International Congress on Eurasian Economies
26-28 June 2024 – Bishkek, KYRGYZSTAN
Paper properties
Paper ID : 2531
Status : Paper published
Language : Turkish
Topic : Natural Resources and Environment
Presenter: Dr. Duygu Serin Oktay
Session : 1C Çevre Ekonomisi
Asymmetric Effect of Economic Growth and Oil Price on Carbon Emission in Turkey
Türkiye'de Ekonomik Büyüme ve Petrol Fiyatının Karbon Emisyonu Üzerine Asimetrik Etkisi
- Dr. Duygu Serin Oktay (Çukurova University, Türkiye)
Abstract
Today, one of the most important global problems is the phenomenon of climate change. The main reason for this phenomenon is that all the energy required for production and consumption is provided from fossil fuels instead of renewable energy sources. The widespread use of fossil fuels increases carbon emissions intensity. Due to the importance of carbon emissions, it is aimed to determine the asymmetric effect of economic growth and oil price on carbon emissions in Turkey. For this purpose, the long and short-term effects of per capita income and oil price on carbon emissions are analyzed using the nonlinear ARDL cointegration method between 1987-2019. The findings support the Environmental Kuznets Curve hypothesis for the relationship between carbon emissions and per capita income for Turkey. In addition, it has been determined that there is a significant and asymmetrical effect between oil prices and carbon emissions in the long run. While the increase in the oil price tends to decrease carbon emission, the decrease in the oil price leads to increase in carbon emission in the long term. In line with these results, economic growth and energy policies are critical in reducing environmental problems caused by carbon emissions in Turkey. Namely, it is necessary to implement environmental policies that support economic growth to reduce the impact of environmental degradation in Turkey. Especially renewable energy consumption should be increased for sustainable growth. Therefore, research on renewable energy should be encouraged and it is important to implement training activities required for technology production.
JEL codes: Q43, Q56, C15
Serin Oktay, Duygu (2021). "Asymmetric Effect of Economic Growth and Oil Price on Carbon Emission in Turkey" in Proceedings of International Conference of Eurasian Economies 2021, pp.316-323, Istanbul, TURKEY and ONLINE.
DOI: https://doi.org/10.36880/C13.02531
