Foreign Direct Investment, Carbon Emission And Economic Growth in Turkey: A Data Driven Analysis

Abstract

Beyond the important role of foreign direct investments in the development of countries, the impact of foreign direct investment on energy consumption and its environmental consequences are also of interest in the literature. In this study, we empirically examine the causal patterns among foreign direct investment, CO₂ emissions, economic growth, and some other economic factors in Turkey for the period 1974 – 2014 using Directed Acyclic Graphs (DAGs). In doing so, we attempt to shed light on both the direct and indirect causation between these factors and reveal the environmental consequences of foreign direct investment. The resulting DAG patterns suggest that foreign direct investment has an indirect effect on CO₂ emissions through an intermediate variable, trade, whereas both carbon emissions and energy consumption follows economic growth. The DAGs pattern also signifies that pollution is a significant determinant of energy consumption and domestic investment which seems to be the direct cause of energy consumption. 

Keywords

• Foreign direct investment,CO2 emission

Türkiye’de Doğrudan Yabancı Yatırımlar, Karbon Emisyonu ve İktisadi Büyüme: Veriye Dayalı Bir Analiz

Öz

Doğrudan yabancı yatırımların ülkelerin kalkınmalarında oynadığı önemli rolün ötesinde, literatürde üzerinde sıkça durulan bir diğer konu ise, doğrudan yabancı yatırımların enerji tüketimi üzerindeki etkisi ve çevresel sonuçlarıdır. Bu çalışmada, 1974 – 2014 dönemi için Türkiye’de doğrudan yabancı yatırımlar, karbon emisyonu, enerji tüketimi, ekonomik büyüme ve bazı diğer ekonomik değişkenler arasındaki tümevarımlı nedensel çıkarım şablonları, Yönlendirilmiş Döngüsüz Graflar (DAGs) metodu kullanılarak incelenmiştir. Böylece bu değişkenler arasındaki dolaylı ve dolaysız nedenselliklerin ortaya çıkarılması ve doğrudan yabancı yatırımların çevresel sonuçlarının ortaya çıkarılması amaç edinilmiştir. Elde edilen DAGs şablonları, doğrudan yabancı yatırımların dolaylı olarak ticaret üzerinden karbon emisyonlarını tetiklediğini, karbon emisyonları ve enerji tüketiminin ise ekonomik büyümeyi takip ettiğini ortaya koymaktadır. DAG şablonları ayrıca, kirliliğin, enerji tüketimi ve çalışmada enerji tüketiminin doğrudan nedeni olduğu tespit edilen iç yatırımların önemli bir belirleyicisi olduğunu göstermektedir.

Anahtar Kelimeler

• Doğrudan yabancı yatırımlar,CO2 emisyonu

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