Browsing by Author "Dogan, Eyup"

Now showing 1 - 20 of 85

Citation - WoS: 81
Citation - Scopus: 95
The Analysis of 'Financial Resource Curse' Hypothesis for Developed Countries: Evidence from Asymmetric Effects With Quantile Regression
(Elsevier Sci Ltd, 2020) Dogan, Eyup; Altinoz, Buket; Tzeremes, Panayiotis; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
A vast body of literature either proxies natural resource abundance with total rents or focuses on the natural resource curse hypothesis. Furthermore, most empirical studies in the literature use traditional estimation methods. To fill the mentioned gaps, this study investigates the financial resource curse hypothesis by using the linkage between financial development and four natural resource rents (oil rents, coal rents, forest rents and natural gas rents) and applying the panel quantile regression with fixed effects on a dataset for a group of developed countries. This study finds that oil rents, coal rents, forest rents and natural gas rents have a positive effect on financial development, which supports financial resource blessing against financial resource curse for developed countries. In addition, a robust examination is conducted by applying the Canay two-step framework. The outcomes verify the main findings although the incremental effect on financial development of forest rents is greater than the other three proxies. This situation can be described as critical for the sustainability of developments related to natural resource rents in financial development and new set of suggestions can be made for policymakers.
Citation - WoS: 110
Citation - Scopus: 114
Analysis of CO2 Emissions and Energy Consumption by Sources in MENA Countries: Evidence From Quantile Regressions
(Springer Heidelberg, 2021) Alharthi, Majed; Dogan, Eyup; Taskin, Dilvin; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The development of economies and energy usage can significantly impact the carbon dioxide (CO2) emissions in the Middle East and North Africa (MENA) countries. Therefore, this study aims to analyze the factors that determine CO2 emissions in MENA under the environmental Kuznets curve (EKC) framework by applying novel quantile techniques on data for CO2 emissions, real income, renewable and non-renewable energy consumption, and urbanization over the period from 1990 to 2015. The results from the estimations suggest that renewable energy consumption significantly reduces the level of emissions; furthermore, its impact increases with higher quantiles. In addition, non-renewable energy consumption increases CO2 emissions, while its magnitude decreases with higher quantiles. The empirical results also confirm the validity of EKC hypothesis for the panel of MENA economies. Policymakers in the region should implement policies and regulations to promote the adoption and use of renewable energy to mitigate carbon emissions.
Citation - WoS: 83
Citation - Scopus: 90
Analysis of the Spillover Effects Between Green Economy, Clean and Dirty Cryptocurrencies
(Elsevier, 2023) Sharif, Arshian; Brahim, Mariem; Dogan, Eyup; Tzeremes, Panayiotis; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Cryptocurrencies have been widely used as financial instruments over the past decade. Given the development of the cryptocurrency market and the increasing awareness of greener and more energy-efficient tokens, their connection to the green economy has become a popular topic for understanding economic and policy issues. However, the literature still lacks clear evidence on how cryptocurrencies interact with green economy in-dicators. Therefore, this study examines the correlations and spillover relationships between green economy indices, five black cryptocurrencies, and five clean cryptocurrencies for the U.S., Euro, and Asian markets. To this end, it applies the novel quantile spillover index approach of Ando et al. (2018) to daily data from November 9, 2017, to April 4, 2022. The empirical results show that the overall linkage is stronger for green economy indices and clean cryptocurrencies than for dirty cryptocurrencies. Moreover, green economy indices show net receiving behavior, while cryptocurrencies' results differ across variables, quantiles, and time. In addition, a notable point for clean cryptocurrencies is 2020, which was the start of the COVID-19 pandemic. The overall spillover effect is very high for all quantiles for the three markets, especially for Asia. This outcome signifies the safe harbor property for diversification purposes of the green economy. The results presented in this study are important for investors, regulators and, policymakers, cryptocurrency founders as they seek to be financially integrated and develop a more sustainable business.
Citation - WoS: 135
Citation - Scopus: 156
Analyzing the Determinants of Carbon Emissions from Transportation in European Countries: The Role of Renewable Energy and Urbanization
(Springer, 2020) Amin, Azka; Altinoz, Buket; Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The continuous growth of transport sector and the increase in carbon emissions from transportation attract the attention of policy makers in sustainable transportation. Therefore, it is of great importance to understand the determinants of pollution from transportation. The aim of this study is to analyze the impacts of economic growth, renewable energy consumption and urbanization on CO2 emissions from transport sector in an Environmental Kuznets Curve (EKC) framework for European countries. To end this, second-generation panel long-run estimates and non-causality test are applied on the dataset from 1980-2014. Empirical pieces of evidence show that increases in renewable energy consumption mitigate carbon emissions from transportation, while urbanization has statistically insignificant positive impact on pollution. An increase in renewable energy consumption reduces CO2 from transportation by about 12 percent. The EKC hypothesis is validated. Moreover, unidirectional causality runs from renewable energy, economic growth and urbanization to emissions in transport sector. The findings of this study suggest strengthening the sustainable transportation system by promoting eco-friendly and energy-efficient modes of transportation and increase the environmental awareness of urban population and their overall concerns related to environmental issues caused by transportation. This study provides concrete evidence to the policy makers of European countries for especially sector-based renewable energy projects, drawing attention to the greenhouse gas impact of European transportation sector. [GRAPHICS] .
Citation - WoS: 53
Citation - Scopus: 42
Analyzing the Determinants of Renewable Energy: The Moderating Role of Technology and Macroeconomic Uncertainty
(Sage Publications Ltd, 2024) Chishti, Muhammad Zubair; Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
In line with the importance of SDG-7, a number of studies have endeavored to divulge the changes in renewable energy consumption (REC); however, the literature fails to either understand the importance of technology i.e., information communication technologies (ICT) and macroeconomic uncertainty in this context or employ robust econometric techniques. This research paper extends the prior literature by focusing on technology and macroeconomic uncertainty as novel determinants in addition to natural resources, human development, globalization, and economic growth as control variables of renewable energy for the top 10 renewable energy-consuming countries by applying several second and third generation econometric tests on annual data from 1990 to 2017. The empirical estimations determine ICT as a crucial factor of renewable energy, suggesting that it significantly triggers REC in the top economies. Conversely, the detrimental effects of uncertainty tend to shrink REC. Furthermore, natural resources, human development, globalization, and economic growth significantly boost REC as consistent with the existing literature. Based on these findings, this study suggests several SGD-oriented policies.
Citation - WoS: 142
Citation - Scopus: 155
Analyzing the Effects of Real Income and Biomass Energy Consumption on Carbon Dioxide (Co2) Emissions: Empirical Evidence from the Panel of Biomass-Consuming Countries
(Pergamon-Elsevier Science Ltd, 2017) Dogan, Eyup; Inglesi-Lotz, Roula; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Even though the energy-growth-environment literature put a lot of effort into investigating the impact on carbon dioxide (CO2) emissions of aggregate energy consumption, aggregate renewable energy consumption and aggregate non-renewable energy consumption, the importance of biomass energy consumption for the environment is not well covered. Besides, the existing studies do not reach a consensus on the validity of the Environmental Kuznets Curve (EKC) hypothesis. Therefore, this study fulfills the gaps in the literature by investigating the impact of biomass energy consumption on CO2 emissions in the EKC model for the panel of biomass-consuming countries. By using some control variables and applying econometric approaches that take into account heterogeneity and cross-sectional dependence across countries in the panel, we find that the EKC hypothesis is valid and biomass energy consumption decreases the level of CO2 emissions. These results are supportive of the international notion that investing in biomass energy infrastructure and biomass supply are an appropriate direction the energy policy makers can use in their efforts to reduce environmental degradation in the long-run. (C) 2017 Elsevier Ltd. All rights reserved.
Citation - WoS: 389
Citation - Scopus: 417
Analyzing the Environmental Kuznets Curve for the EU Countries: The Role of Ecological Footprint
(Springer Heidelberg, 2018) Destek, Mehmet Akif; Ulucak, Recep; Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
A great majority of the environmental Kuznets curve (EKC) literature use CO2 emissions to proxy for environmental degradation. However, this is an important shortage in application of the EKC concept because environmental degradation cannot be captured by CO2 emissions only. By using a broader proxy, ecological footprint, this study aims to investigate the presence of environmental Kuznets curve hypothesis for the EU countries. The annual data from 1980 to 2013 is examined with second generation panel data methodologies which take into account the cross-sectional dependence among countries. The results show that there is U-shaped relationship between the real income and ecological footprint. In addition, non-renewable energy increases the environmental degradation while renewable energy and trade openness decrease the environmental degradation in the EU countries. Policy implications are further discussed.
Citation - WoS: 166
Citation - Scopus: 186
Analyzing the Impacts of Geopolitical Risk and Economic Uncertainty on Natural Resources Rents
(Elsevier Sci Ltd, 2021) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The determinants of natural resources rents have been extensively analyzed in the resources economics and policy literature; however, the role of geopolitical risk and uncertainty in rents remains unexplored. Given that these indicators are rather volatile and thus important to discover for developing countries which own a large portion of natural resources in the world, this study aims to examine the effects of geopolitical risk and economic policy uncertainty on natural resources rents in a group of developing economies by applying the novel panel quantile estimation technique on the panel data over 1985-2018. The empirical results suggest that geopolitical risk has a negative impact on the natural resources rents for all quantiles while economic growth increases natural resources rents across middle-and-high quantiles. In contrast, the influence of economic policy uncertainty on resources rents varies across the quantiles. The uncertainty increases natural resources rents in low quantiles and decreases rents in high quantiles. Thus, quantile regression results reveal heterogeneous impacts of the selected main determinants of natural resources rents. Important policy implications are further discussed in the study.
Citation - WoS: 150
Citation - Scopus: 167
Analyzing the Linkage Between Renewable and Non-Renewable Energy Consumption and Economic Growth by Considering Structural Break in Time-Series Data
(Pergamon-Elsevier Science Ltd, 2016) Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Even though a number of studies investigate the energy-growth nexus, only a small number of the existing studies use estimation techniques with structural break. Furthermore, majority of the existing studies use aggregate energy consumption and thus fail to identify the effects of energy consumption by sources on economic growth. By taking into account the importance of structural break, this study analyzes the short run and the long run estimates as well as the causality relationship between economic growth, renewable and non-renewable energy consumption for Turkey in a multivariate model wherein capital and labor are included as additional variables. By including additional variables into the model, we also attempt to handle omitted-variable bias problem. This study finds that renewable energy consumption has an insignificant impact on economic growth while non-renewable energy consumption has a significant positive effect on it. The coefficients on capital and labor are statistically significant. Furthermore, we have enough evidence to support conservation hypothesis and feedback hypothesis between renewable energy consumption and economic growth in the short run and the long run, respectively, and feedback hypothesis between non-renewable energy consumption and economic growth both in the short run and the long run. Several policy implications are further discussed. (C) 2016 Elsevier Ltd. All rights reserved.
Citation - WoS: 127
Citation - Scopus: 141
Analyzing the Nexus Between Energy Transition, Environment and ICT: A Step Towards COP26 Targets
(Academic Press Ltd- Elsevier Science Ltd, 2023) Tzeremes, Panayiotis; Dogan, Eyup; Alavijeh, Nooshin Karimi; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
In line with the Sustainable Development Goals and the recent COP26 summit, energy transition, low carbon emissions and technology have become extremely important subjects in the agenda of governments and poli-cymakers. The present study thus discusses the nexus between energy transition, economic growth, CO2 emis-sions and information and communications technology (ICT) in BRICS countries applying the novel GMM-PVAR method proposed on the annual data for the period 2000-2017. This method is strong to the issue of endogeneity which is commonly faced in the context of panel data analysis but mostly ignored in the literature. The findings of this research demonstrate that carbon emissions have a positive and significant effect on energy transition; similarly, raising economic growth augments the consumption of energy transition. Furthermore, ICT is found to be a significant choice in the development of energy transition and the solution of environmental challenges. Overall, technological factors in addition to economic and environmental factors also have great roles in the development of renewable energy and energy transition. Thus, results from this study call for government supports to develop ICT across the BRICS countries.
Citation - Scopus: 19
Analyzing the Nexus Between Environmental Sustainability and Clean Energy for the USA
(Springer, 2024) Dogan, Eyup; Si Mohammed, Kamel; Khan, Zeeshan Anis; BinSaeed, Rima Hassan; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Environmental sustainability is a key target to achieve sustainable development goals (SDGs). However, achieving these targets needs tools to pave the way for achieving SDGs and COP28 targets. Therefore, the primary objective of the present study is to examine the significance of clean energy, research and development spending, technological innovation, income, and human capital in achieving environmental sustainability in the USA from 1990 to 2022. The study employed time series econometric methods to estimate the empirical results. The study confirmed the long-run cointegrating relationship among CO2 emissions, human capital, income, R&D, technological innovation, and clean energy. The results are statistically significant in the short run except for R&D expenditures. In the long run, the study found that income and human capital contribute to further aggravating the environment via increasing CO2 emissions. However, R&D expenditures, technological innovation, and clean energy help to promote environmental sustainability by limiting carbon emissions. The study recommends investment in technological innovation, clean energy, and increasing R&D expenditures to achieve environmental sustainability in the USA. © 2024 Elsevier B.V., All rights reserved.
Citation - WoS: 38
Citation - Scopus: 36
Analyzing the Nexus of COVID-19 and Natural Resources and Commodities: Evidence From Time-Varying Causality
(Elsevier Sci Ltd, 2022) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Even though a few studies have focused on natural resources and commodity sectors by considering the pandemic, they have only compared their status in pre-COVID19 to post-COVID19. None of the studies has directly examined the causal relationship between the pandemic, and natural resource index and the primary commodity-related sector indices. This study fills the gap of exploring the dynamic association between them by analyzing the causal relationship between the COVID19, and natural resources index and the primary commodity-related sectors (i.e., agribusiness, energy, and metals & mining) by applying a novel time-varying causality test on daily data from January 23, 2020, to November 12, 2021. The empirical results support the presence of time-varying causality from COVID19 to natural resources, agribusiness, energy and metals & mining. The results obtained from the rolling window algorithm support causal linkages between the variables however at several points it fails to capture the dynamics of linkages between the variables which is captured by the recursive window algorithm. The outcome is robust when the pandemic is proxied by either number of cases or deaths. Similarly, the findings obtained from heteroskedastic-robust specification also validate our findings. Several policy implications are further discussed in the study.
Citation - WoS: 51
Citation - Scopus: 58
Analyzing the Nexus of Green Economy, Clean and Financial Technology
(Elsevier, 2022) Metawa, Noura; Dogan, Eyup; Taskin, Dilvin; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The connection between the green economy, technology, and finance has recently become a popular topic for analyzing economic and policy matters. Financial technology can provide not only an opportunity to tap into new pools of private capital to finance green and sustainable projects through innovative financial instruments but also provide support to clean technologies through the adoption of voluntary sustainability codes of conduct. However, there is still a lack of clear scientific evidence in the literature about how the green economy interacts with these relevant indicators of sustainable finance. Thus, this paper examines the time-varying causal relationship between indexes of financial technology (FinTech), clean technology (CleanTech), and the green economy (GECON), by applying the novel method proposed by Shi et al. (2018, 2020) on daily data from June 15, 2012 to December 15, 2021. This study finds a higher volatility and causality running from GECON to CleanTech and FinTech for the entire period. Furthermore, the green economy Granger causes FinTech and CleanTech with very significant episodes, especially at the start of the COVID-19 pandemic. The robustness of the results was checked with a rolling window and recursive evolving techniques that overall confirm bidirectional causal relationships between green economy and technology variables. The findings imply that global initiatives to achieve low-carbon economies need to be complemented with the use of clean technologies in the production process and the continuous digitalization of financial sectors. The promotion of clean technology production by governments and the increased interest of investors in FinTech industries will stimulate green economic growth.(c) 2022 Published by Elsevier B.V. on behalf of Economic Society of Australia, Queensland.
Citation - WoS: 42
Citation - Scopus: 50
Analyzing the Relationship Between Energy Efficiency and Environmental and Financial Variables: A Way Towards Sustainable Development
(Pergamon-Elsevier Science Ltd, 2022) Taskin, Dilvin; Dogan, Eyup; Madaleno, Mara; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The literature has mainly relied on an annual and short span of data to analyze the relationship between energy, environmental and financial indicators. This study analyzes the relationship between energy efficiency, energy research, pollution mitigation, and FinTech by applying two novel methods-the causality test in the frequency domain [11] and the causality test in the time domain (Shi et al., 2018; 2020) on the daily data from June 17, 2016 to November 16, 2021. Empirical results from the frequency domain test report that pollution mitigation temporarily causes energy efficiency only in the short run while energy efficiency Granger causes it in the short, medium, and long run. Furthermore, energy efficiency can predict FinTech in the short, medium, and long-run; on the other way, FinTech Granger causes energy efficiency in the long and medium run, suggesting a permanent causality relationship. Empirical results from the time-varying test show a bidirectional relationship between energy efficiency, and environmental and financial variables, especially with very high significant episodes around the recent pandemic collapse. Policymakers should promote the launch of financial technologies that will provide finance through green bonds for energy efficiency improvements as well as energy efficiency improvements for pollution mitigation. Further policy implications are discussed in the study.(c) 2022 Elsevier Ltd. All rights reserved.
Citation - WoS: 40
Citation - Scopus: 44
Analyzing the Role of Renewable Energy and Energy Intensity in the Ecological Footprint of the United Arab Emirates
(MDPI, 2022) Dogan, Eyup; Shah, Syed Faisal; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Even though a great number of researchers have explored the determinants of environmental pollution, the majority have used carbon emissions as an indicator while only recent studies have employed the ecological footprint which is a broader and more reliable indicator for the environment. The present study contributes to the literature by exploring for the first time in the literature the role of real output, energy intensity (technology), and renewable energy in the ecological footprint under the STIRPAT framework for a Gulf Cooperation Council (GCC) country-the United Arab Emirates. By applying the novel bounds testing with dynamic simulations on the data from 1992-2017, the findings of this paper reveal that energy intensity and renewable energy have a negative and significant influence on the ecological footprint but real output has a positive and significant impact on it. In other words, the empirical results indicate that a rise in the real income increases environmental pollution while increases in renewable energy and advances in technology mitigate the level of emissions. The findings also suggest that the government should establish new programs, investment opportunities, and incentives in favor of energy intensity-related technology and renewable energy for the sake of environmental sustainability. The outcomes from this research analysis are useful for policymakers, industrial partners, and project designers in the United Arab Emirates.
Citation - WoS: 55
Citation - Scopus: 65
Analyzing the Tourism-Energy Nexus for the Top 10 Most-Visited Countries
(MDPI, 2017) Isik, Cem; Dogan, Eyup; Ongan, Serdar; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
By using the Emirmahmutoglu-Kose bootstrap Granger non-causality method, this study explores the directions of causality among tourist arrivals, tourism receipts, energy consumption and economic growth for the top 10 most-visited countries (France, the USA, Spain, China, Italy, Turkey, Germany, the United Kingdom, Russia, and Mexico) in the world. This study finds a variety of causal directions between the pair of analyzed variables for each country and the panel. Since cross-sectional dependence exists across the top countries for the analyzed variables, the bootstrap Granger causality test that accounts for the mentioned issue in the estimation process presumably produces reliable and accurate outputs. Further results and policy implications are discussed in this empirical study.
Citation - WoS: 48
Citation - Scopus: 59
Are Clean Energy and Carbon Emission Allowances Caused by Bitcoin? A Novel Time-Varying Method
(Elsevier Sci Ltd, 2022) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The bitcoin market has substantially grown in recent years. The researchers are exploring its various repercussions for socioeconomic and political matters; however, the literature still lacks clear evidence on how bitcoin interacts with energy and the environment. This study aims to explore the causal relationship between bitcoin, clean energy, and carbon emissions allowances by applying the novel time-varying Granger causality test on the daily data spanning from Sept 17, 2014, to October 12, 2021. The empirical findings confirm that both clean energy and emission allowances are causally associated with bitcoin. However, this causal relationship varies over time and the duration of causality is longer as suggested by the recursive evolving procedure. The outcome is robust when bitcoin is measured by the volume and the price. Furthermore, the results obtained from robustness analysis conducted through heteroskedastic consistent test also validate the findings that bitcoin causes clean energy and carbon allowance. The findings offer a platform for government officials and policy managers to improve clean energy and carbon allowance markets for sustainable development by managing and using the tools to control and regulate cryptocurrency markets.
Citation - WoS: 28
Citation - Scopus: 31
Are Shocks to Electricity Consumption Transitory or Permanent? Sub-National Evidence From Turkey
(Elsevier Sci Ltd, 2016) Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
This is the first study that aims to investigate policy shocks to energy consumption in terms of unit root properties by sector. More precisely, we analyze the stationarity of electricity consumption for 12 regions of Turkey by four sectors in addition to total electricity consumption by region (for a total of 60 cases). We find that 48 cases are non-stationary and 12 cases are stationary. Thus, policies to decrease or stimulate the use of electricity have permanent effects on electricity consumption in 80% of the cases and transitory effects in the rest. Findings and policy implications are further discussed. (C) 2016 Elsevier Ltd. All rights reserved.
Citation - WoS: 14
Citation - Scopus: 18
Can Artificial Intelligence and Green Finance Affect Economic Cycles?
(Elsevier Science inc, 2024) Chishti, Muhammad Zubair; Dogan, Eyup; Binsaeed, Rima H.; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
The COVID-19 recession and the Ukraine-Russia War (URW) crisis have added a new layer of complexity to global economic cycles, necessitating the evolution of economic systems and proactive responses to emerging economic challenges. In this context, the recent article introduces artificial intelligence (AI) as a new driver of economic cycles and analyzes its dynamic role alongside the Belt and Road Initiative (BRI), the Paris Agreement (PA), green finance (GB), and economic shocks (ES) in determining global economic cycles. The article employs novel econometric tools, namely the CAViaR-TVP-VAR model, the Quantile Coherence method, panel Quantile on Quantile Kernel-Based Regularized Least Squares (PQQKRLS), and the Quantile-Quantile Granger causality (QQGC) test for robust findings. The outcomes reveal that AI influences economic cycles in the short run while significantly mitigating these cycles in the medium and long run. Furthermore, the BRI exhibits a positive link with economic cycles during the short and medium run; however, it can contribute to economic stability in the long run by impeding economic fluctuations. Similarly, green finance and the PA show mixed influences across various time horizons, except for the long run, which confirms their negative association with economic cycles. Additionally, ES has a direct link with economic cycles across most periods. The robustness check based on the QQGC test and PQQKRLS method supports the main results. Our results identify AI, BRI, and the PA as new drivers of economic cycles with the potential to counter global economic cycles. Therefore, based on these findings, the study proposes several policy implications tailored to different time horizons.
Citation - WoS: 12
Citation - Scopus: 14
CO2 Emissions, Real GDP, Renewable Energy and Tourism: Evidence From Panel of the Most-Visited Countries
(Cesky Statistical office, 2017) Dogan, Eyup; 01. Abdullah Gül University; 03.02. Ekonomi; 03. Yönetim Bilimleri Fakültesi
Previous studies on the energy-environment-growth literature overlook the investigation of the most-visited countries. Since these countries do not only belong to the largest economies and the top carbon dioxide (CO2) emitters in the world but are also listed in renewable energy country attractiveness index, this study analyzes the impacts of real GDP, renewable energy and tourism on the level of CO2 emissions for the top 10 most-visited countries. Applying several panel econometric approaches, we find out that renewable energy mitigates the pollution whereas real GDP and tourism contribute to the level of emissions. Thus, regulatory policies are necessary to increase the awareness of sustainable tourism. In addition, the use of renewable energy and the adoption of clean technologies in tourism sector as well as in producing goods and services play a significant role in CO2 mitigation.