The foreıgn dırect ınvestments, economıc growth, renewable energy and carbon (CO2) emıssıons nexus: an empırıcal analysıs for Turkey and European Unıon Countrıes

ÇOMUK P., AKKAYA B., ERCOŞKUN S., Apostu S. A.

Environment, Development and Sustainability, 2023 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Basım Tarihi: 2023
  • Doi Numarası: 10.1007/s10668-023-03382-y
  • Dergi Adı: Environment, Development and Sustainability
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, International Bibliography of Social Sciences, PASCAL, ABI/INFORM, Agricultural & Environmental Science Database, Aquatic Science & Fisheries Abstracts (ASFA), BIOSIS, Business Source Elite, Business Source Premier, CAB Abstracts, Geobase, Greenfile, Index Islamicus, Pollution Abstracts, Veterinary Science Database, Civil Engineering Abstracts
  • Anahtar Kelimeler: Foreign direct investments, Economic growth, Renewable energy, Carbon (CO2) emission, Panel data analysis, EU countries, Turkey
  • Manisa Celal Bayar Üniversitesi Adresli: Evet

Özet

The aim of this study is to investigate the effects of foreign direct investment, economic growth and renewable energy variables on carbon (CO2) emissions belonging to 27 European Union member states and Turkey for the period of 2002–2019 by using a panel data model. In this study, the foreign direct investment variable is used as a share in GDP, the economic growth variable is reflected by the gross domestic product data in dollars per capita, the carbon emission data are estimated in million tons and renewable energy is calculated in total, as share of primary energy supply. The findings obtained from this study indicated the effect of the related variables on CO2 emissions was statistically significant, the impact of foreign direct investment and economic growth on CO2 emissions was positive, and the impact of renewable energy on CO2 emissions was negative. From the evidences obtained from the results of this study, it is seen that countries should apply policies prompting the utilization of clean and renewable energy sources in their economy in order to achieve sustainable economic growth. Properly designed policies in this direction are of vital importance to decrease carbon release and to enable the switching to low-carbon economy.