Browsing by Author "Inal, Veysel"

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Building a Sustainable Environment in Eu Countries: the Critical Role of Infrastructure Investments and Institutional Quality
(Taylor & Francis inc, 2025) Sogut, Yasin; Demirtas, Nazli; Teksan, Enes; Torusdag, Mustafa; Inal, Veysel; Aydin, Mucahit
The literature on the intersection of environment and economic growth is extensive, and emerging research emphasizes additional variables that affect both domains. It is well known that institutional quality enhances environmental quality because institutions affect environmental quality and economic growth through regulatory policies. Moreover, infrastructure investment is a critical driver of growth and environmental improvement, providing the necessary foundation for change. This research contributes to the literature by examining the dynamic interaction between ecological footprint, infrastructure investment, institutional quality, and economic growth using the Environmental Kuznets Curve hypothesis for the 10 European Union countries with the highest levels of infrastructure investment from 1996 to 2020 to highlight how infrastructure and institutional quality affect environmental outcomes differently across countries. It finds long-run relationships among the variables in the Czech Republic, Finland, France, Germany, Hungary, Italy, Norway, Slovakia, Sweden, and Switzerland. The findings confirm the cointegration by confirming the EKC hypothesis for the panel and particularly for Finland, France, Norway, Slovakia, and Sweden. The study observes that increased infrastructure investments reduce the ecological footprint in Germany and Sweden but increase the ecological footprint in the Czech Republic and France. In Sweden, higher institutional quality significantly reduces the ecological footprint, suggesting that improvements in institutional quality are associated with a lower ecological footprint. These results provide a new perspective on the policy revisions required to achieve net zero emissions under the Paris Climate Agreement, emphasizing the need to integrate green finance into privately financed infrastructure projects.
The Nexus Between Renewable Energy, Co2 Emissions, and Economic Growth: Empirical Evidence From African Oil-Producing Countries
(Elsevier, 2022) Inal, Veysel; Addi, Haman Mahamat; Cakmak, Eyup Ensar; Torusdag, Mustafa; Caliskan, Mustafa
Despite Africa's reserves of renewable energy, policymakers rely on traditional energy sources to improve macroeconomic outcomes, thus contributing to global warming. We investigated the relationship between renewable energy, CO2 emissions, and growth in oil-producing Angola, Algeria, Equatorial Guinea, Egypt, Gabon, Congo Republic, Libya, Nigeria, and Sudan from 1990-2014 using a second-generation panel data analysis. Our motivation was to demonstrate Africa's growing CO2 emissions (doubled in 20 years) and influence on global warming and also influence on African oil-producing countries' growth performance. Our objective was to analyze how renewable energy and CO2 emissions contribute to economic growth. We employed a bootstrap panel LM cointegration-accounting for the horizontal cross-sectional dependency-the AMG estimator to analyze cointegration coefficients, and the country-based Konya panel causality test. Our findings showed no significant effect of renewable energy on economic growth, confirming the neutrality hypothesis. One reason may relate to the under-utilization of their renewable energy potential by these countries. The results reveal a significantly positive effect of CO2 emissions on growth for Algeria, Equatorial Guinea, and Egypt. Hence, we recommend that policymakers pay more attention to renewable energy. An extension of our research could determine the optimum mixture of renewable and traditional energy production that would guarantee economic growth while reducing global warming. (c) 2021 Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
A Step Towards Sustainable Environment in Oecd Countries: Do Natural Resource Depletion, Resource Tax, Institutional Quality, and Green Innovation Matter
(Wiley, 2024) Kilicaslan, Harun; Aydin, Mucahit; Inal, Veysel; Teksan, Enes; Torusdag, Mustafa
Protecting and improving environmental quality is essential for sustainable development. This study considers natural resource depletion, resource tax, institutional quality, and green innovation, which are likely to impact environmental quality. These issues are addressed by Sustainable Development Goals (SDGs) 7, 12, and 18. The study aims to uncover the influence of the variables we have considered on environmental quality in a sample of 18 Organisation for Economic Co-operation and Development (OECD) countries from 1994 to 2020. Before panel data analysis, we conducted preliminary tests to determine the most suitable techniques. The econometric procedure comprises four stages: unit root analysis, cointegration analysis, estimation of long-run coefficients using two different methods, and panel causality analysis. The empirical findings suggest that resource tax and green energy innovation positively impact environmental quality for the panel in the long run. Results based on the country show that institutional quality has a negative impact on environmental quality in Portugal but a positive impact in Luxembourg. Although resource taxes positively impact environmental quality in Portugal, they harm Luxembourg. Lastly, natural resource depletion negatively impacts environmental quality in Luxembourg. There are no statistically significant results for other countries. The study concludes with policy recommendations.