TÜRKİYE EKONOMİSİNDE ENERJİ TÜKETİMİNİN KARBON EMİSYONU ÜZERİNDEKİ ETKİSİ
Journal Title: Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi - Year 2018, Vol 5, Issue 2
Abstract
EXTENDED SUMMARY Research Problem: The main purpose of this study is to examine the effect of energy consumption on carbon emissions in case of Turkey for the period 1960-2014. This study also examines the validity of Environmental Kuznets Curve (EKC) hypothesis implying an inverted-U shaped relationship between per capita real income and carbon emissions for Turkish economy. Based on the existing literature, this study uses energy consumption, trade openness and financial development as other determinants of carbon emissions. In this study, in which entrepreneurship tendencies were determined according to the perceptions and personality traits of the students who were studying at Süleyman Demirel University and participating entrepreneurship courses, it was questioned whether the tendencies of entrepreneurship differed according to the personality traits, sexes, ages and faculties of the students. Research Questions: Does energy consumption correlate with carbon emissions? Is the EKC hypothesis valid for Turkish economy? Does an inverted-U shaped relationship between per capita real income and carbon emissions exist in Turkey? How is the impact of trade openness on carbon emissions? Is there a positive relationship between financial development and carbon emissions? Literature Review: The EKC hypothesis implies that there exists an inverted-U shaped relationship between per capita real income and environmental pollution. Most of the studies investigating the EKC hypothesis has found different results for different countries by applying various emprical methods. The literature of EKC hypothesis uses energy consumption, trade openness and financial development as control variables. Firstly, energy is a vital production factor. An increase in energy consumption affects economic growth and carbon emissions. Therefore, it is expected that there exists a positive link between energy consumption and carbon emissions. Many empirical papers reveal a positive link between the variables and a causal linkage running from energy concumption to carbon emissions in the long run.Secondly, the literature implies that trade openness affects carbon emissions positively or negatively. Therefore, a positive or negative relationship between trade openness and carbon emissions is expected. The empirical studies provide more complex and mixed findings for this relationship.Thirdly, the literature also suggests that financial development encourages new technology and environmentally friendly production, therefore, increases carbon emissions. On the other hand, financial development supports economic growth, thus, enhances industrial pollution. For these purposes, the relationship between financial development and carbon emission is expected to be positive or negative. As a matter of fact, the empirical studies provide the findings compatible with the theory.It can be said that there exists limited studies examining the link between energy consumption and carbon emissions for Turkish economy. Methodology: The study includes a single-country analysis. The study’s methodology consists of three steps. In the first step, the unit root properties of the variables are investigated by the Ng-Perron and PP unit root tests. These test can provide more efficient and consistent results than the other unit root tests. In the second step, the cointegration analysis is conducted by the Johansen-Juselius and Phillips-Ouliaris cointegration tests. The main feature of these tests is that they are resudual-based cointegration tests. In the final step, the long run estimation of variables are analyzed by the Generalized Method of Moments (GMM) and Dynamic OLS (DOLS) estimators. If heteroskedasticity and endogeneity problems are present, the GMM estimator is more efficient than the other estimators. DOLS can provide asymptotically efficient estimates. DOLS is a more simple method than other asymptotically efficient estimators. In this study, the four regression models are used to investigate the impact of energy consumption on carbon emissions. The annual data covers the period 1960-2014. The data are obtained from the World Development Indicators (WDI, 2017) online database. All the variables are transformed to their logarithmic form. The parameters indicate the long-run elasticities of per capita carbon emissions with respect to per capita real income, the square of per capita real income, per capita energy consumption, trade openness and financial development, respectively. Results and Conclusions: The unit root analysis indicates that the variables used in the study are stationary at their first difference. The result implies that the series are integrated at I(1). The cointegration analysis indicates that the variables are cointegrated implying a long run relationship between the variables. The empirical results show that the EKC hypothesis is valid for Turkish economy. The empirical results also show that energy consumption increases carbon emissions.The study can provide important policy implications for Turkish economy. In order to decrease carbon emissions level in Turkey, the utilization of alternative energy sources such as wind, solar, geothermal sources and bio-diesel fuel can be encouraged.
Authors and Affiliations
Murat ÇETİN, Özge YÜKSEL
Keywords
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- EP ID EP440085
- DOI 10.30798/makuiibf.409119
- Views 126
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