ASYMMETRIC RELATIONSHIP BETWEEN ENVIRONMENTAL PROTECTION EXPENDITURES AND ECONOMIC GROWTH: PANEL CAUSALITY FINDINGS FROM SELECTED OECD COUNTRIES
Künye
FENDOĞLU, E., & Konat, G. (2023). ASYMMETRIC RELATIONSHIP BETWEEN ENVIRONMENTAL PROTECTION EXPENDITURES AND ECONOMIC GROWTH: PANEL CAUSALITY FINDINGS FROM SELECTED OECD COUNTRIES. Economic Computation & Economic Cybernetics Studies & Research, 57(1).Özet
In this study, the causality relationship between environmental protection
expenditures and economic growth is investigated for 13 selected OECD countries
using the annual data set covering the period 1995-2019. First of all, the unit root
test of the variables was carried out. The symmetric relationship for series found to
be stationary at level values was investigated by Kónya (2006) bootstrap panel
causality test. The asymmetrical relationship was carried out with the test applied
by Yılancı and Aydın (2017) based on the tests of Granger and Yoon (2002) and
Kónya (2006). According to the results of symmetric causality, a bidirectional
relationship was found for Slovenia. A one-way relationship was found from
environmental protection expenditures to the economic growth variable for Spain
and Switzerland, and from the economic growth variable to environmental
protection expenditures for Austria. It is seen that there are hidden relations for the
Netherlands and Spain from the economic growth variable to the environmental
protection expenditures for positive shocks, for France and Norway from the
environmental protection expenditures to the economic growth variable for the
negative shocks, and for the Czech Republic and Denmark from the economic
growth variable to the environmental protection expenditures for the negative
shocks