KÜRESELLEŞMENİN ÇEVRESEL MALİYETİNİ ORTAYA ÇIKARMAK: APEC ÜLKELERİNDE TİCARETE AÇIKLIK, DYY VE CO2 EMİSYONLARI ÜZERİNE AMPİRİK BİR ANALİZ

Yıl 2024, Cilt: 22 Sayı: 3, 1 - 29, 03.10.2024

Gülşah (şentürk) Kocakaya

https://doi.org/10.11611/yead.1290935

https://izlik.org/JA34BK23HN

Öz

REVEALING THE ENVIRONMENTAL COST OF GLOBALIZATION: AN EMPIRICAL ANALYSIS ON TRADE OPENNESS, FDI, AND CO2 EMISSIONS IN THE APEC COUNTRIES

https://izlik.org/JA34BK23HN

Öz

Recently, the issue of how trade openness affects environmental degradation has gained importance. The fact that about 60% of the world's total CO2 emissions into the atmosphere are from APEC countries has made the economic activities of these countries a source of concern for the world. Although there have been many studies on the relationship between CO2 emissions and trade openness, there has yet to be a consensus. This study investigates how trade volume affects CO2 emissions in APEC countries, which account for a significant share of international trade volume and CO2 emissions. In addition, the empirical model of this research also investigates EKC. The panel data analysis method is used considering the data of APEC countries. According to the results, while trade openness increases CO2 emissions in APEC countries, FDI decreases CO2 emissions. Finally, EKC is valid in APEC countries from 1990 to 2016.

Anahtar Kelimeler

CO2 Emissions , APEC , Trade Openness , Panel Data Analysis , Environmental Kuznets Hypothesis , Pollution Haven Hypothesis

Kaynakça

• Acaravci, A. and Ozturk, I. (2010) “On the Relationship Between Energy Consumption, CO2 Emissions and Economic Growth in Europe”, Energy, 35(12): 5412–5420.
• Akinosoye, M. O., Sanni, M. A. and Adedeji, A. O. (2021) “The Impact of Trade Openness on Environmental Pollution: Evidence from Nigeria”, Environmental Science and Pollution Research, 1–14.
• Al-Mulali, U. and Sab, C. N. B. C. (2012) “The Impact of Energy Consumption and CO2 Emission on the Economic Growth and Financial Development in the Sub Saharan African Countries”, Energy, 39(1): 180–186.
• Al-Mulali, U. and Sheau-Ting, L. (2014) “Econometric Analysis of Trade, Exports, Imports, Energy Consumption and CO2 Emission in Six Regions”, Renewable and Sustainable Energy Reviews, 33: 484–498.
• Al-Mulali, U. and Tang, C. F. (2013) “Investigating the Validity of Pollution Haven Hypothesis in the Gulf Cooperation Council (GCC) Countries”, Energy Policy, 60: 813–819.
• Alper, Ö. (2018) “Ticari Açıklık, Ekonomik Büyüme, Şehirleşme ve Çevre İlişkisi”, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 23: 805–816.
• Amin, A., Aziz, B. and Liu, X. (2020) “The Relationship between Urbanization, Technology Innovation, Trade Openness, and CO2 Emissions: Evidence from a Panel of Asian Countries”, Environmental Science and Pollution Research, 27: 35349–35363.
• Amri, F. (2016) “The Eelationship amongst Energy Consumption, Foreign Direct Investment and Output in Developed and Developing Countries”, Renewable and Sustainable Energy Reviews, 64: 694–702.
• Ang, B. W. (2007) “CO2 Emissions, Energy Consumption, and Output in France”, Energy Policy, 35(10): 4772–4778.
• Antweiler W., Copeland B. R. and Taylor M.S. (2001) “Is Free Trade Good for the Environment?”, The American Economic Review, 91(4): 877–908.
• Apergis, N. and Payne, J .E. (2011) “On The Causal Dynamics between Emissions, Nuclear Energy, Renewable Energy, and Economic Growth”, Ecological Economics, 70(12): 2389–2395.
• Apergis, N. and Payne, J.E., (2014) “Renewable Energy, Output, CO2 Emissions, and Fossil Fuel Prices in Central America: Evidence from a Nonlinear Panel Smooth Transition Vector Error Correction Model”, Energy Economics, 42: 226–232.
• Apergis, N. and Ozturk, I. (2014) “Testing Environmental Kuznets Curve hypothesis in Asian Countries”, Ecological Indicators, 52: 16–22.
• Apergis, N. and Payne, J. (2010) “Renewable Energy Consumption and ECONOMIC GROWTH: EVIDENCE from a Panel of OECD Countries”, Energy Policy, 38(1): 656–660.
• Artan, S., Hayaloğlu, P., Seyhan, B. (2015) “Türkiye’de Çevre Kirliliği, Dışa Açıklık ve Ekonomik Büyüme İlişkisi”, Yönetim ve Ekonomi Araştırmaları Dergisi, 13(1): 308–325.
• Baltagi, B. H. (2021) “Econometric Analysis of Panel Data”, 6th Edition, Springer Texts in Business and Economics.
• Bento, J. P. and Moutinho, V. (2016) “CO2 Emissions, Non-Renewable and Renewable Electricity Production, Economic Growth, and International Trade in Italy”, Renewable and Sustainable Energy Reviews, 55(C): 142–155.
• Bisley, N. (2012) “APEC: Asia-Pacific Economic Cooperation”, M. Beeson, and R. Stubbs (eds.) Routledge Handbook of Asian Regionalism, 350–363, New York: Routledge.
• Bölük, G. and Mert, M. (2015) “Fossil & Renewable Energy Consumption, GHGs (Greenhouse Gases) and Economic Growth: Evidence from a Panel of EU (European Union) countries”, Energy, 93: 935–949.
• Brammer, S. and Pavelin, S. (2006) “Corporate Reputation and Social Performance: The Importance of Fit”, Journal of Management Studies, 43(3): 435–455.
• Burke, P. J., Yang, H. and Yao, X., (2010) “The Environmental Effects of International Trade: Evidence from a Naturally Occurring Experiment”, The Review of Economics and Statistics, 92(2): 302–321.
• Caviglia-Harris, J. L., Chambers, D. and Kahn, J. R. (2021) “Trade and Deforestation: A Global Meta-Analysis”, Ecological Economics, 182: 106917.
• Chakraborty, D., Mukherjee, S. and Rahman, M.M. (2020) “Revisiting the Environmental Kuznets Curve for the Role of Trade Openness and FDI Inflows”, Environmental Science and Pollution Research, 27(26): 32831–32842.
• Chandran, V. G. R. and Tang, C. F. (2013) “The Impacts of Transport Energy Consumption, Foreign Direct Investment and Income on CO2 Emissions in ASEAN-5 Economies”, Renewable and Sustainable Energy Reviews, 24: 445–453.
• Charfeddine, L. and Khediri, K. B. (2016) “Financial Development, Environmental Quality, Trade and Economic Growth: What Causes What in MENA countries?”, Energy Policy, 93: 11–28.
• Chebbi, H. E., Olarreaga, M., Zitouna, H. (2011) “Trade Openness and CO2 Emissions in Tunisia”, Middle East Development Journal, 3(1): 29–53.
• Chen, F., Jiang, G., Kitila, G. M. (2021) “Trade Openness and CO2 Emissions: The Heterogeneous and Mediating Effects for the Belt and Road Countries”, Sustainability, 13(4): 1958.
• Cole, M. A., Rayner, A. J., and Bates, J. M. (1997) “The Environmental Kuznets Curve: An Empirical Analysis”, Environment and Development Economics, 2(4): 401–416.
• Cole, M. A. and Elliott, R.J., (2003) “Determining the Trade-Environment Composition Effect: The Role of Capital, Labor and Environmental Regulations”, Journal of Environmental Economics and Management, 46(3): 363–383.
• Copeland, B. and Taylor, M. (1994) “North-South Trade and the Environment”, The Quarterly Journal of Economics, 109: 755–787.
• Cui, J.; Lapan, H.; Moschini, G.C. (2015) “Productivity, Export, and Environmental Performance: Air Pollutants in the United States”, American Journal of Agricultural Economics, 98: 66.
• Çoban, M. N. (2021) “Ticari Dışa Açıklık ve Çevresel Bozulma İlişkisi: LAIA Ülkeleri Üzerine Bir Analiz”, İktisadi ve İdari Bilimlerde Araştırma ve Değerlendirmeler I, M. Mete, A. Toptaş (Ed.), Ankara: Gece Kitaplığı.
• Çoban, M. N. and Özkan, O. (2022) “Türkiye’de Enerji Tüketimi, Ticari Açıklık, CO2 emisyonları ve Kirlilik Sığınağı Hipotezi: Yeni Dinamik ARDL Simülasyonlarından Kanıtlar”, Kırklareli Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 11(2): 480–507.
• Çoban, M. N. and Özkan, O. (2022) ‘‘Çevresel Kuznets Eğrisi: Türkiye'de Küreselleşme ve Ekonomik Büyümenin Çevre Üzerindeki Etkisinin Yeni Dinamik Ardl Simülasyon Modeli İle İncelenmesi’’, Akademik Hassasiyetler, 9(19): 207–228.
• Dauda, L., Long, X., Mensah, C. N., Salman, M. Boamah, K. B., Ampon-Wireko, S. and Dogbea, C. S. (2021) “Innovation, Trade Openness and CO2 Emissions in Selected Countries in Africa”, Journal of Cleaner Production, 281: 125–143.
• Dijkgraaf, E. and Vollebergh, H. R. (2005) “A Test for Parameter Homogeneity in CO2 Panel EKC Estimations. Environmental and Resource Economics”, 32: 229–239.
• Dinda, S. (2004) “Environmental Kuznets Curve Hypothesis: A Survey”, Ecological Economics, 49: 431–455.
• Dogan, E. and Seker, F. (2016) “Determinants of CO2 Emissions in the European Union: The Role of Renewable and Non-Renewable Energy”, Renewable Energy, 94: 429–439.
• Dong, K., Hochman, G., Zhang, Y., Sun, R., Li, H. and Liao, H. (2018) “CO2 Emissions, Economic and Population Growth, and Renewable Energy: Empirical Evidence across Regions”, Energy Econ 75: 180–192.
• Dong, L. and Wang, X. (2021) “The Impact of Trade Openness on CO2 Emissions in the Belt and Road Initiative Countries: a Panel Data Analysis”, Journal of Cleaner Production, 291: 125868.
• Dou, Y., Zhao, J., Malik, M. N. and Dong, K. (2021) “Assessing the Impact of Trade Openness on CO2 Emissions: Evidence from China-Japan-ROK FTA Countries”, Journal of Environmental Management, 296: 113241.
• Driscoll, J. C., and Kraay, A. C. (1998) “Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data”, The Review of Economics and Statistics, 80(4): 549–560.
• Essandoh, O. K., Islam, M. and Kakinaka, M. (2020) “Linking International Trade and Foreign Direct Investment to Co2 Emissions: Any Differences between Developed and Developing Countries?”, Science of The Total Environment, 712: 136437.
• Fang, H. and Wang, J., (2021) “Does Trade Openness Reduce Environmental Pollution? Evidence from China”, Journal of Cleaner Production, 297: 126706.
• Fang, J., Gozgor, G., Lu, Z. and Wu, W. (2019) “Effects of the Export Product Quality on Carbon Dioxide Emissions: Evidence from Developing Economies”, Environmental Science and Pollution Research, 26: 12181–12193.
• Frankel, J. A. and Rose, A.K. (2005) “Is Trade Good or Bad for the Environment? Sorting out the Causality”, The Review of Economics and Statistics, 87(1): 85–91.
• Gao, X., (2016) “Does Trade Liberalization Harm The Environment in China? A Meta-Analysis”, Ecological Indicators, 67: 683–691.
• Ghosh, S., Yadav, A.K. and Parhi, M. (2022) “Does International Trade Aggravate Environmental Degradation? Evidence from Emerging Market Economies”, Journal of Cleaner Production, 337: 130956.
• Gill, F. L., Viswanathan, K. K. and Karim, M. Z. (2018) “The Critical Review of the Pollution Haven Hypothesis”, International Journal of Energy Economics and Policy, 8 (1): 167–174.
• Grossman, G. M., and Krueger, A. B. (1991) “Environmental Impacts of a North American Free Trade Agreement”, NBER Working Paper, 3914.
• Grossman, G.M. and Krueger, A.B. (1995) “Economic Growth and the Environment”, The Quarterly Journal of Economics, 110(2): 353–377.
• Gupta, R., (2019) “Exploring the Link between Carbon Emissions, Energy Consumption, and Economic Growth: Empirical Evidence from South Asian Countries”, Journal of Cleaner Production, 208: 687–698.
• Hakimi, A. and Hamdi, H. (2016) “Trade Liberalization, FDI Inflows, Environmental Quality and Economic Growth: A Comparative Analysis between Tunisia and Morocco”, Renewable and Sustainable Energy Reviews, 58: 1445–1456.
• Hoffmann, R., Lee, C. G., Ramasamy, B. and Yeung, M. (2005) “FDI and Pollution: A Granger Causality Test Using Panel Data”, Journal of International Development, 17(3): 311–317.
• Hossain, M. S. (2011) “Panel Estimation for CO2 Emissions, Energy Consumption, Economic Growth”, Energy Policy, 39: 6991–6999.
• Inekwe, J. N., Bhattacharya, M. and Guncavdi, O., (2019) “Trade Openness and Environmental Quality in Sub-Saharan Africa: Evidence from Threshold Regression”, Environmental Science and Pollution Research, 26(10): 10166–10178.
• Breitung, J. and Candelon, B. (2006) “Testing for Short-And Long-Run Causality: A Frequency-Domain Approach”, Journal of Econometrics, 132(2): 363–378.
• Jaffe, A., Peterson, S., Portney, P. and Stavins, R. (1995) “Environmental Regulation and the Competitiveness of US Manufacturing: What does the Evidence Tell us?”, Journal of Economic Literature, 33: 132–163.
• Jamel, L. and Maktouf, S. (2017) “The Nexus between Economic Growth, Financial Development, Trade Openness, and CO2 Emissions in European Countries”, Cogent Economics & Finance, 5(1): 1341456.
• Jorgenson, A. K. (2009) “Foreign Direct Investment and The Environment, The Mitigating Influence of Institutional and Civil Society Factors, and Relationships between Industrial Pollution and Human Health: A Panel Study of Less-Developed Countries”, Organization & Environment, 22(2): 135–157.
• Kellenberg, D. K. and Levinson, A. (2017) “Waste of Effort? International Environmental Agreements”, Journal of the Association of Environmental and Resource Economists, 4(2): 367–399.
• Koc, S., and Bulus, G. C. (2020) “Testing Validity of the EKC Hypothesis in South Korea: Role of Renewable Energy and Trade Openness”, Environmental Science and Pollution Research, 27: 29043–29054.
• Kordestani, G. and Moshiri, S. (2021) “Analyzing the Effects of Trade Openness on CO2 Emissions in Developing Countries”, Environmental Science and Pollution Research, 28(14): 17711–17720.
• Kuznets, S. (1955) “Economic Growth and Income Inequality”, The American Economic Review, 45(1): 1–28. Lee, H. H. and Roland-Holst, D. W., (2009) “Environmental Regulation and Its Impact on the Competitiveness of Industries: a Port Case Study”, Journal of environmental management, 90(1): 652–660.
• Lee, J. W., Strazicich, M. C. and Yu, J., (2014) “Environment Kuznets Curve, Trade, and FDI: a Panel Data Analysis”, Environmental Economics and Policy Studies, 16(2): 131–148.
• Li, B. and Haneklaus, N. (2022) “The Role of Clean Energy, Fossil Fuel Consumption and Trade Openness for Carbon Neutrality in China”, Energy Reports, 8(4): 1090–1098.
• Li, J., Chen, X. and Liu, M. (2018) “The Impact of Trade Openness on China's Carbon Dioxide Emissions: Evidence from a New Quantitative Index”, Journal of Cleaner Production, 202: 1136–1148.
• Li, W., Liang, Q. and Huang, C. (2017) “The Relationship between FDI, Energy Consumption and Carbon Emissions: Evidence from Middle-Income Countries”, Renewable and Sustainable Energy Reviews, 71: 83–93.
• Liddle, B. and Lung S. (2010) “Age-Structure, Urbanization, And Climate Change in Developed Countries: Revisiting STIRPAT for Disaggregated Population and Consumption-Related Environmental Impacts”, Population and Environment, 31, 317–343.
• Lourdes, M. (2022) “The Impact of International Trade on Environmental Quality: Empirical Evidence from Asian Developing Countries”, Journal of Cleaner Production, 342: 130220.
• Lv, Z., Xu, T. (2018) “Trade Openness, Urbanization and CO2 Emissions: Dynamic Panel Data Analysis of Middle-Income Countries”, The Journal of International Trade & Economic Development, 28(3): 1–14.
• Mahmood, H., Maalel, N., and Zarradet, O. (2019) “Trade Openness and CO2 Emissions: Evidence from Tunisia”, Sustainability, 11: 3295.
• Managi, S., Hibiki, A., and Tsurumi, T. (2009) “Does Trade Openness Improve Environmental Quality?”, Journal of Environmental Economics and Management, 58(3): 346–363.
• Menyah, K. and Wolde-Rufael, Y., (2010) “Energy Consumption, Pollutant Emissions and Economic Growth in South Africa”, Energy Economics, 32(6): 1374–1382.
• Muhammad, A.S., Nazir, M.S., Bukhari, S.K. and Naseer, M.M., (2021) “The Impact of Economic Globalization and Trade Openness on Carbon Emissions in South Asian Economies”, Environmental Science and Pollution Research, 1–13.
• Mutascu, M. (2018) “A Time-Frequency Analysis of Trade Openness and CO2 Emissions in France”, Energy Policy, 115: 443–455.
• Neumayer, E. (2002) “Do Democracies Exhibit Stronger International Environmental Commitment? A Cross-country Analysis”, Journal of Peace Research, 39(2): 139–164.
• Oktavilia, S. and Firmansyah, F. (2016) “The Relationships of Environmental Degradation and Trade Openness in Indonesia”, International Journal of Finance & Economics, 6: 125–129.
• Özkan, O. and Çoban, M. N. (2022) “Türkiye’de Kirlilik Hale Hipotezi ve Ekonomik Büyüme, Ekonomik Küreselleşme Ve Ekolojik Ayak İzi Bağlantısı: KRLS’den Kanıtlar”, Uluslararası Yönetim İktisat ve İşletme Dergisi, 18(4): 1049–1068.
• Özkan, O., Çoban, M. N., Iortile, I. B. and Usman, O. (2023) “Reconsidering the Environmental Kuznets Curve, Pollution Haven, and Pollution Halo Hypotheses With Carbon Efficiency in China: A Dynamic ARDL Simulations Approach”, Environmental Science and Pollution Research, 30: 68163–68176.
• Özkan, O., Sharif, A., Mey, L. S., Tiwari, S. (2023) “The Dynamic Role of Green Technological Innovation, Financial Development and Trade Openness on Urban Environmental Degradation in China: Fresh Insights from Carbon Efficiency”, Urban Climate, 52: 101679.
• Panayotou, T. (1993) “Empirical Tests and Policy Analysis of Environmental Degradation at Different Stages of Economic Development”, Geneva, International Labor Office World Employment Programme Research Working Paper.
• Pao, H. T. and Tsai, C. M. (2011) “Modeling and Forecasting the CO2 Emissions, Energy Consumption, and Economic Growth in Brazil”, Energy, 36(5): 2450–2458.
• Park, Y., Meng, F. and Baloch, M. A. (2018) “The Effect of ICT, Financial Development, Growth, and Trade Openness on CO2 Emissions: an Empirical Analysis”, Environmental Science and Pollution Research, 25: 30708–30719.
• Pazienza, P. (2015) “The Environmental Impact of the FDI Inflow in the Transport Sector of OECD Countries and Policy Implications”, International Advances in Economic Research, 1: 105–116.
• Porter, M. E. and Linde, C. V. (1995) “Toward a New Conception of the Environment-Competitiveness Relationship”, The Journal of Economic Perspectives, 9(4): 97–118.
• Rafindadi, A. A. and Usman, O. (2019) “Globalization, Energy Use, and Environmental Degradation in South Africa: Startling Empirical Evidence from the Maki-Cointegration Test”, Journal of Environmental Management, 244: 265–275.
• Rahman, M. M., Saidi, K. and Mbarek, M. B. (2020) “Economic Growth in South Asia: the Role of CO2 Emissions, Population Density and Trade Openness”, Heliyon, 6(5): e03903.
• Ramasamy, M., Lo, S. W., Xie, Z. and Islam, M. A. (2021) “Environmental Policies, Trade Openness and CO2 Emissions: Evidence from 74 countries”, Energy Policy, 149: 112081.
• Salahodjaev, R., Sharipov, K., Rakhmanov, N. and Khabirov, D. (2021) “Tourism, Renewable Energy and CO2 Emissions: Evidence from Europe and Central Asia”, Environment, Development and Sustainability, 24: 13282–13293.
• Salman, M., Long, X., Dauda, L., Mensah, C. N. and Muhammad, S. (2019) “Different Impacts of export and Import on Carbon Emissions across 7 ASEAN Countries: A Panel Quantile Regression Approach”, Science of The Total Environment, 686: 1019–1029.
• Schmalensee, R., Josko, P. L., Ellerman, A. D., Montero, J. P. and Bailey, E. M. (1998) “An Interim Evaluation of Sulfur Dioxide Emissions Trading”, Journal of Economic Perspectives, 12(3): 53–68.
• Seker, F., Ertugrul, H. M. and Cetin, M. (2015) “The Impact of Foreign Direct Investment on Environmental Quality: A Bounds Testing and Causality Analysis for Turkey”, Renewable and Sustainable Energy Reviews, 52: 347–356.
• Shafik, N. (1994) “Economic Development and Environmental Quality: An Econometric Analysis”, Oxford Economic Papers, 46: 757–773.
• Shafik, N. and Bandyopadhyay, S., (1992) “Economic Growth and Environmental Quality: Time Series and Cross-Country Evidence”, Policy Research Working Paper Series, 904.
• Shahbaz, M., Loganathan, N., Muzaffar, A. T., Ahmed, K. and Jabran, M. A. (2016) “How Urbanization Affects CO2 Emissions in Malaysia? The Application of STIRPAT Model”, Renewable and Sustainable Energy Reviews, 57(C): 83–93.
• Shahbaz, M., Nasir, M. A. and Roubaud, D. (2018) “Environmental Degradation in France: The Effects of FDI, Financial Development, and Energy Innovations”, Energy Economics, 74: 843–857.
• Shahbaz, M., Shahzad, S. J. H., Mahalik, M. K. and Sato, J. R., (2019) “Globalization and the Environment in the presence of Cross-Sectional Dependence: A Panel LM Unit Root Test With One Structural Break”, Energy Economics, 81: 1069–1088.
• Shahbaz, M., Solarin, S. A., Hammoudeh, S. and Shahzad, S.J.H., (2017) “Bounds Testing Approach to Analyzing the Environment Kuznets Curve Hypothesis With Structural Beaks: The Role of Biomass Energy Consumption in the United States”, Energy Economics, 68: 548-565.
• Shahbaz, M., Tiwari, A. K., and Nasir, M. (2013) “The Effects of Financial Development, Economic Growth, Coal Consumption and Trade Openness on CO2 emissions in South Africa”, Energy Policy, 61: 1452–1459.
• Shahzad, S.J.H.; Kumar, R.R.; Zakaria, M.; Hurr, M. (2017) “Carbon Emission, Energy Consumption, Trade Openness and Financial Development in Pakistan: A Revisit”, Renewable & Sustainable Energy Reviews, 70: 185–192.
• Simplice A., A., (2018) “Does Globalization Promote CO2 Emissions? Evidence from a New Threshold Analysis”, Energy Economics, 75: 494–500.
• Sinha, A., and Sengupta, T. (2019) “Impact of Energy Mix on Nitrous Oxide Emissions: An Environmental Kuznets Curve approach for APEC countries”, Environmental Science and Pollution Research, 26(3): 2613–2622.
• Stern, D. I. (2004) “Environmental Kuznets Curve”, Encyclopedia of Energy, 517–525.
• Stern, D.I., (2004) “The Rise and Fall of the Environmental Kuznets Curve”, World Development, 32(8): 1419–1439. Tang, C. F. and Tan, B. W. (2015) “The Impact of Energy Consumption, Income and Foreign Direct Investment on Carbon Dioxide Emissions in Vietnam”, Energy, 79: 447–454.
• Tobey, J. A. (1990) “The Effects of Domestic Environmental Policies on Patterns of World Trade: an Empirical Test”, Kyklos, 43(2): 191–209.
• Uddin, G. A., Alam, K. and Gow, G. (2016) “Estimating the Major Contributors to Environmental Impacts in Australia”, International Journal of Ecological Economics and Statistics, 37(1): 1–14.
• Usman, O., Akadiri, S. S. and Adeshola, İ. (2020) “Role of Renewable Energy and Globalization on Ecological Footprint in the USA: İmplications for Environmental Sustainability”, Environmental Science and Pollution Research, 27: 30681–30693.
• Voss, S., Stark, J. and Yasar, M. (2016) “Trade and the Environment: Evidence from China's WTO Accession Episode”, Journal of Environmental Economics and Management, 76: 86–106.
• Wagner, M., (2018) “The Carbon Footprint of Trade: Assessing the Carbon Leakage Hypothesis”, Environmental and Resource Economics, 70(1): 61–84.
• Wang, P., Wu, W., Zhu, B. and Wei, Y. (2013) “Examining the Impact Factors of Energy-Related CO2 Emissions Using The STIRPAT Model in Guangdong Province, China”, Applied Energy, 106, 65–71.
• Wang, X., Zhang, Y. and Li, X. (2021) “Trade Openness and Environmental Pollution in China: A Spatial Econometric Analysis”, Journal of Cleaner Production, 309: 127280.
• Wang, Y. and Han, R. (2015) “Carbon Emissions, Energy Consumption and Environmental Degradation in China”, Journal of Cleaner Production, 103: 86–296.
• Wang, Z., Pham, T. H., Sun, K., Wang, B., Bui, Q. and Hashemizadeh, A. (2022) “The Moderating Role of Financial Development in The Renewable Energy Consumption - CO2 Emissions Linkage: The Case Study of Next-11 Countries”, Energy, 254, 124386.
• Yerdelen, F. (2020) “Panel Veri Ekonometrisi: Stata Uygulamalı”, İstanbul, Beta Yayınevi.
• Yoro, K. O. and Daramola, M. O. (2020) “CO2 Emission Sources, Greenhouse Gases, and the Global Warming Effect”, M. R. Rahimpour, M. Farsi, M. A. Makarem (eds), Advances in Carbon Capture, 3–28, Sawston, Woodhead Publishing.
• Zhang, C., (2019) “The Nexus of Carbon Emissions, Financial Development and Economic Growth in Saudi Arabia: Evidence from a PSTR model”, Journal of Cleaner Production, 213: 522–532.
• Zhang, Y. J., Jin, Y. L., Chevallier, J. and Shen, B. (2016) “The Effect of Corruption on Carbon Dioxide Emissions in APEC countries: A Panel Quantile Regression Analysis”, Technological Forecasting and Social Change, 112: 202–227.
• Zhang, C. and Zhou, X. (2016) “Does Foreign Direct Investment Lead To Lower CO2 Emissions? Evidence from a Regional Analysis in China”, Renewable and Sustainable Energy Reviews, 58: 943–951.
• Zhang, Y. and Zhang, S. (2018) “The Impacts of GDP, Trade Structure, Exchange Rate and FDI Inflows on China's Carbon Emissions”, Energy Policy, 120, 347–353.
• Zhu, H., Duan, L., Guo, Y. and Yu, K. (2016) “The Effects of FDI, Economic Growth and Energy Consumption on Carbon Emissions in ASEAN-5: Evidence from Panel Quantile Regression”, Economic Modelling, 58: 237–248.