Türkiye’de Doğrudan Yabancı Yatırımlar ile Yenilenebilir Enerji Tüketimi Arasında Eşbütünleşme Var Mıdır?

Yenilenebilir enerjinin belirleyicileri ve çeşitli makroekonomik değişkenlerle ilişkisi konusunda son dönemlerde yapılan çalışmaların sayısında artış görülmektedir. Bu makroekonomik değişkenlerden biri de gelişmekte olan ülkeler için önemli bir dış finansman kaynağı durumunda olan doğrudan yabancı yatırımlardır. Bu çalışmada, Türkiye’de 1990-2019 dönemi için yenilenebilir enerji tüketimi ve doğrudan yabancı yatırımlar ilişkisi ampirik olarak incelenmiştir. Bu bağlamda, iki değişken arasındaki ilişkiyi teorik olarak açıklayan Kirlilik Hale Hipotezi ve Kirlilik Sığınağı Hipotezinin de Türkiye için geçerliliği test edilmiştir. RALS-EG ve RALS-EG2 eşbütünleşme testleriyle yapılan analizler sonucunda, yenilenebilir enerji kullanımı ve doğrudan yabancı yatırımlar arasında eşbütünleşme ilişkisi tespit edilmemiştir. Dolayısıyla, adı geçen hipotezlerin Türkiye için uzun dönemde geçerli olmadığı sonucuna ulaşılmıştır.

Anahtar Kelimeler:

Doğrudan Yabancı Yatırımlar, Yenilenebilir Enerji, Türkiye, RALS-EG Eşbütünleşme Testi

IS THERE A COINTEGRATION BETWEEN FOREIGN DIRECT INVESTMENTS AND RENEWABLE ENERGY CONSUMPTION IN TURKIYE

There has been an increase in the number of recent studies on the determinants of renewable energy and its relationship with various macroeconomic variables. One of these macroeconomic variables is foreign direct investment, which is an important source of foreign financing for developing countries. In this study, the relationship between renewable energy use and foreign direct investments in Turkiye for the period 1990-2019 is empirically examined. In this context, the validity for Turkiye of the Pollution Halo Hypothesis and the Pollution Havens Hypothesis, which theoretically explain the relationship between the two variables, is also tested. As a result of the analyzes made with RALS-EG and RALS-EG2 cointegration tests, no cointegration relationship is found between renewable energy use and foreign direct investments. Therefore, it is concluded that the mentioned hypotheses are not valid for Turkiye in the long run.

PDF

___

Abid, M. ve Naif Alotaibi, M. (2020). Crude Oil Price and Private Sector of Saudi Arabia: Do Globalization and Financial Development Matter? New Evidence from Combined Cointegration Test, Resource Policy, 69, 101774.
Acharyya, J. (2009). FDI, Growth and the Environment: Evidence from India on CO2 Emission During the Last Two Decades. Journal of Economic Development, Chung-Ang University, Department of Economics, 34(1), 43-58.
Adom, P. K., Opoku, E. E. O. ve Yan, I. K. M. (2019). Energy Demand-FDI Nexus in Africa: Do FDIs Induce Dichotomous Paths? Energy Economics, 81, 928-941.
Al-Mulali, U., Solarin, S.A., Sheau-Ting, L. ve Ozturk, I. (2016). Does Moving towards Renewable Energy Cause Water and Land Inefficiency? An Empirical Investigation, Energy Policy, 93, 303-314.
Al-Mulali, U. ve Tang, C.F. (2013). Investigating the Validity of Pollution Haven Hypothesis in the Gulf Cooperation Council (GCC) Countries. Energy Policy, 60, 813-819
Aliyu, Mohammed A. (2005), Foreign Direct Investment and the Environment: Pollution Haven Hypothesis Revisited. Eight Annual Conference on Global Economic Analysis, Lübeck, Germany.
Amri, F. (2016). The Relationship Amongst Energy Consumption, Foreign Direct Investment and Output in Developed and Developing Countries. Renewable and Sustainable Energy Reviews, 64, 694-702.
Arı, A. (2021). Yenilenebilir Enerji ve Doğrudan Yabancı Yatırımlar: Türkiye Örneği. Karamanoğlu Mehmetbey Üniversitesi Sosyal ve Ekonomik Araştırmalar Dergisi, 23(40), 122-131.
Bhattacharya, M., Paramati, S. R., Ozturk, I. ve Bhattacharya, S. (2016). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries, Applied Energy, 162, 733-741.
Baek, (2016). A New Look at the FDI-Income, Energy-Environment Nexus: Dynamic Panel Data Analysis of ASEAN, Energy Policy, 91, 22- 27.
Bakhsh, K., Rose, S., Ali, M. F., Ahmad, N. ve Shahbaz, M. (2017). Economic Growth, CO2 Emissions, Renewable Waste and FDI Relation in Pakistan: New Evidences from 3SLS. Journal of Environmental Management, 196, 627–632.
Benzerrouk, Z., Abid, M. ve Sekrafi, H. (2021). Pollution Haven or Halo Effect? A Comparative Analysis of Developing and Developed Countries. Energy Reports, 7, 4862-4871.
Birdsall, N. (1992). Another Look at Population and Global Warming. Policy Research Working Paper Series, WPS 1020, The World Bank.
BP (2022), Statistical Review of World Energy, 71st Edition, London.
Caineng Z., Qun Z., Guosheng, Z. ve Bo, X. (2016). Energy Revolution: From a Fossil Energy Era to a New Energy Era. Natural Gas Industry B, 3(1), 1-11.
Cole, M. A. (2004). Trade, The Pollution Haven Hypothesis and the Environmental Kuznets Curve: Examining the Linkages. Ecological Economics, 48(1), 71-81.
Cole, M. A. ve Fredriksson, P.G. (2009). Institutionalized Pollution Havens. Ecological Economics, 68(4), 1239–1256.
Copeland, B. R. ve Scott, M. T. (2004). Trade, Growth, and the Environment. Journal of Economic Literature, 42(1), 7-71.
Doytch, N. ve Narayan, S. (2016). Does FDI Influence Renewable Energy Consumption? An Analysis of Sectoral FDI Impact on Renewable and Nonrenewable Industrial Energy Consumption. Energy Economics, 54, 291–301.
Ediger, V. S. ve Kentel, E. (1999). Renewable Energy Potential as an Alternative to Fossil Fuels in Turkey, Energy Conversion & Management, 40, 743–55.
Ediger, V. S. (2008). Türkiye’nin Sürdürülebilir Enerji Gelişimi, TÜBA Günce, 39, 15–22.
Enerji ve Tabii Kaynaklar Bakanlığı (2016), 2017 Yılı Bütçe Sunumu, ETKB Yayını.
Er, B., Güneysu, Y. ve Ünal, H. (2018). Financing Renewable Energy Projects: An Empirical Analysis for Turkey. International Journal of Energy Economics and Policy, 8(6), 180-185.
Ergun, S. J., Owusu, P. A. ve Rivas, M. F. (2019). Determinants of Renewable Energy Consumption in Africa. Environmental Science and Pollution Research, 26(15), 15390-15405.
Elum, Z.A. ve Momodu, A.S. (2017). Climate Change Mitigation and Renewable Energy for Sustainable Development in Nigeria: A Discourse Approach, Renewable and Sustainable Energy Reviews, 76, 72-80.
Euronews (2022). Elektrik Üretiminde Yenilenebilir Enerjinin Oranı: Türkiye, AB Ortalamasının Üstünde. Erişim Adresi https://tr.euronews.com.
Fan, W. ve Hao, Y. (2020). An Empirical Research on the Relationship amongst Renewable Energy Consumption, Economic Growth and Foreign Direct Investment in China. Renewable Energy, 146, 598-609.
Ghazouani, T. (2018). Re-examining the Foreign Direct Investment, Renewable Energy Consumption and Economic Growth Nexus: Evidence from a New Bootstrap ARDL Test for Cointegration. MPRA Paper, No. 89975.
Grossman, G. M. ve Krueger, A. B. (1991). Environmental Impacts of A North American Free Trade Agreement, NBER Working Paper Series, No. 3914.
Hanif, I., Raza, S.M.F., Gago-de Santos, P. ve Abbas, Q. (2019). Fossils Fuels, Foreign Direct İnvestment, and Economic Growth have Triggered CO2 Emissions in Emerging Asian Economies: Some Empirical Evidence. Energy, 171, 493-501.
Hansen, L. P. (1982). Large Sample Properties of Generalized Method of Moments Estimators, Econometrica, 50(4), 1029–1053.
Im, K. S. ve Schmidt, P. (2008). More Efficient Estimation under Non-Normality When Higher Moments do not Depend on the Regressors, Using Residual-Augmented Least Squares. Journal of Econometrics, 144(1), 219–233.
IASS/İPM (2021). Türkiye’de Yenilenebilir Enerji ile Enerji Arzının Güvence Altına Alınması ve Cari Açığın Dengelenmesi. Cobenefits Raporu, Postdam/İstanbul. Erişim Adresi https://ipc.sabanciuniv.edu/Content/Images/CKeditorImages/20210623-19064168.pdf.
Kavcıoğlu, Ş. (2019). Yenilenebilir Enerji ve Türkiye. Finansal Araştırmalar ve Çalışmalar Dergisi, 11(21), 209-227.
Kayişoğlu, B. ve Diken, B. (2019). Türkiye'de Yenilenebilir Enerji Kullanımının Mevcut Durumu ve Sorunları. Tarım Makinaları Bilimi Dergisi, 15(2), 61-65.
Khandker, L. L., Amin, S. B. ve Khan, F. (2018). Renewable Energy Consumption and Foreign Direct Investment: Reports from Bangladesh. Journal of Accounting, Finance and Economics, 8(3), 72-87.
Kılıçarslan, Z. (2019). The Relationship between Foreign Direct Investment and Renewable Energy Production: Evidence from Brazil, Russia, India, China, South Africa and Turkey. International Journal of Energy Economics and Policy, 9(4), 291-297.
Kutan, A. M., Paramati, S. R., Ummalla, M. ve Zakari, A. (2017). Financing Renewable Energy Projects in Major Emerging Market Economies: Evidence in the Perspective of Sustainable Economic Development. Emerging Markets Finance and Trade, 54(8), 1-35.
Lau, L. S., Yii, K. J., Lee, C. Y., Chong, Y. L., ve Lee, E. H. (2018). Investigating the Determinants of Renewable Energy Consumption in Malaysia: An ARDL Approach. International Journal of Business and Society, 19(3), 886-903.
Lee, C. G. (2009). Foreign Direct Investment, Pollution and Economic Growth: Evidence from Malaysia. Applied Economics, 41(13), 1709-1716.
Lee, H., Lee, J. ve Kim, H. H. (2011). Foreign Direct Investment, Technology Diffusion and Host Country Productivity Growth. ADB Economics Working Paper Series, No. 272
Lee, H. ve Lee, J. (2014). More Powerful Engle-Granger Cointegration Tests. Journal of Statistical Computation and Simulation, 85(15), 3154-3171.
Lee, H., Lee, J. ve Im, K. (2015). More Powerful Cointegration Tests with Non-Normal Errors. Studies in Nonlinear Dynamics & Econometrics, 19(4), 397-413.
Lin, B., Omoju, O. E. ve Okonkwo, J. U. (2016). Factors Influencing Renewable Electricity Consumption in China. Renewable and Sustainable Energy Reviews, 55, 687-696.
Mabey, N. ve McNally, R. (1999). Foreign Direct Investment and the Environment: From Pollution Havens to Sustainable Development. WWF-UK Report, 2003-07.
Mehmood, U. (2022). Renewable Energy and Foreign Direct Investment: Does the Governance Matter for CO2 emissions? Application of CS-ARDL. Environmental Science and Pollution Research, 29(13), 19816-19822.
Nejati, M. ve Taleghani, F. (2022). Pollution Halo or Pollution Haven? A CGE Appraisal for Iran. Journal of Cleaner Production, 344, 131092.
Öcal, O. ve Aslan, A. (2013). Renewable Energy Consumption–Economic Growth Nexus in Turkey. Renewable and Sustainable Energy Reviews, 28, 494-499.
Pao, H. T. ve Tsai, C. M. (2011), Multivariate Granger Causality between CO2 Emissions, Energy Consumption, FDI (Foreign Direct Investment) and GDP (Gross Domestic Product): Evidence from a Panel of BRIC (Brazil, Russian Federation, India, and China) Countries, Energy, 36, 685-693
Paramati, S. R., Ummalla, M. ve Apergis, N. (2016). The Effect of Foreign Direct Investment and Stock Market Growth on Clean Energy Use across a Panel of Emerging Market Economies. Energy Economics, 56, 29-41.
Polat, M. A. (2015). Türkiye’de Yabancı Sermaye Yatırımları ile CO2 Emisyonu arasındaki İlişkinin Yapısal Kırılmalı Testler ile Analizi. Journal of International Social Research, 8(41), 1127-1135.
Salim, R., Yao, Y., Chen, G. ve Zhang, L. (2017). Can Foreign Direct Investment Harness Energy Consumption in China? A Time Series Investigation. Energy Economics, 66, 43-53.
Sbia, R., Shahbaz, M. ve Hamdi, H. (2014). A Contribution of Foreign Direct Investment, Clean Energy, Trade Openness, Carbon Emissions and Economic Growth to Energy Demand in UAE. Economic Modelling, 36, 191-197.
SETA (2017). Dünyada ve Türkiye’de Yenilenebilir Enerji, Sayı 197, İstanbul.
Shahbaz, M., Nasreen, S. ve Afza, T. (2011). Environmental Consequences of Economic Growth and Foreign Direct Investment: Evidence from Panel Data Analysis, MPRA Paper, No. 32547.
Shahbaz, M., Raghutla, C., Chittedi, K. R., Jiao, Z., ve Vo, X. V. (2020). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from the Renewable Energy Country Attractive Index, Energy, 207, 118162.
TEİAŞ (2022a), Türkiye Elektrik Üretim-İletim İstatistikleri. Erişim Adresi https://www.teias.gov. tr/turkiye-elektrik-uretim-iletim-istatistikleri.
TEİAŞ (2022b), Ağustos 2022 Kurulu Güç Raporu, Erişim Adresi https://www.teias.gov.tr/kurulu-guc-raporlari.
Waqih, M.A.U, Bhutto, N.A., Ghumro, N.H., Kumar, S. ve Salam, M.A. Rising Environmental Degradation and Impact of Foreign Direct Investment: An Empirical Evidence from SAARC Region. Journal of Environmental Management, 243, 472-480
Worldbank (2022). World Development Indicators. Erişim Adresi https://databank.worldbank.org/source/world-development-indicators.
Yılancı, V. ve Aydın, M. (2018). Türkiye’de Kadın Okullaşmasının Ekonomik Büyüme Üzerindeki Etkisi: RALS-EG Eşbütünleşme Testi Yaklaşımı. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 2018 (Prof. Dr. Harun Terzi Özel Sayısı), 101-112.
Yıldırım, M., Destek, M. A. ve Özsoy, F. N. (2017). Doğrudan Yabancı Yatırımlar ve Kirlilik Sığınağı Hipotezi. C.Ü. İktisadi ve İdari Bilimler Dergisi, 18 (2), 99-111.
Yılmaz, M. (2012). Türkiye’nin Enerji Potansiyeli ve Yenilenebilir Enerji Kaynaklarının Elektrik Enerjisi Üretimi Açısından Önemi. Ankara Üniversitesi Çevrebilimleri Dergisi, 4(2), 33-54.
Zafar, M. W., Zaidi, S. A. H., Khan, N. R., Mirza, F. M., Hou, F. ve Kirmani, S. A. A. (2019). The Impact of Natural Resources, Human Capital, and Foreign Direct Investment on the Ecological Footprint: The Case of the United States. Resource Policy, 63, 101428.
Zhu, H., Duan, L., Guo, Y. ve Yu, K. (2016). The Effects of FDI, Economic Growth and Energy Consumption on Carbon Emissions in ASEAN-5: Evidence from Panel Quantile Regression. Economic Modelling, 58, 237-248.