Browsing by Subject "ENVIRONMENTAL KUZNETS CURVE"

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    Analysis of the Relationships among Financial Development, Economic Growth, Energy Use, and Carbon Emissions by Co-Integration with Multiple Structural Breaks
    (MDPI) Geyikci, UB; Çinar, S; Sancak, FM
    In this study, the effects of financial and economic development on energy consumption and CO2 emissions are analyzed using multiple structural breaks, second-generation panel unit root tests, the Westerlund Cointegration Test, and PMG and MG estimators. Unlike classical studies, financial development is included, in the analysis, as an indicator of the accumulated capital as a result of industrial production that has been realized for many years. We conducted a panel data analysis on 13 developing countries for which we could obtain uninterrupted data in the Morgan Stanley Developing Countries index. We found significant relationships between economic growth, energy usage, and CO2 emissions. Financial development and carbon emissions are cointegrated in the long-term, and financial development is found to accelerate environmental pollution. Therefore, energy economists should consider the effect of financial development on energy use and carbon emissions in future studies. Policy-makers in emerging markets are also advised to take necessary actions to reduce carbon emissions while increasing financial development. It is important that the same results were obtained in medium- and small-scale countries, as well as in large economies (e.g., China) under the scope of this review.
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    INFLUENCE OF FOREIGN DIRECT INVESTMENT ON CARBON DIOXIDE EMISSIONS IN NEWLY INDUSTRIALIZED COUNTRIES: A PANEL ARDL-PMG APPROACH
    (GH ASACHI TECHNICAL UNIV IASI) Dam, MM; Gökbunar, AR; Yildiz, B; Bulut, S
    In this study, the effect of foreign direct investment on carbon dioxide emissions was analyzed using annual data for the 1990-2016 period for the newly industrialized countries. The study was analyzed using Panel Pooled Mean Group-Autoregressive distributive lag cointegration test and Dumitrescu and Hurlin panel causality test. As a result of the long-term analysis, the foreign direct investment, energy consumption and trade openness have a positive and significant impact on carbon dioxide emissions whereas economic growth has negative and significant impact on carbon dioxide emissions. It has been analyzed that a 1% increase in foreign direct investment increases carbon dioxide emission by 0.03%. According to Dumitrescu and Hurlin panel causality tests analysis results, a bidirectional causality relationship between energy consumption and carbon dioxide emissions; a unidirectional causality relationship from economic growth and trade openness to carbon dioxide emissions and from carbon dioxide emissions to foreign direct investment has been determined.