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
Exploring the Determinants of Managerial Vulnerability to Manipulation: A Qualitative Investigation
Managerial proficiency, a multifaceted construct, encompasses numerous attributes and is thought to be augmented by experience. Despite the inherent complexities of management roles, susceptibility to manipulation poses...
Impact of COVID-19 on Audit Risk Assessment Procedures: Insights from Malta
This investigation explores the transformative effect of the COVID-19 pandemic on the risk assessment processes employed by auditors. The primary focus is on how the pandemic has reshaped the identification and evaluatio...
Cyber Attack Against E-Albania and Its Social, Economic and Strategic Effects
Purpose: During last years, even because of pandemic situation caused by covid-19 virus, in Albania most of governmental public services for citizens, businesses and other customers were offered in an electronic way by c...
Formation and Development of Education in Nakhchivan (End of the XIX Century Before the Early XX Century)
The article discusses the development of school and pedagogical thought in Nakhchivan before and during autonomy. It has been established that, in Nakhchivan, which is an integral part of Azerbaijan, they always pay spec...
Impact of Intellectual Capital and Leverage on Profitability and Their Implications for Firm Value in Indonesian Healthcare Providers
This study examines the impact of intellectual capital and leverage on profitability, along with their implications for firm value, focusing on healthcare provider companies listed on the Indonesia Stock Exchange (IDX) f...