Araştırma Makalesi

TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION

Cilt: 9 Sayı: 2 1 Ekim 2026
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TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION

Öz

The aim of this study is to determine the relationship between military expenditure, financial development, renewable energy consumption, and environmental pollution in a sample of the "fragile five" economies: Brazil, India, Indonesia, South Africa, and Turkey. For this purpose, panel data analysis was conducted using annual data for the period 1990-2022. The results showed a long-term relationship between renewable energy consumption, financial development, military expenditure, and environmental pollution. A significant relationship was found between MILEX, RENW, and FD, and CAFP in each country. In all countries examined, it was observed that CAFP increased with increases in MILEX and FD, and decreased with increases in RENW. India showed the strongest relationship between MILEX and CAFP, while Brazil showed the weakest. South Africa was identified as the country with the weakest long-term relationship between RENW and CAFP, while Turkey showed the strongest. India was found to have the highest relationship between FD and CAFP.

Anahtar Kelimeler

Kaynakça

  1. Ahmad, M., Ahmed, Z., Yang, X., Hussain, N. and Sinha, A. (2022). Financial Development and Environmental Degradation: Do Human Capital and Institutional Quality Make A Difference?. Gondwana Research, 105, 299-310.
  2. Anton, S. G., and Nucu, A. E. A. (2020). The Effect of Financial Development on Renewable Energy Consumption. A Panel Data Approach. Renewable Energy, 147, 330-338.
  3. Anwar, A., Sinha, A., Sharif, A., Siddique, M., Irshad, S., Anwar, W., and Malik, S. (2022). The Nexus Between Urbanization, Renewable Energy Consumption, Financial Development, And CO 2 Emissions: Evidence from Selected Asian Countries. Environment, Development and Sustainability, 1–21.
  4. Asongu, S. A., and Ndour, C. T. (2023). Military Expenditure, Governance, And Environmental Degradation in Sub-Saharan Africa. Environmental Processes, 10(4), 51.
  5. Baloch, M. A., Ozturk, I., Bekun, F. V., and Khan, D. (2021). Modeling The Dynamic Linkage Between Financial Development, Energy Innovation, And Environmental Quality: Does Globalization Matter?. Business Strategy and the Environment, 30(1), 176-184.
  6. Balsalobre-Lorente, D., Nur, T., Topaloglu, E. E. and Evcimen, C. (2024). Assessing The Impact of The Economic Complexity on The Ecological Footprint in G7 Countries: Fresh Evidence Under Human Development and Energy Innovation Processes. Gondwana Research, 127, 226-245.
  7. Block, S., Emerson, J. W., Esty, D. C., de Sherbinin, A., Wendling, Z. A., et al. (2024). Environmental Performance Index. New Haven, CT: Yale Center for Environmental Law and Policy. epi.yale.edu.
  8. Breusch, T. S., and Pagan, A. R. (1980). The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics. The review of economic studies, 47(1), 239-253.

Ayrıntılar

Birincil Dil

İngilizce

Konular

Finans, Finansal Ekonometri, Finansal Öngörü ve Modelleme

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

1 Ekim 2026

Gönderilme Tarihi

4 Ağustos 2026

Kabul Tarihi

1 Eylül 2026

Yayımlandığı Sayı

Yıl 2026 Cilt: 9 Sayı: 2

Kaynak Göster

APA
Kaya, E. (2026). TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION. Muhasebe ve Finans İncelemeleri Dergisi, 9(2), 207-219. https://doi.org/10.32951/mufider.2011205
AMA
1.Kaya E. TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION. MUFİDER. 2026;9(2):207-219. doi:10.32951/mufider.2011205
Chicago
Kaya, Emine. 2026. “TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION”. Muhasebe ve Finans İncelemeleri Dergisi 9 (2): 207-19. https://doi.org/10.32951/mufider.2011205.
EndNote
Kaya E (01 Ekim 2026) TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION. Muhasebe ve Finans İncelemeleri Dergisi 9 2 207–219.
IEEE
[1]E. Kaya, “TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION”, MUFİDER, c. 9, sy 2, ss. 207–219, Eki. 2026, doi: 10.32951/mufider.2011205.
ISNAD
Kaya, Emine. “TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION”. Muhasebe ve Finans İncelemeleri Dergisi 9/2 (01 Ekim 2026): 207-219. https://doi.org/10.32951/mufider.2011205.
JAMA
1.Kaya E. TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION. MUFİDER. 2026;9:207–219.
MLA
Kaya, Emine. “TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION”. Muhasebe ve Finans İncelemeleri Dergisi, c. 9, sy 2, Ekim 2026, ss. 207-19, doi:10.32951/mufider.2011205.
Vancouver
1.Emine Kaya. TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION. MUFİDER. 01 Ekim 2026;9(2):207-19. doi:10.32951/mufider.2011205



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