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Environmental Impacts of Digitalization, Financial Development and Urbanization: Moment Quantile Regression Analysis on EU-15 Countries

Yıl 2026, Cilt: 11 Sayı: 1, 29 - 65, 28.02.2026
https://doi.org/10.25229/beta.1655936
https://izlik.org/JA47JD49KM

Öz

The relationship between the factors affecting economic and social change and the environment has emerged as an important paradigm for sustainability. In this context, this study examines the effects of digitalization, urbanization, financial development, and economic growth on CO2 emissions in the sample of EU-15 countries for the period between 2003 and 2019. Cross-sectional dependency, slope homogeneity, stationarity, cointegration, panel quantile regression, and panel causality tests were applied in the study. According to the panel quantile regression results obtained, it is found that increases in digitalization, urbanization, and financial development reduce environmental degradation by reducing CO2 emissions, while increases in economic growth increase environmental degradation. In addition, according to the panel causality test results, it is concluded that CO2 emissions have a bidirectional causality relationship with digitalization and urbanization and a unidirectional causality relationship with financial development and economic growth. In this context, digitalization, urbanization and financial development should be encouraged to support sustainable development policies.

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Dijitalleşme, Finansal Gelişme ve Kentleşmenin Çevresel Etkileri: AB-15 Ülkeleri Üzerine Moment Kantil Regresyon Analizi

Yıl 2026, Cilt: 11 Sayı: 1, 29 - 65, 28.02.2026
https://doi.org/10.25229/beta.1655936
https://izlik.org/JA47JD49KM

Öz

Ekonomik ve toplumsal değişimi etkileyen faktörler ile çevre arasındaki ilişki sürdürülebilirlik açısından önemli bir paradigma olarak karşımıza çıkmaktadır. Bu kapsamda, bu çalışmada dijitalleşme, kentleşme, finansal gelişme ve ekonomik büyümenin CO2 emisyonları üzerindeki etkisi 2003-2019 yılları arasını kapsayan dönem için AB-15 ülkeleri örnekleminde incelenmektedir. Çalışmada yatay kesit bağımlılığı, eğim homojenliği, durağanlık, eşbütünleşme, panel kantil regresyonu ve panel nedensellik testleri uygulanmıştır. Elde edilen panel kantil regresyon sonuçlarına göre dijitalleşmede, kentleşme ve finansal gelişmede meydana gelen artışların CO2 emisyonlarını azaltarak çevresel bozulmayı azalttığı, ekonomik büyüme artışının ise çevresel bozulmayı artırdığı bulgularına ulaşılmaktadır. Ayrıca panel nedensellik testi sonuçlarına göre CO2 emisyonlarının dijitalleşme ve kentleşme ile çift yönlü, finansal gelişme ve ekonomik büyüme ile ise tek yönlü bir nedensellik ilişkisi olduğu sonucuna ulaşılmaktadır. Bu sonuçlar, finansal gelişme, kentleşme ve dijitalleşmenin çevresel sürdürülebilirlik üzerindeki olumlu etkilerini göstererek literatüre önemli bir katkıda bulunmaktadır. Bu bağlamda dijitalleşme, kentleşme ve finansal gelişmenin sürdürülebilir kalkınma politikalarının desteklenmesi konusunda teşvik edilmesi gerekmektedir.

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  • Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin Economics Statistics, 69(6), 709–748.
  • Wu, L., Wan, X., Jahanger, A., Li, M., Murshed, M., & Lorente, D. (2023). Does the digital economy reduce air pollution in China? A perspective from industrial agglomeration. Energy Reports, 9. https://doi.org/10.1016/j.egyr.2023.02.031
  • Xie, J., Ahmed, Z., Zhang, P., Khan, S., & Alvarado, R. (2023). Financial expansion and CO2 mitigation in top twenty emitters: Investigating the direct and moderating effects of the digital economy. Gondwana Research, 125, 1. https://doi.org/10.1016/j.gr.2023.07.013
  • Xie, P., & Jamaani, F. (2022). Does green innovation, energy productivity and environmental taxes limit carbon emissions in developed economies: Implications for sustainable development. Structural Change and Economic Dynamics, 63, 66-78. https://doi.org/10.1016/j.strueco.2022.09.002
  • Xie, Q., Adebayo, T. S., Irfan, M., & Altuntaş, M., (2022). Race to environmental sustainability: Can renewable energy consumption and technological innovation sustain the strides for China?. Renewable Energy, 197, 320-330. https://doi.org/10.1016/j.renene.2022.07.138
  • Yan, J., Zhao, R., & Qin, G. (2024). How does digital finance reduce carbon emissions intensity? Evidence from chain mediation effect of production technology innovation and green technology innovation. Heliyon, 10(9). https://doi.org/10.1016/j.heliyon.2024.e30155
  • Yang, Rui & Chen, Bing & Wu, Jing. (2023). Does digital economy curb carbon intensity? New insights from China. Environmental Science and Pollution Research, 30. 1-12. https://doi.org/10.1007/s11356-023-30767-3
  • Yin, W., Kirkulak-Uludag, B., & Zhang, S. (2018). Is financial development in China green? Evidence from city level data. Journal of Cleaner Production, 211, 247. https://doi.org/10.1016/j.jclepro.2018.11.106
  • Yuan, D., & Yang, Y. (2023). The influence of digital development on China’s carbon emission efficiency: In the view of economic and environmental balance. Frontiers in Environmental Science, 11. https://doi.org/10.3389/fenvs.2023.1075890
  • Yuxiang, K., & Chen, Z. (2010). Financial development and environmental performance: evidence from China. Environment and Development Economics, 16(1), 93. https://doi.org/10.1017/s1355770x10000422
  • Zafar, M. W., Saud, S., & Hou, F. (2019). The impact of globalization and financial development on environmental quality: evidence from selected countries in the Organization for Economic Co-operation and Development (OECD). Environmental Science and Pollution Research International, 26(13), 13246–13262. https://doi.org/10.1007/s11356-019-04761-7
  • Zhang, H., Chen, T., & Yu, Y. (2023). From finance to sustainability: Understanding the financial development-environment nexus with the environmental Kuznets curve in East-Asia and Pacific economies. Borsa Istanbul Review, 23(6), 1448-1457. https://doi.org/10.1016/j.bir.2023.10.003
  • Zhang, X., Chen, Y. & Wang, T. (2024). Digital economy, co2 emissions and china's environmental sustainable development— An analysis based on TVP-VAR model. Economic Analysis and Policy, 84. https://doi.org/10.1016/j.eap.2024.11.009
  • Zhang, X., Song, X., Lu, J., & Liu, F., (2022). How financial development and digital trade affect ecological sustainability: the role of renewable energy using an advanced panel in G-7 Countries. Renewable Energy, https://doi.org/10.1016/j.renene.2022.09.028.
  • Zhao, D., Lin, J. C., & Bashir, M. A. (2024). Analyze the effect of energy efficiency, natural resources, and the digital economy on ecological footprint in OCED countries: The mediating role of renewable energy. Resources Policy, 95, 105198. https://doi.org/10.1016/j.resourpol.2024.105198.
  • Zhu, Q., Xu, C., Wu, L., Fang, X., Pan, Y., & Zhou, D. (2025). Enhancing sustainability: Assessing the low-carbon impact of China’s digital economy on residential carbon emissions.
Toplam 109 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Ekolojik İktisat, Makro İktisat (Diğer), Çevre Ekonomisi, Yeşil Ekonomi
Bölüm Araştırma Makalesi
Yazarlar

Aykut Yağlıkara 0000-0001-6728-2477

Gönderilme Tarihi 11 Mart 2025
Kabul Tarihi 22 Ekim 2025
Yayımlanma Tarihi 28 Şubat 2026
DOI https://doi.org/10.25229/beta.1655936
IZ https://izlik.org/JA47JD49KM
Yayımlandığı Sayı Yıl 2026 Cilt: 11 Sayı: 1

Kaynak Göster

APA Yağlıkara, A. (2026). Dijitalleşme, Finansal Gelişme ve Kentleşmenin Çevresel Etkileri: AB-15 Ülkeleri Üzerine Moment Kantil Regresyon Analizi. Bulletin of Economic Theory and Analysis, 11(1), 29-65. https://doi.org/10.25229/beta.1655936

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