Doğrudan Yabancı Yatırımlar ve CO2 Emisyonları İlişkisi: OECD Ülke Grubu Üzerine Bir Analiz

İklim değişikliği çevreye ve dolayısıyla insan yaşamına etkileri bakımından son yılların en çok tartışılmakta olan konuları arasında yer almaktadır. İklim değişikliğinin temel nedenlerinden biri CO2 emisyonlarının sera etkisi yaratmasıdır. CO2 emisyonlarının önemli bir kısmı ekonomik faaliyetlerden kaynaklanmaktadır. Çeşitlilik göstermekle birlikte bu ekonomik faaliyetlerin kaynaklarından biri, bir ülkeye başka ülkelerden yapılan doğrudan yabancı yatırımlardır (DYY). Bu çalışmanın amacı doğrudan yabancı yatırımlar ile karbondioksit (CO2) emisyonları arasındaki nedensellik ilişkisinin ampirik olarak araştırılmasıdır. Çalışma 35 OECD ülkesinden oluşan panelde 1996-2018 dönemi için yapılmıştır. Çalışmanın temel yöntemi Dumitrescu-Hurlin Nedensellik Analizi’dir. Bu analizden elde edilen temel bulguların başında doğrudan yabancı yatırımlar, ekonomik büyüme ve nüfusun, CO2 emisyonları ile herhangi bir nedensellik ilişkisine sahip olmaması, buna karşın yenilenebilir enerji tüketiminden CO2 emisyonlarına doğru tek yönlü bir ilişkinin olduğu gelmektedir. Çalışmadan çıkan bir diğer önemli sonuç CO2 emisyonlarının iklim değişikliğinin yarattığı risklere karşı savunmasızlığın nedeni olduğudur.

The Relationship Between Foreign Direct Investments and CO2 Emissions: An Analysis on the OECD Countries

Climate change is one of the most discussed topics of recent years in terms of its effects on the environment and therefore human life. One of the main causes of climate change is that CO2 emissions conduce to greenhouse effect. A significant part of CO2 emissions are due to economic activity. One of the economic activities in question is foreign direct investments to the a country that make from other countries. The aim of this study is to empirically investigate the causality relationship between foreign direct investments and carbon dioxide (CO2) emissions. The study was conducted in a panel of 35 OECD countries for the period 1996-2018. The main method of the study is Dumitrescu Hurlin Causality Analysis One of the main findings of the study is that there is no causality relationship with foreign direct investments, economic growth and population CO2 emissions, however, there is a one-way relationship from renewable energy consumption to CO2 emissions. Another important conclusion from the study is that CO2 emissions are the cause of its vulnerability to climate change.

___

  • Abdouli, M. ve Hammami, S. (2020). Economic Growth, Environment, FDI Inflows, and Financial Development in Middle East Countries: Fresh Evidence from Simultaneous Equation Models. Journal of the Knowledge Economy, 11(2), 479–511.
  • Acheampong, A. O., Adams, S. ve Boateng, E. (2019). Do globalization and renewable energy contribute to carbon emissions mitigation in Sub-Saharan Africa? Science of the Total Environment, 677, 436–446. https://doi.org/10.1016/j.scitotenv.2019.04.353
  • Aslan, A., Altinoz, B. ve Polat, M.A. (2021). The nexus among climate change, economic growth, foreign direct investments, and financial development: New evidence from N-11 countries. Environmental Progress & Sustainable Energy, 40(3), 1-9. https://doi.org/10.1002/ep.13585
  • Balli, E., Sigeze, C., Ugur, M. S. ve Çatık, A. N. (2021). The relationship between FDI, CO2 emissions, and energy consumption in Asia-Pacific economic cooperation countries. Environmental Science and Pollution Research, 1–18. https://doi.org/10.1007/s11356-021-17494-3
  • Blanco, L., Gonzalez, F., ve Ruiz, I. (2013). The Impact of FDI on CO2 Emissions in Latin America. Oxford Development Studies, 41(1), 104–121. https://doi.org/10.1080/13600818.2012.732055
  • Dumitrescu, E.I. ve Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450–1460. https://doi.org/10.1016/j.econmod.2012.02.014
  • Farooq, U. (2022). Foreign direct investment, foreign aid, and CO2 emissions in Asian economies: does governance matter? Environmental Science & Pollution Research, 29(5), 7532–7547.
  • Fauzel, S. (2017). The impact of FDI on CO2 emission in a small island developing state: A cointegration approach. Economics & Business Letters, 6(1), 6–13.
  • Golub, S.S., Kauffmann, C. ve Yeres, P. (2011). Defining And Measuring Green FDI: An Exploratory Review Of Existing Work And Evidence. OECD Working Papers On International Investment. DOI: 10.1787/5kg58j1cvcvk-en
  • Hille, E., Shahbaz, M. ve Moosa, I. (2019). The impact of FDI on regional air pollution in the Republic of Korea: A way ahead to achieve the green growth strategy? Energy Economics, 81, 308–326. https://doi.org/10.1016/j.eneco.2019.04.004 Hoffman, R., Lee, C.G., Ramasamy, B. ve Yeung, M. (2005) FDI and pollution: a granger causality test using panel data. Journal of International Development, 17(3) 311–317.
  • Huynh, C.M. ve Hoang, H.H. (2022). Foreign Direct Investment and Air Pollution in Asian Countries: Does Institutional Quality Matter? Applied Economics Letters 26 (17): 1388–1392. doi:10.1080/13504851.2018.1563668.
  • International Monetary Fund. IMF Datamapper Map (2020) https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD/USA Erişim Tarihi: 15.03.2022
  • Liu, S. ve Zhang, P. (2021). Foreign Direct Investment and Air Pollution in China: Evidence from the Global Financial Crisis. The Developing Economies. https://doi.org/10.1111/deve.12298
  • Mahmood, H., Alkhateeb, T. T. Y. ve Furqan, M. (2020). Exports, imports, Foreign Direct Investment and CO2 emissions in North Africa: Spatial analysis. Energy Reports, 6, 2403–2409. https://doi.org/10.1016/j.egyr.2020.08.038
  • Martinot, E., Sinton, J. ve Haddad, B. (1997). International technology transfer for climate change mitigation and the cases of Russia and China. Annual Review of Energy and the Environment, 22, 357–401.
  • Mintzer, I.M. (1992). Confronting Climate Change: Risks, Implications and Responses. Ed. W. G. Chaloner Journal of Ecology, 81(2), 386–387. https://doi.org/10.2307/2261512
  • Nasir, M. A., Huynh, D. T. L. ve Xuan, H. T. T. (2019). Role of financial development, economic growth & foreign direct investment in driving climate change: A case of emerging ASEAN. Journal of Environmental Management, 242, 131–141. https://doi.org/10.1016/j.jenvman.2019.03.112
  • Salahuddin, M., Alam, K., Ozturk, I. ve Sohag, K. (2018). The effects of electricity consumption, economic growth, financial development and foreign direct investment on CO2 emissions in Kuwait. Renewable and Sustainable Energy Reviews, 81(2), 2002–2010. https://doi.org/10.1016/j.rser.2017.06.009
  • Omri, A. ve Bel Hadj, T. (2020). Foreign investment and air pollution: Do good governance and technological innovation matter? Environmental Research, 185. https://doi.org/10.1016/j.envres.2020.109469
  • Pesaran, M. H. (2004). ‘General Diagnostic Tests for Cross Section Dependence in Panels.’ Cambridge Working Papers in Economics. https://ftp.iza.org/dp1240.pdf
  • Pesaran, M.H. (2007). A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M.H. ve Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics 142 (1): 50–93.
  • Ponce, P.ve Alvarado, R. (2019). Air pollution, output, FDI, trade openness, and urbanization: evidence using DOLS and PDOLS cointegration techniques and causality. Environmental Science and Pollution Research, 26(19), 19843–19858. https://doi.org/10.1007/s11356-019-05405-6
  • State of the Global Climate 2021: WMO Provisional Report (2021) World Meteorological Organization https://public.wmo.int/en/media/press-release/state-of-climate-2021-extreme-events-and-major-impacts WMO 2021
  • United States Environmental Protection Agency. Overview of Greenhouse Gases. https://www.epa.gov/ghgemissions/overview-greenhouse-gases Erişim Tarihi: 04.03.2021
  • World Investment Report (2021). UNCTAD https://unctad.org/system/files/official-document/wir2021_en.pdf
  • Zhang, Z. ve Maruyama, A. (2001). Towards a private–public synergy in financing climate change mitigation projects. Energy Policy, 29(15), 1363–1378. https://doi.org/10.1016/S0301-4215(01)00038-6
Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi-Cover
  • ISSN: 1308-5549
  • Başlangıç: 2011
  • Yayıncı: Çankırı Karatekin Üniversitesi