FİNANSAL GELİŞME VE ENERJİ YAPISININ YENİLENEBİLİR ENERJİYE ETKİSİ: 20 GELİŞMEKTE OLAN ÜLKE ÖRNEĞİ

Yıl 2025, Cilt: 8 Sayı: 2, 27 - 46, 30.12.2025

Lale Kübra Uluçay , Ulaş Ünlü

https://doi.org/10.54472/jobig.1762431

https://izlik.org/JA93AF24UF

Öz

Bu çalışma, 2010–2021 döneminde seçilmiş 20 gelişmekte olan ülkede yenilenebilir enerji tüketiminin belirleyicilerini incelemektedir. Bağımlı değişken olarak yenilenebilir enerji tüketimi; bağımsız değişkenler olarak ise finansal gelişme, enerji yoğunluğu ve enerji ithalatı ele alınmıştır. Panel veri setinin hem yatay kesit hem de zaman boyutundaki dinamik ilişkilerini dikkate almak amacıyla, iki aşamalı Sistem Genelleştirilmiş Momentler Metodu tercih edilmiştir. Analiz sonuçları, yenilenebilir enerji tüketiminin büyük ölçüde geçmiş dönem değerlerinden etkilendiğini, dolayısıyla enerji yatırımlarının süreklilik gösteren ve kurumsal destek gerektiren bir yapıda olduğunu ortaya koymaktadır. Bulgular, literatürdeki bazı beklentilerin aksine, finansal gelişmenin yenilenebilir enerji tüketimi üzerinde anlamlı bir etkisinin bulunmadığını göstermektedir. Bu durum, gelişmekte olan ülkelerde finansal kaynakların ağırlıklı olarak geleneksel enerji sektörlerine yöneldiğini ve yeşil finansman altyapısının henüz yeterince gelişmediğini düşündürmektedir. Enerji yoğunluğunun etkisi de istatistiksel olarak anlamlı bulunmamıştır; bu, enerji verimliliği politikalarının enerji dönüşümüne doğrudan yansımadığını işaret etmektedir. Enerji ithalatı ise pozitif ve sınırlı düzeyde anlamlı bir etki göstermiştir; bu bulgu, dışa bağımlılığın yenilenebilir enerji yatırımlarını kısmen teşvik edebileceğini düşündürmektedir. Genel olarak sonuçlar, enerji dönüşümünün yalnızca ekonomik faktörlere değil, aynı zamanda finansal yapıların yönlendirilmesine, politik iradeye, kurumsal kapasiteye ve uzun vadeli stratejik planlamaya bağlı olduğunu ortaya koymaktadır.

Anahtar Kelimeler

Finansal Gelişme , Yenilenebilir Enerji Tüketimi , Enerji Yoğunluğu , Enerji İthalatı

FINANCIAL STRUCTURES AND ENERGY PATTERNS IN THE SHIFT TOWARD RENEWABLES: EVIDENCE FROM 20 DEVELOPING COUNTRIES

https://izlik.org/JA93AF24UF

Öz

This study investigates the determinants of renewable energy consumption in a panel of 20 developing countries over the period 2010–2021. The dependent variable is renewable energy consumption, while the key explanatory variables include financial development, energy intensity, and energy imports. To capture the dynamic relationships across both cross-sectional and temporal dimensions of the panel dataset, the two-step System Generalized Method of Moments estimator is employed. The results indicate that renewable energy consumption is strongly influenced by its own lagged values, underscoring the persistence of energy investments and the gradual, institution-dependent nature of the energy transition. Contrary to some prior expectations, financial development exerts no statistically significant effect, suggesting that in developing economies financial resources tend to be allocated predominantly to conventional energy sectors and that green finance infrastructure remains underdeveloped. Similarly, energy intensity is found to have no significant impact, implying that efficiency policies have yet to translate into tangible progress in the energy transition. In contrast, energy imports exhibit a positive, albeit marginally significant, relationship with renewable energy consumption, indicating that external energy dependence may serve as a modest catalyst for renewable investments. Overall, the findings suggest that advancing the energy transition requires not only economic factors but also targeted financial reforms, strong political commitment, enhanced institutional capacity, and coherent long-term strategic planning.

Anahtar Kelimeler

Financial Development , Renewable Energy Consumption , Energy Intensity , Energy Imports

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