Unlocking time-quantile impact of energy vulnerability, financial development, and political globalization on environmental sustainability in Turkey: Evidence from different pollution indicators

ÖZKAN O., Degirmenci T., DESTEK M. A., Aydin M.

JOURNAL OF ENVIRONMENTAL MANAGEMENT, vol.365, 2024 (SCI-Expanded) identifier identifier identifier

  • Publication Type: Article / Article
  • Volume: 365
  • Publication Date: 2024
  • Doi Number: 10.1016/j.jenvman.2024.121499
  • Journal Name: JOURNAL OF ENVIRONMENTAL MANAGEMENT
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, International Bibliography of Social Sciences, PASCAL, Aerospace Database, Agricultural & Environmental Science Database, Aqualine, Aquatic Science & Fisheries Abstracts (ASFA), BIOSIS, CAB Abstracts, Communication Abstracts, Environment Index, Geobase, Greenfile, Index Islamicus, Metadex, Pollution Abstracts, Public Affairs Index, Veterinary Science Database, Civil Engineering Abstracts
  • Azerbaijan State University of Economics (UNEC) Affiliated: Yes

Abstract

Increasing energy vulnerability can cause environmental pollution by increasing fossil fuel consumption. If it leads to cost-cutting-oriented industry growth, financial development can lead to environmental regulations being ignored, compromising environmental quality. Political globalization and economic growth can increase short-term environmental pressures, straining long-term ecological balance and causing habitat loss and pollution. This study investigates the impact of energy vulnerability, financial development, and political globalization on environmental sustainability in Turkey for the 2000-2019 period using with wavelet quantile-based techniques. According to results, while the negative effect of energy vulnerability on environmental quality is lower in the short term, the size of the effect increases in the medium and long term. In addition, at low quantiles of environmental quality, the negative effect of financial development is low in the short and long term, while the effect becomes evident in the long term. Moreover, the effects of political globalization on environmental quality are positive in all quantiles. Additionally, the harmful effects of economic growth are more evident at lower quantiles of environmental quality. Turkey should increase its clean energy investments by using its geographically advantageous location. Policymakers should also prioritize environmental regulations and promote sustainable practices in industries. Incentives for cleaner production technologies and environmentally friendly initiatives can help steer the financial sector towards more responsible and environmentally friendly practices. Additionally, the study suggests that increasing institutional capacity and aligning national policies with international agreements can accelerate the positive effects of political globalization.