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  • Küçük Resim Yok
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    Does the level of financial development affect renewable energy? Evidence from developed countries with system generalized method of moments (System-GMM) and cross-sectionally augmented autoregressive distributed lag (CS-ARDL)
    (Wiley, 2022) Saygin, Oguz; Iskenderoglu, Omer
    The relationship between financial development and energy consumption is the most frequently research subject in economy and finance. The main objective of conducting this paper is to answer does financial development have an impact on renewable energy in developed countries? Many papers performed in energy literature, the findings were pointing to the existence of this kind of relationship. In order to examine the relationship between financial development and renewable energy consumption, a total of 23 developed countries, benefited from annual frequency data between 1990 and 2015. In addition to the widely used system generalized method of moments estimation method, models are also estimated with modern estimators using the cross-sectionally augmented autoregressive distributed lag. As a result of the analysis performed indicates that there is a strong relationship between financial development and renewable energy consumption in developed countries when financial development is measured using banking variables. Otherwise, the estimated coefficients on stock market variables are negative and none of them found statistically significant in all models. These findings are consistent for both estimators.
  • Küçük Resim Yok
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    The nexus between financial development and renewable energy consumption: a review for emerging countries
    (Springer Heidelberg, 2022) Saygin, Oguz; Iskenderoglu, Omer
    The relationship between financial development and energy consumption is the most frequently research field in finance and economy. The main objective of performing this study is to answer that is there a relationship between financial development and renewable energy consumption in emerging countries? In many studies carried out in literature, the empirical findings were pointing to the existence of thiss relationship. To examine the relationship between financial development and renewable energy consumption, a total of 20 emerging countries were obtained from annual frequency data between 1990 and 2015. The system GMM estimation was used as the method of study. As a result of the analysis performed, it indicates that financial development does not impact renewable energy consumption in emerging countries when financial development is measured using both banking and stock market variables. Additionally, it can be said that the financial development increases renewable energy consumption if it is measured by only stock market capitalization.