Purpose
The purpose of this paper is to investigate the long-run effect of financial sector development, energy use and economic growth on carbon emissions for Turkey, in presence of possible regime shifts over a period of 1960-2013.
Design/methodology/approach
Along with the conventional unit root tests, Zivot-Andrews unit root test with structural break has been employed to check the stationarity of variables. The cointegrating relationship between variables is investigated by using the autoregressive distributed lag bounds test and Hatemi-J threshold cointegration test.
Findings
The results confirm a cointegrating relationship between the variables. The long-run relationship between the variables has gone through two endogenous structural breaks in 1976 and 1986. Development of financial sector improves environmental quality whereas energy use and economic growth degrade it. The results challenge the validity of environmental Kuznets curve hypothesis in Turkish economy.
Research limitations/implications
The study uses domestic credit to private sector as a proxy for development of financial sector. The model can be improved by constructing an index of financial development instead of using a single determinant as a proxy for financial development.
Practical implications
The study may pave the way for policy makers to capture important environmental pollutants in better way and develop effective and efficient energy and economic policies. This may make significant contribution to curbing CO2 emissions while sustaining economic growth.
Originality/value
This is the only study to examine long-run impact of financial sector development on carbon emissions, using the threshold cointegration approach. Hence, the study is a gentle request to reduce the possible omitted variable econometric estimation bias and fill the gap in the existing literature.
We revise the taxonomy of the agamid genus Sitana Cuvier, 1829, a widely distributed terrestrial lizard from the Indian subcontinent based on detailed comparative analyses of external morphology, osteology and molecular data. We sampled 81 locations spread over 160,000 km2 in Peninsular India including type localities, which represented two known and five previously undescribed species. Based on general similarity in body shape and dewlap all species were hitherto identified as members of the genus Sitana. However, Sitana deccanensis and two other morphotypes, which are endemic to north Karnataka and Maharashtra in Peninsular India, are very distinct from the rest of the known members of the genus Sitana based on their external morphology and osteology. Moreover, members of this distinct morphological group were monophyletic in the molecular tree, and this clade (clade 1) was sister to two well-supported clades (2 and 3) constituting the rest of the Sitana . The interclade genetic divergence in mtDNA between clade 1 and clades 2 and 3 was 21-23%, whereas clade 2 and clade 3 exhibited 14- 16% genetic divergence. Thus, we designate a new genus name “Sarada ” gen. nov. for species represented in Clade 1, which also includes the recently resurrected Sitana deccanensis . We describe two new species in Sarada gen. nov. and three new species in Sitana . Similarity in the dewlap of Sitana and Sarada gen. nov. is attributed to similar function (sexual signaling) and similarity in body shape is attributed to a similar terrestrial life style and/or common ancestry.
The faster growing energy consumption and urbanization are supporting economic growth but are contributing in the environmental degradation. The existing empirical literature has been remained silent on this serious issue in case of GCC countries. The present study captures these rectangular relationships amongst these variables in the GCC countries by using panel unit root and cointegration tests for a period 1980-2011. The study finds the first difference stationarity and existence of cointegration among the concerned variables. Further, urbanization has the positive impact on CO 2 , energy consumption and economic growth. Economic growth has a positive impact on CO 2 and has a negative impact on energy consumption. Energy consumption has a positive impact on CO 2 and CO 2 has a positive impact on energy consumption and economic growth. The causality tests also confirm the direction of relationships in the most of GCC countries in the country-specific analysis. The results of the study suggest the urban planning and clean energy consumption to avoid the pollutant emissions and to achieve sustainable development for GCC countries in the long run.
Joint thermal contact conductance h r Radiation heat transfer coefficient ΔT Temperature drop across the interface H Vickers hardness k Effective thermal conductivity, k = 2k 1 k 2 / (k 1 + k 2 ) m Effective arithmetic average slope, m = m 2 1 + m 2 2 P Normalized pressure, P = P H P Applied pressure Q Heat flow rate R qEffective root mean square roughness,U Q 1 , U Q 2 Uncertainties in the estimation of heat fluxes, Q 1 and Q 2
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