İklim değişikliği, ticari açıklık ve finansal derinlik endeksi arasındaki etkileşimin analizi

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Thesis Type: Doctorate

Institution Of The Thesis: Dokuz Eylül University, Sosyal Bilimler Enstitüsü, İktisat Ana Bilim Dalı, Turkey

Approval Date: 2024

Thesis Language: Turkish

Student: BURÇİN ÇAKIR GÜNDOĞDU

Supervisor: Hakan Kahyaoğlu

Open Archive Collection: AVESIS Open Access Collection

Abstract:

In recent years, increased precipitation, high temperatures, and frequent natural disasters such as floods have caused many people to lose their lives and habitats to be destroyed. Changing weather events were called climate change and were considered only as an environmental problem. However, many factors that are included in the field of economics and finance, such as changing weather events, decrease in food supply, disruption of the supply chain due to the deterioration of roads and infrastructures, deterioration of income distribution, decrease in economic growth, creating an obstacle to the fight against poverty, change in the financial system, increase in insurance costs, etc. has an impact on the subject. In this context, the study, which aims to explain how climate change interacts with economy and finance, is based on the period 1980-2020 of G-20 countries. Carbon emission release (kt) was used as the dependent variable, and gross national product (dollar) per capita, openness rate and depth index of financial markets were used as independent variables. Variables were obtained using the World Bank and IMF database. In the first stage of econometric analysis, the cross-section dependency of the series was tested with the Breush-Pagan (1980) LM test, Pesaran Ullah and Yamagata (2008) LM adj test and Pesaran (2004) CDlm tests in order to determine the structure of the series. Then, the homogeneous/heterogeneous structure of the slope coefficients for each country was tested with the homogeneity test of Pesaran and Yamagata (2008). For this reason, CADF (Cross-sectionally ADF) and CIPS (Cross-Sectionally Augmented IPS) test statistics, which are the second generation panel unit root tests developed by Pesaran (2006), were applied. The findings showed that the series has a stationary structure. Another step was to apply the cointegration test of Pedroni (1995), Westerlund (2007), Dimitrescu-Hurlin (2012) in order to apply causality analysis in the series. All results obtained confirm that there is a causal relationship between the variables. In this context, in the Panel VAR analysis applied as the last stage, it was concluded that the variables have a high power to explain each other, there is an interaction between the variables, and a shock in carbon emissions has the power to have an impact on other variables. Keywords: Climate Change, Trade Openness, Financial Depth, Economic Growth, Panel Data Analysis