DOĞRUDAN YABANCI YATIRIM, BÜYÜME VE ÇEVRESEL KALİTE İLİŞKİSİ: TÜRKİYE “DİBE YARIŞAN” BİR ÜLKE Mİ?
Journal Title: Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi - Year 2019, Vol 6, Issue 2
Abstract
Bu çalışma Türkiye’de 1970-2014 yılları arasında doğrudan yabancı yatırım girişleri ve bir çevre göstergesi olan karbondioksit emisyonu arasındaki ilişkiyi, “dibe yarış” metodolojisinden hareketle incelemeyi amaçlamaktadır. Değişkenler arasındaki uzun ve kısa dönemli ilişkiler ARDL (Gecikmesi Dağıtılmış Otoregresif Sınır Testi) yöntemiyle incelenmiştir. Sınır testi sonuçları, serilerin uzun dönemde birlikte hareket ettiğini göstermiştir. ARDL modelinden elde edilen uzun dönem katsayıları, ekonomik büyüme, gayrisafi sabit sermaye oluşumu ve ticari açıklığın karbondioksit emisyonunu arttırdığını, doğrudan yabancı yatırımların ise çevresel kalite üzerinde anlamlı bir etkiye sahip olmadığına işaret etmiştir. Böylece doğrudan yabancı yatırım ve çevre ilişkisinin teorik çerçevesini oluşturan “dibe doğru yarış” ve “kirlilik sığınağı” hipotezlerinin Türkiye için geçerli olmadığı sonucuna ulaşılmıştır. Ayrıca sonuçlar, incelenen dönem için Çevresel Kuznets Eğrisi (ÇKE) hipotezinin geçerli olduğunu göstermiştir. Böylece Türkiye’nin doğrudan yabancı yatırım politikalarının, bilgi teknolojileri, araştırma-geliştirme, yeşil teknoloji ve yenilenebilir enerji gibi alanlara kaydırılması, hem yüksek katma değerli üretime geçişi hem de enerji etkinliğinin gerçekleştirmesini kolaylaştırarak, önemli makroekonomik ve çevresel kazanımların elde edilmesini sağlayacaktır EXTENDED SUMMARY Background The acceleration of financial integration led to an increase in direct foreign investment mobility. Foreign direct investment may has significant impacts on the host countries. The empirical literature on the role of foreign direct investment in host countries supports that foreign direct investment is a significant element of capital, supplementary domestic investment, is generally associated with job creations and upsizing of technology transfer, and enhances economic growth and development in the host countries (Asghari, 2012; Eregha and Nwokoma 2014; Seker et al. 2015). Although foreign direct investment has such positive contributions to the host countries, there is also the view that there may be some negative environmental impacts (Pao and Tsai, 2011). In particular, shifting of dirty industries to host countries through foreign direct investments may have some negative impacts on environmental quality. Also known as “race to the bottom”, host countries compete to attract more foreign direct investment. As a result of increased competition, reducing environmental standards and regulations may cause environmental quality to deteriorate. Turkey is an ideal case for examining the relationship between foreign direct investment and environmental quality. Among the developing countries, Turkey is one of the important locations for foreign direct investment. (UNCTAD, 2014; 2017). In addition, according to the World Bank, Turkey's carbon emission (per capita metric ton) has increased four-fold from 1970 to 2014. In this context, the analysis of the relationship between these two facts is very important for Turkey. Purpose The aim of this study is to examine the relationship between direct foreign investment inflow and carbon dioxide emission, using race to the bottom methodology in Turkey during 1970-2014. In other words, this study is to investigate whether race to the bottom is valid, or not in Turkey. Literature Review and Method The relationship between foreign direct investment and the environment has been investigated by many empirical studies. Similar to theoretical approaches, empirical studies have not provided a consensus on the subject (Hoffman et al. 2005; Shahbaz et al. 2011; Al-Mulali and Tang, 2013). In this study, the relationship between foreign direct investment and carbon dioxide emission in Turkey is investigated with the Autoregressive Distributed Lag Model (ARDL) for the period of 1970-2014. Per capita income, per capita income square, gross fixed capital formation, and trade openness are used as independent variables, while foreign direct investment is used as a dependent variable, in the study. Data of foreign direct investment is gathered from UNCTAD database. Others are obtained from the World Bank database. Finding The ARDL results indicate that the series are co-integrated and economic growth, gross fixed capital formation, and trade openness have a positive effect on carbon dioxide emission. According to findings, per capita income square has a negative impact on carbon dioxide emission. This situation demonstrates that Environmental Kuznets Curve (EKC) hypothesis is valid for Turkey. Finally, the coefficient of foreign direct investment is not statistically significant, although the coefficient is negative in contrast to the predictions of the race to the bottom and pollution haven hypothesis. Conclusion The results indicate that foreign direct investment has no significant effect on environmental quality. In this context, the findings do not support race to the bottom and pollution haven hypothesis in Turkey, similar not to the results Mutafoglu (2012) and Seker et al. (2015). The fact that foreign direct investment has no significant effect on carbon dioxide can be explained in several ways. Firstly, it can be directly related to the realization of foreign investment in Turkey. A significant portion of the foreign direct investments is stated as privatization and land sales (Yeldan, 2007). This composition may not produce an extra change in the current production capacity. Because of this, it can limit the relationship between foreign direct investment and carbon dioxide emission by not creating a huge change in categories such as production and energy consumption. Secondly, Turkey could be better on environmental standards from other countries. Thus, dirty sectors that have higher carbon dioxide emission may have gone to countries with lower environmental standards.
Authors and Affiliations
Umut Üzar
Keywords
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- EP ID EP637900
- DOI 10.30798/makuiibf.531931
- Views 122
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