Testing the Impact of Banking Sector Development on Turkey’s Co2 Emissions

Samour, Ahmed

doi:10.15666/aeer/1703_64976513

Cited by 42 publications

(36 citation statements)

References 35 publications

(41 reference statements)

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“…Thus, it suggests that a further increase in non-renewable energy consumption will lead to further environmental pollution in Turkey. These findings are in agreement with [28] and [1]. The coefficient of renewable energy was negative and significant for Turkey, which is in line with [23].…”

Section: Empirical Results and Discussionsupporting

confidence: 88%

“…Ref. [1] found that nonrenewable energy consumption positively affected Turkey's carbon emissions in the period from 1980 to 2014. However, according to the literature, there are many environmental and economic benefits of using renewable energy.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In recent decades, Turkey's integration into the world markets has increased as a result of the globalization of the world economy [1]. The Turkish markets are easily affected by global external shocks such as oil prices.…”

Section: Introductionmentioning

confidence: 99%

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Oil Price, Energy Consumption, and CO2 Emissions in Turkey. New Evidence from a Bootstrap ARDL Test

Abumunshar

Ağa

Samour³

2020

Energies

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The main objective of this research was to test the effect of oil prices, renewable and non-renewable energy consumption, and economic growth on Turkey’s carbon emissions by using three co-integration tests, namely, the newly-developed bootstrap autoregressive distributed lag (ARDL) testing technique as proposed by (McNown et al., 2018); the new approach involving the Bayer–Hanck (2013) combined co-integration test; and the H-J (2008) co-integration technique, which induces two dates of structural breaks. The autoregressive distributed lag model (ARDL), dynamic ordinary least squares (DOLS), canonical cointegrating regression (CCR), and fully modified ordinary least square (FMOLS) approaches were utilized to test the long-run interaction between the examined variables. The Granger causality (GC) analysis was utilized to investigate the direction of causality among the variables. The long-run coefficients of ARDL, DOLS, CCR, and FMOLS showed that the oil prices had a negative influence on CO2 emissions in Turkey in the long run. Furthermore, the findings demonstrate that non-renewable energy, which includes oil, natural gas, and coal, increased CO2 emissions. In contrast, renewable energy can decrease the environmental pollution. These empirical findings can be attributed to the fact that Turkey is heavily dependent on imported oil; more than 50% of the energy requirement has been supplied by imports. Hence, oil price fluctuations have severe effects on the economic performance in Turkey, which in turn affects energy consumption and the level of carbon emissions. The study suggests that the rate of imported oil in Turkey must be decreased by finding more renewable energy sources for the energy supply formula to avoid any undesirable effects of oil price fluctuations on the CO2 emissions, and also to achieve sustainable development.

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Section: Empirical Results and Discussionsupporting

confidence: 88%

Section: Literature Reviewmentioning

confidence: 99%

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Oil Price, Energy Consumption, and CO2 Emissions in Turkey. New Evidence from a Bootstrap ARDL Test

Abumunshar

Ağa

Samour³

2020

Energies

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“…Results of the study can therefore not be generalized for all sources of energy used in the countries and the rest of the world. Samour et al (2019) tested the impact of banking sector development on Turkey's CO2 emissions. From the study's ARDL estimates, improvements in the Turkish banking sector development led to increased energy consumption, which subsequently caused high CO2 emissions in the country.…”

Section: Energy-growth-emission Link At the Developing Country Levelmentioning

confidence: 99%

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

et al. 2020

Energy Exploration & Exploitation

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The purpose of this study was to examine the nexus amid economic growth, energy consumption and carbon emissions in G20 countries for the period 1992 to 2014. In order to obtain valid and reliable outcomes, more robust econometric techniques were employed. From the results, the studied panel was heterogeneous and cross-sectionally dependent. Also, the series of observed variables were first-differenced stationary and co-integrated. The key findings from the CCEMG and the AMG regression estimators adopted showed that economic growth and energy consumption promoted the emission of carbon in the countries. In addition, urbanization and foreign direct investments as control variables escalated the rate of the countries’ CO2 emissions. From the discoveries of the Dumitrescu and Hurlin panel causality test, a feedback causality between economic growth and CO2 emissions; energy consumption and CO2 emissions; and between urbanization and CO2 emissions were correspondingly unveiled. Howerver, a one-way caual link was evidenced from foreign direct investments to CO2 emissions. This exploration is vital because it will propel the countries to formulate policies that could help them to minimize their dependence on environmentally unfriendly energy sources, while promoting the usage of clean energies like solar, wind, biogas, biomass and hydropower among others. The study is also pertinent because it will aid the countries to plan, organize and implement environmental policies in compliance to their macroeconomic objectives. When this is accomplished, energy conservation policies implemented to minimize the emanation of CO2 will improve the countries’ economic growth.

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“…Also, it diffuses fewer pollutants to nature, and it can never be depleted worldwide. Renewable energy resources in Turkey are hydroelectric, wind solar, geothermal, biomass, and waves [ 3 ]. Turkey is the third country in the world with 1.28 million tons of oil equivalent (MTOE) in terms of producing geothermal energy worldwide, especially the Aegean territory has huge geothermal energy potential [ 2 ].…”

Section: Introductionmentioning

confidence: 99%

Impact of oil prices, the U.S interest rates on Turkey’s real estate market. New evidence from combined co-integration and bootstrap ARDL tests

2021

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The research aims to provide new empirical evidence by testing the impact of the external shocks namely: oil prices and the U.S interest rate on Turkey’s real estate market by using three techniques of co-integration tests namely: the newly developed bootstrap autoregressive distributed lag (ARDL) testing approach as proposed by (McNown et al. 2018), the new approach involving the Bayer-Hanck (2013) combined co-integration test, Hatemi-J (2008) co-integration testing approach. The ARDL model is utilized to explore the relationship between the variables. The findings show that the oil prices have a positive impact on Turkey’s real estate market, the results confirm that there is a significant impact of oil prices on Turkey’s real estate market through the domestic interest rate. Furthermore, the results demonstrated that there is a significant spillover influence of the U.S. interest rates on Turkey’s real estate market through oil prices and domestic interest rates. This study suggests that the following factors led to increasing the sensitivity and volatility of the Turkish real estate market to oil prices and the U.S. interest rate fluctuations: the presence of economic interdependence between the USA and Turkey, and the majority of the external debts and the reserve currency in Turkey are composed in the USD, and Turkey’s oil imports hit record high in last years. Finally, this article suggests that policymakers in Turkey should pay close attention to the effects of external shocks namely the oil prices and U.S. interest rates on Turkish markets to maintain economic and financial stability.

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Testing the Impact of Banking Sector Development on Turkey’s Co2 Emissions

Cited by 42 publications

References 35 publications

Oil Price, Energy Consumption, and CO2 Emissions in Turkey. New Evidence from a Bootstrap ARDL Test

Oil Price, Energy Consumption, and CO2 Emissions in Turkey. New Evidence from a Bootstrap ARDL Test

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

Impact of oil prices, the U.S interest rates on Turkey’s real estate market. New evidence from combined co-integration and bootstrap ARDL tests

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