The Nexus Between Urbanization, Renewable Energy, Financial Development, and Economic Growth: Evidence from Turkey
Journal Title: Journal of Corporate Governance, Insurance, and Risk Management - Year 2022, Vol 9, Issue 2
Abstract
This study aims to analyze the relationship between renewable energy production and financial development, urbanization, and economic growth in the 1980-2020 period of the Turkish economy, which draws attention to its high growth rate. Methodology: To determine the relationship between financial development, economic growth, urbanization, and renewable Energy, ARDL cointegration analysis, cointegration regression models, and Toda Yamamoto causality analysis will be applied using 1980-2020 period data. Results/Findings: The ARDL boundary test shows a long-run relationship between financial development, economic growth, urbanization, and energy consumption under structural breaks. According to the cointegration regression model results, renewable energy production is determined by financial development and per capita GDP. Toda Yamamoto causality analysis shows the existence of causality running from financial development, per capita GDP, and urbanization variables to renewable energy production. The results reveal that in determining Turkey long-term energy demand projections and strategies of Turkey's, it is necessary to consider both the impact of financial development and economic growth and the supply of energy needs with sustainable resources by minimizing foreign dependency. Originality and Practical Implications: According to the government's estimates, electricity consumption is expected to reach 370 TWh in 2025 and 591 TWh in 2040. These developments reveal the importance of energy consumption in the Turkish economy and make it necessary to investigate the factors affecting energy production.
Authors and Affiliations
N. Serap Vurur
Keywords
Related Articles
- EP ID EP732688
- DOI https://doi.org/10.56578/jcgirm090202
- Views 69
- Downloads 0
Estimating Financial Failure in Businesses Using Artificial Neural Networks: Turkish Manufacturing Industry Model Study
Businesses need to be financially successful to achieve sustainable growth and maximise firm value. The financial failure of businesses is a situation that is carefully monitored by business managers, shareholders of the...
Citizen Satisfaction and Influential Factors of E-Government Services During the COVID-19 Crisis: A Turkish Case Study
This study aimed to evaluate citizen satisfaction with e-Government (eGov) services in Turkey amid the COVID-19 pandemic and identify the key factors influencing satisfaction levels. Data were collected from a random sam...
The Long-Term Benefits of Quality Costs in Achieving Sustainable Development: A Benefit-Cost Analysis
The future of the world is a topic that continues to generate debate and intrigue across generations, due to uncertainties and evolving concerns. As the industrial revolution, technological advancements, and urbanization...
Exploring the Causal Linkage Between Foreign Equity Investments and BIST 100 Index
This study examines the interrelation between foreign equity investments (FEIs) and the BIST 100 index, a pivotal indicator of the Turkish economy's overall performance. Given Turkey's emergence as a market with consider...
Maritime Dynamics and Energy Security in the Eastern Mediterranean: Analyzing the Blue Homeland Doctrine
Energy resources constitute a fundamental necessity for the sustenance of nations, with their security being a critical facet of both national and economic stability. The Eastern Mediterranean, a pivotal route for the gl...