A novel perspective on environmental quality: Exploring load capacity factors through FDI inflows across diverse sectors - Empirical evidence from Türkiye

Öz

Climate change represents a severe threat not only to natural habitats but also to humankind in recent decades. Considering this, the underlying reasons for climate change have been extensively studied in the literature. It has been found that there is a positive relationship between economic activities and environmental degradation. As an essential component of economic activities, the effect of foreign direct investment (FDI) on environmental quality is a subject that has recently attracted researchers' attention. The existing studies focus on the impact of overall FDI inflows on environmental destruction; there are no studies considering the effect of FDI inflows in specific sectors on environmental quality. Within this context, the purpose of this study is to fill the gap and contribute to the literature by examining the effect of FDI flows into the primary, manufacturing, and service sectors on environmental degradation. This will be achieved by employing the Autoregressive Distributed Lag (ARDL) model over the period 1992-2018 in Türkiye. The outcomes of the study indicate that FDI flows in the service sector have a positive effect on environmental quality in both the short and long run in Türkiye. On the other hand, FDI in the manufacturing sector contributes to environmental degradation in both terms. Similarly, FDI flows into the primary sector have a reverse effect on environmental quality, but a significant effect in the short run has not been observed. Furthermore, this study also examines if there is a U-shaped relationship between income and the load capacity factor, termed the Load Capacity Curve (LCC) hypothesis. The results demonstrate that the validity of the LCC hypothesis is confirmed in Türkiye.

Anahtar Kelimeler

• Sectoral FDI inflows
• Load capacity factor
• Load capacity curve

Çevre kalitesine yeni bir bakış açısı: Farklı sektörlere gelen DYY’lerin yük kapasitesi faktörleri yoluyla incelenmesi - Türkiye'den ampirik kanıt

Öz

İklim değişikliği, son on yıllarda sadece doğal habitatlar için değil, insanlık için de ciddi bir tehdit oluşturmaktadır. Bu durum göz önüne alındığında, iklim değişikliğinin altında yatan nedenler literatürde kapsamlı bir şekilde incelenmiştir. Ekonomik faaliyetler ile çevresel bozulma arasında pozitif bir ilişki olduğu bulunmuştur. Ekonomik faaliyetlerin önemli bir bileşeni olarak, doğrudan yabancı yatırımın (DYY) çevre kalitesi üzerindeki etkisi son zamanlarda araştırmacıların ilgisini çekmektedir. Mevcut çalışmalar genel DYY girişlerinin çevresel tahribat üzerindeki etkisine odaklanmakta olup, sektörel bazda DYY girişlerinin çevre kalitesi üzerindeki etkisini inceleyen bir çalışma bulunmamaktadır. Bu bağlamda, bu çalışmanın amacı söz konusu boşluğu doldurarak birincil, imalat ve hizmet sektörlerine gelen DYY akışlarının çevresel bozulma üzerindeki etkisini Türkiye için 1992-2018 dönemi boyunca Otoregresif Dağıtılmış Gecikme (ARDL) modelinin uygulayarak incelemektir. Çalışmanın sonuçları, Türkiye'de hizmet sektörüne yapılan DYY akışlarının hem kısa hem de uzun vadede çevre kalitesi üzerinde olumlu bir etki yarattığını göstermektedir. Öte yandan, imalat sektörüne yapılan DYY ise her iki dönemde de çevresel bozulmayı hızlandırdığı sonucuna ulaşılmıştır. Benzer şekilde, birincil sektöre yapılan DYY akışlarının çevre kalitesi üzerinde negatif etki yarattığı, ancak kısa dönemde anlamlı bir etkisinin olmadığı bulunmuştur. Ayrıca, bu çalışma gelir ile yük kapasitesi faktörü (LCF) arasındaki U şeklinde bir ilişki olup olmadığını, yük kapasitesi eğrisi (LCC) hipotezi çerçevesinde incelemiştir. Sonuçlar, LCC hipotezinin Türkiye'de geçerliliğini doğrulamaktadır.

Anahtar Kelimeler

• Sektörel DYY girişleri
• Yük kapasitesi faktörü
• Yük kapasitesi eğrisi

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