Determinants of Carbon Emission: A Research in Environmental Performance Index Countries

Year 2023, CIRCULAR ECONOMY AND SUSTAINABILITY, 23 - 36, 05.01.2023

Ömer İskenderoğlu Sema Nur Ünlübulduk Erdinç Karadeniz

https://doi.org/10.51551/verimlilik.1058125

Cited By: 3

Abstract

Purpose: The aim of the study is to test whether foreign direct investment, economic growth, financial development and renewable energy consumption have an effect on carbon emissions, and if there is an effect, to determine the direction of this effect.

Methodology: In this study, panel data analysis was conducted on the data of 14 countries included in the Environmental Performance Index between 1990-2018.

Findings: It has been determined that economic growth, foreign direct investment and renewable energy consumption have negative and significant effects on carbon emissions. The finding that foreign direct investment reduces environmental degradation indicates the validity of the pollution halo hypothesis. It was determined that financial development did not have a significant relationship on carbon emissions.

Originality: Unlike other studies, this study differs from other studies in terms of associating it with the hypotheses in the theory. However, while there are studies on developing countries in the literature, studies on developed countries are quite limited. The countries within the scope of the study are different from other studies as they are the countries included in the Environmental Performance Index.

Keywords

Carbon Emission, Economic Growth, Financial Development, Foreign Direct Investments, Renewable Energy Consumption

Karbon Salınımının Belirleyicileri: Çevresel Performans Endeksi’ndeki Ülkelerde Bir Araştırma

Abstract

Amaç: Çalışmanın amacı, doğrudan yabancı sermaye yatırımlarının, ekonomik büyümenin, finansal gelişmenin ve yenilenebilir enerji tüketiminin karbon salınımı üzerinde etkisinin olup olmadığını test etmek ve eğer bir etki varsa bu etkinin yönünü belirlemektir.

Yöntem: Çalışmada Çevresel Performans Endeksi’nde yer alan 14 ülkenin 1990-2018 yılları arasındaki verileri üzerinde panel veri analizi gerçekleştirilmiştir.

Bulgular: Ekonomik büyüme, doğrudan yabancı sermaye yatırımları ve yenilenebilir enerji tüketiminin karbon salınımları üzerinde olumsuz ve önemli etkileri olduğu tespit edilmiştir. Doğrudan yabancı sermaye yatırımlarının çevresel bozulmayı azalttığı bulgusu, kirlilik halesi hipotezinin geçerliliğine işaret etmektedir. Finansal gelişmenin ise karbon salınımları üzerinde anlamlı bir ilişkisinin olmadığı saptanmıştır.

Özgünlük: Bu çalışma teoride yer alan hipotezlerle bağdaştırılması konusunda diğer çalışmalardan farklılık göstermektedir. Bununla birlikte, literatürde genellikle gelişmekte olan ülkeler üzerine çalışmalar yer alırken, gelişmiş ülkeler üzerinde yapılan çalışmalar oldukça sınırlıdır. Çalışmanın kapsamındaki ülkeler Çevresel Performans Endeksi’nde yer alan ülkeler olması bağlamında diğer çalışmalardan ayrışmaktadır.

Keywords

Karbon Salınımı, Ekonomik Büyüme, Finansal Gelişme, Doğrudan Yabancı Sermaye Yatırımları, Yenilenebilir Enerji Tüketimi

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