainable competitiveness: How does financial development affect dynamic energy efficiency in Belt & Road economies?. Sustainable Production and Consumption, 27, 587-601.
  • Murinde, V., & Eng, F. S. (1994). Financial development and economic growth in Singapore: demand-following or supply-leading?. Applied Financial Economics, 4(6), 391-404.
  • Omri, A. & Kahouli, B. (2014). Causal relationships between energy consumption, foreign direct investment and economic growth: Fresh evidence from dynamic simultaneous-equations models. Energy Policy, 67: 913-922.
  • Pata U. K. & Ağca A. (2018). Finansal Gelişme ve Ekonomik Büyüme Arasındaki Eşbütünleşme ve Nedensellik İlişkisi: Türkiye Örneği. Osmaniye Korkut Ata Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt:2, Sayı:2, 115-128.
  • Pesaran, H., M., (2007). A Simple Panel Unitroot Test in the Presence Of Cross-Section Dependence. Journal of Applied Economics, 22, 265-312.
  • Pesaran, M.H. (2004), General Diagnostic Tests forCross Section Dependence in Panels. Cambridge Working Papers in Economics, No:435.
  • Pesaran, M.H. ve Yamagata, T. (2008) “Testing Slope Homogeneity in Large Panels” Journal of Econometrics, 142(1):50-93.
  • Raddatz, C. (2006). Liquidity needs and vulnerability to financial underdevelopment. Journal of financial economics, 80(3), 677-722.
  • Sadorsky, P. (2010). The impact of financial development on energy consumption in emerging economies. Energy Policy, 38: 2528–2535.
  • Sadorsky, P. (2011). Financial development and energy consumption in Central and Eastern European frontier economies. Energy Policy, 39: 999–1006.
  • Safi, A., Chen, Y., Wahab, S., Ali, S., Yi, X., & Imran, M. (2021). Financial instability and consumption-based carbon emission in E-7 countries: The role of trade and economic growth. Sustainable Production and Consumption, 27, 383-391.
  • Schumpeter, J. A. (1911). The Theory of Economic Development, Cambridge: Harvard University Press.
  • Sheng, P., He, Y., & Guo, X. (2017). The impact of urbanization on energy consumption and efficiency. Energy & Environment, 28(7), 673-686.
  • Svirydzenka, K. (2016). Introducing a New Broad-based Index of Financial Development, IMF Working Paper WP/16/5, 1-42.
  • Tadesse, S. A. (2005). Financial development and technology. Available at SSRN 681562.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy economics, 32(1), 137-145.
  • Tamazian, A., Chousa, J. P. &Vadlamannati, K. C. (2009). Does higher economic and financial development lead to environmental degradation: Evidence from BRIC countries. Energy Policy, 37 (1): 246–253.
  • Tang, C. F. & Tan, B. W. (2014). The linkages among energy consumption, economic growth, relative price, foreign direct investment, and financial development in Malaysia. Quality and Quantity, 48 (2): 781–797.
  • Tunalı H., & Onuk, P. (2017). Finansal Gelişme Ve Ekonomik Büyüme Arasındaki Nedensellik İlişkisi: Türkiye Örneği. Journal of Economic Policy Researches, 4(1), 1-15.
  • Türkoğlu, S. P., & Kardoğan, P. S. Ö. (2017, March). The role and importance of energy efficiency for sustainable development of the countries. In International sustainable buildings symposium (pp. 53-60). Springer, Cham.
  • Wang, J., Zhang, S. and Zhang, Q. (2021). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897-904.
  • Zakari, A., Khan, I., Tan, D., Alvarado, R., & Dagar, V. (2022). Energy efficiency and sustainable development goals (SDGs). Energy, 239, 122365.
  • Ziolo, M., Jednak, S., Savić, G., & Kragulj, D. (2020). Link between energy efficiency and sustainable economic and financial development in OECD countries. Energies, 13(22), 5898.
Year 2022, Volume: 17 Issue: 66, 658 - 671, 30.04.2022
https://doi.org/10.19168/jyasar.1075187

Abstract

References

  • Ahmed, K. (2017). Revisiting the role of financial development for energy-growth-trade nexus in BRICS economies. Energy, 128, 487-495.
  • Ahmed, S. M., & Ansari, M. I. (1998). Financial sector development and economic growth: The South-Asian experience. Journal of Asian Economics, 9(3), 503-517.
  • Al-Yousif, Y. K. (2002). Financial development and economic growth: another look at the evidence from developing countries. Review of financial economics, 11(2), 131-150.
  • Anton, S. G. and Nucu, A. E. A. (2020). The effect of financial development on renewable energy consumption. A panel data approach. Renewable Energy, 147, 330-338.
  • Aslan, Ö. ve Korap, L. H. (2006) “Türkiye’de Finansal Gelişme Ekonomik Büyüme İlişkisi”, Muğla Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17(Güz): 1-20.
  • Ayad, H. & Belmokaddem, M. (2017). Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach. Theoretical and Applied Economics, 1(1610), 233-246.
  • BAĞCI, H. (2018). FİNANSAL GELİŞMİŞLİK ENDEKSİ OLUŞTURULMASI: OECD ÜLKELERİNDE BİR UYGULAMA. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(1), 238-254.
  • Birdsall, N., & Wheeler, D. (1993). Trade policy and industrial pollution in Latin America: where are the pollution havens?. The Journal of Environment & Development, 2(1), 137-149.
  • Bozoklu, Ş., & Yılancı, V. (2013). Finansal Gelişme ve İktisadi Büyüme Arasindaki Nedensellik İlişkisi: Gelişmekte Olan Ekonomiler İçin Analiz. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, 28(2), 161-187.
  • Chang, S. C. (2015). Effects of financial developments and income on energy consumption. International Review of Economics & Finance, 35, 28-44.
  • Chang, T., & Caudill*, S. B. (2005). Financial development and economic growth: the case of Taiwan. Applied economics, 37(12), 1329-1335.
  • Claessens, S., & Feijen, E. (2007). Financial sector development and the millennium development goals (No. 89). World Bank Publications.
  • Çağlan, E. & Çeli̇k, Ş. (2018). Türkiye’de finansal gelişmişlik ve ekonomik büyüme arasındaki ilişki: sistematik bir tarama. İzmir Katip Çelebi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 1(1), 25-41.
  • Dasgupta, S., Hong, J. H., Laplante, B., & Mamingi, N. (2006). Disclosure of environmental violations and stock market in the Republic of Korea. Ecological economics, 58(4), 759-777.
  • Dasgupta, S., Laplante, B., & Mamingi, N. (2001). Pollution and capital markets in developing countries. Journal of Environmental Economics and management, 42(3), 310-335.
  • De Hoyos, R. E., & Sarafidis, V. (2006). Testing for cross-sectional dependence in panel-data models. The stata journal, 6(4), 482-496.
  • Doğan, E. ve Doğan, B.Ö. (2021). Finansal gelişme ve inovasyon, Türkiye’de yenilenebilir enerji üretimini artırıyor mu? Turkish Studies - Economy, 16(2), 783-797.
  • Dritsakis, N., & Adamopoulos, A. (2004). Financial development and economic growth in Greece: An empirical investigation with Granger causality analysis. International Economic Journal, 18(4), 547-559.
  • Emirmahmutoğlu, F., Köse, N. (2011), Testing for granger causality in heterogeneous mixed panels, Economic Modelling, 28(3), 870-876.
  • Eren, B. M., Taspinar, N. and Gokmenoglu, K. K. (2019). The impact of financial development and economic growth on renewable energy consumption: Empirical analysis of India. Science of the Total Environment, 663, 189-197.
  • Eurostat, Database, Energy Effiency, https://ec.europa.eu/eurostat/databrowser/view/nrg_ind_eff/default/table?lang=en, Erişim Tarihi 05.06.202.
  • Fangmin, L. and Jun, W. (2011). Financial system and renewable energy development: Analysis based on different types of renewable energy situation. Energy Procedia, 5, 829-833.
  • Fisher, R.A. (1932), Statistical methods for research workers, (4. Edition), Edinburgh: Oliver and Boyd
  • Frankel, J. A., & Romer, D. H. (1999). Does trade cause growth?. American economic review, 89(3), 379-399.
  • Ganda, F., & Ngwakwe, C. C. (2014). Role of energy efficiency on sustainable development. Environmental Economics, 5(1), 86-99.
  • IMF, Financial Development Index Database, https://data.imf.org/?sk=F8032E80-B36C-43B1-AC26-493C5B1CD33B, Erişim Tarihi 05.06.2021
  • Jalil, A., & Feridun, M. (2011). The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy economics, 33(2), 284-291.
  • Jensen, V. (1996). The pollution haven hypothesis and the industrial flight hypothesis: some perspectives on theory and empirics. Cent Dev Environ Work Pap, 19965.
  • Ji, Q. and Zhang, D. (2019). How much does financial development contribute to renewable energy growth and upgrading of energy structure in China? Energy Policy, 128, 114-124.
  • Jiang, L., Zhou, H., & He, S. (2021). Does energy efficiency increase at the expense of output performance: Evidence from manufacturing firms in Jiangsu province, China. Energy, 220, 119704.
  • Kar, M., Nazlıoğlu, Ş., & Ağır, H. (2011). Financial Development and Economic Growth Nexus in the MENA Countries: Bootstrap Panel Granger Causality Analysis. Economic Modelling, 28(1-2), 685-693.
  • Keskin, N., & Karşıyakalı, B. (2010). Finansal gelişme ve ekonomik büyüme ilişkisi: Türkiye Örneği. Finans Politik ve Ekonomik Yorumlar Dergisi, 47(548), 76-94.
  • Kim, J. and Park, K. (2018). Financial development and deployment of renewable energy technologies. Energy Economics, 59, 238-250.
  • King, R. G. & Levine, R. (1993). Finance and growth: Schumpeter might be right. Quarterly Journal of Economics, 108(3), 717-737.
  • Komal, R. & Abbas, F. (2015), Linking financial development, economic growth and energy consumption in Pakistan. Renewable and Sustainable Energy Reviews, 44: 211-220.
  • Kurt, G., Köse, A. (2017), Türkiye’de bankalarin finansal oranlari ile hisse senedi getirisi arasindaki panel nedensellik ilişkisi, Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 26(3), 302-312.
  • Lanoie, P., Laplante, B., & Roy, M. (1998). Can capital markets create incentives for pollution control?. Ecological Economics, 26(1), 31-41.
  • Li, K., Fang, L., & He, L. (2018). How urbanization affects China's energy efficiency: a spatial econometric analysis. Journal of Cleaner Production, 200, 1130-1141.
  • Luintel, K. B., & Khan, M. (1999). A quantitative reassessment of the finance–growth nexus: evidence from a multivariate VAR. Journal of development economics, 60(2), 381-405.
  • Menyah, K., Nazlioglu, S., & Wolde-Rufael, Y. (2014). Financial Development, Trade Openness and Economic Growth in African Countries: New Insights from a Panel Causality Approach. Economic Modelling, 37, 386-394.
  • Mercan, M. (2014). Feldstein-Horioka Hipotezinin AB-15 ve Türkiye Ekonomisi için Sınanması: Yatay Kesit Bağımlılığı Altında Yapısal Kırılmalı Dinamik Panel Veri Analizi. Ege Academic Review, 14(2), 231-245.
  • Mielnik, O. & Goldemberg, J. (2002). Foreign direct investment and decoupling between energy and gross domestic product in developing countries. Energy Policy, 30: 87–89.
  • Mills, E. F. E. A., Dong, J., Yiling, L., Baafi, M. A., Li, B., & Zeng, K. (2021). Towards sustainable competitiveness: How does financial development affect dynamic energy efficiency in Belt & Road economies?. Sustainable Production and Consumption, 27, 587-601.
  • Murinde, V., & Eng, F. S. (1994). Financial development and economic growth in Singapore: demand-following or supply-leading?. Applied Financial Economics, 4(6), 391-404.
  • Omri, A. & Kahouli, B. (2014). Causal relationships between energy consumption, foreign direct investment and economic growth: Fresh evidence from dynamic simultaneous-equations models. Energy Policy, 67: 913-922.
  • Pata U. K. & Ağca A. (2018). Finansal Gelişme ve Ekonomik Büyüme Arasındaki Eşbütünleşme ve Nedensellik İlişkisi: Türkiye Örneği. Osmaniye Korkut Ata Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt:2, Sayı:2, 115-128.
  • Pesaran, H., M., (2007). A Simple Panel Unitroot Test in the Presence Of Cross-Section Dependence. Journal of Applied Economics, 22, 265-312.
  • Pesaran, M.H. (2004), General Diagnostic Tests forCross Section Dependence in Panels. Cambridge Working Papers in Economics, No:435.
  • Pesaran, M.H. ve Yamagata, T. (2008) “Testing Slope Homogeneity in Large Panels” Journal of Econometrics, 142(1):50-93.
  • Raddatz, C. (2006). Liquidity needs and vulnerability to financial underdevelopment. Journal of financial economics, 80(3), 677-722.
  • Sadorsky, P. (2010). The impact of financial development on energy consumption in emerging economies. Energy Policy, 38: 2528–2535.
  • Sadorsky, P. (2011). Financial development and energy consumption in Central and Eastern European frontier economies. Energy Policy, 39: 999–1006.
  • Safi, A., Chen, Y., Wahab, S., Ali, S., Yi, X., & Imran, M. (2021). Financial instability and consumption-based carbon emission in E-7 countries: The role of trade and economic growth. Sustainable Production and Consumption, 27, 383-391.
  • Schumpeter, J. A. (1911). The Theory of Economic Development, Cambridge: Harvard University Press.
  • Sheng, P., He, Y., & Guo, X. (2017). The impact of urbanization on energy consumption and efficiency. Energy & Environment, 28(7), 673-686.
  • Svirydzenka, K. (2016). Introducing a New Broad-based Index of Financial Development, IMF Working Paper WP/16/5, 1-42.
  • Tadesse, S. A. (2005). Financial development and technology. Available at SSRN 681562.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy economics, 32(1), 137-145.
  • Tamazian, A., Chousa, J. P. &Vadlamannati, K. C. (2009). Does higher economic and financial development lead to environmental degradation: Evidence from BRIC countries. Energy Policy, 37 (1): 246–253.
  • Tang, C. F. & Tan, B. W. (2014). The linkages among energy consumption, economic growth, relative price, foreign direct investment, and financial development in Malaysia. Quality and Quantity, 48 (2): 781–797.
  • Tunalı H., & Onuk, P. (2017). Finansal Gelişme Ve Ekonomik Büyüme Arasındaki Nedensellik İlişkisi: Türkiye Örneği. Journal of Economic Policy Researches, 4(1), 1-15.
  • Türkoğlu, S. P., & Kardoğan, P. S. Ö. (2017, March). The role and importance of energy efficiency for sustainable development of the countries. In International sustainable buildings symposium (pp. 53-60). Springer, Cham.
  • Wang, J., Zhang, S. and Zhang, Q. (2021). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897-904.
  • Zakari, A., Khan, I., Tan, D., Alvarado, R., & Dagar, V. (2022). Energy efficiency and sustainable development goals (SDGs). Energy, 239, 122365.
  • Ziolo, M., Jednak, S., Savić, G., & Kragulj, D. (2020). Link between energy efficiency and sustainable economic and financial development in OECD countries. Energies, 13(22), 5898.
There are 65 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Hakan Yıldırım 0000-0002-3271-2841

Saffet Akdağ 0000-0001-9576-6786

Publication Date April 30, 2022
Published in Issue Year 2022 Volume: 17 Issue: 66

Cite

APA Yıldırım, H., & Akdağ, S. (2022). Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi, 17(66), 658-671. https://doi.org/10.19168/jyasar.1075187
AMA Yıldırım H, Akdağ S. Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi. April 2022;17(66):658-671. doi:10.19168/jyasar.1075187
Chicago Yıldırım, Hakan, and Saffet Akdağ. “Enerji Verimliliği Finansal Gelişmişliğin Nedeni Midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi”. Yaşar Üniversitesi E-Dergisi 17, no. 66 (April 2022): 658-71. https://doi.org/10.19168/jyasar.1075187.
EndNote Yıldırım H, Akdağ S (April 1, 2022) Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi 17 66 658–671.
IEEE H. Yıldırım and S. Akdağ, “Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi”, Yaşar Üniversitesi E-Dergisi, vol. 17, no. 66, pp. 658–671, 2022, doi: 10.19168/jyasar.1075187.
ISNAD Yıldırım, Hakan - Akdağ, Saffet. “Enerji Verimliliği Finansal Gelişmişliğin Nedeni Midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi”. Yaşar Üniversitesi E-Dergisi 17/66 (April 2022), 658-671. https://doi.org/10.19168/jyasar.1075187.
JAMA Yıldırım H, Akdağ S. Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi. 2022;17:658–671.
MLA Yıldırım, Hakan and Saffet Akdağ. “Enerji Verimliliği Finansal Gelişmişliğin Nedeni Midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi”. Yaşar Üniversitesi E-Dergisi, vol. 17, no. 66, 2022, pp. 658-71, doi:10.19168/jyasar.1075187.
Vancouver Yıldırım H, Akdağ S. Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi. 2022;17(66):658-71.