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    Financial development and energy consumption in Turkey: Empirical evidence from cointegration and causality tests
    (IGI Global, 2015) Çetin, Murat; Ecevit, Eyyup; Seker, F.; Günaydın, Davuthan
    This chapter investigates the cointegration and causal relationship between financial development and energy consumption in the case of Turkey over the period 1960-2011. In doing so, the ARDL bounds testing and Johansen-Juselius approaches to cointegration and Granger causality test based on vectorerror correction model are employed. The empirical results show that the series are cointegrated. The empirical results also show a positive and statistically significant relationship between financial development and energy consumption in the long run. In addition, a unidirectional causality running from financial development to energy consumption is found in the short and long run. Thus, this chapter provides an empirical evidence that financial development is a determinant of energy consumption in Turkey. This chapter also presents some implications for Turkey's energy policy. © 2015, IGI Global. All rights reserved.
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    The impact of trade openness on environmental pollution: A panel cointegration and causality analysis
    (IGI Global, 2014) Çetin, Murat; Seker, F.; Cavlak, Hakan
    This chapter analyzes the impact of trade openness on environmental pollution in the newly industrialized countries that have focused on trade over the period 1971-2010 by using recently developed panel unit root, cointegration, and causality tests. The results indicate a cointegration relationship between the variables. The results also show that trade openness increases carbon dioxide emissions with the elasticity of 0.53 and there is a Granger causality running from trade openness to carbon dioxide emissions in the long run. These findings may provide some policy implications. Without taking into account impact of trade on pollutions, optimistic environmental Kuznets curve hypothesis would be invalid. Therefore, policymakers who decide on environment policies should pay attention to not only growth effects but also trade effects on pollutions. Future empirical analysis would expose the new evidences for governmental policies and environmental regulations to change these effects positively. © 2015, IGI Global. All rights reserved.