Sürdürülebilir Ekonomik Büyümenin Temel Dinamiği Olarak Yeşil Yatırım: Gelişmiş Ekonomilerden Bulgular

Abstract

Sanayi Devrimi ile beraber üretim sürecinde makinelerin kullanılmasıyla çıktı miktarında önemli bir artışa neden olmuştur. Ancak, bu makinelerin üretime dahil edilmesi önemli miktarda enerji ve girdi gerektirmiş, bu da artan kirliliğe ve dolayısıyla çevresel bozulmanın hızlanmasına yol açmıştır. Zamanla, bu çevresel sorunlar küresel bir tehdit haline gelmiş ve kuraklık, şiddetli yağışlar ve aşırı hava koşulları gibi doğal afetler şeklinde kendini göstermeye başlamıştır. Bu bağlamda, çevre kalitesini belirleyen faktörler araştırmacıların giderek daha da ilgisini çekmiş ve geniş çapta çalışmalara konu olmuştur. Ekonomik faaliyetlerin çevre kirliliğine neden olduğu kabul gördükçe sürdürülebilir ekonomik büyüme kavramı birçok ülke için yeni bir hedef haline gelmiştir. Sürdürülebilir ekonomik büyümeyi etkileyen temel faktörlerden biri, çevreci ekonomik faaliyetleri teşvik eden yeşil yatırımlardır. Ancak, yeşil yatırımların sürdürülebilir ekonomik büyüme üzerindeki etkisi literatürde fazla çalışılmayıp büyük ölçüde ihmal edilmiştir. Bu çalışma, 2014–2022 dönemi boyunca 17 gelişmiş ülke için yeşil yatırımın sürdürülebilir ekonomik büyüme üzerindeki etkisini iki aşamalı Sistem Genelleştirilmiş Momentler Yöntemi kullanılarak araştırmayı amaçlamaktadır. Elde edilen sonuçlar, daha yüksek düzeyde yeşil yatırımın daha yüksek bir sürdürülebilir ekonomik büyüme oranı ile ilişkili olduğunu göstermektedir. Ayrıca analizde enflasyon, dışa açıklık, doğrudan yabancı yatırım ve kamu harcamaları gibi çeşitli kontrol değişkenlerine de yer verilmiştir. Bulgular, enflasyonun sürdürülebilir ekonomik büyüme üzerinde büyümeyi destekleyici bir etkisi olduğunu, diğer değişkenlerin ise olumsuz etkiye neden olduğunu ortaya koymaktadır. Bulguların sağlamlığını test etmek amacıyla, bir aşamalı Sistem Genelleştirilmiş Momentler Yöntemi tekniği de uygulanmış ve ilk bulguların güvenirliliği teyit edilmiştir. Bu bulgular doğrultusunda, mevcut çalışma politika önerileri sunmaktadır. Özellikle, uzun vadeli sürdürülebilir ekonomik büyümeyi sağlamak amacıyla yeşil yatırımları teşvik edecek hedefe yönelik stratejilerin gerekliliği vurgulanmakta ve bu konuda gelecekte yapılacak araştırmalar için bazı tavsiyelerde bulunulmaktadır.

Keywords

• Yeşil yatırım
• sürdürülebilir ekonomik büyüme
• gelişmiş ülkeler

Green Investment as a Driver of Sustainable Economic Growth: Evidence from Developed Economies

Abstract

During the Industrial Revolution, a significant increase in output was achieved through the use of machines in the production process. However, operating these machines required substantial energy and inputs, which resulted in increased pollution and consequently accelerated environmental degradation. Over time, these environmental issues have become a global threat, taking the form of natural disasters such as droughts, heavy rainfall, and extreme weather conditions. Within this context, the determinants of environmental quality have attracted growing attention from researchers and have been widely studied. As it became widely accepted that economic activity contributes to environmental pollution, the concept of sustainable economic growth emerged as a new objective for many countries. One key factor influencing sustainable economic growth is green investment, which promotes environmentally friendly economic activities. Despite its importance, the impact of green investment on sustainable economic growth has been largely overlooked in the literature. This study aims to examine the effect of green investment on sustainable economic growth in 17 developed countries over the period 2014–2022, using the two-step System Generalized Method of Moments. The results show that higher levels of green investment are associated with a higher rate of sustainable economic growth. In addition, several control variables are included in the analysis. These are inflation, trade openness, foreign direct investment, and government expenditure. The findings suggest that inflation has a growth-enhancing effect on sustainable economic growth, whereas the other variables have a negative impact. To ensure the robustness of the findings, one-step System Generalized Method of Moments technique was also conducted, which confirmed the initial results. Based on these findings, the study offers policy recommendations. In particular, it emphasizes the need for targeted strategies that encourage green investment as a means to achieve long-term sustainable economic growth and also suggests some directions for future research on this topic.

Keywords

• Green investment
• sustainable economic growth
• developed countries

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