YENİLENEBİLİR ENERJİ VE KÜRESELLEŞME HİNDİSTAN'DA ÇEVRESEL SÜRDÜRÜLEBİLİRLİK İÇİN ÖNEMLİ Mİ? VECM VE ZAMAN FREKANS'TAN BİR KANIT

Bu çalışma, 1990-2018 dönemini kapsayan yıllık zaman serisi verileri kullanarak yenilenebilir enerji kullanımı ve küreselleşmenin Hindistan'daki çevresel sürdürülebilirlik üzerindeki dinamik etkisini analiz etmeyi amaçlamaktadır. ADF ve PP testleri kullanılarak serilerin durağanlık sıralaması belirlendikten sonra bu çalışmada VECM ve WTC modelleri kullanılmıştır. Bunun nedeni, VECM'nin değişkenler arasındaki dinamik şokları test etmede güçlü bir yöntem olmasıdır. Ayrıca VECM, varyans ayrıştırmasında güçlüdür ve uzun vadeli tahminleri gözlemleme olasılığıdır. WTC modeli ise, temel değişkenler arasındaki zaman frekansı bağımlılığını tespit etmemizi sağlar. Sonuçlar, çevresel kalitenin yenilenebilir kaynaklara olumsuz tepki verdiğini, küreselleşme ve ekonomik büyümenin ise çevrenin bozulmasını olumlu etkilediğini ortaya koymaktadır. Bu sonuçlar beklenir ve ilgili teoriler ve bazı ampirik bulgularla uyumludur. Hindistan son zamanlarda yenilenebilir enerjileri teşvik etmek için çok çeşitli enerji politikaları uygulamış olsa da, yine de büyük zorluklar devam ediyor ve birçok çaba gerekmektedir. Bu nedenle, gelecekteki politika yenilenebilir enerjideki gelişmeyi arttırmalı ve yenilenebilir enerji piyasasına yatırım için daha rekabetçi bir ortam yaratmalıdır.

Anahtar Kelimeler:

Hindistan, VECM, WTC, küreselleşme, yenilenebilir enerji ve ekolojik ayak izi

ARE RENEWABLE ENERGY AND GLOBALIZATION VITAL FOR ENVIRONMENTAL SUSTAINABILITY IN INDIA? EVIDENCE FROM VECM AND TIME FREQUENCY ANALYSES

This study aims to analyze the dynamic effect of renewable energy use and globalization on the environmental sustainability in India by utilizing annual time series data spanning the period 1990-2018. After identifying the series order of stationarity by utilizing ADF and PP tests, this study makes use of VECM and WTC models. The reason is that VECM is powerful method in testing the dynamic shocks among the variables. In addition, the VECM is the powerful in variance decomposition and the possibility of observing long run forecast. The WTC model on the other hand allows us to detect the time frequency dependence among the underlying variables. The results disclose that environmental quality reacts negatively to renewables while the globalization and economic growth seem positively impact the degradation of the environment. These outcomes are expected and consistent with relevant theories and some empirical findings. Although India has recently implemented a wide range of energy policies to promote renewables, however huge challenges still persistent and many efforts are required. Therefore, future policy should enhance the development in renewables and create more competitive environment for the investment in the renewable energy market.

Keywords:

India VECM, WTC, globalization, renewable energy, and ecological footprint,

PDF

___

Adebayo, T. S., and Kirikkaleli, D. (2021). Impact of Renewable Energy Consumption, Globalization, And Technological Innovation on Environmental Degradation in Japan: Application of Wavelet Tools. Environment, Development and Sustainability, 1-26.

Adewuyi, A.O., and Awodumi, O.B., (2017). Biomass Energy Consumption, Economic Growth and Carbon Emissions: Fresh Evidence from West Africa Using a Simultaneous Equation Model. Energy, 119: 453-471.

Adu, D. T., and Denkyirah, E. K. (2018). Economic growth and environmental pollution in West Africa: Testing the Environmental Kuznets Curve hypothesis. Kasetsart Journal of Social Sciences.

Ahmed, A., Uddin, G.S. and Sohag, K., (2016). Biomass Energy, Technological Progress and The Environmental Kuznets Curve: Evidence from Selected European Countries. Biomass and Bioenergy, 90:202-208.

Ali, W., Abdullah, A., and Azam, M. (2016). Re-visiting the environmental Kuznets curve hypothesis for Malaysia: fresh evidence from ARDL bounds testing approach. Renewable and sustainable energy reviews, 77, 990-1000.

Al-Mulali, U., Saboori, B., and Ozturk, I. (2015). Investigating the Environmental Kuznets Curve Hypothesis in Vietnam. Energy Policy, 76, 123-131.

Alola, A. A., Bekun, F. V., and Sarkodie, S. A. (2019). Dynamic impact of trade policy, economic growth, fertility rate, renewable and non-renewable energy consumption on ecological footprint in Europe. Science of the Total Environment, 685, 702-709.

Aslam, B., Hu, J., Hafeez, M., Ma, D., AlGarni, T. S., Saeed, M., ... and Hussain, S. (2021). Applying Environmental Kuznets Curve Framework to Assess the Nexus of Industry, Globalization, And CO2 Emission. Environmental Technology & Innovation, 21: 101377.

Awad, A. (2019). Does economic integration damage or benefit the environment? Africa's experience. Energy Policy, 132, 991-999.

Ben Jebli, M., Ben Youssef, S., and Ozturk, I. (2015). The role of renewable energy consumption and trade: Environmental Kuznets curve analysis for sub-Saharan Africa countries. African Development Review, 27(3), 288-300.

Bilgili, F., Koçak, E. and Bulut, Ü., (2016). The Dynamic Impact of Renewable Energy Consumption on CO2 Emissions: A Revisited Environmental Kuznets Curve Approach. Renewable and Sustainable Energy Reviews, 54:838-845.

Bilgili, F. (2003). Dynamic implications of fiscal policy: crowding-out or crowding-in?

Dickey, David. A. and Wayne Fuller. A. (1979). Distribution of The Estimators for Autoregressive Time Series with A Unit Root. Journal of the American Statistical Association, 74(366): 427-431.

Diao, X. D., Zeng, S. X., Tam, C. M., and Tam, V. W. (2009). EKC analysis for studying economic growth and environmental quality: a case study in China. Journal of Cleaner Production, 17(5), 541-548.

Dreher, A. (2006). Does Globalization Affect Growth? Evidence From a New Index of Globalization. Applied Economics, 38(10): 1091–1110.

Dreher, A., Gaston, N., and Martens, P. (2008). Measuring Globalization - Gauging Its Consequences. New York: Springer

Gao, J. and Zhang, L., (2021). Does Biomass Energy Consumption Mitigate CO2 Emissions? The Role of Economic Growth and Urbanization: Evidence from Developing Asia. Journal of the Asia Pacific Economy, 26: 96-115.

Gygli, S., Haelg, F., Potrafke, N., and Sturm, J. E. (2019). The KOF Globalization index–Revisited. The Review of International Organizations, 14(3): 543-574.

Johansen, S. (1988). Statistical Analysis of Cointegration Vectors. Journal of economic dynamics and control, 12(2-3): 231-254.

Kalayci, C. (2019). The Impact of Economic Globalization on CO2 Emissions: The Case of NAFTA Countries. International Journal of Energy Economics and Policy, 9(1): 356.

Katircioğlu, S. T., and Taşpinar, N. (2017) Testing the moderating role of financial development in an environmental Kuznets curve: empirical evidence from Turkey. Renewable and Sustainable Energy Reviews, 68, 572-586.

Khan, M. K., Teng, J. Z., Khan, M. I., and Khan, M. O. (2019) Impact of Globalization, Economic Factors and Energy Consumption on CO2 Emissions in Pakistan. Science of the total environment, 688: 424-436.

Khan, M. W. A., Panigrahi, S. K., Almuniri, K. S. N., Soomro, M. I., Mirjat, N. H., and Alqaydi, E. S. (2019). Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS And DOLS Tests. Processes, 7(8): 496.

Lacheheb, M., Rahim, A. A., and Sirag, A. (2015) Economic Growth and Carbon Dioxide Emissions: Investigating the Environmental Kuznets Curve Hypothesis in Algeria. International Journal of Energy Economics and Policy, 5(4): 1125-1132.

Liu, M., Ren, X., Cheng, C., and Wang, Z. (2020). The Role of Globalization in CO2 Emissions: A Semi-Parametric Panel Data Analysis for G7. Science of the Total Environment, 718: 137379.

Moutinho, V., Varum, C., and Madaleno, M. (2017). How economic growth affects emissions? an investigation of the environmental Kuznets curve (EKC) in Portuguese and Spanish economic activity sectors. Research@ ua, 8, 49-49.

Muhammad, B. (2019). Energy consumption, CO2 emissions and economic growth in developed, emerging and Middle East and North Africa countries. Energy, 179, 232-245.

Nguyen, T., and Le, Q. (2020). Impact of Globalization on CO2 Emissions in Vietnam: An Autoregressive Distributed Lag Approach. Decision Science Letters, 9(2): 257-270.

Nkoro, E., and Uko, A. K. (2016). Autoregressive Distributed Lag (ARDL) Cointegration Technique: Application and Interpretation. Journal of Statistical and Econometric methods, 5(4): 63-91.

Nugraha, A. T., and Osman, N. H. (2019). CO2 emissions, economic growth, energy consumption, and household expenditure for Indonesia: Evidence from cointegration and vector error correction model. International Journal of Energy Economics and Policy, 9(1), 291-298.

Ozturk, I., 2010. A literature survey on energy–growth nexus. Energy policy. 38:340-349.

Pata, U. K. (2021). Renewable and Non-Renewable Energy Consumption, Economic Complexity, CO 2 Emissions, And Ecological Footprint in the USA: Testing the EKC Hypothesis with A Structural Break. Environmental Science and Pollution Research, 28(1): 846-861.

Ray, S. (2012). Globalization and economic growth in India: A Granger causality approach. JL Pol'y & Globalization, 2, 18.

Sarkodie, S. A., Adams, S., and Leirvik, T. (2020). Foreign Direct Investment and Renewable Energy in Climate Change Mitigation: Does Governance Matter? Journal of Cleaner Production, 263: 121262.

Sarkodie, S. A., Adams, S., Owusu, P. A., Leirvik, T., and Ozturk, I. (2020). Mitigating Degradation and Emissions in China: The Role of Environmental Sustainability, Human Capital and Renewable Energy. Science of the Total Environment, 719: 137530.

Shahbaz, M., Balsalobre, D. and Shahzad, S.J.H., (2019). The Influencing Factors of CO 2 Emissions and The Role of Biomass Energy Consumption: Statistical Experience From G-7 Countries. Environmental Modeling & Assessment, 24:143-161.

Sharif, A., Baris-Tuzemen, O., Uzuner, G., Ozturk, I., and Sinha, A. (2020). Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: Evidence from Quantile ARDL approach. Sustainable Cities and Society, 57, 102138.

Shafiei, S., and Salim, R. A. (2014). Non-Renewable and Renewable Energy Consumption and CO2 Emissions in OECD Countries: A Comparative Analysis. Energy Policy, 66: 547-556.

Singh, K., and Vashishtha, S. (2020). Does any relationship between energy consumption and economic growth exist in India? A var model analysis. OPEC Energy Review, 44(3), 334-347.

Sirag, A., Matemilola, B. T., Law, S. H., and Bany-Ariffin, A. N. (2018). Does Environmental Kuznets Curve Hypothesis Exist? Evidence From Dynamic Panel Threshold. Journal of environmental economics and policy, 7(2): 145-165.

Solarin, S. A., and Bello, M. O. (2018). Persistence of Policy Shocks to An Environmental Degradation Index: The Case of Ecological Footprint In 128 Developed and Developing Countries. Ecological indicators, 89” 35-44.

Sulaiman, C., and Abdul-Rahim, A.S., (2020). Can Clean Biomass Energy Use Lower CO 2 Emissions in African Economies? Empirical Evidence from Dynamic Long-Run Panel Framework. Environmental Science and Pollution Research. 27: 37699-37708.

Uddin, G.A., Salahuddin, M., Alam, K. and Gow, J., (2017). Ecological Footprint and Real Income: Panel Data Evidence from the 27 Highest Emitting Countries. Ecological Indicators. 77: 166-175.

Ulucak, R., and Ozcan, B. (2020). Relationship Between Energy Consumption and Environmental Sustainability in OECD Countries: The Role of Natural Resources Rents. Resources Policy, 69: 101803.

Umar, M., Ji, X., Kirikkaleli, D. and Alola, A.A., (2021). The Imperativeness of Environmental Quality in The United States Transportation Sector Amidst Biomass-Fossil Energy Consumption and Growth. Journal of Cleaner Production, 285:124863.

Van, D. T. B., and Bao, H. H. G. (2018). The Role of Globalization on CO2 Emission in Vietnam Incorporating Industrialization, Urbanization, GDP Per Capita And Energy Use. International Journal of Energy Economics and Policy, 8(6): 275.

Wang, Z., (2019). Does Biomass Energy Consumption Help to Control Environmental Pollution? Evidence From BRICS Countries. Science of the total environment. 670:1075-1083.

You, W., and Lv, Z. (2018). Spillover Effects of Economic Globalization on CO2 Emissions: A Spatial Panel Approach. Energy Economics, 73: 248-257.

Yurtkuran, S. (2021). The Effect of Agriculture, Renewable Energy Production, And Globalization on CO2 Emissions in Turkey: A Bootstrap ARDL Approach. Renewable Energy, 171: 1236-1245.

Zafar, M.W., Sinha, A., Ahmed, Z., Qin, Q. and Zaidi, S.A.H., (2021). Effects of Biomass Energy Consumption on Environmental Quality: The Role of Education and Technology in Asia-Pacific Economic Cooperation Countries. Renewable and Sustainable Energy Reviews, 142:110868.

Zaidi, S. A. H., Zafar, M. W., Shahbaz, M., and Hou, F. (2019). Dynamic Linkages Between Globalization, Financial Development and Carbon Emissions: Evidence from Asia Pacific Economic Cooperation Countries. Journal of Cleaner Production, 228: 533-543.