Browsing by Author "Hodzic, Sabina"

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Do energy and environmental taxes stimulate or inhibit renewable energy deployment in the European Union?
(PERGAMON-ELSEVIER SCIENCE LTD, 2023) Dogan, Eyup; Hodzic, Sabina; Sikie, Tanja Fatur; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Doğan, Eyüp
The modern lifestyle and economic development of the European Union countries are closely connected to high energy consumption and environmental pollution. Renewable energy has arisen as one solution to this problem, even though the obstacles and challenges regarding the deployment of renewable energy lie in high costs, technology and legislation. The investigation of the determinants of renewable energy has become very attractive and popular because of the Sustainable Development Goals and COP26 targets. Therefore, this paper aims to explore the role of energy taxes and environmental taxes in addition to that of economic and environmental indicators in renewable energy development for the panel of EU countries by applying reliable and robust econometric techniques to the annual data from 1995 to 2019. The empirical results suggest that an increase in economic growth and oil prices supports renewable energy while environmental taxes and energy taxes have a negative impact on renewable energy deployment in EU countries. Thus, it is crucial to reform the structure of taxes to support the use of renewable energy. In addition, increasing environmental taxes to transform EU countries into energy-efficient economies will require additional EU policy adjustments.
Green environment in the EU countries: The role of financial inclusion, natural resources and energy intensity
(ELSEVIER, 2023) Hodzic, Sabina; Sikic, Tanja Fatur; Dogan, Eyup; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
The European Union pursues the European Green Deal strategy as well as Sustainable Development Goals, the main target of which is to become a carbon-neutral continent by 2050. Hence, a lot of environmental challenges need to be solved. Possible determinants in mitigating environmental challenges are financial inclusion, natural resources and interaction with a green environment. This concept implies preserving natural resources and a clean environment for future generations. However, there is still no clear evidence in the literature on how natural resources and financial inclusion interact with the green environment in the EU. Therefore, this paper aims at filling this gap. In order to obtain empirical results, the quantile regression econometric technique proposed by Koenker has been applied. The analyzed period was from 2004 to 2019 for EU-26 countries. The results show that higher energy intensity is the main cause of environmental degradation. However, financial inclusion in higher quantiles and natural resources rent lead to a reduction in carbon emissions. Our results also confirm that the EU has succeeded in decoupling economic growth from pollution. The robustness of the results was checked using a Powell's quantile regression, which confirmed the relationship between a green environ-ment and the variables analyzed. Thus, the results suggest that financial inclusion needs to be more integrated into energy and climate policies, especially in the early stages of development. In addition, large-scale green investments are needed in EU countries to further reduce energy intensity and create an effective green environment.