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KURUMSAL YAPI VE DOĞRUDAN YABANCI YATIRIMLARIN KARBON EMİSYONU ÜZERİNDEKİ ETKİSİNİN İNCELENMESİ: E7 ÜLKELERİNDEN KANITLAR

Year 2023, Issue: C-iasoS 2022 Özel Sayısı, 191 - 206, 30.03.2023
https://doi.org/10.18092/ulikidince.1234095

Abstract

Bu çalışmanın temel hedefi çevre kirliliğinin azaltılmasında kurumsal yapının oynadığı rolün vurgulanmasıdır. Ayrıca çalışmanın bu hedefinin yanında kirlilik sığınağı hipotezi de test edilmektedir. Bu amaç doğrultusunda E7 ülkeleri için 2002-2021 dönemini kapsayan ampirik bir analiz yapılmaktadır. Çalışmanın analiz sürecinde yatay kesit bağımlılığının varlığı ve eğim homojenliği test edilmiştir. Analiz sürecinde bu durumları göz önünde bulunduran AMG ve Dumitrescu-Hurlin panel nedensellik teknikleri kullanılmıştır. AMG tekniği ile yapılan analizde E7 ülkelerinin tümünü kapsayan panelin geneli için ve ülke bazlı tahminci sonuçlarına yer verilmektedir. Çalışmada yapılan analiz sonuçları özetlenecek olursa: i) Panelin geneli ve Brezilya, Çin, Hindistan, Meksika, Türkiye için kanun ve kural üstünlüğünün karbondioksit emisyonun azalttığı tespit edilmektedir. ii) Hindistan, Türkiye ve panelin geneli için kirlilik sığınağı hipotezi kabul edilmektedir. iii) Son olarak karbondioksit emisyonu ve kurumsal yapı, ekonomik büyüme, enerji üretimi arasında çift yönlü nedensellik ilişkisi olduğu, doğrudan yabancı yatırımlarlaysa tek yönlü nedensellik ilişkisinin olduğu tespit edilmiştir.

References

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  • Al-Mulali, U., & Tang, C. F. (2013). Investigating the validity of pollution haven hypothesis in the gulf cooperation council (GCC) countries. Energy Policy, 60, 813-819.
  • Balsalobre-Lorente, D., Ibáñez-Luzón, L., Usman, M., & Shahbaz, M. (2022). The environmental Kuznets curve, based on the economic complexity, and the pollution haven hypothesis in PIIGS countries. Renewable Energy, 185, 1441-1455.
  • Baltagi, B. H., & Baltagi, B. H. (2008). Econometric analysis of panel data (C. 4). Springer.
  • Bengochea-Morancho, A., Higón-Tamarit, F., & Martínez-Zarzoso, I. (2001). Economic growth and CO2 emissions in the European Union. Environmental and Resource Economics, 19(2), 165-172.
  • Bhattacharyya, R., & Ghoshal, T. (2010). Economic growth and CO2 emissions. Environment, development and sustainability, 12(2), 159-177.
  • Bond, S., & Eberhardt, M. (2013). Accounting for unobserved heterogeneity in panel time series models. University of Oxford, 1-11.
  • 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.
  • Çoban, S., & Topcu, M. (2013). The nexus between financial development and energy consumption in the EU: A dynamic panel data analysis. Energy Economics, 39, 81-88.
  • Destek, M. A. (2017). Biomass energy consumption and economic growth: Evidence from top 10 biomass consumer countries. Energy Sources, Part B: Economics, Planning, and Policy, 12(10), 853-858.
  • Destek, M. A., & Okumus, I. (2019). Does pollution haven hypothesis hold in newly industrialized countries? Evidence from ecological footprint. Environmental Science and Pollution Research, 26(23), 23689-23695.
  • Dong, K., Sun, R., Li, H., & Liao, H. (2018). Does natural gas consumption mitigate CO2 emissions: Testing the environmental Kuznets curve hypothesis for 14 Asia-Pacific countries. Renewable and Sustainable Energy Reviews, 94, 419-429.
  • Dumitrescu, E.-I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic modelling, 29(4), 1450-1460.
  • EIA (2022). Energy Information Administration. Erişim Tarihi:20.10.2022. https://www.eia.gov
  • Eberhardt, M., & Bond, S. (2009). Cross-section dependence in nonstationary panel models: A novel estimator.
  • Eberhardt, M., & Teal, F. (2011). Econometrics for grumblers: A new look at the literature on cross-country growth empirics. Journal of economic Surveys, 25(1), 109-155.
  • Gao, Y., Gao, X., & Zhang, X. (2017). The 2 C global temperature target and the evolution of the long-term goal of addressing climate change—From the United Nations framework convention on climate change to the Paris agreement. Engineering, 3(2), 272-278.
  • Goel, R. K., Herrala, R., & Mazhar, U. (2013). Institutional quality and environmental pollution: MENA countries versus the rest of the world. Economic Systems, 37(4), 508-521.
  • Greenidge, K., McIntyre, M. M. A., & Yun, H. (2016). Structural reform and growth: What really matters? Evidence from the Caribbean. International Monetary Fund.
  • Guzel, A. E., & Okumus, İ. (2020). Revisiting the pollution haven hypothesis in ASEAN-5 countries: New insights from panel data analysis. Environmental Science and Pollution Research, 27(15), 18157-18167.
  • Hao, L.-N., Umar, M., Khan, Z., & Ali, W. (2021). Green growth and low carbon emission in G7 countries: How critical the network of environmental taxes, renewable energy and human capital is? Science of The Total Environment, 752, 141853.
  • He, J. (2006). Pollution haven hypothesis and environmental impacts of foreign direct investment: The case of industrial emission of sulfur dioxide (SO2) in Chinese provinces. Ecological economics, 60(1), 228-245.
  • Ibrahim, M. H., & Law, S. H. (2016). Institutional Quality and CO2 Emission–Trade Relations: Evidence from S ub-S aharan A frica. South African Journal of Economics, 84(2), 323-340.
  • Ji, X., Umar, M., Ali, S., Ali, W., Tang, K., & Khan, Z. (2021). Does fiscal decentralization and eco-innovation promote sustainable environment? A case study of selected fiscally decentralized countries. Sustainable Development, 29(1), 79-88.
  • Kang, Y.-Q., Zhao, T., & Yang, Y.-Y. (2016). Environmental Kuznets curve for CO2 emissions in China: A spatial panel data approach. Ecological indicators, 63, 231-239.
  • Khan, M., & Rana, A. T. (2021). Institutional quality and CO2 emission–output relations: The case of Asian countries. Journal of Environmental Management, 279, 111569.
  • Lau, L.-S., Choong, C.-K., & Eng, Y.-K. (2014). Carbon dioxide emission, institutional quality, and economic growth: Empirical evidence in Malaysia. Renewable energy, 68, 276-281.
  • Muhammad, S., & Long, X. (2021). Rule of law and CO2 emissions: A comparative analysis across 65 belt and road initiative (BRI) countries. Journal of Cleaner Production, 279, 123539.
  • Ntow-Gyamfi, M., Bokpin, G. A., Aboagye, A. Q., & Ackah, C. G. (2020). Environmental sustainability and financial development in Africa; does institutional quality play any role? Development Studies Research, 7(1), 93-118.
  • Omri, A., Nguyen, D. K., & Rault, C. (2014). Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models. Economic Modelling, 42, 382-389.
  • Panayotou, T. (1997). Demystifying the environmental Kuznets curve: Turning a black box into a policy tool. Environment and development economics, 2(4), 465-484.
  • 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., Ullah, A., & Yamagata, T. (2008). A bias-adjusted LM test of error cross-section independence. The econometrics journal, 11(1), 105-127.
  • Pesaran, M. H., & Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of econometrics, 142(1), 50-93.
  • Salman, M., Long, X., Dauda, L., & Mensah, C. N. (2019). The impact of institutional quality on economic growth and carbon emissions: Evidence from Indonesia, South Korea and Thailand. Journal of Cleaner Production, 241, 118331.
  • Shen, Y., Su, Z.-W., Malik, M. Y., Umar, M., Khan, Z., & Khan, M. (2021). Does green investment, financial development and natural resources rent limit carbon emissions? A provincial panel analysis of China. Science of The Total Environment, 755, 142538.
  • Su, C.-W., Naqvi, B., Shao, X.-F., Li, J.-P., & Jiao, Z. (2020). Trade and technological innovation: The catalysts for climate change and way forward for COP21. Journal of environmental management, 269, 110774.
  • Swamy, P. A. (1970). Efficient inference in a random coefficient regression model. Econometrica: Journal of the Econometric Society, 311-323.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy economics, 32(1), 137-145.
  • Tang, C. F., & Tan, B. W. (2015). The impact of energy consumption, income and foreign direct investment on carbon dioxide emissions in Vietnam. Energy, 79, 447-454.
  • Walter, I., & Ugelow, J. L. (1979). Environmental policies in developing countries. Ambio, 102-109.
  • WDI (2022). World Development Indicators . The World Bank. Erişim Tarihi: 20.10.2022. https://www.databank.worldbank.org/indicator.
  • WGI (2022). The Worldwide Governance . The World Bank. Erişim Tarihi: 20.10.2022. http://www.info.worldbank.org/governance/WGI.
  • Welsch, H. (2004). Corruption, growth, and the environment: A cross-country analysis. Environment and Development Economics, 9(5), 663-693.
  • Xaisongkham, S., & Liu, X. (2022). Institutional quality, employment, FDI and environmental degradation in developing countries: Evidence from the balanced panel GMM estimator. International Journal of Emerging Markets, ahead-of-print.
  • Zarsky, L. (1999). Havens, halos and spaghetti: Untangling the evidence about foreign direct investment and the environment. Foreign direct Investment and the Environment, 13(8), 47-74.
  • Zhang, B., Wang, Z., & Wang, B. (2018). Energy production, economic growth and CO2 emission: Evidence from Pakistan. Natural Hazards, 90(1), 27-50.
  • Zhang, C., & 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, M., Liu, X., Wang, W., & Zhou, M. (2013). Decomposition analysis of CO2 emissions from electricity generation in China. Energy policy, 52, 159-165.
  • Zheng, F., Zhou, X., Rahat, B., & Rubbaniy, G. (2021). Carbon neutrality target for leading exporting countries: On the role of economic complexity index and renewable energy electricity. Journal of environmental management, 299, 113558.
Year 2023, Issue: C-iasoS 2022 Özel Sayısı, 191 - 206, 30.03.2023
https://doi.org/10.18092/ulikidince.1234095

Abstract

References

  • Al-mulali, U. (2012). Factors affecting CO2 emission in the Middle East: A panel data analysis. Energy, 44(1), 564-569.
  • Al-Mulali, U., & Tang, C. F. (2013). Investigating the validity of pollution haven hypothesis in the gulf cooperation council (GCC) countries. Energy Policy, 60, 813-819.
  • Balsalobre-Lorente, D., Ibáñez-Luzón, L., Usman, M., & Shahbaz, M. (2022). The environmental Kuznets curve, based on the economic complexity, and the pollution haven hypothesis in PIIGS countries. Renewable Energy, 185, 1441-1455.
  • Baltagi, B. H., & Baltagi, B. H. (2008). Econometric analysis of panel data (C. 4). Springer.
  • Bengochea-Morancho, A., Higón-Tamarit, F., & Martínez-Zarzoso, I. (2001). Economic growth and CO2 emissions in the European Union. Environmental and Resource Economics, 19(2), 165-172.
  • Bhattacharyya, R., & Ghoshal, T. (2010). Economic growth and CO2 emissions. Environment, development and sustainability, 12(2), 159-177.
  • Bond, S., & Eberhardt, M. (2013). Accounting for unobserved heterogeneity in panel time series models. University of Oxford, 1-11.
  • 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.
  • Çoban, S., & Topcu, M. (2013). The nexus between financial development and energy consumption in the EU: A dynamic panel data analysis. Energy Economics, 39, 81-88.
  • Destek, M. A. (2017). Biomass energy consumption and economic growth: Evidence from top 10 biomass consumer countries. Energy Sources, Part B: Economics, Planning, and Policy, 12(10), 853-858.
  • Destek, M. A., & Okumus, I. (2019). Does pollution haven hypothesis hold in newly industrialized countries? Evidence from ecological footprint. Environmental Science and Pollution Research, 26(23), 23689-23695.
  • Dong, K., Sun, R., Li, H., & Liao, H. (2018). Does natural gas consumption mitigate CO2 emissions: Testing the environmental Kuznets curve hypothesis for 14 Asia-Pacific countries. Renewable and Sustainable Energy Reviews, 94, 419-429.
  • Dumitrescu, E.-I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic modelling, 29(4), 1450-1460.
  • EIA (2022). Energy Information Administration. Erişim Tarihi:20.10.2022. https://www.eia.gov
  • Eberhardt, M., & Bond, S. (2009). Cross-section dependence in nonstationary panel models: A novel estimator.
  • Eberhardt, M., & Teal, F. (2011). Econometrics for grumblers: A new look at the literature on cross-country growth empirics. Journal of economic Surveys, 25(1), 109-155.
  • Gao, Y., Gao, X., & Zhang, X. (2017). The 2 C global temperature target and the evolution of the long-term goal of addressing climate change—From the United Nations framework convention on climate change to the Paris agreement. Engineering, 3(2), 272-278.
  • Goel, R. K., Herrala, R., & Mazhar, U. (2013). Institutional quality and environmental pollution: MENA countries versus the rest of the world. Economic Systems, 37(4), 508-521.
  • Greenidge, K., McIntyre, M. M. A., & Yun, H. (2016). Structural reform and growth: What really matters? Evidence from the Caribbean. International Monetary Fund.
  • Guzel, A. E., & Okumus, İ. (2020). Revisiting the pollution haven hypothesis in ASEAN-5 countries: New insights from panel data analysis. Environmental Science and Pollution Research, 27(15), 18157-18167.
  • Hao, L.-N., Umar, M., Khan, Z., & Ali, W. (2021). Green growth and low carbon emission in G7 countries: How critical the network of environmental taxes, renewable energy and human capital is? Science of The Total Environment, 752, 141853.
  • He, J. (2006). Pollution haven hypothesis and environmental impacts of foreign direct investment: The case of industrial emission of sulfur dioxide (SO2) in Chinese provinces. Ecological economics, 60(1), 228-245.
  • Ibrahim, M. H., & Law, S. H. (2016). Institutional Quality and CO2 Emission–Trade Relations: Evidence from S ub-S aharan A frica. South African Journal of Economics, 84(2), 323-340.
  • Ji, X., Umar, M., Ali, S., Ali, W., Tang, K., & Khan, Z. (2021). Does fiscal decentralization and eco-innovation promote sustainable environment? A case study of selected fiscally decentralized countries. Sustainable Development, 29(1), 79-88.
  • Kang, Y.-Q., Zhao, T., & Yang, Y.-Y. (2016). Environmental Kuznets curve for CO2 emissions in China: A spatial panel data approach. Ecological indicators, 63, 231-239.
  • Khan, M., & Rana, A. T. (2021). Institutional quality and CO2 emission–output relations: The case of Asian countries. Journal of Environmental Management, 279, 111569.
  • Lau, L.-S., Choong, C.-K., & Eng, Y.-K. (2014). Carbon dioxide emission, institutional quality, and economic growth: Empirical evidence in Malaysia. Renewable energy, 68, 276-281.
  • Muhammad, S., & Long, X. (2021). Rule of law and CO2 emissions: A comparative analysis across 65 belt and road initiative (BRI) countries. Journal of Cleaner Production, 279, 123539.
  • Ntow-Gyamfi, M., Bokpin, G. A., Aboagye, A. Q., & Ackah, C. G. (2020). Environmental sustainability and financial development in Africa; does institutional quality play any role? Development Studies Research, 7(1), 93-118.
  • Omri, A., Nguyen, D. K., & Rault, C. (2014). Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models. Economic Modelling, 42, 382-389.
  • Panayotou, T. (1997). Demystifying the environmental Kuznets curve: Turning a black box into a policy tool. Environment and development economics, 2(4), 465-484.
  • 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., Ullah, A., & Yamagata, T. (2008). A bias-adjusted LM test of error cross-section independence. The econometrics journal, 11(1), 105-127.
  • Pesaran, M. H., & Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of econometrics, 142(1), 50-93.
  • Salman, M., Long, X., Dauda, L., & Mensah, C. N. (2019). The impact of institutional quality on economic growth and carbon emissions: Evidence from Indonesia, South Korea and Thailand. Journal of Cleaner Production, 241, 118331.
  • Shen, Y., Su, Z.-W., Malik, M. Y., Umar, M., Khan, Z., & Khan, M. (2021). Does green investment, financial development and natural resources rent limit carbon emissions? A provincial panel analysis of China. Science of The Total Environment, 755, 142538.
  • Su, C.-W., Naqvi, B., Shao, X.-F., Li, J.-P., & Jiao, Z. (2020). Trade and technological innovation: The catalysts for climate change and way forward for COP21. Journal of environmental management, 269, 110774.
  • Swamy, P. A. (1970). Efficient inference in a random coefficient regression model. Econometrica: Journal of the Econometric Society, 311-323.
  • Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy economics, 32(1), 137-145.
  • Tang, C. F., & Tan, B. W. (2015). The impact of energy consumption, income and foreign direct investment on carbon dioxide emissions in Vietnam. Energy, 79, 447-454.
  • Walter, I., & Ugelow, J. L. (1979). Environmental policies in developing countries. Ambio, 102-109.
  • WDI (2022). World Development Indicators . The World Bank. Erişim Tarihi: 20.10.2022. https://www.databank.worldbank.org/indicator.
  • WGI (2022). The Worldwide Governance . The World Bank. Erişim Tarihi: 20.10.2022. http://www.info.worldbank.org/governance/WGI.
  • Welsch, H. (2004). Corruption, growth, and the environment: A cross-country analysis. Environment and Development Economics, 9(5), 663-693.
  • Xaisongkham, S., & Liu, X. (2022). Institutional quality, employment, FDI and environmental degradation in developing countries: Evidence from the balanced panel GMM estimator. International Journal of Emerging Markets, ahead-of-print.
  • Zarsky, L. (1999). Havens, halos and spaghetti: Untangling the evidence about foreign direct investment and the environment. Foreign direct Investment and the Environment, 13(8), 47-74.
  • Zhang, B., Wang, Z., & Wang, B. (2018). Energy production, economic growth and CO2 emission: Evidence from Pakistan. Natural Hazards, 90(1), 27-50.
  • Zhang, C., & 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, M., Liu, X., Wang, W., & Zhou, M. (2013). Decomposition analysis of CO2 emissions from electricity generation in China. Energy policy, 52, 159-165.
  • Zheng, F., Zhou, X., Rahat, B., & Rubbaniy, G. (2021). Carbon neutrality target for leading exporting countries: On the role of economic complexity index and renewable energy electricity. Journal of environmental management, 299, 113558.
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Details

Primary Language Turkish
Subjects Economics
Journal Section Articles
Authors

M. Bahri Kırıkçı 0000-0002-4427-5124

Publication Date March 30, 2023
Published in Issue Year 2023 Issue: C-iasoS 2022 Özel Sayısı

Cite

APA Kırıkçı, M. B. (2023). KURUMSAL YAPI VE DOĞRUDAN YABANCI YATIRIMLARIN KARBON EMİSYONU ÜZERİNDEKİ ETKİSİNİN İNCELENMESİ: E7 ÜLKELERİNDEN KANITLAR. Uluslararası İktisadi Ve İdari İncelemeler Dergisi(C-iasoS 2022 Özel Sayısı), 191-206. https://doi.org/10.18092/ulikidince.1234095

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