The Impact of Foreign Direct Investment on CO2 Emission: Pollution Halo or Pollution Haven Hypothesis?

Öz

The relation between foreign direct investment and carbon emission together with globalized economic structure has become an important research area. Hence, the aim of this study is to investigate aspects of how increase in foreign direct investments is affecting carbon emission. In the application, the period 1970-2010 was examined and firstly, foreign direct investments are observed casual of carbon emission via linear and nonlinear causality tests. Secondly, long-term integration between these two variables is determined by cointegration test with two structural breaks. Lastly, the aspects of this relation are specified with the FMOLS and CCR cointegration estimators. As findings, the Pollution Halo Hypothesis which claims increase in foreign direct investments is parallel with decrease in carbon emission, is valid for United States, France and United Kingdom; on the other hand, the Pollution Haven Hypothesis which accepts these increased investments raise environment and air pollution, is valid only for Canada

Anahtar Kelimeler

• Foreign Direct Investment
• CO2 Emission
• Pollution Halo
• Pollution Haven
• Cointegration Estimators

Doğrudan Yabancı Yatırımların CO2 Emisyonuna Etkisi: Kirlilik Hale Hipotezi mi Kirlilik Cenneti Hipotezi mi?

Öz

Küreselleşen ekonomik yapı ile birlikte direk yabancı yatırımlar ve karbon emisyonu arasındaki ilişki önemli bir araştırma konusu olmuştur. 1970-2010 arasındaki dönemin incelendiği bu çalışmada direk yabancı yatırımlardaki artışın karbon emisyonu üzerindeki etkisinin yönü araştırılmıştır. Bu bağlamda ilk olarak doğrusal ve doğrusal olmayan nedensellik testleri vasıtasıyla direk yabancı yatırımların karbon emisyonunun nedeni olduğu tespit edilmiştir. İkinci aşamada bu iki değişken arasında uzun dönemli entegrasyonun varlığı iki yapısal kırılmalı eşbütünleşme testi ile belirlenmiştir. Son aşamada ise bu ilişkinin yönü FMOLS ve CCR eşbütünleşme tahmincileri ile saptanmıştır. Sonuç olarak, A.B.D, Fransa ve İngiltere için direk yabancı yatırımlardaki artış ile karbon salınımdaki azalmanın paralel olduğunu öne süren Kirlilik Hale hipotezinin geçerli olduğu; Kanada içinse artan bu yatırımların çevre ve hava kirliliğini arttırdığı yönündeki Kirlilik Cenneti hipotezinin geçerli olduğu bulgusuna ulaşılmıştır.

Anahtar Kelimeler

• Doğrudan Yabancı Yatırım
• CO2 Emisyonu
• Kirlilik Hale Etkisi
• Kirlilik Cenneti Etkisi
• Eşbütünleşme Tahmincisi

Kaynakça

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