STRUCTURAL BREAKS, FINANCIAL DEVELOPMENT AND RENEWABLE ENERGY USE: EMPIRICAL EVIDENCE FROM TURKISH ECONOMY

Yıl 2024, Cilt: 8 Sayı: 3, 301 - 332, 29.12.2024

Murat Çetin

https://doi.org/10.54707/meric.1546980

Öz

The study aims to analyze the financial development-renewable energy consumption relationship in case of Turkey within the 1980-2020 period. The study incorporates economic growth, technological innovation and oil price into the renewable energy specification as additional variables. The ARDL and Toda-Yamamoto procedures are applied to conduct the cointegration and causality analyses. The findings point out the cointegrtaion between economic growth, financial development, technological innovation, oil price and renewable energy use under the structural breaks. The findings also indicate that financial development, economic growth and technological iinovation are positively related to renewable energy consumption. It is found that the causality between financial development and renewable energy consumption is bidirectional. All the empirical findings has several important implications for policymakers.

Anahtar Kelimeler

Financial Development, Renewable Energy, Structural Breaks, ARDL, Causality

YAPISAL KIRILMALAR, FİNANSAL GELİŞME VE YENİLENEBİLİR ENERJİ KULLANIMI: TÜRKİYE EKONOMİSİNDEN AMPİRİK KANITLAR

Öz

Bu çalışma finansal gelişme-yenilenebilir enerji kullanımı ilişkisini Türkiye ekonomisi örneğinde 1980-2020 dönemi için analiz etme amacı taşır. Çalışma ekonomik büyüme, teknolojik yenilik ve petrol fiyatını yenilenebilir enerji modeline ilave değişkenler olarak entegre eder. ARDL ve Toda-Yamamoto prosedürleri eşbütünleşme ve nedensellik analizleri için uygulanmaktadır. Bulgular ekonomik büyüme, finansal gelişme, teknolojik yenilik, petrol fiyatı ve yenilenebilir enerji kullanımı arasında bir eşbütünleşmeye işaret etmektedir. Bulgular finansal gelişme, ekonomik büyüme ve teknolojik yeniliğin yenilenebilir enerji tüketimi ile pozitif ilişkide olduğunu göstermektedir. Finansal gelişme ile yenilenebilir enerji tüketimi arasındaki nedenselliğin çift yönlü olduğu belirlenmektedir. Tüm ampirik sonuçlar politika yapıcıları için önemli eğilimler içermektedir.

Anahtar Kelimeler

Finansal Gelişme, Yenilenebilir Enerji, Yapısal Kırılmalar, ARDL, Nedensellik

Etik Beyan

Çalışmada etiksel bir sorun söz konusu değildir

Destekleyen Kurum

Herhangi bir destek kurumu bulunmamaktadır

Teşekkür

Derginizin yayın sürecine alınması için gereğini arz ederim. Teşekkür ederim.

Kaynakça

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