Araştırma Makalesi
BibTex RIS Kaynak Göster

FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ

Yıl 2018, , 37 - 54, 27.12.2018
https://doi.org/10.26468/trakyasobed.421105

Öz

Çevre kirliliğinin küresel
çapta hissedilen ekonomik maliyetleri yenilenebilir enerji kaynaklarının
önemini her geçen gün arttırmaktadır. Artan bu önem kendisini çevre ekonomisi
literatüründe de göstermektedir. Özellikle son 10 yıllık dönemde alana ilişkin
araştırmalar, yenilenebilir enerji kaynaklarının uzun dönem belirleyicilerinin
neler olduğunu belirlemeye yöneliktir. Çevre ekonomisi literatüründeki bu
eğilime uygun olacak şekilde bu çalışmanın amacı, finansal gelişmişlik ile
yenilenebilir enerji tüketimi arasındaki uzun dönemli ilişkiyi G-7 ülkeleri
için 1991-2011 yıllarını kapsayacak şekilde incelemektir. Araştırmanın analiz
bulgularına göre, yenilenebilir enerji tüketimi ile reel GYSİH, toplam enerji
tüketimi, petrol fiyatları ve finansal gelişmişlik arasında uzun dönemli bir ilişki
vardır. Yenilenebilir enerji tüketimine ilişkin uzun dönem esneklik katsayı
sonuçları çerçevesinde ise toplam enerji tüketimi, petrol fiyatları ve finansal
gelişmişlik, yenilenebilir enerji tüketimini arttırmaktadır. Ekonomik büyümenin
ise yenilenebilir enerji kaynakları tüketimi üzerinde uzun dönemde
istatistiksel olarak anlamlı bir etkisi yoktur. PMG tahminci sonuçlarına göre, finansal
gelişmişlik düzeyi arttıkça, yenilenebilir enerji kaynaklarına olan talepte
artmaktadır. Bu çalışmanın ampirik bulguları, finansal gelişmişlik düzeyindeki
artışların uzun dönemde çevre dostu enerji kaynaklarına olan talebi arttıran
önemli tetikleyicilerden biri olduğunu ortaya çıkarmaktadır.  Bu sonuçtan hareketle, politika yapıcılari sürdürülebilir
kalkınma hedeflerine ulaşmak için finansal sistem içerisinde yer alan
şirketlerin yenilenebilir enerji kaynaklarına olan taleplerini arttıracak
teşvik ve vergi politikalarını uygulamaya koymalı ve finansal düzenlemeler
yoluyla kamu-özel sektör işbirliğinde oluşacak yatırım imkanlarını
arttırmalıdır.




Kaynakça

  • Ackah, I, & Kizys, R. (2015). Green growth in oil producing African countries: A panel data analysis of renewable energy demand. Renewable and Sustainable Energy Reviews, 50, 1157-1166.
  • Al-Mulalı, U., Ozturk, I. & Lean, H. H. (2015). The influence of economic growth, urbanization, trade openness, financial development, and renewable energy on pollution in Europe. Natural Hazards, 79, 621-644.
  • Apergis, N. & Payne, J. E. (2010a). Renewable energy consumption and economic growth: Evidence from a panel of OECD countries. Energy Policy, 38, 656-660.
  • Apergis, N. & Payne, J. E. (2010b). Renewable energy consumption and growth in Eurasia. Energy Economics, 32, 1392-1397.
  • Apergis, N., Payne, J.E., Menyah, K. & Wolde-Rufael, Y. (2010). On the causal dynamics between emissions, nuclear energy, renewable energy, and economic growth. Ecological Economics, 69, 2255-2260.
  • Apergis, N. & Payne, J. E. (2011). The renewable energy consumption–growth nexus in Central America. Applied Energy, 88, 343-347.
  • Apergis, N. & Payne, J. E. (2012). Renewable and non-renewable energy consumption-growth nexus: Evidence from a panel error correction model. Energy Economics, 34, 733-738.
  • Apergis, N. & Payne, J. E. (2014). Renewable energy, output, CO2 emissions, and fossil fuel prices in Central America: Evidence froma nonlinear panel smooth transition vector error correction model. Energy Economics, 42, 226–232.
  • Apergis, N. & Payne, J. E. (2015). Renewable energy, output, carbon dioxide emissions, and oil prices: Evidence from South America. Energy Sources, Part B: Economics, Planning and Policy, 10, 281-287.
  • Aquirre, M. & Ibikunle, G. (2014). Determinants of renewable energy growth: A global sample analysis. Energy Policy, 69, 374-384
  • Awerbuch, S. & Sauter, R. (2006). Exploiting the oil–GDP effect to support renewables deployment. Energy Policy, 34, 2805-2819.
  • Bhattacharya, M., Paramati, S.R., Ozturk, I. & Bhattacharya, S. (2016). The effect of renewable energy consumption on economic growth: Evidence from top 38 countries. Applied Energy, 162, 733–741.
  • Birleşmiş Milletler (UN). (2018). Sustainable energy for all. http://www.se4all.org/decade (10.01.2018).
  • Blackburne, E., & Frank, M. (2007). Estimation of nonstationary heterogeneous panels. Stata Journal, 7(2), 197-208.
  • Bloch, H., Rafiq, S. & Salim, R. (2015). Economic growth with coal, oil and renewable energy consumption in China: Prospects for fuel substitution. Economic Modelling, 44, 104–115.
  • Bowden, N. & Payne, J. E. (2010). Sectoral analysis of the causal relationship between renewable and non-renewable energy consumption and real output in the US. Energy Sources, Part B: Economics, Planning and Policy, 5, 400-408.
  • British Petrol (BP). (2017). Statistical review of world energy. https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html (01.08.2017).
  • Breusch, T. S., & 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.
  • Chang, T. H., Huang, C.M. & Lee, M.C. (2009). Threshold effect of the economic growth rate on the renewable energy development from a change in energy price:Evidence from OECD countries. Energy Policy, 37, 5796-5802.
  • Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D. & Trembling, A. (2015). Renewable energy and growth:Evidence from heterogeneous panel of G7countries using Granger causality. Renewable and Sustainable Energy Reviews, 52, 1405–1412.
  • Chien, T. & Hu, J.L. (2008). Renewable energy: An efficient mechanism to improve GDP. Energy Poliecy, 36, 3045– 3052.
  • Claessens, S. & Fijen, E. (2006). Financial sector development and the millennium development goals. World Bank Working Paper, No. 89, Washington D.C.
  • Demirgüç-Kunt, A. & Levine, R. (1996a). Stock market development and financial intermediaries: Stylized facts. The World Bank Economic Review, 10(2), 291-321.
  • Demirgüç-Kunt, A. & Levine, R. (1996b). Stock markets, corporate finance, and economic growth: An overview. The World Bank Economic Review, 10(2), 223-239.
  • Dinda, S., Coondoo, D. & Pal, M. (2000). Air quality and economic growth: an empirical study. Ecological Economics, 34, 409–423.
  • Doytch, N. & Narayan, S. (2016). Does FDI influence renewable energy consumption? An analysis of sectoral FDI impact on renewable and non-renewable industrial energy consumption. Energy Economics, 54, 291-301.
  • Ekonomik Kalkınma ve İş Birliği Örgütü (OECD). (2016). The Economic consequences of outdoor air pollution, http://www.oecd.org/env/the-economic-consequences-of-outdoor-air-pollution-9789264257474-en.htm (17.02.2018).
  • Grossman, G.M. & Krueger, A.B. (1991). Environmental impacts of a North American Free Trade Agreement. NBER Working Papers Series, No. 3914. Cambridge, MA, National Bureau of Economic Research.
  • Grossman, G. M. & Krueger, A. B. (1995). Economic growth and the environment. The Quarterly Journal of Economics, 110 (2), 353-377.
  • Hoechle D. (2007). Robust standard errors for panel regressions with cross-sectional dependence. The Stata Journal, 7(3), 281-312.
  • Levine, R. (1997). Financial development and economic growth: Views and agenda. Journal of Economic Literature, 35, 688-726.
  • Lin, B, & Moubarak, M. (2014). Renewable energy consumption – Economic growth nexus for China. Renewable and Sustainable Energy Reviews, 40, 111–117.
  • Liu, X., Zhang, S. & Bae, J. (2018). Renewable energy, trade, and economic growth in the Asia-Pacific region, Energy Sources, Part B: Economics, Planning and Policy, 13(2): 96-102.
  • Lloyd, B. & Subbarao, S. (2009). Development challenges under the Clean Development Mechanism (CDM)—Can renewable energy initiatives be put in place before peak oil. Energy Policy, 37, 237-245.
  • Margues, A. C., Fuinhas, J. A. & Manso, J.R.P. (2010). Motivations driving renewable energy in European countries: A panel data approach. Energy Policy, 38, 6877-6885.
  • Margues, A. C. & Fuinhas, J. A. (2012). Is renewable energy effective in promoting growth?. Energy Policy, 46, 434-442.
  • Menegaki, A. N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 33, 257-263.
  • Menyah, K. & Wolde-Rufael, Y. (2010). CO2 emissions, nuclear energy, renewable energy and economic growth in the US. Energy Policy, 38, 2911–2915.
  • Mert, M. & Bölük, G. (2016). Do foreign direct investment and renewable energy consumption affect the CO2 emissions? New evidence from a panel ARDL approach to Kyoto Annex countries. Environmental Science and Pollution Research, 23, 21669–21681.
  • Minier, J. (2009). Opening a stock exchange. Journal of Development Economics, 90, 135-143.
  • Ocal, O. & Aslan, A. (2013). Renewable energy consumption–economic growth nexus in Turkey. Renewable and Sustainable Energy Reviews, 28, 494-499.
  • Omri, A. & Nguyen, D. K. (2014). On the determinants of renewable energy consumption: International evidence. Energy, 72, 554-560.
  • Pao, H.T. & Fu, H.C. (2013). Renewable energy, non-renewable energy and economic growth in Brazil. Renewable and Sustainable Energy Reviews, 25: 381-392.
  • Paramati, S.R., Ummalla, M. & Apergis, N. (2016). The effect of foreign direct investment and stock market growth on clean energy use across a panel of emerging market economies. Energy Economics, 56, 29-41.
  • Paramati, S.R., Mo, D. & Gupta, R. (2017a). The effects of stock market growth and renewable energy use on CO2 emissions: Evidence from G20 countries. Energy Economics, 66, 360-371.
  • Paramati, S.R., Apergis, N. & Ummalla, M. (2017b). Financing clean energy projects through domestic and foreign capital: The role of political cooperation among the EU, the G20 and OECD countries. Energy Economics, 61, 62-71.
  • Payne, J. E. (2011). On Biomass energy consumption and real output in the US. Energy Sources, Part B: Economics, Planning and Policy, 6, 47-52.
  • Panye, J. E. (2012). The causal dynamics between US renewable energy consumption, output, emissions, and oil prices. Energy Sources, Part B: Economics, Planning and Policy,7,323-330.
  • Pesaran H.M. (2003). A simple panel unit root test in the presence of cross-section dependence. Cambridge Working Papers in Economics, No. 0346. Faculty of Economics (DAE), University of Cambridge.
  • Pesaran, H. M. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics, No. 0435, Faculty of Economics, University of Cambridge.
  • Pesaran, H.M. (2007). A simple panel unit root test in the presence of cross section dependence. Journal of Applied Econometrics, 22, 265-312.
  • Pesaran, M. H., & Smith, R. (1995). Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68, 79-113.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1997). Pooled estimation of long-run relationships in dynamic heterogeneous panels. Cambridge Working Papers in Economics, No. 9721, Faculty of Economics, University of Cambridge.
  • Pesaran, M. H., Shi, Y., & Smith, R. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94, 621-634.
  • Rentschler, J. E. (2013). Oil Price volatility – its risk on economic growth and development, http://blogs.worldbank.org/developmenttalk/oil-price-volatility-its-risk-economic-growth-and-development (07.02.2018).
  • Sadorsky, P. (2009a). Renewable energy consumption and income in emerging economies. Energy Policy, 37, 4021-4028.
  • Sadorsky, P. (2009b). Renewable energy consumption, CO2 emissions and oil prices in the G7 countries. Energy Economics, 31, 456-462.
  • Sadorsky, P. (2010). The impact of financial development on energy consumption in emerging economies. Energy Policy, 38, 2528-2535.
  • Sadorsky, P. (2011). Financial development and energy consumption in Central and Eastern European frontier economies. Energy Policy, 39, 999-1006.
  • Salim, R. A. & Rafiq, S. (2012). Why do some emerging economies proactively accelerate the adoption of renewable energy. Energy Economics, 1051-1057.
  • Shahbaz, M., Loganathan, N., Zeshan, M. & Zaman, K. (2015). Does renewable energy consumption add in economic growth?An application of auto-regressive distributed lag modelin Pakistan. Renewable and Sustainable Energy Reviews, 44, 576-585.
  • Tamazıan, A., Chousa, J. P. & Vadlamannati, K.C. (2009). Does higher economic and financial development lead to environmental degradation: Evidence from BRIC countries. Energy Policy, 37, 246-253.
  • Tamazıan, A. & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy Economics, 32, 137-145.
  • Troster, V., Shahbaz, M. & Uddin, G. S. (2018). Renewable energy, oil prices, and economic activity: A Granger-causality in quantiles analysis. Energy Economics, 70, 440-452.
  • Tuğcu, C. T., Ozturk, I. & Aslan, A. (2012). Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics, 34, 1942–1950.
  • Uluslararası Enerji Ajansı (IEA). (2017a). Commentary: A new approach to energy and sustainable development - the Sustainable Development Scenario. https://www.iea.org/newsroom/news/2017/november/a-new-approach-to-energy-and-sustainable-development-the-sustainable-development.html. (10.04.2018)
  • Uluslararası Enerji Ajansı (IEA). (2017b). World energy outlook 2017. https://www.iea.org/weo2017/ . (15.04.2018).
  • Ulusoy, V. & Demiralay, S. (2017). Energy demand and stock market development in OECD countries: A panel data analysis. Renewable and Sustainable Energy Reviews, 71, 141-149.
  • van Ruijven, B., Van Vuuren, D. P. (2009). Oil and natural gas prices and green house gas emission mitigation. Energy Policy, 37, 4797-4808.
  • Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6), 709–748.
  • Westerlund J., Hosseinkouchhack M., Solberger M. (2016). The local power of the CADF and CIPS panel unit root tests. Econometric Reviews, 35(5), 845-870.
Toplam 71 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makalesi
Yazarlar

Mümin Atalay Çetin

İbrahim Bakırtaş

Yayımlanma Tarihi 27 Aralık 2018
Yayımlandığı Sayı Yıl 2018

Kaynak Göster

APA Çetin, M. A., & Bakırtaş, İ. (2018). FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ. Trakya Üniversitesi Sosyal Bilimler Dergisi, 20(2), 37-54. https://doi.org/10.26468/trakyasobed.421105
AMA Çetin MA, Bakırtaş İ. FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ. Trakya University Journal of Social Science. Aralık 2018;20(2):37-54. doi:10.26468/trakyasobed.421105
Chicago Çetin, Mümin Atalay, ve İbrahim Bakırtaş. “FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ”. Trakya Üniversitesi Sosyal Bilimler Dergisi 20, sy. 2 (Aralık 2018): 37-54. https://doi.org/10.26468/trakyasobed.421105.
EndNote Çetin MA, Bakırtaş İ (01 Aralık 2018) FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ. Trakya Üniversitesi Sosyal Bilimler Dergisi 20 2 37–54.
IEEE M. A. Çetin ve İ. Bakırtaş, “FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ”, Trakya University Journal of Social Science, c. 20, sy. 2, ss. 37–54, 2018, doi: 10.26468/trakyasobed.421105.
ISNAD Çetin, Mümin Atalay - Bakırtaş, İbrahim. “FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ”. Trakya Üniversitesi Sosyal Bilimler Dergisi 20/2 (Aralık 2018), 37-54. https://doi.org/10.26468/trakyasobed.421105.
JAMA Çetin MA, Bakırtaş İ. FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ. Trakya University Journal of Social Science. 2018;20:37–54.
MLA Çetin, Mümin Atalay ve İbrahim Bakırtaş. “FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ”. Trakya Üniversitesi Sosyal Bilimler Dergisi, c. 20, sy. 2, 2018, ss. 37-54, doi:10.26468/trakyasobed.421105.
Vancouver Çetin MA, Bakırtaş İ. FİNANSAL GELİŞMİŞLİĞİN YENİLENEBİLİR ENERJİ TÜKETİMİ ÜZERİNDEKİ UZUN DÖNEMLİ ETKİLERİ: G-7 ÜLKELERİ ÖRNEĞİ. Trakya University Journal of Social Science. 2018;20(2):37-54.
Resim

Trakya Üniversitesi Sosyal Bilimler Dergisi Creative Commons Attribution 4.0 ile lisanslanmıştır.