Ekonomi Bölümü Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12573/410

Browse

Now showing 1 - 20 of 140

50 years of Resources Policy – What is next? Key areas of future research
(ELSEVIER, 2024) Fleming-Muñoz, David; Campbell, Gary; Ley, Yalin; Arratia-Solar, Andrea; Aroca, Patricio; Atienza, Miguel; Dogan, Eyup; Ghosh, Gaurav; James, Alexander; Kumral, Mustafa; Measham, Thomas; Sarr, Mare; Shahbaz, Muhammad; Wang, Haoying; Weber, Jeremy; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
In 2024, Resources Policy reaches its 50th anniversary as a journal. Fifty years leading the field of mineral and fossil fuel policies and economic research worldwide. Considering this special milestone, we provide a forward-looking view in this paper, highlighting seven areas we believe are critical for robust research that Resources Policy should publish in the future. Leveraging our research expertise and knowledge with the journal, these seven areas of future research include implications of post-mining and energy transitions, the dark side of critical minerals, the increasing substitution of local labour by alternative inputs, the role of the resource curse in resilience considerations, the cleaner production role of mining, macroeconomic frameworks, and the future of mining beyond mines (deep-sea and space mining). We believe more research is needed in these seven research areas, which can enhance our understanding of critical aspects, reduce uncertainty, and provide novel ways to address societal, environmental, economic and policy challenges related to the extraction and use of minerals and fossil fuels.
Adjustment speed of debt maturity: Evidence from financial crises in East Asia
(Bank Indonesia Institute, 2021) Hasan Tekin; Ali Yavuz Polat; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Polat, Ali Yavuz
We investigate the change in adjustment speed of debt maturity for East Asian firms between 1990 and 2017 by including two exogenous shocks: the Asian Financial Crisis 1997-1998 (AFC) and the Global Financial Crisis 2007-2009 (GFC). We employ the least square dummy variable correction and find that East Asian firms have a slower adjustment of long-term debt over time. Besides, the decrease in adjustment speed of long-term debt after the GFC is more compared to the decrease after the AFC. Further analysis shows the optimal debt maturity differs across countries and industries. Another important implication of our results is that firms in high governance countries are more likely to close the gap between the actual and target debt maturity in time. Overall, debt holders and investors should consider financial uncertainties. © 2021 Ege Universitesi. All rights reserved.
The Age Structure, Stringency Policy, Income, and Spread of Coronavirus Disease 2019: Evidence From 209 Countries
(FRONTIERS MEDIA SAAVENUE DU TRIBUNAL FEDERAL 34, LAUSANNE CH-1015, SWITZERLAND, 2021) Bilgili, Faik; Dundar, Munis; Kuskaya, Sevda; Lorente, Daniel Balsalobre; Unlu, Fatma; Gencoglu, Pelin; Mugaloglu, Erhan; 0000-0001-5362-6259; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Mugaloglu, Erhan
This article aims at answering the following questions: (1) What is the influence of age structure on the spread of coronavirus disease 2019 (COVID-19)? (2) What can be the impact of stringency policy (policy responses to the coronavirus pandemic) on the spread of COVID-19? (3) What might be the quantitative effect of development levelincome and number of hospital beds on the number of deaths due to the COVID-19 epidemic? By employing the methodologies of generalized linear model, generalized moments method, and quantile regression models, this article reveals that the shares of median age, age 65, and age 70 and older population have significant positive impacts on the spread of COVID-19 and that the share of age 70 and older people in the population has a relatively greater influence on the spread of the pandemic. The second output of this research is the significant impact of stringency policy on diminishing COVID-19 total cases. The third finding of this paper reveals that the number of hospital beds appears to be vital in reducing the total number of COVID-19 deaths, while GDP per capita does not affect much the level of deaths of the COVID-19 pandemic. Finally, this article suggests some governmental health policies to control and decrease the spread of COVID-19.
Agency Theory: A Review in Finance
(TÜBİTAK ULAKBİM Ulusal Akademik Ağ ve Bilgi Merkezi Cahit Arf Bilgi Merkezi, 2020) Ali Yavuz POLAT; Hasan TEKİN; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
The problems of agency and risk sharing arise due to the separation of ownership and control of a large firm, when conflicts of interest exist between principals (owners) and agents (managers). The main source of these problems is asymmetric information, which implies an agency cost for the principal. Agency theory, which is still one of the fundamental theories in corporate finance, focuses on minimizing costs in agency relations. This study critically evaluates the principal-agent relations, focusing on the interaction between the shareholder-manager and bondholder-shareholder in corporate finance.
Airbnb and COVID-19: SPACE-TIME vulnerability effects in six world-cities
(Elsevier, 2022) Kourtit, Karima; Nijkamp, Peter; Östh, John; Türk, Umut; 0000-0002-8440-7048; 0000-0002-4068-8132; 0000-0002-7171-994X; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
This study examines the COVID-19 vulnerability and subsequent market dynamics in the volatile hospitality market worldwide, by focusing in particular on individual Airbnb bookings-data for six world-cities in various continents over the period January 2020–August 2021. This research was done by: (i) looking into factual survival rates of Airbnb accommodations in the period concerned; (ii) examining place-based impacts of intracity location on the economic performance of Airbnb facilities; (iii) estimating the price responses to the pandemic by means of a hedonic price model. In our statistical analyses based on large volumes of time- and space-varying data, multilevel logistic regression models are used to trace ‘corona survivability footprints’ and to estimate a hedonic price-elasticity-of-demand model. The results reveal hardships for the Airbnb market as a whole as well as a high volatility in prices in most cities. Our study highlights the vulnerability and ‘corona echoeffects’ on Airbnb markets for specific accommodation segments in several large cities in the world. It adds to the tourism literature by testing the geographic distributional impacts of the corona pandemic on customers’ choices regarding type and intra-urban location of Airbnb accommodations.
The analysis of 'Financial Resource Curse' hypothesis for developed countries: Evidence from asymmetric effects with quantile regression
(ELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2020) Dogan, Eyup; Altinoz, Buket; Tzeremes, Panayiotis; 0000-0002-0746-3839; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
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.
Analysis of CO 2 emissions and energy consumption by sources in MENA countries: evidence from quantile regressions
(Springer Nature 2021, 2021) Majed Alharthi; Eyup Dogan; Dilvin Taskin; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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.
Analysis of the spillover effects between green economy, clean and dirty cryptocurrencies
(ELSEVIER, 2023) Sharif, Arshian; Brahim, Mariem; Dogan, Eyup; Tzeremes, Panayiotis; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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.
Analyzing long lasting effects of environmental policies: Evidence from low, middle and high income economies
(ELSEVIER SCIENCE BV, PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS, 01.01.2019) Ozcan, Burcu; Ulucak, Recep; Dugan, Eyup; 0000-0001-8800-8880; 0000-0001-9938-0063; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
This study investigates whether or not environmental policies have long lasting effects by analyzing stochastic properties of ecological footprint that recently attracts a great attention and is accepted as a broader measure of the environmental degradation in the literature. To this end, countries are classified by income groups and the panel KSS unit root test alongside the SPSM procedure are utilized based on the annual data from 1961 to 2013. The empirical results show that ecological footprint has stationary process for all high-income countries and for about the half of the low-income and upper-middle income economies, whereas non-stationarity is verified for the lower-middle income economies. Crucial policy implications are further discussed.
Analyzing the determinants of carbon emissions from transportation in European countries: the role of renewable energy and urbanization
(SPRINGER, ONE NEW YORK PLAZA, SUITE 4600, NEW YORK, NY, UNITED STATES, 2020) Amin, Azka; Altinoz, Buket; Dogan, Eyup; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
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.
Analyzing the determinants of renewable energy: The moderating role of technology and macroeconomic uncertainty
(SAGE Publications Inc., 2022) Chishti, Muhammad Zubair; Dogan, Eyup; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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.
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 LTDTHE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2017) Dogan, Eyup; Inglesi-Lotz, Roula; 0000-0001-7509-4687; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
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.
Analyzing the environmental Kuznets curve for the EU countries: the role of ecological footprint
(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2018) Destek, Mehmet Akif; Ulucak, Recep; Dogan, Eyup; 0000-0002-2514-9405; 0000-0003-0476-5177; 0000-0001-9938-0063; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü
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.
Analyzing the impacts of geopolitical risk and economic uncertainty on natural resources rents
(ELSEVIER SCI LTDTHE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2021) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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.
Analyzing the linkage between renewable and non-renewable energy consumption and economic growth by considering structural break in time-series data
(PERGAMON-ELSEVIER SCIENCE LTDTHE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2016) Dogan, Eyup; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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.
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; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Doğan, Eyüp
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.
Analyzing the nexus of COVID-19 and natural resources and commodities: Evidence from time-varying causality
(ELSEVIER SCI LTD, 2022) Doğan, Eyüp; Majeed, Muhammad Tariq; Luni, Tania; 0000-0001-9374-5025; 0000-0003-0476-5177; 0000-0002-7022-1920; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Doğan, Eyüp
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.
Analyzing the nexus of green economy, clean and financial technology
(ELSEVIER, 2022) Metawa, Noura; Dogan, Eyup; Taskin, Dilvin; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Doğan, Eyüp
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.
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; 0000-0003-0476-5177; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Dogan, Eyup
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 cau- sality 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 environ- mental 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
Analyzing the Role of Renewable Energy and Energy Intensity in the Ecological Footprint of the United Arab Emirates
(MDPI, 2021) Doğan, Eyüp; Shah, Syed Faisal; 0000-0003-0476-5177; 0000-0003-4874-6509; AGÜ, Yönetim Bilimleri Fakültesi, Ekonomi Bölümü; Doğan, Eyüp
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.