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    The effects of financial development, trade and energy consumption on environmental degradation: Evidence from APEC countries
    (Taylor & Francis Inc, 2024) Balli, Esra; Catik, Abdurrahman Nazif; Ugur, Mehmet Sedat; Sigeze, Ciler
    This paper investigates the relationship among CO2 emissions, energy consumption, economic growth, financial development, and trade in APEC countries based on quarterly data from 1985:Q4 to 2020:Q4 utilizing the Method of Moments Quantile Regression (MMQR). The results demonstrate that both GDP and energy consumption have a positive and statistically significant effect on CO2 emissions. However, this effect diminishes as the conditional quantile of CO2 increases. Additionally, the study reveals that financial development has a positive and significant impact on CO2 emissions, with its influence increasing at higher quantiles. The MMQR estimates suggest that increasing trade openness has led to improvements in environmental quality. Based on these findings, it is recommended that APEC countries implement environmentally friendly policies to achieve sustainable economic development in the region. Hence, it is essential for financial development, energy consumption, and trade openness policies to align with strategies aimed at reducing environmental degradation.
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    The relationship between FDI, CO2 emissions, and energy consumption in Asia-Pacific economic cooperation countries
    (Springer Heidelberg, 2021) Balli, Esra; Sigeze, Ciler; Ugur, Mehmet Sedat; Catik, Abdurrahman Nazif
    This paper investigates the relationship between CO2 emissions, energy consumption, economic growth, and foreign direct investment for a sample of Asia-Pacific Economic Cooperation Countries (APEC) countries from 1981:Q1 to 2021:Q1 employing panel data methodology. We identify cross-sectional dependence and hence utilize the cross-sectional augmented Dickey-Fuller panel unit root test for appropriate estimation. The cointegration test developed by Westerlund (2008) reveals a long-run equilibrium between CO2 emissions, energy consumption, economic growth, and foreign direct investment. Long-run parameter estimates based on Common Correlated Effect Mean Group indicate that an increase in FDI inflows has a negative impact on air quality, supporting the pollution haven hypothesis. The cointegration test results also show that the impact of Gross Domestic Product (GDP) on CO2 emissions varies by country in the estimation sample. In contrast to the mixed evidence on the effects of other variables, the increase in energy consumption is positively and significantly affecting CO2 emissions in all APEC countries. Emirmahmutoglu and Kose Econ Model 28:870-876, (2011)'s panel causality test results show a bidirectional relationship between FDI and CO2 emissions in Japan. Furthermore, there is a bidirectional causal relationship between GDP and energy consumption in Australia, China, Japan, and Singapore. Overall, empirical evidence suggests that APEC countries should adhere to strict regulations and invest in environmental-friendly clean technologies to attract foreign direct investment.