Climate Change-Trade Openness- Financial Depth Index-Economic Growth Nexus: A Study of G-20

Year 2024, Volume: 11 Issue: 2, 325 - 348, 01.07.2024

Burçin Çakır Gündoğdu Hakan Kahyaoğlu

https://doi.org/10.17541/optimum.1416719

Abstract

This study examines the impact of climate change, which is seen as an environmental problem but has the power to affect the economic and financial structure, of trade openness, economic growth, and depth of financial markets in G-20 countries between 1980 and 2020. It has been concluded that the variables can be used as a policy tool in this context, where the development of trade openness and financial depth in the G-20 countries, which account for 80% of global trade, has the effect of reducing climate change by creating environmentally friendly economic growth. Panel Var and Holtz-Eakin, Newey, and Rosen GMM Estimator method were used in the study. In addition, it has been determined that action-response functions have an effect on the variables in the face of a shock to the carbon dioxide emission variable.

Keywords

Climate Change, Trade Openness, Financial Depth Index

İklim Değişikliği-Ticari Açıklık-Finansal Derinlik-Ekonomik Büyüme İlişkisi: G-20 Üzerine Bir Çalışma

Abstract

Bu çalışmada, bir çevre sorunu olarak görülen ancak ekonomik ve finansal yapıyı etkileme gücüne sahip olan iklim değişikliğinin, 1980-2020 yılları arasında G-20 ülkelerinde ticari açıklık, ekonomik büyüme ve finansal piyasaların derinliği üzerindeki etkisi incelenmiştir. Küresel ticaretin %80'ini gerçekleştiren G-20 ülkelerinde ticari açıklık ve finansal derinliğin geliştirilmesinin, çevre dostu ekonomik büyüme yaratarak iklim değişikliğini azaltıcı etkiye sahip olduğu bu bağlamda değişkenlerin bir politika aracı olarak kullanılabileceği sonucuna varılmıştır. Çalışmada Panel Var ve Holtz-Eakin, Newey ve Rosen GMM Tahmincisi yöntemi kullanılmıştır. Ayrıca karbondioksit emisyonu değişkenine gelen bir şok karşısında etki-tepki fonksiyonlarının değişkenler üzerinde etkili olduğu tespit edilmiştir.

Keywords

İklim Değişikliği, Finansal Derinlik Endeksi, Ticari Açıklık

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