Browsing by Author "Torusdag, Mustafa"

Now showing 1 - 8 of 8

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.
Defense Expenditures and Inflation Relationship: 1990-2018 Nato Countries Case
(int Journal Contemporary Economics & Administrative Sciences, 2020) Gul, Ekrem; Torusdag, Mustafa
Although it is seen in the literature that defense expenditures are associated with various macroeconomic variables, it can be foreseen that there is no consensus on the relationship between defense expenditures and inflation. The aim of this study is to investigate the relationship between defense spending and inflation in NATO countries for the period 1990-2018 examined with, bootstrap panel causality analysis developed by Konya (2006). The analysis results indicate that there is a one-way causality relationship from inflation to defense spending in the United States, Czech Republic, Estonia, Croatia, England and Latvia.
Empowering Energy Access: Exploring Financial Inclusion's Impact on Energy Poverty in the Fragile Five Economies
(Pergamon-elsevier Science Ltd, 2024) Xie, Xin; Barut, Abdulkadir; Mohammed, Kamel Si; Torusdag, Mustafa
Energy poverty is a major issue that deepens economic challenges, especially in the five fragile states of Turkey, Brazil, South Africa, India, and Indonesia. The objective of this study is to examine the impact of financial inclusion on energy poverty, as removing financial barriers to energy access and utilisation is critical for sustainable development. The study hypothesizes that financial inclusion plays a decisive role in alleviating energy poverty. The study analyses the second generation panel methods such as AMG, Driscool-Kraay, and FMOLS using annual data from 2000 to 2021 and examines the causal relationships between variables using DumitrescuHurlin panel causality test. The findings reveal that financial inclusion, low carbon technology trade, energy efficiency, economic growth, and human capital play a central role in alleviating energy poverty in these economies. On the other hand, a unidirectional causal relationship was found between financial inclusion and low carbon technology trade, human capital, energy efficiency, and energy poverty. In contrast, a bidirectional causal relationship was observed between economic growth and energy poverty. These findings provide important insights for policymakers and stakeholders; understanding the complex dynamics between financial inclusion and energy poverty can help design targeted strategies to increase energy access and promote inclusive economic development in fragile economies.
Foreign Direct Investments, Trade Openness and Co2 Emissions Relationship: the Case of 1995-2019 Eu Countries
(Univ Quindio, 2021) Kamaci, Ahmet; Gul, Ekrem; Torusdag, Mustafa
Foreign Direct Investments (FDI), which are very important in the economic development of countries, prefer regions with free trade. Since the share of international trade in the world economy is constantly increasing, trade openness and foreign direct investments have become more important for countries. However, the increase in trade and FDI entries can have negative effects on the environment. Although many different variables are included in the literature as determinants of carbon emission, foreign direct investments are mostly taken as an explanatory variable with the effect of the economic globalization process. The aim of this paper is to analyze the relationship between FDI, trade openness and CO2 emission for the 1995-2019 period in 24 EU countries. The relationship between variables was estimated by applying panel AMG estimator and Emirmahmutoglu and Kose causality tests to series with cross-sectional dependency. Empirical results for the overall panel show that there is unidirectional causality from carbon emission to trade openness and FDI. There is a directional causality from FDI to trade openness for the general panel has been determined. When analyzed on a country basis, there is unidirectional causality from carbon emission to trade openness for Bulgaria, Italy, Latvia, Poland, Portugal and Slovenia. Likewise, for Austria, Denmark, Estonia, Finland, France, Germany, Poland, Portugal, Spain and Switzerland, there is unidirectional causality from carbon emission to FDI. In addition, when analyzed on a country basis, there is a one-way causality relationship from foreign direct investments to trade openness for Bulgaria, Italia, Latvia, Poland, Portugal and Slovenia. For Bulgaria, Finland and Germany, there is a one-way causality from trade openness to foreign direct investment. The importance of this study derives from the emphasis on the need for environmentally protective FDIs to reduce carbon emissions.
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/).
Should We Mind the Gap? Gender Differentials in Labor Force Participation in the World
(Routledge, 2019) Arvas, Mehmet Akif; Torusdag, Mustafa
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.
Validity of Twin Deficit and Triplet Deficit Hypothesis in the Relation of Current Account Deficit - Budget Deficit and Interest Rate: 1990-2019 Case of Turkey
(Sosyoekonomi Soc, 2021) Inancli, Selim; Torusdag, Mustafa
In this study, 1990-2019 period for Turkey, 'twin deficits' and 'triplet deficit' validity was analysed with Bayer-Hanck (2012) cointegration test and Hacker-Hatemi-J causality test. According to the findings of the causality analysis of Hacker and Hatemi-J (2006), it is concluded that there is a one-way causality relationship from budget deficit to current account deficit, from budget deficit to interest rate, from interest rate to current account deficit, and from interest rate to net savings rate. In the period analysed for Turkey, 'Twin Deficits that the hypothesis is valid but that the triplet deficit hypothesis is not valid.