ARE RENEWABLE ENERGY AND GLOBALIZATION VITAL FOR ENVIRONMENTAL SUSTAINABILITY IN INDIA? EVIDENCE FROM VECM AND TIME FREQUENCY ANALYSES

Yıl 2022, Sayı: 61, 119 - 150, 29.04.2022

Mohammed Alnour , Maysam Ali

https://doi.org/10.18070/erciyesiibd.991060

Cited By: 1

Öz

This study aims to analyze the dynamic effect of renewable energy use and globalization on the environmental sustainability in India by utilizing annual time series data spanning the period 1990-2018. After identifying the series order of stationarity by utilizing ADF and PP tests, this study makes use of VECM and WTC models. The reason is that VECM is powerful method in testing the dynamic shocks among the variables. In addition, the VECM is the powerful in variance decomposition and the possibility of observing long run forecast. The WTC model on the other hand allows us to detect the time frequency dependence among the underlying variables. The results disclose that environmental quality reacts negatively to renewables while the globalization and economic growth seem positively impact the degradation of the environment. These outcomes are expected and consistent with relevant theories and some empirical findings. Although India has recently implemented a wide range of energy policies to promote renewables, however huge challenges still persistent and many efforts are required. Therefore, future policy should enhance the development in renewables and create more competitive environment for the investment in the renewable energy market.

Anahtar Kelimeler

India, VECM, WTC, globalization, renewable energy, and ecological footprint

YENİLENEBİLİR ENERJİ VE KÜRESELLEŞME HİNDİSTAN'DA ÇEVRESEL SÜRDÜRÜLEBİLİRLİK İÇİN ÖNEMLİ Mİ? VECM VE ZAMAN FREKANS'TAN BİR KANIT

Öz

Bu çalışma, 1990-2018 dönemini kapsayan yıllık zaman serisi verileri kullanarak yenilenebilir enerji kullanımı ve küreselleşmenin Hindistan'daki çevresel sürdürülebilirlik üzerindeki dinamik etkisini analiz etmeyi amaçlamaktadır. ADF ve PP testleri kullanılarak serilerin durağanlık sıralaması belirlendikten sonra bu çalışmada VECM ve WTC modelleri kullanılmıştır. Bunun nedeni, VECM'nin değişkenler arasındaki dinamik şokları test etmede güçlü bir yöntem olmasıdır. Ayrıca VECM, varyans ayrıştırmasında güçlüdür ve uzun vadeli tahminleri gözlemleme olasılığıdır. WTC modeli ise, temel değişkenler arasındaki zaman frekansı bağımlılığını tespit etmemizi sağlar. Sonuçlar, çevresel kalitenin yenilenebilir kaynaklara olumsuz tepki verdiğini, küreselleşme ve ekonomik büyümenin ise çevrenin bozulmasını olumlu etkilediğini ortaya koymaktadır. Bu sonuçlar beklenir ve ilgili teoriler ve bazı ampirik bulgularla uyumludur. Hindistan son zamanlarda yenilenebilir enerjileri teşvik etmek için çok çeşitli enerji politikaları uygulamış olsa da, yine de büyük zorluklar devam ediyor ve birçok çaba gerekmektedir. Bu nedenle, gelecekteki politika yenilenebilir enerjideki gelişmeyi arttırmalı ve yenilenebilir enerji piyasasına yatırım için daha rekabetçi bir ortam yaratmalıdır.

Anahtar Kelimeler

Hindistan, VECM, WTC, küreselleşme, yenilenebilir enerji ve ekolojik ayak izi

Kaynakça

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