Pollution Haven Hypothesis: A Dynamic Panel Data Analysis for BRIC and MIST Countries

Öz

Developing countries are trying to create attractive opportunities for new investments with the aim of faster economic growth. In such countries where the primary goal is economic growth, environmental factors may remain in the background compared to developed countries. Some of developing countries become pollution haven for pollution intense industries due to relatively flexible environmental policies compared to developed countries. In this study, the validity of the pollution haven hypothesis was investigated for Brazil, Russia, India, China (BRIC) and Mexico, Indonesia, South Korea, Turkey (MIST). The relationship between per capita carbon dioxide emissions, exports, foreign direct investment inflows, per capita GDP and Environmental Policy Stringency Index for the period 1990-2015 was investigated using generalized methods of moments. This paper includes two models for investigating the pollution effect of variables; According to the findings of the first model, foreign direct investments and GDP per capita increase carbon dioxide emission in BRIC and MIST countries and there is an inverse relationship between the square of GDP per capita and carbon dioxide emission. According to the findings of the second model, the tightening of the environmental policy reduces the foreign direct investment inflows.

Anahtar Kelimeler

• Pollution haven hypothesis
• foreign direct investment
• environmental Kuznets curve
• developing countries
• panel data analysis

Kirlilik Sığınağı Hipotezi: BRIC ve MIST Ülkeleri için Dinamik Panel Veri Analizi

Öz

Gelişmekte olan ülkeler daha hızlı ekonomik büyüme amacıyla yeni yatırımlara yönelik cazip imkânlar oluşturmaya çalışmaktadır. Birincil amacın ekonomik büyüme olduğu bu gibi ülkelerde çevresel faktörler gelişmiş ülkelere göre arka planda kalabilmektedir. Gelişmekte olan bazı ülkeler, gelişmiş ülkelere kıyasla nispeten esnek çevre politikaları nedeniyle kirlilik yoğun endüstriler için kirlilik sığınağı haline gelmektedir. Bu çalışmada Brezilya, Rusya, Hindistan, Çin (BRIC) ve Meksika, Endonezya, Güney Kore, Türkiye (MIST) ülkeleri için kirlilik sığınağı hipotezinin geçerliliği araştırılmıştır. 1990-2015 dönemine ait kişi başı karbondioksit emisyonu, ihracat, doğrudan yabancı yatırım girişi, kişi başına gayri safi yurtiçi hasıla ve Çevre Politikası Sıkılığı Endeksi verileri arasındaki ilişki genelleştirilmiş momentler metodu kullanılarak araştırılmıştır. Çalışmada iki model kurulmuş; ilk modelin analizinde elde edilen bulgulara göre, doğrudan yabancı yatırımların ve GSYİH’nın BRIC ve MIST ülkelerinde karbondioksit emisyonunu arttırdığı ve kişi başına GSYİH’nın karesi ile karbondioksit emisyonu arasında ters yönlü bir ilişki olduğu tespit edilmiştir. İkinci modelin bulgularına göre ise çevre politikasının sıkılaşmasının doğrudan yabancı yatırım girişlerini azalttığı sonucuna ulaşılmıştır.

Anahtar Kelimeler

• Kirlilik sığınağı hipotezi
• çevresel Kuznets eğrisi
• doğrudan yabancı yatırım
• gelişmekte olan ülkeler
• dinamik panel veri analizi

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