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The Impact of Financial Development on Carbon (CO2) Emissions in Türkiye: A Sectoral Perspective within the Framework of Environmental Kuznets Curve Hypothesis

Yıl 2024, Cilt: 32 Sayı: 61, 427 - 454, 30.07.2024

Onur Şeyranlıoğlu

https://doi.org/10.17233/sosyoekonomi.2024.03.20

Öz

This study aims to examine the effect of financial development on carbon (CO2) emissions from the manufacturing industry and construction sector in the context of the Environmental Kuznets Curve (EKC) hypothesis with the data from 1960-2014 in Türkiye. In the study, the ARDL bounds test was used to determine the cointegration relationship and the long and short-term coefficients of the model were estimated. FMOLS, DOLS and CCR estimators were used to confirm the accuracy of the long-run coefficients obtained by ARDL bounds test. According to the findings, a long-run relationship was found in the model. According to the long-run coefficients, increases in financial development decrease carbon emissions, while economic growth and energy consumption variables increase them. In addition, the EKC hypothesis is found to be valid. FMOLS, DOLS and CCR estimator findings confirm the ARDL long-run coefficient estimates. The study is considered a candidate to fill an important gap in the literature in determining the determinants of sectoral carbon emissions in the context of the EKC hypothesis.

Anahtar Kelimeler

Financial Development Sectoral Carbon Emission Environmental Kuznets Curve ARDL Boundary Test

Kaynakça

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  • Adebayo, T.S. et al. (2022), “Drivers of Environmental Degradation in Turkey: Designing An SDG Framework Through Advanced Quantile Approaches”, Energy Reports, 8(29), 2008-2021.
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Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış

Yıl 2024, Cilt: 32 Sayı: 61, 427 - 454, 30.07.2024

Onur Şeyranlıoğlu

https://doi.org/10.17233/sosyoekonomi.2024.03.20

Öz

Bu araştırmanın amacı, Türkiye’de 1960-2014 dönemi verileri ile finansal gelişmenin imalat sanayi ve inşaat sektörü kaynaklı karbon (CO2) emisyonlarına etkisinin Çevresel Kuznets Eğrisi (EKC) hipotezi bağlamında incelenmesidir. Araştırmada, eşbütünleşme ilişkisinin tespit edilebilmesi için ARDL sınır testi kullanılmış, modelin uzun ve kısa dönem katsayıları tahmin edilmiştir. ARDL sınır testi ile elde edilen uzun dönem katsayıların doğruluğunu teyit etmek için FMOLS, DOLS ve CCR tahmincileri kullanılmıştır. Bulgulara göre modelde uzun dönemli ilişki tespit edilmiştir. Uzun dönem katsayılara göre finansal gelişmedeki artışlar karbon emisyonlarını azaltırken, ekonomik büyüme ve enerji tüketimi değişkenleri ise yükseltmektedir. Ayrıca, EKC hipotezinin geçerli olduğu görülmüştür. FMOLS, DOLS ve CCR tahminci bulguları, ARDL uzun dönem katsayı tahminlerini doğrulamaktadır. Araştırmanın, EKC hipotezi bağlamında sektörel karbon emisyonlarının belirleyicilerinin tespit edilmesi noktasında literatürde önemli bir boşluğu doldurmaya aday olduğu düşünülmektedir.

Anahtar Kelimeler

Finansal Gelişme Sektörel Karbon Emisyonu Çevresel Kuznets Eğrisi ARDL Sınır Testi

Kaynakça

  • Abbasi, F. & K. Riaz (2016), “CO2 Emissions and Financial Development in An Emerging Economy: An Augmented VAR Approach”, Energy Policy, 90, 102-114.
  • Abid, A. et al. (2022), “The Effect of Technological Innovation, FDI, and Financial Development on CO2 Emission: Evidence from the G8 Countries”, Environmental Science and Pollution Research, 29, 11654-11662.
  • Aboagye, S. (2017), “Economic Expansion and Environmental Sustainability Nexus in Ghana”, African Development Review, 29(2), 155-168.
  • Adebayo, T.S. et al. (2021), “Coal Consumption and Environmental Sustainability in South Africa: The Role of Financial Development and Globalization”, International Journal of Renewable Energy Development, 10(3), 527-536.
  • Adebayo, T.S. et al. (2022), “Drivers of Environmental Degradation in Turkey: Designing An SDG Framework Through Advanced Quantile Approaches”, Energy Reports, 8(29), 2008-2021.
  • Afşar, M. & G.Ö. Yüksel (2022), “Küreselleşme, Finansal Gelişme ve Karbon Emisyonları İlişkisi: Türkiye Üzerine Asimetrik Kanıtlar”, Sakarya İktisat Dergisi, 11(4), 428-449.
  • Akbostancı, E. et al. (2018), “Drivers of Fuel Based Carbon Dioxide Emissions: The Case of Turkey”, Renewable and Sustainable Energy Reviews, 81, 2599-2608.
  • Akca, H. (2021), “Environmental Kuznets Curve and Financial Development in Turkey: Evidence from Augmented ARDL Approach”, Environmental Science and Pollution Research, 28, 69149-69159.
  • Anwar, A. et al. (2022), “The Nexus between Urbanization, Renewable Energy Consumption, Financial Development, and CO2 Emissions: Evidence from Selected Asian Countries”, Environment, Development and Sustainability, 24(5), 6556-6576.
  • Aslan, A. et al. (2021), “The Nexus among Climate Change, Economic Growth, Foreign Direct Investments, and Financial Development: New Evidence From N-11 Countries”, Environmental Progress & Sustainable Energy, 40(3), e13585.
  • Azam, W. et al. (2023), “Alternative Energy and Natural Resources in Determining Environmental Sustainability: A Look at the Role of Government Final Consumption Expenditures in France”, Environmental Science and Pollution Research, 30(1), 1949-1965.
  • Bahmani-Oskooee, M. & R.C.W. Ng (2002), “Long-Run Demand for Money in Hong Kong: An Application of the ARDL Model”, International Journal of Business and Economics, 1(2), 147-155.
  • Bayat, T. et al. (2023), “How Do Logistics and Financial Indicators Contribute to Carbon Emissions in Turkiye?”, Environmental Science and Pollution Research International, 30(43), 97842-97856.
  • Becker, R. et al. (2006), “A Stationarity Test in the Presence of An Unknown Number of Smooth Breaks”, Journal of Time Series Analysis, 27(3), 381-409.
  • Bello, A.K. & O.M. Abimbola (2010), “Does the Level of Economic Growth Influence Environmental Quality in Nigeria: A Test of Environmental Kuznets Curve (EKC) Hypothesis”, Pakistan Journal of Social Sciences, 7(4), 325-329.
  • Boutabba, M.A. (2014), “The Impact of Financial Development, Income, Energy and Trade on Carbon Emissions: Evidence from the Indian Economy”, Economic Modelling, 40, 33-41.
  • Cao, H. et al. (2022), “Impact of Globalization, Institutional Quality, Economic Growth, Electricity and Renewable Energy Consumption on Carbon Dioxide Emission in OECD Countries”, Environmental Science and Pollution Research, 29, 24191-24202.
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  • Kruse, R. (2011), “A New Unit Root Test against ESTAR-Based on a Class of Modified Statistics”, Statistical Papers, 52, 71-85.
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  • Maji, I.K. et al. (2017), “Financial Development and Sectoral CO2 Emissions in Malaysia”, Environmental Science and Pollution Research, 24, 7160-7176.
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  • Nasir, M.A. et al. (2019), “Role of Financial Development, Economic Growth & Foreign Direct Investment in Driving Climate Change: A Case of Emerging ASEAN”, Journal of Environmental Management, 242, 131-141.
  • Ohajionu, U.C. et al. (2022), “Assessing the Linkage between Energy Consumption, Financial Development, Tourism and Environment: Evidence from Method of Moments Quantile Regression”, Environmental Science and Pollution Research, 29, 30004-30018.
  • Onat, N.C. & M. Kucukvar (2020), “Carbon Footprint of Construction Industry: A Global Review and Supply Chain Analysis”, Renewable and Sustainable Energy Reviews, 124, 109783.
  • Ozatac, N. et al. (2017), “Testing the EKC Hypothesis by Considering Trade Openness, Urbanization, and Financial Development: The Case of Turkey”, Environmental Science and Pollution Research, 24, 16690-16701.
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  • Shahbaz, M. et al. (2013c), “The Effects of Financial Development, Economic Growth, Coal Consumption and Trade Openness on CO2 Emissions in South Africa”, Energy Policy, 61, 1452-1459.
  • Shahbaz, M. et al. (2015), “Does Globalization Impede Environmental Quality in India?”, Ecological Indicators, 52, 379-393.
  • Shahbaz, M. et al. (2018), “Environmental Degradation in France: The Effects of FDI, Financial Development, and Energy Innovations”, Energy Economics, 74, 843-857.
  • Sikder, M. et al. (2022), “The Integrated Impact of GDP Growth, Industrialization, Energy Use, and Urbanization on CO2 Emissions in Developing Countries: Evidence from the Panel ARDL Approach”, Science of the Total Environment, 837, 155795.
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  • Weili, L. et al. (2022), “The Impact of Information and Communication Technology, Financial Development, and Energy Consumption on Carbon Dioxide Emission: Evidence from the Belt and Road Countries”, Environmental Science and Pollution Research, 29, 27703-27718.
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  • Yuxiang, K. & Z. Chen (2011), “Financial Development and Environmental Performance: Evidence from China”, Environment and Development Economics, 16(1), 93-111.
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  • Zhang, Y. J. (2011), “The Impact of Financial Development on Carbon Emissions: An Empirical Analysis in China”, Energy Policy, 39(4), 2197-2203.
Toplam 104 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Finansal Ekonomi
Bölüm Makaleler
Yazarlar

Onur Şeyranlıoğlu 0000-0002-1105-4034

Erken Görünüm Tarihi 21 Temmuz 2024
Yayımlanma Tarihi 30 Temmuz 2024
Gönderilme Tarihi 5 Aralık 2023
Kabul Tarihi 4 Temmuz 2024
Yayımlandığı Sayı Yıl 2024 Cilt: 32 Sayı: 61

Kaynak Göster

APA Şeyranlıoğlu, O. (2024). Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış. Sosyoekonomi, 32(61), 427-454. https://doi.org/10.17233/sosyoekonomi.2024.03.20
AMA Şeyranlıoğlu O. Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış. Sosyoekonomi. Temmuz 2024;32(61):427-454. doi:10.17233/sosyoekonomi.2024.03.20
Chicago Şeyranlıoğlu, Onur. “Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış”. Sosyoekonomi 32, sy. 61 (Temmuz 2024): 427-54. https://doi.org/10.17233/sosyoekonomi.2024.03.20.
EndNote Şeyranlıoğlu O (01 Temmuz 2024) Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış. Sosyoekonomi 32 61 427–454.
IEEE O. Şeyranlıoğlu, “Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış”, Sosyoekonomi, c. 32, sy. 61, ss. 427–454, 2024, doi: 10.17233/sosyoekonomi.2024.03.20.
ISNAD Şeyranlıoğlu, Onur. “Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış”. Sosyoekonomi 32/61 (Temmuz 2024), 427-454. https://doi.org/10.17233/sosyoekonomi.2024.03.20.
JAMA Şeyranlıoğlu O. Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış. Sosyoekonomi. 2024;32:427–454.
MLA Şeyranlıoğlu, Onur. “Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış”. Sosyoekonomi, c. 32, sy. 61, 2024, ss. 427-54, doi:10.17233/sosyoekonomi.2024.03.20.
Vancouver Şeyranlıoğlu O. Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış. Sosyoekonomi. 2024;32(61):427-54.
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