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HOW MUCH DO FINANCIAL INDICATORS CONTRIBUTE TO RESOURCE CONSUMPTION AND ENVIRONMENTAL SUSTAINABILITY IN CHINA?

Yıl 2025, Cilt: 13 Sayı: 1, 175 - 187, 30.06.2025
https://doi.org/10.52122/nisantasisbd.1622160

Öz

This study examines how financial development, GDP, the Shanghai Composite Index, and crude oil prices affect coal consumption and CO2 emissions in China from 1992 to 2022. We highlight the importance of financial development as a key driver of GDP in emerging economies and its connection to energy use and environmental issues. Employing two different Autoregressive Distributed Lag (ARDL) models, our results show that crude oil prices, financial development, and GDP have a positive effect on coal consumption. However, the previous year’s financial development and the Shanghai Composite Index are linked to higher CO2 emissions over the long term. These findings suggest that increased energy demand from economic growth leads to more coal use, and as financial development progresses, it can boost industrial activities that further increase this demand. Additionally, the error correction model shows that about 28.26% of short-term imbalances in CO2 emissions are corrected each year, while 14.74% of coal consumption imbalances return to their long-term balance annually. These findings emphasize the stability of CO2 emissions and coal consumption systems, highlighting the need for sustainable policies to address the environmental challenges posed by financial development and energy use in China.

Kaynakça

  • Acheampong, A. O., Amponsah, M., & Boateng, E. (2020). Does financial development mitigate carbon emissions? Evidence from heterogeneous financial economies. Energy Economics, 88, 104768. https://doi.org/10.1016/j.eneco.2020.104768
  • Adebayo, T. S., Kirikkaleli, D., Adeshola, I., Oluwajana, D., Akinsola, G. D., & Osemeahon, O. S. (2021). Coal consumption and environmental sustainability in South Africa: the role of financial development and globalization. International Journal of Renewable Energy Development, 10(3), 527-536. https://doi.org/10.14710/ijred.2021.34982
  • Adebayo, T. S. (2023). The trade-off between environmental sustainability and economic growth through coal consumption and natural resources exploitation in China: New policy insights from wavelet local multiple correlations. Geological Journal, 58(4), 1384-1400. https://doi.org/10.1002/gj.4664
  • Aleman, E., & Sendich, E. (2021). EIA International Energy Outlook 2021 - U.S. Energy Information Administration (EIA). https://www.eia.gov/outlooks/ieo/IIF_China/index.php.
  • Ali, K., Jianguo, D., & Kirikkaleli, D. (2024). Driving toward a greener future: green logistics, financial innovation, and environmental sustainability in China—evidence from novel Fourier approaches. Environment, Development and Sustainability, 26(5), 13303-13323. https://doi.org/10.1007/s10668-023-04199-5
  • Apergis, N., & Payne, J. E. (2014). Renewable energy, output, CO2 emissions, and fossil fuel prices in Central America: Evidence from a nonlinear panel smooth transition vector error correction model. Energy economics, 42, 226-232. https://doi.org/10.1016/j.eneco.2014.01.003
  • Aswani, J., Raghunandan, A., & Rajgopal, S. (2024). Are carbon emissions associated with stock returns?. Review of Finance, 28(1), 75-106. https://doi.org/10.1093/rof/rfad013
  • Awosusi, A. A., Adebayo, T. S., Rjoub, H., & Wong, W. K. (2022). How do financial development and renewable energy affect consumption-based carbon emissions?. Mathematical and Computational Applications, 27(4), 73. https://doi.org/10.3390/mca27040073
  • Chang, C. L., Ilomäki, J., Laurila, H., & McAleer, M. (2020). Causality between CO2 emissions and stock markets. Energies, 13(11), 2893. https://doi.org/10.3390/en13112893
  • Chen, G., Wei, B., & Zhu, R. (2022). The impact of environmental subsidy on the performance of corporate environmental responsibility: Evidence from China. Frontiers in Environmental Science, 10, 972328. https://doi.org/10.3389/FENVS.2022.972328/BIBTEX.
  • Dai, Z., Zhang, X., & Yin, Z. (2023). Extreme time-varying spillovers between high carbon emission stocks, green bond and crude oil: Evidence from a quantile-based analysis. Energy Economics, 118, 106511. https://doi.org/10.1016/j.eneco.2023.106511
  • Dilanchiev, A., Umair, M., & Haroon, M. (2024). How does causality impact the renewable energy, carbon emissions, and economic growth nexus in the South Caucasus Countries? Environmental Science and Pollution Research, 1-17. https://doi.org/10.1007/s11356-024-33430-7
  • Duan, R., & Guo, P. (2021). Electricity Consumption in China: The Effects of Financial Development and Trade Openness. Sustainability 2021, Vol. 13, Page 10206, 13(18), 10206. https://doi.org/10.3390/SU131810206.
  • Gu, F., Wang, J., Guo, J., & Fan, Y. (2020). How does the supply and demand of steam coal affect the investment in the clean energy industry? Evidence from China. Resources Policy, 69, 101788. https://doi.org/10.1016/j.resourpol.2020.101788
  • Gyimah, J., Yao, X., Tachega, M. A., Hayford, I. S., & Opoku-Mensah, E. (2022). Renewable energy consumption and economic growth: New evidence from Ghana. Energy, 248, 123559. https://doi.org/10.1016/j.energy.2022.123559
  • Houser, T. (2014). How China’s Resource Quest Is Changing China | The National Bureau of Asian Research (NBR). Asia Policy, 18(2), 1–6. https://www.nbr.org/publication/how-chinas-resource-quest-is-changing-china/

ÇİN'DE FİNANSAL GÖSTERGELER KAYNAK TÜKETİMİNE VE ÇEVRESEL SÜRDÜRÜLEBİLİRLİĞE NE KADAR KATKIDA BULUNUYOR

Yıl 2025, Cilt: 13 Sayı: 1, 175 - 187, 30.06.2025
https://doi.org/10.52122/nisantasisbd.1622160

Öz

Bu çalışma, finansal kalkınma, GSYİH, Şangay Bileşik Endeksi ve ham petrol fiyatlarının 1992'den 2022'ye kadar Çin'deki kömür tüketimini ve CO2 emisyonlarını nasıl etkilediğini incelemektedir. Gelişmekte olan ekonomilerde GSYH'nin önemli bir itici gücü olarak finansal gelişmenin önemini ve bunun enerji kullanımı ve çevre sorunlarıyla bağlantısını vurguluyoruz. İki farklı Otoregresif Dağıtılmış Gecikme (ARDL) modeli kullanarak elde ettiğimiz sonuçlar, ham petrol fiyatları, finansal gelişme ve GSYH'nin kömür tüketimi üzerinde pozitif bir etkiye sahip olduğunu göstermektedir. Bu bulgular, ekonomik büyüme nedeniyle artan enerji talebinin daha fazla kömür kullanımına yol açtığını ve finansal gelişme ilerledikçe, bu talebi daha da artıran endüstriyel faaliyetleri artırabileceğini göstermektedir. Şangay Bileşik Endeksi'nin CO2 emisyonları üzerindeki etkisi, enerji üretimi ve tüketimi ile ilgili kilit endüstrilerin ne kadar iyi performans gösterdiğini ve piyasa eğilimlerinin çevresel sonuçları etkilediğini gösterebilir. Ayrıca hata düzeltme modeli, CO2 emisyonlarındaki kısa vadeli dengesizliklerin yaklaşık %28,26'sının her yıl düzeltildiğini, kömür tüketimindeki dengesizliklerin ise %14,74'ünün her yıl uzun vadeli dengesine döndüğünü göstermektedir. Bu bulgular, CO2 emisyonları ve kömür tüketim sistemlerinin istikrarını vurgulamakta ve Çin'de finansal kalkınma ve enerji kullanımının yarattığı çevresel zorlukları ele almak için sürdürülebilir politikalara duyulan ihtiyacı ortaya koymaktadır.

Kaynakça

  • Acheampong, A. O., Amponsah, M., & Boateng, E. (2020). Does financial development mitigate carbon emissions? Evidence from heterogeneous financial economies. Energy Economics, 88, 104768. https://doi.org/10.1016/j.eneco.2020.104768
  • Adebayo, T. S., Kirikkaleli, D., Adeshola, I., Oluwajana, D., Akinsola, G. D., & Osemeahon, O. S. (2021). Coal consumption and environmental sustainability in South Africa: the role of financial development and globalization. International Journal of Renewable Energy Development, 10(3), 527-536. https://doi.org/10.14710/ijred.2021.34982
  • Adebayo, T. S. (2023). The trade-off between environmental sustainability and economic growth through coal consumption and natural resources exploitation in China: New policy insights from wavelet local multiple correlations. Geological Journal, 58(4), 1384-1400. https://doi.org/10.1002/gj.4664
  • Aleman, E., & Sendich, E. (2021). EIA International Energy Outlook 2021 - U.S. Energy Information Administration (EIA). https://www.eia.gov/outlooks/ieo/IIF_China/index.php.
  • Ali, K., Jianguo, D., & Kirikkaleli, D. (2024). Driving toward a greener future: green logistics, financial innovation, and environmental sustainability in China—evidence from novel Fourier approaches. Environment, Development and Sustainability, 26(5), 13303-13323. https://doi.org/10.1007/s10668-023-04199-5
  • Apergis, N., & Payne, J. E. (2014). Renewable energy, output, CO2 emissions, and fossil fuel prices in Central America: Evidence from a nonlinear panel smooth transition vector error correction model. Energy economics, 42, 226-232. https://doi.org/10.1016/j.eneco.2014.01.003
  • Aswani, J., Raghunandan, A., & Rajgopal, S. (2024). Are carbon emissions associated with stock returns?. Review of Finance, 28(1), 75-106. https://doi.org/10.1093/rof/rfad013
  • Awosusi, A. A., Adebayo, T. S., Rjoub, H., & Wong, W. K. (2022). How do financial development and renewable energy affect consumption-based carbon emissions?. Mathematical and Computational Applications, 27(4), 73. https://doi.org/10.3390/mca27040073
  • Chang, C. L., Ilomäki, J., Laurila, H., & McAleer, M. (2020). Causality between CO2 emissions and stock markets. Energies, 13(11), 2893. https://doi.org/10.3390/en13112893
  • Chen, G., Wei, B., & Zhu, R. (2022). The impact of environmental subsidy on the performance of corporate environmental responsibility: Evidence from China. Frontiers in Environmental Science, 10, 972328. https://doi.org/10.3389/FENVS.2022.972328/BIBTEX.
  • Dai, Z., Zhang, X., & Yin, Z. (2023). Extreme time-varying spillovers between high carbon emission stocks, green bond and crude oil: Evidence from a quantile-based analysis. Energy Economics, 118, 106511. https://doi.org/10.1016/j.eneco.2023.106511
  • Dilanchiev, A., Umair, M., & Haroon, M. (2024). How does causality impact the renewable energy, carbon emissions, and economic growth nexus in the South Caucasus Countries? Environmental Science and Pollution Research, 1-17. https://doi.org/10.1007/s11356-024-33430-7
  • Duan, R., & Guo, P. (2021). Electricity Consumption in China: The Effects of Financial Development and Trade Openness. Sustainability 2021, Vol. 13, Page 10206, 13(18), 10206. https://doi.org/10.3390/SU131810206.
  • Gu, F., Wang, J., Guo, J., & Fan, Y. (2020). How does the supply and demand of steam coal affect the investment in the clean energy industry? Evidence from China. Resources Policy, 69, 101788. https://doi.org/10.1016/j.resourpol.2020.101788
  • Gyimah, J., Yao, X., Tachega, M. A., Hayford, I. S., & Opoku-Mensah, E. (2022). Renewable energy consumption and economic growth: New evidence from Ghana. Energy, 248, 123559. https://doi.org/10.1016/j.energy.2022.123559
  • Houser, T. (2014). How China’s Resource Quest Is Changing China | The National Bureau of Asian Research (NBR). Asia Policy, 18(2), 1–6. https://www.nbr.org/publication/how-chinas-resource-quest-is-changing-china/
Toplam 16 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Gelişme Ekonomisi, Çevre Ekonomisi
Bölüm Makaleler
Yazarlar

Mustafa Kevser 0000-0003-0586-1662

Hale Kırer Silva Lecuna 0000-0002-1879-3315

Ufuk Bingöl 0000-0003-1834-842X

Meltem Ince Yenilmez 0000-0002-4689-3196

Burak Darıcı 0000-0003-0765-7374

Yayımlanma Tarihi 30 Haziran 2025
Gönderilme Tarihi 17 Ocak 2025
Kabul Tarihi 22 Mayıs 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 13 Sayı: 1

Kaynak Göster

APA Kevser, M., Kırer Silva Lecuna, H., Bingöl, U., Ince Yenilmez, M., vd. (2025). HOW MUCH DO FINANCIAL INDICATORS CONTRIBUTE TO RESOURCE CONSUMPTION AND ENVIRONMENTAL SUSTAINABILITY IN CHINA?. Nişantaşı Üniversitesi Sosyal Bilimler Dergisi, 13(1), 175-187. https://doi.org/10.52122/nisantasisbd.1622160

Nişantaşı Üniversitesi kurumsal yayınıdır.