Testing the long-run effects of economic growth, financial development and energy consumption on CO 2 emissions in Turkey: new evidence from RALS cointegration test
Yükleniyor...
Tarih
2021
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Springer
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study analyses the long-run effects of economic growth, energy consumption and financial development on carbon dioxide (CO2) emissions in Turkey using annual time series data for the period 1965-2018. This research investigates the relationship between the variables using a RALS-EG (residual augmented least squares-Engle and Granger) cointegration test procedure developed by Lee et al. Stud Nonlinear Dyn Econ 19:397-413, (2015). In addition, this study uses a bootstrap causality analysis developed by Hacker and Hatemi-J J Econ Stud 39:144-160, (2012) to specify the causal relationship between the series. RALS cointegration test results show a long-run relationship between CO2 emissions and economic growth, energy consumption and financial development. According to a dynamic ordinary least squares estimation, economic growth has a negative and statistically significant effect on CO2 emissions, whereas energy consumption and financial development have positive and statistically significant effects on CO2 emissions in the long run. In particular, energy consumption is the most effective parameter of environmental pollution in Turkey. However, the causality test results indicate a unidirectional causal relationship from financial development to CO2 emissions, economic growth and energy consumption. Increasing the investment in renewable energy sources will be an effective policy tool to improve the environmental quality in Turkey.
Açıklama
Anahtar Kelimeler
CO2 emissions, Economic growth, Energy consumption, Financial development, RALS cointegration, Turkey
Kaynak
Environmental Science and Pollution Research
WoS Q Değeri
Q2
Scopus Q Değeri
Q1
Cilt
28
Sayı
25
Künye
Doğanlar, M., Mike, F., Kızılkaya, O., & Karlılar, S. (2021). Testing the long-run effects of economic growth, financial development and energy consumption on CO 2 emissions in Turkey: new evidence from RALS cointegration test. Environmental Science and Pollution Research, 1-10.
