Financial sector development, external debt, and Turkey's renewable energy consumption.
The primary aim of this paper is to provide fresh evidence by testing the linkage between renewable energy consumption, financial development, and external debts in Turkey, using the Bootstrap ARDL test (McNown et al. 2018). The Bootstrap ARDL test is desired over traditional co-integration tests du...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2022-01-01
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| Series: | PLoS ONE |
| Online Access: | https://doi.org/10.1371/journal.pone.0265684 |
| _version_ | 1811296590660370432 |
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| author | Majdi Saleem Jabari Mehmet Aga Ahmed Samour Ahmed Samour |
| author_facet | Majdi Saleem Jabari Mehmet Aga Ahmed Samour Ahmed Samour |
| author_sort | Majdi Saleem Jabari |
| collection | DOAJ |
| description | The primary aim of this paper is to provide fresh evidence by testing the linkage between renewable energy consumption, financial development, and external debts in Turkey, using the Bootstrap ARDL test (McNown et al. 2018). The Bootstrap ARDL test is desired over traditional co-integration tests due to its ability to predict when resolving power and size limitation issues, and its corresponding features, which have not been addressed by traditional co-integration tests. The ARDL testing model is employed to investigate the coefficients amongst the selected variables. The findings from the ARDL test illustrate that there is a positive linkage between renewable consumption and Turkey's financial development. Furthermore, the outcomes illustrate that the coefficient of external debt is negative and significant. The results indicate that policymakers in Turkey must use the growth of the financial sector to minimize environmental degradation by promoting investment in energy and production through renewable energy sources. Furthermore, the research suggested that Turkey's policy-makers should reformulate the external debt policy to reduce the negative influence of external debt on sustainable energy development. This could potentially be achieved by removing any restrictions on international capital flow or barriers on foreign capital and foreign investment. Hence, the findings of this paper provide valuable conclusions and recommendations for Turkey heading to sustainable and green financial sector. |
| first_indexed | 2024-04-13T05:50:43Z |
| format | Article |
| id | doaj.art-c53e42e4f68a43c6845bda8576bec715 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-04-13T05:50:43Z |
| publishDate | 2022-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-c53e42e4f68a43c6845bda8576bec7152022-12-22T02:59:47ZengPublic Library of Science (PLoS)PLoS ONE1932-62032022-01-01175e026568410.1371/journal.pone.0265684Financial sector development, external debt, and Turkey's renewable energy consumption.Majdi Saleem JabariMehmet AgaAhmed SamourAhmed SamourThe primary aim of this paper is to provide fresh evidence by testing the linkage between renewable energy consumption, financial development, and external debts in Turkey, using the Bootstrap ARDL test (McNown et al. 2018). The Bootstrap ARDL test is desired over traditional co-integration tests due to its ability to predict when resolving power and size limitation issues, and its corresponding features, which have not been addressed by traditional co-integration tests. The ARDL testing model is employed to investigate the coefficients amongst the selected variables. The findings from the ARDL test illustrate that there is a positive linkage between renewable consumption and Turkey's financial development. Furthermore, the outcomes illustrate that the coefficient of external debt is negative and significant. The results indicate that policymakers in Turkey must use the growth of the financial sector to minimize environmental degradation by promoting investment in energy and production through renewable energy sources. Furthermore, the research suggested that Turkey's policy-makers should reformulate the external debt policy to reduce the negative influence of external debt on sustainable energy development. This could potentially be achieved by removing any restrictions on international capital flow or barriers on foreign capital and foreign investment. Hence, the findings of this paper provide valuable conclusions and recommendations for Turkey heading to sustainable and green financial sector.https://doi.org/10.1371/journal.pone.0265684 |
| spellingShingle | Majdi Saleem Jabari Mehmet Aga Ahmed Samour Ahmed Samour Financial sector development, external debt, and Turkey's renewable energy consumption. PLoS ONE |
| title | Financial sector development, external debt, and Turkey's renewable energy consumption. |
| title_full | Financial sector development, external debt, and Turkey's renewable energy consumption. |
| title_fullStr | Financial sector development, external debt, and Turkey's renewable energy consumption. |
| title_full_unstemmed | Financial sector development, external debt, and Turkey's renewable energy consumption. |
| title_short | Financial sector development, external debt, and Turkey's renewable energy consumption. |
| title_sort | financial sector development external debt and turkey s renewable energy consumption |
| url | https://doi.org/10.1371/journal.pone.0265684 |
| work_keys_str_mv | AT majdisaleemjabari financialsectordevelopmentexternaldebtandturkeysrenewableenergyconsumption AT mehmetaga financialsectordevelopmentexternaldebtandturkeysrenewableenergyconsumption AT ahmedsamour financialsectordevelopmentexternaldebtandturkeysrenewableenergyconsumption AT ahmedsamour financialsectordevelopmentexternaldebtandturkeysrenewableenergyconsumption |