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FİNANSAL GELİŞME VE YEŞİL TEKNOLOJİK İNOVASYONLAR ÇEVRE KALİTESİNİ İYİLEŞTİRİYOR MU?

Year 2025, Issue: 41, 300 - 327, 30.05.2025
https://doi.org/10.20875/makusobed.1590606

Abstract

Bu çalışma, 2009-2021 yılları arasında 22 ülkede finansal gelişme ve yeşil teknolojik yeniliklerin çevresel kalite üzerindeki etkisini incelemektedir. Sistem Genelleştirilmiş Momentler Metodu (GMM) yöntemi kullanılarak, finansal gelişme, patent başvuruları, yenilenebilir enerji kullanımı, ticari açıklık ve ekonomik büyümenin CO2 emisyonları üzerindeki etkileri analiz edilmiştir. Bulgular, finansal gelişme, patent başvuruları, yenilenebilir enerji ve ticari açıklığın CO2 emisyonlarını önemli ölçüde azalttığını, ekonomik büyüme ve bilginin küreselleşmesinin ise emisyonları artırdığını göstermektedir. Çalışma, çevresel sürdürülebilirliği desteklemek için yeşil teknolojilerin ve yenilenebilir enerjinin teşvik edilmesinin önemini vurgulamaktadır. Finansal gelişme ve patent başvurularının çevresel kalite üzerindeki olumlu etkisi, çevre dostu politikaların gerekliliğini ortaya koymaktadır. Bu bulgular, sürdürülebilir ve çevre dostu bir gelecek için yeşil teknolojilerin ve finansal büyümenin desteklenmesinin kritik olduğunu göstermektedir.

References

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DO FINANCIAL DEVELOPMENT AND GREEN TECHNOLOGICAL INNOVATIONS IMPROVE ENVIRONMENTAL QUALITY?

Year 2025, Issue: 41, 300 - 327, 30.05.2025
https://doi.org/10.20875/makusobed.1590606

Abstract

This paper inquires the effects of financial development and green technological innovations on environmental quality between 2009-2021. For this purpose, the effects of financial development, informational globalization, renewable energy use, economic growth, trade openness and patent applications on CO2 emissions are analyzed using the System Generalized Method of Moments (GMM). The findings suggest that; while knowledge-based globalization and economic growth increase CO2, financial development, renewable energy, trade openness and patent applications significantly decrease it. Accordingly, promoting green technology and renewable energy is important for supporting environmental sustainability. Therefore, financial development and green technological innovation indicators will contribute to the support of environmental policies by positively affecting environmental quality.

References

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  • Ahmad, M., Jiang, P., Majeed, A. & Raza, M. Y. (2020). Does financial development and foreign direct investment improve environmental quality? Evidence from belt and road countries. Environmental Science and Pollution Research, 27(2020), 23586-23601. https://doi.org/10.1007/s11356-020-08748-7
  • Ahmad, M., Ahmed, Z., Yang, X., Hussain, N. & Sinha, A. (2022). Financial development and environmental degradation: Do human capital and institutional quality make a difference?. Gondwana Research, 105(2022), 299-310. https://doi.org/10.1016/j.gr.2021.09.012
  • Al-Mulali, U., Öztürk, I. & Lean, H. H. (2015). The influence of economic growth, urbanization, trade openness, financial development, and renewable energy on pollution in Europe. Natural Hazards, 79(2015), 621-644. https://doi.org/10.1007/s11069-015-1865-9
  • Aluko, O. A. & Obalade, A. A. (2020). Financial development and environmental quality in sub-Saharan Africa: Is there a technology effect?. Science of the Total Environment, 747(2020), 1-11. https://doi.org/10.1016/j.scitotenv.2020.141515
  • Andrew, A. A., Adebayo, T. S., Lasisi, T. T. & Muoneke, O. B. (2024). Moderating roles of technological innovation and economic complexity in financial development-environmental quality nexus of the BRICS economies. Technology in Society, 78(2024), 1-8. https://doi.org/10.1016/j.techsoc.2024.102581
  • Arellano, M. & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51. https://doi.org/10.1016/0304-4076(94)01642-D
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  • Atsu, F., Adams, S. & Adjei, J. (2021). ICT, energy consumption, financial development, and environmental degradation in South Africa. Heliyon, 7(2021), 1-10. https://doi.org/10.1016/j.heliyon.2021.e07328
  • Baloch, M. A., Zhang, J., Iqbal, K. & Iqbal, Z. (2019). The effect of financial development on ecological footprint in BRI countries: evidence from panel data estimation. Environmental Science and Pollution Research, 26(2019), 6199–6208. https://doi.org/10.1007/s11356-018-3992-9
  • Boutabba, M. A. (2014). The impact of financial development, income, energy and trade on carbon emissions: evidence from the Indian economy. Economic Modelling, 40, 33-41. https://doi.org/10.1016/j.econmod.2014.03.005
  • Bruvoll, A. & Medin, H. (2003). Factors behind the environmental Kuznets curve. A decomposition of the changes in air pollution. Environmental and Resource Economics, 24, 27-48.
  • Carrión-Flores, C. E. & Innes, R. (2010). Environmental innovation and environmental performance. Journal of Environmental Economics and Management, 59(1), 27-42. https://doi.org/10.1016/j.jeem.2009.05.003
  • Charfeddine, L. & Khediri, K. B. (2016). Financial development and environmental quality in UAE: Cointegration with structural breaks. Renewable and Sustainable Energy Reviews, 55(2016), 1322–1335. https://doi.org/10.1016/j.rser.2015.07.059
  • Dar, J. A. & Asif, M. (2018). Does financial development improve environmental quality in Turkey? An application of endogenous structural breaks based cointegration approach. Management of Environmental
  • Quality: An International Journal, 29(2), 368-384. https://doi.org/10.1108/MEQ-02-2017-0021
  • Doğan, E. & Şeker, F. (2016). The influence of real output, renewable and non-renewable energy, trade and financial development on carbon emissions in the top renewable energy countries. Renewable and Sustainable Energy Reviews, 60, 1074-1085. https://doi.org/10.1016/j.rser.2016.02.006
  • Du, K., Li, P. & Yan, Z. (2019). Do green technology innovations contribute to carbon dioxide emission reduction? Empirical evidence from patent data. Technological Forecasting & Social Change, 146, 297–303. https://doi.org/10.1016/j.techfore.2019.06.010
  • Fang, Z., Gao, X. & Sun, C. (2020). Do financial development, urbanization and trade affect environmental quality? Evidence from China, Journal of Cleaner Production, 259(2020), 1-11. https://doi.org/10.1016/j.jclepro.2020.120892
  • Guo, Y., Xia, X., Zhang, S.ve Zhang, D. (2018). Environmental regulation, government R&D funding and green technology innovation: Evidence from China provincial data. Sustainability, 10(4), 1-21. https://doi.org/10.3390/su10040940
  • Hasan, M. M. & Du, F. (2023). Nexus between green financial development, green technological innovation and environmental regulation in China. Renewable Energy, 204, 218-228. https://doi.org/10.1016/j.renene.2022.12.095
  • Hashmi, R. & Alam, K. (2019). Dynamic relationship among environmental regulation, innovation, co2 emissions, population, and economic growth in OECD countries: A panel investigation. Journal of Cleaner Production, 231, 1100-1109. https://doi.org/10.1016/j.jclepro.2019.05.325
  • Ibrahiem, D. M. (2020). Do technological innovations and financial development improve environmental quality in Egypt?. Environmental Science and Pollution Research, 27(10), 10869-10881. https://doi.org/10.1007/s11356-019-07585-7
  • Ibrahim, M.ve Vo, X. V. (2021). Exploring the relationships among innovation, financial sector development and environmental pollution in selected industrialized countries. Journal of Environmental Management, 284(2021), 1-15. https://doi.org/10.1016/j.jenvman.2021.112057
  • Javid, M. & Sharif, F. (2016). Environmental Kuznets Curve and financial development in Pakistan. Renewable and Sustainable Energy Reviews, 54, 406-414. https://doi.org/10.1016/j.rser.2015.10.019
  • Jiang, Q., Rahman, Z. U., Zhang, X., Guo, Z. & Xie, Q. (2022). An assessment of the impact of natural resources, energy, institutional quality, and financial development on CO2 emissions: Evidence from the B&R nations. Resources Policy, 76(2022), 1-9. https://doi.org/10.1016/j.resourpol.2022.102716
  • Karşıyakalı, B., Aydın, Ü. & Şanlısoy, S. (2024). The causal relationship between environmental taxes for sustainable development and greenhouse gas emissions (co2): A case study of Türkiye. Trakya Üniversitesi İktisadi ve İdari Bilimler Fakültesi E-Dergi, 13(1), 82-100. https://doi.org/10.47934/tife.13.01.06
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There are 67 citations in total.

Details

Primary Language English
Subjects Panel Data Analysis
Journal Section Research Articles
Authors

Zekiye Örtlek 0000-0003-0547-3782

Munise Ilıkkan Özgür 0000-0002-8711-3264

Early Pub Date May 29, 2025
Publication Date May 30, 2025
Submission Date November 24, 2024
Acceptance Date May 14, 2025
Published in Issue Year 2025 Issue: 41

Cite

APA Örtlek, Z., & Ilıkkan Özgür, M. (2025). DO FINANCIAL DEVELOPMENT AND GREEN TECHNOLOGICAL INNOVATIONS IMPROVE ENVIRONMENTAL QUALITY?. Mehmet Akif Ersoy University Journal of Social Sciences Institute(41), 300-327. https://doi.org/10.20875/makusobed.1590606