Research Article
BibTex RIS Cite

G-20 Ülkelerinde Doğrudan Yabancı Yatırımlarının Yenilenebilir Enerji Tüketiminin Dış Ticaretin ve Finansal Gelişmişliğin Karbondioksit Salınımı ile İlişkisi: 1990-2020

Year 2023, Volume: 6 Issue: 2, 37 - 60

Burçin Çakır Gündoğdu

https://doi.org/10.53804/izlek.1408228

Abstract

İklim değişikliğinin doğrudan yabancı yatırımlar, yenilenebilir enerji tüketimi, dış ticaret ve finansal gelişmişlik düzeyi üzerindeki etkilerini incelemeyi amaçlayan bu çalışmada Türkiye, Çin, Meksika, Hindistan, Fransa, Amerika Birleşik Devletleri, Arjantin ve Brezilya ülkeleri incelenmektedir. 1990-2020 zaman aralığı ele alınarak yapılan çalışmada serilerin yatay kesit bağımlılığının bulunduğu ve heterojen yapıya sahip olduğu gözlenmiştir. Bu bilgiler ışığında serilere Madfuller, CADF ve CIPS ikinci nesil panel birim kök testleri uygulanmıştır. Seriler arasındaki nedensellik ilişkisini araştırmak amacıyla Dumitrescu ve Hurlin (2012) Panel Nedensellik Analizi uygulanmıştır. Elde edilen bulgular iklim değişikliğinin bir göstergesi olan bağımlı değişken karbondioksit salınımının, dış ticaret, finansal gelişmişlik endeksi, doğrudan yabancı yatırımlar ve yenilenebilir enerji tüketimi ile çift yönlü nedensellik ilişkisine sahip olduğunu göstermiştir. Çalışma ayrıca, iklim değişikliğinin olumsuz etkilerini en aza indirgemek amacıyla ele alınan değişkenlerin, sadece makroekonomik bir değişken değil, aynı zamanda çevreyi koruma politikalarının da bir aracı olarak görülebileceğinin altını çizmektedir.

Keywords

İklim Değişikliği Dış ticaret Finansal Gelişmişlik Endeksi Yenilenebilir Enerji Tüketimi Dumitrescu ve Hurlin (2012) Nedensellik Testi

References

  • ABASOV, F., & ÜÇLER, G. (2022). Doğrudan Yabancı Yatırımlar ve Çevre Kirliliği İlişkisi: Türkiye için Doğrusal Olmayan Yumuşak Geçiş Modellerinden Ampirik Kanıtlar. Kırşehir Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 6(1), 1.
  • AHMAD, F., DRAZ, M. U., SU, L., & RAUF, A. (2019). Taking the bad with the good: The nexus between tourism and environmental degradation in the lower middle-income Southeast Asian economies. Journal of Cleaner Production, 233, 1240-1249.
  • AKÇAY, S., & KARASOY, A. (2018). Doğrudan Yabancı Yatırımlar ve Karbondioksit Emisyonu İlişkisi: Türkiye Örneği. Ankara Üniversitesi SBF Dergisi, 73(2), 501 – 526.
  • AKDAĞ, S., & YILDIRIM, H. (2020). Toward a sustainable mitigation approach of energy efficiency to greenhouse gas emissions in the European countries. Heliyon, 6( 3), 8.
  • ALOLA, A. A., ALOLA, U. V., AKDAG, S., & YILDIRIM, H. (2022). The role of economic freedom and clean energy in environmental sustainability: implication for the G-20 economies. Environmental Science and Pollution Research, 29(24), 36608-36615.
  • APERGIS, N., PINAR, M., & UNLU, E. (2023). How do foreign direct investment fows afect carbon emissions in BRICS countries? Revisiting the pollution haven hypothesis using bilateral FDI fows from OECD to BRICS countries. Environmental Science and Pollution Research, 30,14680-14692.
  • BALTAGI, B. D., KAO, C., & PENG, B. (2016). Testing Cross-Sectional Correlation in Large Panel Data Models with Serial Correlation. MDPI, 4(4), 44.
  • BEKUN, F. V. ALOLA, A. A., & SAMUEL, A.S.(2019). Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Science of The Total Environment, 657, 1023-1029.
  • BEKUN, F. V., GYAMFI, B. A., ETOKOKPAN, M. U. & ÇAKIR, B. (2023). Revisiting the pollution haven hypothesis within the context of the environmental Kuznets curve. International Journal of Energy Sector Management. Emerald Publishing Limited, 17(6),1750-6220.
  • BEKUN, F. V., ALOLA, A. A., & SARKODIE, S. A. (2019). Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Science of the Total Environment, 657,1023-1029.
  • CHAUDHRY, I. S., YIN, W., ALI, S. A., FAHEEM, M., ABBAS, Q., FAROOQ, F., & REHMAN, S.U. (2022). Moderating role of institutional quality in validation of pollution haven hypothesis in BRICS: a new evidence by using DCCE approach. Environment Science Pollution Research, 29, 9193–9202.
  • CHAKRABORTY, D., & MUKHERJEE, S. (2013). Do Foreign Trade and Investment Lead to Higher CO2 Emissions? Evidence from Cross Country Empirical Estimates. Review of Market Integration, 5(3), 329-361.
  • CHANDIO, A. A., JIANG, Y., RAUF, A., MIRANI, A. A., SHAR, R. U., AHMAD, F., & SHEHZAD, K. (2019). Does energy-growth and environment quality matter for agriculture sector in Pakistan or not? An application of cointegration approach. Energies, 12(10), 1879.
  • CHEN, J., TAN, H., & MA, Y. (2022). Distinguishing the Complex Effects of Foreign Direct Investment on Environmental Pollution: Evidence from China. The Energy Journal, 43(4), 27-44.
  • CHUDIK, A., & PESARAN, M. H. (2013). Large Panel Data Models with Cross-Sectional Dependence: A Survey. Federal Reserve Bank of Dallas Globalization and Monetary Policy Institute Working Paper, No. 153.
  • COPELAND, B. R., & TAYLOR, M. S. (2003). Trade, growth and the environment. Cambridge: NBER Working Papers.
  • COUNCIL ON FOREIGN RELATIONS. (2023). What Does the G20 Do?. https://www.cfr.org/backgrounder/what-does-g20-do, Erişim Tarihi: 21.01.2024
  • DARWEESH, F. KHUDARI, M., & OTHMAN, N. S.(2023). The relationship between financial development and carbon emissions: a systematic review. International Journal of Professional Business Review.8(7), 2525-3654.
  • DAOUD, J. (2017). Multicollinearity and Regression Analysis. Journal of Physics: Conference Series. 949(4), 1-7.
  • DOĞAN, E., & DOĞAN, B. Ö. (2021). Finansal gelişme ve inovasyon, Türkiye’de yenilenebilir enerji üretimini artırıyor mu? Turkish Studies - Economy, 16(2), 783-797.
  • DOGAN, E., & SEKER, F. (2016). The influence of real output, renewable and non-renewable energy, trade and financial development on carbon emissions in the top renewable energy countries. Renew. Sust. Energ. Rev. 60, 1074–1085.
  • DU, K., YU, Y., & LI, J. (2020). Does international trade promote CO2 emission performance? An empirical analysis based on a partially linear functional-coefficient panel data model. Energy Economics , 92,104983.
  • DUMITRESCU, E., & HURLIN, C. (2012). Testing For Granger Non-Causality in Heterogeneous Panels. Economic Modelling, 29(4); 1450-1460.
  • ESSANDOH, O. K., ISLAM, M., & KAKINAKA, M. (2020). Linking international trade and foreign direct investment to CO2 emissions: Any differences between developed and developing countries? Science of the Total Enviroment, 712,136437.
  • EYYÜBOĞLU, K., AKDAĞ, S., YILDIRIM, H., & ALOLA, A. A. (2022). The causal trend of energy intensity and urbanization in emerging countries. Letters in Spatial and Resource Sciences, 15(3), 653-663.
  • FAUZEL, S. (2017). The impact of FDI on CO2 emission in a small island developing state: Acointegration approach. Economics and Business Letters. 6(1), 6-13.
  • FU, Q., WANG, J., XIANG, Y., YASMEEN, S., & ZOU, B. (2022). Does financial development and renewable energy consumption impact on environmental quality: A new look at China’s economy. Front. Psychol. 13: 905270.
  • GORGIJ, M. & SHAHRAKI, M. (2022). The impact of financial development and environmental quality on health status: Evidence from the Middle East and North Africa (MENA) countries. Payesh, 21(6),593-603.
  • GUO, Y. (2021). Financial Development and Carbon Emissions: Analyzing the Role of Financial Risk, Renewable Energy Electricity, and Human Capital for China. Hindawi . Discrete Dynamics in Nature and Society, 2021(2021), 1-8.
  • GÜRİŞ, S. (2018). Uygulamalı Panel Veri Ekonometrisi. İstanbul: Der Yayınları.
  • HUANG, Y., CHEN, F., WEI, H., XIANG, J., & XU, Z. (2022). The Impacts of FDI Inflows on Carbon Emissions: Economic Development and Regulatory Quality as Moderators. Front. Energy Research, 9, 820596.
  • HUSSAIN, M., REHMAN, R. U., & BASHIR, U. (2023).Environmental pollution, innovation, and financial development: an empirical investigation in selected industrialized countries using the panel ARDL approach. Environment, Development and Sustainability.
  • INTERNATIONAL ENERGY AGENCY. (2024). Data and statistics. https://www.iea.org/data-and-statistics, Erişim Tarihi: 21.01.2024
  • KASMAN, A., & DUMAN, Y. S. (2015). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: A panel data analysis. Economic Modelling. 44, 97-103.
  • KHAN, Z. U., AHMAD M., & KHAN, A.(2020). On the remittances-environment led hypothesis: empirical evidence from BRICS economies. Environmental Science Pollution Research, 27(14),16460–16471
  • KILIÇARSLAN, Z., & DUMRUL, Y. (2017). Foreign Direct Investments and CO2 Emissions Relationship: The Case of Turkey. Business and Economics Research Journal, 8(4), 647-660.
  • KYRIAKOPOULOU, D., KYRIACOU, G. & PEARSON, G. (2023). How does trade contribute to climate change and how can it advance climate action? The London School of Economics and Political Science. https://www.lse.ac.uk/granthaminstitute/explainers/how-does-trade-contribute-to-climate-change-and-how-can-it-advance-climate-action/,Erişim Tarihi:23.01.2024
  • LI, K., HU, E., XU, C., MUSAH, M., KONG, Y., MENSAH, I.A, ZU,J., JIANG,W.,& SU,Y.(2021). A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries. Energy Exploration & Exploitation. 39(3), 815-837.
  • LIU, G., KHAN, M. HAIDER, A., & UDDIN, M. (2022). Financial Development and Environmental Degradation: Promoting Low-Carbon Competitiveness in E7 Economies’ Industries. Int. J. Environ. Res. Public Health, 19(23), 16336.
  • LIU, S. & ZHANG, P. (2022). Foreign Direct Investment and Air Pollution in China: Evidence from the Global Financial Crisis. The Developing Economies, 60(1), 30-61.
  • LIU, X. & LIU, X. (2021). Can Financial Development Curb Carbon Emissions? Empirical Test Based on Spatial Perspective. Sustainability, MDPI, 13(21), 1-19.
  • MALIK, M. Y., LATIF, K., KHAN, Z., BUTT, H. D., HUSSAIN, M., & NADEEM, M. A. (2020). Symmetric and asymmetric impact of oil price, FDI and economic growth on carbon emission in Pakistan: Evidence from ARDL and non-linear ARDL approach. Science of The Total Environment, 726, 138421.
  • MERT, M., & ÇAĞLAR, A. E. (2020). Testing pollution haven and pollution halo hypotheses for Turkey: a new perspective. Environmental Science and Pollution Research, 27, 32933–32943.
  • MARQUES, A. C., & CAETANO, R. (2020). The impact of foreign direct investment on emission reduction targets: Evidence from high- and middle-income countries. Structural Change and Economic Dynamics, 55, 107-118.
  • MOHAMMED, A. Y. M. A. (2018). International Trade and its Impact on CO2 Emission: Empirical Study of Bahrain. International Journal of Academic Research in Business and Social Sciences, 8(2), 310–325.
  • NKENGFACK, H., & FOTIO, H. K. (2019). Energy Consumption, Economic Growth and Carbon Emissions: Evidence from the Top Three Emitters in Africa. Modern Economy, 10(1), 52-71.
  • OWUSU, P. & ASUMADU-SARKODIE, S. (2016). A review of renewable energy sources, sustainability issues and climate change mitigation. Cogent Engineering, 3,1167990.
  • PESARAN, H. (2004), “General Diagnostic Tests For Cross Section Dependence in Panels”, Cambridge Working Papers in Economics Working Paper, 435.
  • PESARAN, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics,22(2), 265-312.
  • PESARAN, M. H., & YAMAGA, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50–93.
  • PERONE, G. (2024). The relationship between renewable energy production and CO2 emissions in 27 OECD countries: A panel cointegration and Granger non-causality approach. Journal of Cleaner Production. 434(1), 25.
  • QAYYUM, M., ALI, M., NIZAMANI, M. M., LI, S., & YU, Y. (2021). Nexus between Financial Development, Renewable Energy Consumption, Technological Innovations and CO2 Emissions: The Case of India. Energies, 14(15), 4505.
  • RAFINDADI, A. A., MUYE, I. M., & KAITA, R. A. (2018). The effects of FDI and energy consumption on environmental pollution in predominantly resource-based economies of the GCC. Sustainable Energy Technologies and Assessments. 25, 126-137.
  • RAZA, S. S., & HUSSAIN, A. (2016). The Nexus of Foreign Direct Investment, Economic Growth and Environment in Pakistan. The Pakistan Development Review, 55 (2), 95-111.
  • RAZA, S. A. & SHAH, N. (2018). Impact of Financal Development, Economic Growth and Energy Consumption on Environmental Degradation: Evidence from Pakistan. IQRA University. MPRA Paper, N.87095.
  • RESPITAWULAN, A., & RAHAYU, A. (2019). The Role of Renewable Energy to Reduce Climate Change:Perspective of Policy Content and Context. IOP Conf. Series: Earth and Environmental Science, 328, 012005.
  • RAUF, A., LIU, X., AMIN, W., REHMAN, O., LI, J., AHMAD, F.,& BEKUN, F. (2020). Does sustainable growth, energy consumption and environment challenges matter for Belt and Road Initiative feat? A novel empirical investigation. Journal of Cleaner Production, 262 (2020, 121344.
  • SALOUN, K., & CERDA, E. (2019). Climate change impacts on renewable energy generation. A review of quantitative projections. Renewable and Sustainable Energy Reviews. 116, 109415.
  • SHAHBAZ, M., NASREEN, S., ABBAS, F., & ANIS, O. (2015). Does Foreign Direct Investment Impede Environmental Quality in High-, Middle-, and Low Income Countries? Energy. Economics. 51, 275–287.
  • SHARMA, S. (2019). Trade, Foreign Direct Investment,and Pollution Abatement. Asian Development Bank Institute. No. 1003.
  • SHAO, Q., WANG, X., ZHOU, Q., & BALOGH, L. (2019) .Pollution haven hypothesis revisited: a comparison of the BRICS and MINT countries based on VECM approach. Journal of Cleaner Production, 227, 724–738.
  • SSALI, M. W., DU, J., MENSAH, I., & HONGO, D.(2019). Investigating the nexus among environmental pollution, economic growth, energy use, and foreign direct investment in 6 selected sub-Saharan African countries. Springer, 26, 11245–11260.
  • OMRI, A., NGUYEN, D., & CHRISTOPHE, R. (2014). Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models, Economic Modelling. Elsevier, 42(2014), 382-389.
  • QAYYUM, M., ALİ, M., NIZAMANI, M. M., LI, S., & YU, Y. (2021). Nexus between Financial Development, Renewable Energy Consumption, Technological Innovations and CO2 Emissions: The Case of India. Energies, 14(15), 4505.
  • USMAN, M., YASEEN, M. KOUSAR, R., & MAKHDUM, A. (2021). Modelingfinancial development, tourism, energy consumption,and environmental quality: Is there any discrepancy between developing and developed countries? Environmental Science and Pollution Research, 28(41), 58480-58501.
  • WANG, Z., HOA, P., SUN, K. HASHEMIZADEH, A., & BUI, Q. (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.
  • WANG, J., ZHANG, S., & ZHANG, Q. (2022). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897-904.
  • YUNFENG, Y., & LAIKE, Y. (2010). China's foreign trade and climate change: A case study of CO2 emissions," Energy Policy, Elsevier, 38(1), 350-356.
  • YILMAZER, M., & KARABİBER, B. (2022). Türkiye’de İhracat, Doğrudan Yabancı Yatırımlar, Ekonomik Büyüme ve Karbon Emisyonu İlişkisi. Business and Economics Research Journal, 13(2),199-220.
  • YILDIRIM, H., & AKDAĞ, S. (2022). Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi, 17(66), 658-671.
  • YI, J., HOU, Y., & ZHANG, Z. (2023). The impact of foreign direct investment (FDI) on China's manufacturing carbon emissions. Innovation and Green Development, 2(4),100086.
  • YERDELEN TATOĞLU, F. (2020). Panel Zaman Serileri Analizi. İstanbul: Beta Yayıncılık. s.105. ZHAO, Q., & SU, C. (2023). The Nexus Between Air Pollution and Outward Foreign Direct Investment. Sage Journals, 13(1),1-11.
  • ZHANG, L., & GAO, J.(2016). Exploring the effects of international tourism on China's economic growth, energy consumption and environmental pollution: Evidence from a regional panel analysis. Renewable and Sustainable Energy Reviews. 53, 225-234.

The Relationship of Foreign Direct Investments, Renewable Energy Consumption, Foreign Trade and Financial Development with Carbon Dioxide Emission in G-20 Countries: 1990-2020

Year 2023, Volume: 6 Issue: 2, 37 - 60

Burçin Çakır Gündoğdu

https://doi.org/10.53804/izlek.1408228

Abstract

In this study, which aims to examine the effects of climate change on foreign trade, financial development index, foreign direct investments and renewable energy consumption, the countries of Turkey, China, Mexico, India, France, the US, Argentina and Brazil are examined. In the study conducted considering the 1990-2020 time period, it was observed that the series had cross-sectional dependence and had a heterogeneous structure. In the light of this information, Madfuller, CADF and CIPS second generation panel unit root tests were applied to the series. Dumitrescu and Hurlin (2012) Panel Causality Analysis was applied to investigate the causality relationship between the series. The findings showed that the dependent variable carbon dioxide emissions, which is an indicator of climate change, has a bidirectional causal relationship with foreign trade, financial development index, foreign direct investments and renewable energy consumption. The study also underlines that the variables considered to minimize the negative effects of climate change can be seen not only as a macroeconomic variable but also as a tool of environmental protection policies.

Keywords

Climate Change Foreign Trade Financial Development Index Renewable Energy Consumption Dumitrescu and Hurlin (2012) Causality Test

References

  • ABASOV, F., & ÜÇLER, G. (2022). Doğrudan Yabancı Yatırımlar ve Çevre Kirliliği İlişkisi: Türkiye için Doğrusal Olmayan Yumuşak Geçiş Modellerinden Ampirik Kanıtlar. Kırşehir Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 6(1), 1.
  • AHMAD, F., DRAZ, M. U., SU, L., & RAUF, A. (2019). Taking the bad with the good: The nexus between tourism and environmental degradation in the lower middle-income Southeast Asian economies. Journal of Cleaner Production, 233, 1240-1249.
  • AKÇAY, S., & KARASOY, A. (2018). Doğrudan Yabancı Yatırımlar ve Karbondioksit Emisyonu İlişkisi: Türkiye Örneği. Ankara Üniversitesi SBF Dergisi, 73(2), 501 – 526.
  • AKDAĞ, S., & YILDIRIM, H. (2020). Toward a sustainable mitigation approach of energy efficiency to greenhouse gas emissions in the European countries. Heliyon, 6( 3), 8.
  • ALOLA, A. A., ALOLA, U. V., AKDAG, S., & YILDIRIM, H. (2022). The role of economic freedom and clean energy in environmental sustainability: implication for the G-20 economies. Environmental Science and Pollution Research, 29(24), 36608-36615.
  • APERGIS, N., PINAR, M., & UNLU, E. (2023). How do foreign direct investment fows afect carbon emissions in BRICS countries? Revisiting the pollution haven hypothesis using bilateral FDI fows from OECD to BRICS countries. Environmental Science and Pollution Research, 30,14680-14692.
  • BALTAGI, B. D., KAO, C., & PENG, B. (2016). Testing Cross-Sectional Correlation in Large Panel Data Models with Serial Correlation. MDPI, 4(4), 44.
  • BEKUN, F. V. ALOLA, A. A., & SAMUEL, A.S.(2019). Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Science of The Total Environment, 657, 1023-1029.
  • BEKUN, F. V., GYAMFI, B. A., ETOKOKPAN, M. U. & ÇAKIR, B. (2023). Revisiting the pollution haven hypothesis within the context of the environmental Kuznets curve. International Journal of Energy Sector Management. Emerald Publishing Limited, 17(6),1750-6220.
  • BEKUN, F. V., ALOLA, A. A., & SARKODIE, S. A. (2019). Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Science of the Total Environment, 657,1023-1029.
  • CHAUDHRY, I. S., YIN, W., ALI, S. A., FAHEEM, M., ABBAS, Q., FAROOQ, F., & REHMAN, S.U. (2022). Moderating role of institutional quality in validation of pollution haven hypothesis in BRICS: a new evidence by using DCCE approach. Environment Science Pollution Research, 29, 9193–9202.
  • CHAKRABORTY, D., & MUKHERJEE, S. (2013). Do Foreign Trade and Investment Lead to Higher CO2 Emissions? Evidence from Cross Country Empirical Estimates. Review of Market Integration, 5(3), 329-361.
  • CHANDIO, A. A., JIANG, Y., RAUF, A., MIRANI, A. A., SHAR, R. U., AHMAD, F., & SHEHZAD, K. (2019). Does energy-growth and environment quality matter for agriculture sector in Pakistan or not? An application of cointegration approach. Energies, 12(10), 1879.
  • CHEN, J., TAN, H., & MA, Y. (2022). Distinguishing the Complex Effects of Foreign Direct Investment on Environmental Pollution: Evidence from China. The Energy Journal, 43(4), 27-44.
  • CHUDIK, A., & PESARAN, M. H. (2013). Large Panel Data Models with Cross-Sectional Dependence: A Survey. Federal Reserve Bank of Dallas Globalization and Monetary Policy Institute Working Paper, No. 153.
  • COPELAND, B. R., & TAYLOR, M. S. (2003). Trade, growth and the environment. Cambridge: NBER Working Papers.
  • COUNCIL ON FOREIGN RELATIONS. (2023). What Does the G20 Do?. https://www.cfr.org/backgrounder/what-does-g20-do, Erişim Tarihi: 21.01.2024
  • DARWEESH, F. KHUDARI, M., & OTHMAN, N. S.(2023). The relationship between financial development and carbon emissions: a systematic review. International Journal of Professional Business Review.8(7), 2525-3654.
  • DAOUD, J. (2017). Multicollinearity and Regression Analysis. Journal of Physics: Conference Series. 949(4), 1-7.
  • DOĞAN, E., & DOĞAN, B. Ö. (2021). Finansal gelişme ve inovasyon, Türkiye’de yenilenebilir enerji üretimini artırıyor mu? Turkish Studies - Economy, 16(2), 783-797.
  • DOGAN, E., & SEKER, F. (2016). The influence of real output, renewable and non-renewable energy, trade and financial development on carbon emissions in the top renewable energy countries. Renew. Sust. Energ. Rev. 60, 1074–1085.
  • DU, K., YU, Y., & LI, J. (2020). Does international trade promote CO2 emission performance? An empirical analysis based on a partially linear functional-coefficient panel data model. Energy Economics , 92,104983.
  • DUMITRESCU, E., & HURLIN, C. (2012). Testing For Granger Non-Causality in Heterogeneous Panels. Economic Modelling, 29(4); 1450-1460.
  • ESSANDOH, O. K., ISLAM, M., & KAKINAKA, M. (2020). Linking international trade and foreign direct investment to CO2 emissions: Any differences between developed and developing countries? Science of the Total Enviroment, 712,136437.
  • EYYÜBOĞLU, K., AKDAĞ, S., YILDIRIM, H., & ALOLA, A. A. (2022). The causal trend of energy intensity and urbanization in emerging countries. Letters in Spatial and Resource Sciences, 15(3), 653-663.
  • FAUZEL, S. (2017). The impact of FDI on CO2 emission in a small island developing state: Acointegration approach. Economics and Business Letters. 6(1), 6-13.
  • FU, Q., WANG, J., XIANG, Y., YASMEEN, S., & ZOU, B. (2022). Does financial development and renewable energy consumption impact on environmental quality: A new look at China’s economy. Front. Psychol. 13: 905270.
  • GORGIJ, M. & SHAHRAKI, M. (2022). The impact of financial development and environmental quality on health status: Evidence from the Middle East and North Africa (MENA) countries. Payesh, 21(6),593-603.
  • GUO, Y. (2021). Financial Development and Carbon Emissions: Analyzing the Role of Financial Risk, Renewable Energy Electricity, and Human Capital for China. Hindawi . Discrete Dynamics in Nature and Society, 2021(2021), 1-8.
  • GÜRİŞ, S. (2018). Uygulamalı Panel Veri Ekonometrisi. İstanbul: Der Yayınları.
  • HUANG, Y., CHEN, F., WEI, H., XIANG, J., & XU, Z. (2022). The Impacts of FDI Inflows on Carbon Emissions: Economic Development and Regulatory Quality as Moderators. Front. Energy Research, 9, 820596.
  • HUSSAIN, M., REHMAN, R. U., & BASHIR, U. (2023).Environmental pollution, innovation, and financial development: an empirical investigation in selected industrialized countries using the panel ARDL approach. Environment, Development and Sustainability.
  • INTERNATIONAL ENERGY AGENCY. (2024). Data and statistics. https://www.iea.org/data-and-statistics, Erişim Tarihi: 21.01.2024
  • KASMAN, A., & DUMAN, Y. S. (2015). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: A panel data analysis. Economic Modelling. 44, 97-103.
  • KHAN, Z. U., AHMAD M., & KHAN, A.(2020). On the remittances-environment led hypothesis: empirical evidence from BRICS economies. Environmental Science Pollution Research, 27(14),16460–16471
  • KILIÇARSLAN, Z., & DUMRUL, Y. (2017). Foreign Direct Investments and CO2 Emissions Relationship: The Case of Turkey. Business and Economics Research Journal, 8(4), 647-660.
  • KYRIAKOPOULOU, D., KYRIACOU, G. & PEARSON, G. (2023). How does trade contribute to climate change and how can it advance climate action? The London School of Economics and Political Science. https://www.lse.ac.uk/granthaminstitute/explainers/how-does-trade-contribute-to-climate-change-and-how-can-it-advance-climate-action/,Erişim Tarihi:23.01.2024
  • LI, K., HU, E., XU, C., MUSAH, M., KONG, Y., MENSAH, I.A, ZU,J., JIANG,W.,& SU,Y.(2021). A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries. Energy Exploration & Exploitation. 39(3), 815-837.
  • LIU, G., KHAN, M. HAIDER, A., & UDDIN, M. (2022). Financial Development and Environmental Degradation: Promoting Low-Carbon Competitiveness in E7 Economies’ Industries. Int. J. Environ. Res. Public Health, 19(23), 16336.
  • LIU, S. & ZHANG, P. (2022). Foreign Direct Investment and Air Pollution in China: Evidence from the Global Financial Crisis. The Developing Economies, 60(1), 30-61.
  • LIU, X. & LIU, X. (2021). Can Financial Development Curb Carbon Emissions? Empirical Test Based on Spatial Perspective. Sustainability, MDPI, 13(21), 1-19.
  • MALIK, M. Y., LATIF, K., KHAN, Z., BUTT, H. D., HUSSAIN, M., & NADEEM, M. A. (2020). Symmetric and asymmetric impact of oil price, FDI and economic growth on carbon emission in Pakistan: Evidence from ARDL and non-linear ARDL approach. Science of The Total Environment, 726, 138421.
  • MERT, M., & ÇAĞLAR, A. E. (2020). Testing pollution haven and pollution halo hypotheses for Turkey: a new perspective. Environmental Science and Pollution Research, 27, 32933–32943.
  • MARQUES, A. C., & CAETANO, R. (2020). The impact of foreign direct investment on emission reduction targets: Evidence from high- and middle-income countries. Structural Change and Economic Dynamics, 55, 107-118.
  • MOHAMMED, A. Y. M. A. (2018). International Trade and its Impact on CO2 Emission: Empirical Study of Bahrain. International Journal of Academic Research in Business and Social Sciences, 8(2), 310–325.
  • NKENGFACK, H., & FOTIO, H. K. (2019). Energy Consumption, Economic Growth and Carbon Emissions: Evidence from the Top Three Emitters in Africa. Modern Economy, 10(1), 52-71.
  • OWUSU, P. & ASUMADU-SARKODIE, S. (2016). A review of renewable energy sources, sustainability issues and climate change mitigation. Cogent Engineering, 3,1167990.
  • PESARAN, H. (2004), “General Diagnostic Tests For Cross Section Dependence in Panels”, Cambridge Working Papers in Economics Working Paper, 435.
  • PESARAN, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics,22(2), 265-312.
  • PESARAN, M. H., & YAMAGA, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50–93.
  • PERONE, G. (2024). The relationship between renewable energy production and CO2 emissions in 27 OECD countries: A panel cointegration and Granger non-causality approach. Journal of Cleaner Production. 434(1), 25.
  • QAYYUM, M., ALI, M., NIZAMANI, M. M., LI, S., & YU, Y. (2021). Nexus between Financial Development, Renewable Energy Consumption, Technological Innovations and CO2 Emissions: The Case of India. Energies, 14(15), 4505.
  • RAFINDADI, A. A., MUYE, I. M., & KAITA, R. A. (2018). The effects of FDI and energy consumption on environmental pollution in predominantly resource-based economies of the GCC. Sustainable Energy Technologies and Assessments. 25, 126-137.
  • RAZA, S. S., & HUSSAIN, A. (2016). The Nexus of Foreign Direct Investment, Economic Growth and Environment in Pakistan. The Pakistan Development Review, 55 (2), 95-111.
  • RAZA, S. A. & SHAH, N. (2018). Impact of Financal Development, Economic Growth and Energy Consumption on Environmental Degradation: Evidence from Pakistan. IQRA University. MPRA Paper, N.87095.
  • RESPITAWULAN, A., & RAHAYU, A. (2019). The Role of Renewable Energy to Reduce Climate Change:Perspective of Policy Content and Context. IOP Conf. Series: Earth and Environmental Science, 328, 012005.
  • RAUF, A., LIU, X., AMIN, W., REHMAN, O., LI, J., AHMAD, F.,& BEKUN, F. (2020). Does sustainable growth, energy consumption and environment challenges matter for Belt and Road Initiative feat? A novel empirical investigation. Journal of Cleaner Production, 262 (2020, 121344.
  • SALOUN, K., & CERDA, E. (2019). Climate change impacts on renewable energy generation. A review of quantitative projections. Renewable and Sustainable Energy Reviews. 116, 109415.
  • SHAHBAZ, M., NASREEN, S., ABBAS, F., & ANIS, O. (2015). Does Foreign Direct Investment Impede Environmental Quality in High-, Middle-, and Low Income Countries? Energy. Economics. 51, 275–287.
  • SHARMA, S. (2019). Trade, Foreign Direct Investment,and Pollution Abatement. Asian Development Bank Institute. No. 1003.
  • SHAO, Q., WANG, X., ZHOU, Q., & BALOGH, L. (2019) .Pollution haven hypothesis revisited: a comparison of the BRICS and MINT countries based on VECM approach. Journal of Cleaner Production, 227, 724–738.
  • SSALI, M. W., DU, J., MENSAH, I., & HONGO, D.(2019). Investigating the nexus among environmental pollution, economic growth, energy use, and foreign direct investment in 6 selected sub-Saharan African countries. Springer, 26, 11245–11260.
  • OMRI, A., NGUYEN, D., & CHRISTOPHE, R. (2014). Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models, Economic Modelling. Elsevier, 42(2014), 382-389.
  • QAYYUM, M., ALİ, M., NIZAMANI, M. M., LI, S., & YU, Y. (2021). Nexus between Financial Development, Renewable Energy Consumption, Technological Innovations and CO2 Emissions: The Case of India. Energies, 14(15), 4505.
  • USMAN, M., YASEEN, M. KOUSAR, R., & MAKHDUM, A. (2021). Modelingfinancial development, tourism, energy consumption,and environmental quality: Is there any discrepancy between developing and developed countries? Environmental Science and Pollution Research, 28(41), 58480-58501.
  • WANG, Z., HOA, P., SUN, K. HASHEMIZADEH, A., & BUI, Q. (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.
  • WANG, J., ZHANG, S., & ZHANG, Q. (2022). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897-904.
  • YUNFENG, Y., & LAIKE, Y. (2010). China's foreign trade and climate change: A case study of CO2 emissions," Energy Policy, Elsevier, 38(1), 350-356.
  • YILMAZER, M., & KARABİBER, B. (2022). Türkiye’de İhracat, Doğrudan Yabancı Yatırımlar, Ekonomik Büyüme ve Karbon Emisyonu İlişkisi. Business and Economics Research Journal, 13(2),199-220.
  • YILDIRIM, H., & AKDAĞ, S. (2022). Enerji Verimliliği Finansal Gelişmişliğin Nedeni midir? Yatay Kesit Bağımlılığı Altında Panel Nedensellik Analizi. Yaşar Üniversitesi E-Dergisi, 17(66), 658-671.
  • YI, J., HOU, Y., & ZHANG, Z. (2023). The impact of foreign direct investment (FDI) on China's manufacturing carbon emissions. Innovation and Green Development, 2(4),100086.
  • YERDELEN TATOĞLU, F. (2020). Panel Zaman Serileri Analizi. İstanbul: Beta Yayıncılık. s.105. ZHAO, Q., & SU, C. (2023). The Nexus Between Air Pollution and Outward Foreign Direct Investment. Sage Journals, 13(1),1-11.
  • ZHANG, L., & GAO, J.(2016). Exploring the effects of international tourism on China's economic growth, energy consumption and environmental pollution: Evidence from a regional panel analysis. Renewable and Sustainable Energy Reviews. 53, 225-234.
There are 73 citations in total.

Details

Primary Language Turkish
Subjects Environmental Assessment and Monitoring, Econometric and Statistical Methods, Panel Data Analysis
Journal Section Articles
Authors

Burçin Çakır Gündoğdu 0000-0002-8578-4929

Early Pub Date May 14, 2024
Publication Date
Submission Date December 21, 2023
Acceptance Date May 14, 2024
Published in Issue Year 2023 Volume: 6 Issue: 2

Cite

APA Çakır Gündoğdu, B. (2024). G-20 Ülkelerinde Doğrudan Yabancı Yatırımlarının Yenilenebilir Enerji Tüketiminin Dış Ticaretin ve Finansal Gelişmişliğin Karbondioksit Salınımı ile İlişkisi: 1990-2020. İzlek Akademik Dergi, 6(2), 37-60. https://doi.org/10.53804/izlek.1408228
 Download Cover Image


Flag Counter