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DOĞRUDAN YABANCI SERMAYE YATIRIMLARININ KARBON EMİSYONU ÜZERİNE ETKİSİ: BRICS-T ÜLKELERİ İÇİN PANEL VERİ ANALİZİ

Year 2025, Volume: 9 Issue: 2, 229 - 239, 30.09.2025
https://doi.org/10.31200/makuubd.1646293

Abstract

Bu çalışma, BRICS-T ülkelerinde doğrudan yabancı sermaye yatırımlarının (DYY) karbon emisyonları (CO2) üzerindeki etkisini incelemektedir. Küreselleşmenin hız kazandığı son yıllarda, özellikle gelişmekte olan ülkeler yabancı yatırımları teşvik ederek ekonomik büyümeyi hedeflemektedir. Ancak bu yatırımların çevresel sürdürülebilirlik üzerindeki etkisi belirsizdir. Çalışmada panel veri analizi yöntemi kullanılarak 2000-2020 dönemi incelenmiş ve DYY’nin CO₂ emisyonlarını artırdığı sonucuna ulaşılmıştır. Bu bulgu, özellikle “Kirlilik Cenneti Hipotezi” ile uyumlu olup, gelişmekte olan ülkelerin çevresel düzenlemelerinin yetersizliği nedeniyle daha fazla karbon emisyonuna yol açtığını göstermektedir. Politika önerileri kapsamında, çevresel düzenlemelerin güçlendirilmesi, yeşil teknoloji transferinin teşvik edilmesi ve sürdürülebilir yatırımların artırılması gerektiği vurgulanmaktadır.

References

  • Akçay, S., & Karasoy, A. (2018). The impact of foreign direct investments on CO₂ emissions: Evidence from Turkey. Journal of Environmental Economics, 45(3), 321-335.
  • Akın, Ç. (2014). Foreign direct investment and environmental pollution: Evidence from high-in come countries. Environmental Economics and Policy Studies, 16(2), 203-220.
  • Balıbey, M. (2015). The causal relationship between foreign direct investment, economic growth, and carbon emissions in Turkey. International Journal of Sustainable Development, 8(4), 112-126.
  • Baltagi, B. H., &Wu, P. X. (1999). Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory, 15(6), 814-823. https://doi.org/10.1017/S0266466699156020
  • Baltagi, B. H. (2008). Econometric analysis of panel data (4th ed.). Chichester, UK: John Wiley&Sons.
  • Blanco, L., Gonzalez, F., &Ruiz, I. (2011). The impact of foreign direct investment on environmental quality in Latin America. Applied Economics Letters, 18(5), 429-434.
  • Driscoll, J. C., &Kraay, A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80(4), 549–560.
  • Greene, W. H. (2012). Econometric analysis (7th ed.). Pearson.
  • Grimes, P., & Kentor, J. (2003). Exporting the greenhouse: Foreign capital penetration and CO₂ emissions 1980–1996. Journal of World-Systems Research, 9(2), 261–275. https://doi.org/10.5195/jwsr.2003.244
  • Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). New York, NY: McGraw-Hill/Irwin.
  • Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 46(6), 1251-1271. https://doi.org/10.2307/1913827
  • Hoechle, D. (2007). Robust standard errors for panel regressions with cross-section aldependence. Stata Journal, 7(3), 281–312.
  • Jorgenson, A. K. (2007). Foreign direct investment and theenvironment: An eco-structural approach. Social Problems, 54(3), 371–394. https://doi.org/10.1525/sp.2007.54.3.371
  • Kaya, H., Öztürk, İ., & Bilgin, M. (2017). The relation ship between foreign direct investment, trade openness, and carbon emissions in Turkey. Renewable and Sustainable Energy Reviews, 70, 1071-1080.
  • Kılıçarslan, B., & Dumrul, Y. (2017). Foreign direct investment and carbon emissions: New evidence fromTurkey. Journal of Economic Studies, 44(6), 1104-1123.
  • Kızılkaya, Ö. (2017). An empirical analysis of the relation ship between foreign direct investment and carbon emissions in Turkey. Environmental Science and Pollution Research, 24(9), 7615-7628.
  • Lee, J. W. (2013). The contribution of foreign direct investment to clean energy use, carbon emissions, and economic growth. EnergyPolicy, 55, 483-489. https://doi.org/10.1016/j.enpol.2012.12.039
  • Linh, D. H., & Lin, S. M. (2014). Foreign direct investment and CO₂ emissions: Evidence from Vietnam. Economic Modelling, 40, 58-66.
  • Mahmood, H., & Chaudhary, A. R. (2012). Foreign direct investment, energy consumption, and CO₂ emissions in Pakistan. Renewable and Sustainable Energy Reviews, 16(5), 2930-2937. https://doi.org/10.1016/j.rser.2012.02.045
  • Mutafoğlu, K. (2012). Foreign direct investment and carbon emissions: Evidence from Turkey. Economic Research-EkonomskaIstraživanja, 25(1), 175-190.
  • Öztürk, İ., & Öz, D. (2016). The impact of foreign direct investment on carbon emissions: Evidence fromTurkey. Journal of Cleaner Production, 131, 227-235.
  • Pazienza, P. (2015). The impact of foreign direct investment in the agricultural sector on carbon emissions: Evidence from OECD countries. Environmental Economics and Policy Studies, 17(1), 107-123.
  • Polat, B. (2015). The impact of foreign direct investment on CO₂ emissions in Turkey: A time series analysis. Energy & Environment, 26(7-8), 1211-1232.
  • Şengönül, A., &Koşaroğlu, S. (2018). Foreign direct investment and carbon emissions: A case study of Turkey. Environmental Science and Pollution Research, 25(22), 21855-21867.
  • Yanchun, Z. (2010). Foreign direct investment and environmental pollution: Evidence from China. China Economic Review, 21(3), 449-460. https://doi.org/10.1016/j.chieco.2010.04.001
  • Yang, M., Zhang, Y., & Zhou, J. (2008). Foreign direct investment and environmental pollution: The case of China. Ecological Economics, 68(5), 1323-1331.
  • Yaylalı, F., Bayat, T., & Arı, A. (2015). Foreign direct investment and carbonemissions: A panel cointegration analysis for Turkey. Environmental Economics, 6(1), 82-95.
  • Yerdelen, T. F. (2020). Panel veri ekonometrisi (5. baskı). Beta Yayınları.
  • Yılmaz, F., Doğan, B., & Yıldırım, D. Ç. (2017). The relationship between foreign direct investment and environmental pollution: Evidence from BRICS & MINT countries. Journal of Economic and Social Research, 19(2), 45-62.
  • Yılmazer, A., & Ersoy, E. (2009). The effects of foreign direct investment on environmental pollution: A comparativ eanalysis. Economic Systems, 33(2), 180-194.
  • Zeren, F. (2015). Foreign direct investment and environmental degradation: Evidence from developed countries. International Journal of Environmental Studies, 72(5), 789-804.

THE IMPACT OF FOREIGN DIRECT INVESTMENT ON CARBON EMISSIONS: PANEL DATA ANALYSIS FOR BRICS-T COUNTRIES

Year 2025, Volume: 9 Issue: 2, 229 - 239, 30.09.2025
https://doi.org/10.31200/makuubd.1646293

Abstract

This study examines the impact of foreign direct investment (FDI) on carbon emissions (CO₂) in BRICS-T countries. In recent years, as globalization has accelerated, developing countries in particular have sought to stimulate economic growth by encouraging foreign investment. However, the impact of these investments on environmental sustainability remains unclear. Using panel data analysis, the study examined the period from 2000 to 2020 and concluded that FDI increases CO₂ emissions. This finding is consistent with the “Pollution Paradise Hypothesis,” indicating that developing countries' inadequate environmental regulations lead to higher carbon emissions. Policy recommendations emphasize the need to strengthen environmental regulations, encourage green technology transfer, and increase sustainable investments.

References

  • Akçay, S., & Karasoy, A. (2018). The impact of foreign direct investments on CO₂ emissions: Evidence from Turkey. Journal of Environmental Economics, 45(3), 321-335.
  • Akın, Ç. (2014). Foreign direct investment and environmental pollution: Evidence from high-in come countries. Environmental Economics and Policy Studies, 16(2), 203-220.
  • Balıbey, M. (2015). The causal relationship between foreign direct investment, economic growth, and carbon emissions in Turkey. International Journal of Sustainable Development, 8(4), 112-126.
  • Baltagi, B. H., &Wu, P. X. (1999). Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory, 15(6), 814-823. https://doi.org/10.1017/S0266466699156020
  • Baltagi, B. H. (2008). Econometric analysis of panel data (4th ed.). Chichester, UK: John Wiley&Sons.
  • Blanco, L., Gonzalez, F., &Ruiz, I. (2011). The impact of foreign direct investment on environmental quality in Latin America. Applied Economics Letters, 18(5), 429-434.
  • Driscoll, J. C., &Kraay, A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80(4), 549–560.
  • Greene, W. H. (2012). Econometric analysis (7th ed.). Pearson.
  • Grimes, P., & Kentor, J. (2003). Exporting the greenhouse: Foreign capital penetration and CO₂ emissions 1980–1996. Journal of World-Systems Research, 9(2), 261–275. https://doi.org/10.5195/jwsr.2003.244
  • Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). New York, NY: McGraw-Hill/Irwin.
  • Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 46(6), 1251-1271. https://doi.org/10.2307/1913827
  • Hoechle, D. (2007). Robust standard errors for panel regressions with cross-section aldependence. Stata Journal, 7(3), 281–312.
  • Jorgenson, A. K. (2007). Foreign direct investment and theenvironment: An eco-structural approach. Social Problems, 54(3), 371–394. https://doi.org/10.1525/sp.2007.54.3.371
  • Kaya, H., Öztürk, İ., & Bilgin, M. (2017). The relation ship between foreign direct investment, trade openness, and carbon emissions in Turkey. Renewable and Sustainable Energy Reviews, 70, 1071-1080.
  • Kılıçarslan, B., & Dumrul, Y. (2017). Foreign direct investment and carbon emissions: New evidence fromTurkey. Journal of Economic Studies, 44(6), 1104-1123.
  • Kızılkaya, Ö. (2017). An empirical analysis of the relation ship between foreign direct investment and carbon emissions in Turkey. Environmental Science and Pollution Research, 24(9), 7615-7628.
  • Lee, J. W. (2013). The contribution of foreign direct investment to clean energy use, carbon emissions, and economic growth. EnergyPolicy, 55, 483-489. https://doi.org/10.1016/j.enpol.2012.12.039
  • Linh, D. H., & Lin, S. M. (2014). Foreign direct investment and CO₂ emissions: Evidence from Vietnam. Economic Modelling, 40, 58-66.
  • Mahmood, H., & Chaudhary, A. R. (2012). Foreign direct investment, energy consumption, and CO₂ emissions in Pakistan. Renewable and Sustainable Energy Reviews, 16(5), 2930-2937. https://doi.org/10.1016/j.rser.2012.02.045
  • Mutafoğlu, K. (2012). Foreign direct investment and carbon emissions: Evidence from Turkey. Economic Research-EkonomskaIstraživanja, 25(1), 175-190.
  • Öztürk, İ., & Öz, D. (2016). The impact of foreign direct investment on carbon emissions: Evidence fromTurkey. Journal of Cleaner Production, 131, 227-235.
  • Pazienza, P. (2015). The impact of foreign direct investment in the agricultural sector on carbon emissions: Evidence from OECD countries. Environmental Economics and Policy Studies, 17(1), 107-123.
  • Polat, B. (2015). The impact of foreign direct investment on CO₂ emissions in Turkey: A time series analysis. Energy & Environment, 26(7-8), 1211-1232.
  • Şengönül, A., &Koşaroğlu, S. (2018). Foreign direct investment and carbon emissions: A case study of Turkey. Environmental Science and Pollution Research, 25(22), 21855-21867.
  • Yanchun, Z. (2010). Foreign direct investment and environmental pollution: Evidence from China. China Economic Review, 21(3), 449-460. https://doi.org/10.1016/j.chieco.2010.04.001
  • Yang, M., Zhang, Y., & Zhou, J. (2008). Foreign direct investment and environmental pollution: The case of China. Ecological Economics, 68(5), 1323-1331.
  • Yaylalı, F., Bayat, T., & Arı, A. (2015). Foreign direct investment and carbonemissions: A panel cointegration analysis for Turkey. Environmental Economics, 6(1), 82-95.
  • Yerdelen, T. F. (2020). Panel veri ekonometrisi (5. baskı). Beta Yayınları.
  • Yılmaz, F., Doğan, B., & Yıldırım, D. Ç. (2017). The relationship between foreign direct investment and environmental pollution: Evidence from BRICS & MINT countries. Journal of Economic and Social Research, 19(2), 45-62.
  • Yılmazer, A., & Ersoy, E. (2009). The effects of foreign direct investment on environmental pollution: A comparativ eanalysis. Economic Systems, 33(2), 180-194.
  • Zeren, F. (2015). Foreign direct investment and environmental degradation: Evidence from developed countries. International Journal of Environmental Studies, 72(5), 789-804.
There are 31 citations in total.

Details

Primary Language Turkish
Subjects Macroeconomics (Other)
Journal Section Articles
Authors

Tuğba Konuk 0000-0002-7381-4131

Early Pub Date October 1, 2025
Publication Date September 30, 2025
Submission Date February 24, 2025
Acceptance Date September 25, 2025
Published in Issue Year 2025 Volume: 9 Issue: 2

Cite

APA Konuk, T. (2025). DOĞRUDAN YABANCI SERMAYE YATIRIMLARININ KARBON EMİSYONU ÜZERİNE ETKİSİ: BRICS-T ÜLKELERİ İÇİN PANEL VERİ ANALİZİ. Mehmet Akif Ersoy Üniversitesi Uygulamalı Bilimler Dergisi, 9(2), 229-239. https://doi.org/10.31200/makuubd.1646293


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