Military expenditure, financial development and environmental degradation in Turkey: A comparison of CO2 emissions and ecological footprint
Article
Article Title | Military expenditure, financial development and environmental degradation in Turkey: A comparison of CO2 emissions and ecological footprint |
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ERA Journal ID | 18389 |
Article Category | Article |
Authors | Gokmenoglu, Korhan K. (Author), Taspinar, Nigar (Author) and Rahman, Mohammad Mafizur (Author) |
Journal Title | International Journal of Finance and Economics |
Journal Citation | 26 (1), pp. 986-997 |
Number of Pages | 12 |
Year | 2021 |
Place of Publication | United States |
ISSN | 1076-9307 |
1099-1158 | |
Digital Object Identifier (DOI) | https://doi.org/10.1002/ijfe.1831 |
Web Address (URL) | https://onlinelibrary.wiley.com/doi/10.1002/ijfe.1831 |
Abstract | This study investigates the long run equilibrium relationship among military expenditure, financial development, energy use, economic growth and environmental degradation in Turkey for the period of 1960–2014. Ecological footprint and carbon dioxide emissions are used as separate proxies for environmental degradation. Fully modified ordinary least squares (FMOLS) estimator results suggest that military expenditure, energy use and economic growth increase the environmental degradation while financial development improves the environmental quality in Turkey. Toda Yamamoto (1995) causality test results reveal that there is a unidirectional causality running from military expenditure to CO2 emissions and ecological footprint; and a bidirectional causality between military expenditure and economic growth. The findings of the study confirm the existence of destruction theory for the case of Turkey. |
Keywords | causality test; economic growth; energy use; environmental degradation; financial development; FMOLS; military expenditure; Turkey |
ANZSRC Field of Research 2020 | 380105. Environment and resource economics |
380112. Macroeconomics (incl. monetary and fiscal theory) | |
380107. Financial economics | |
380205. Time-series analysis | |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | Eastern Mediterranean University, Turkiye |
School of Commerce | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q5w98/military-expenditure-financial-development-and-environmental-degradation-in-turkey-a-comparison-of-co2-emissions-and-ecological-footprint
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