The Relationship Between Trade Openness And Ecological Footprint in Turkey and G7 Countries: A Panel Data Analysis Under Cross-Sectional Dependence
Conference paper > Summary Text · 2022
Authors: Çağla BUCAK, Refik Fatih SAYGILI
EconAnadolu 2022 the Sixth International Conference on Economics, Turkey, Eskişehir, International, Verbal, Summary Text, 2022-2022, pp 42-42
Summary
<p>With the global implementation of policies encouraging liberalization in international trade at the end of the 1970s, significant increases in economic growth and openness have occurred throughout the world. However, environmental degradation was observed in the same period, so the discussions on sustainable development took its place on the agenda.The measurement of indicators of environmental degradation has gained importance in order to understand to what extent sustainability is achieved. As an important indicator of environmental degradation, ecological footprint has come to the fore. In this context, it is important to determine the impact and direction of openness on the ecological footprint. In this study, the relationship between ecological footprint and openness were tested by using panel data analysis, taking into account the cross-sectional dependence for the G7 countries and Turkey for the period 1998-2017. The reason for choosing these countries is that these 8 countries, being among the G20 countries, have more ecological footprints than many countries and produce by consuming excessive energy. While conducting empirical analysis, ecological footprint per capita, growth rate of GDP per capita, openness rate, renewable energy consumption and population density variables were used. Empirical findings reveal that openness and growth increase the ecological footprint, while renewable energy consumption decreases the ecological footprint. Based on these results, policy recommendations for G7 countries and Turkey are discussed. </p>