Contribution of Finance and Transport Indicators on Carbon Emissions: Evidence from Eurasian Countries

Kenan Ilarslan () and Tugrul Bayat
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Kenan Ilarslan: Afyon Kocatepe University, Bolvadin Faculty of Applied Sciences, Department of Accounting and Financial Management, Afyonkarahisar, Turkiye
Tugrul Bayat: Afyon Kocatepe University, Faculty of Economics and Administrative Sciences, International Trade and Finance Department, Afyonkarahisar, Turkiye

Istanbul Journal of Economics-Istanbul Iktisat Dergisi, 2024, vol. 73, issue 74-1, 121-157

Abstract: Carbon emission is one of the most significant causes of environmental degradation, global warming, and extraordinary meteorological events. It has reached a level that threatens the future of countries and human beings. To combat carbon emission, it is necessary to know the causes for developing policies. Environmental quality is a fundamental aspect of sustainable development in economies worldwide. In this context, Eurasian geography has always been an important region in the history of the world with its location, underground, and surface resources. Today, the region makes its strategic importance even more evident. The communist USSR ruled Eurasian countries, which served as a buffer between the Western world and China for many years. These countries, which gained their independence in the 1990s, have not yet fully captured the values of the modern world, such as democracy and a free market economy. This study focuses on Eurasian countries. This study aimed to determine the factors affecting carbon emissions. Foreign direct investment and transportation contribute significantly to carbon emission, which reduces environmental quality. Therefore, in this study, we investigated whether rail and road passenger transport and foreign direct investment affect carbon emission in Eurasian countries. The concurrent panel quantile regression method was used to estimate this relationship between 1992 and 2020. The results revealed that rail and road passenger transport and foreign direct investment increase emissions. Additionally, no clear result could be obtained regarding the effect of the GDP per capita variable. To support these findings, analyses were performed using the robust quantile regression method, and strong empirical evidence was obtained, particularly for the impacts of foreign direct investment and rail passenger transport on emissions.

Keywords: Environmental quality; Transportation; Foreign direct investment; Quantile regression JEL Classification:Q50; L91; F21; C21 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ist:journl:v:73:y:2024:i:1:p:121-157

DOI: 10.26650/ISTJECON2023-1297708

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