The Impacts of Economic Globalization and Financial Development on Turkey’s Carbon Dioxide Emissions: Do Multi-Dimensional Indices Provide Fresh Evidence?

Alper Karasoy ()
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Alper Karasoy: Afyon Kocatepe Universitesi, Iktisadi ve Idari Bilimler Fakultesi, Iktisat Bolumu, Afyonkarahisar, Turkiye

Journal of Economic Policy Researches, 2021, vol. 8, issue 2, 75-100

Abstract: This research investigates the environmental impacts of economic globalization and financial development in Turkey by considering multidimensional indices. Three models are estimated in this research for the 1980-2016 period by employing the augmented autoregressive distributed lag (augmented ARDL) bounds testing procedure. According to the findings, in the long run (LR), economic and financial globalization do not affect Turkey’s carbon dioxide emissions, whereas trade globalization decreases them. Additionally, in the short-run (SR), economic, trade, and financial globalization do not impact Turkey’s carbon emissions. Moreover, financial development intensifies carbon dioxide emissions either in the LR or in the SR. These results, coupled with the evidence retrieved from control variables (income, income squared, energy consumption, industrialization, and urbanization), are utilized to put forward various policy suggestions.

Keywords: Carbon dioxide emissions; economic globalization index; financial development index; Turkey; augmented ARDL approach JEL Classification : C51; F64; Q56 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ist:iujepr:v:8:y:2021:i:2:p:75-100

DOI: 10.26650/JEPR861293

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