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Öğe Does globalization in Turkey induce increased energy consumption: insights into its environmental pros and cons(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Etokakpan, Mfonobong Udom; Adedoyin, Festus Fatai; Yorucu, Vedat; Bekun, Festus VictorGlobalization is the paradigm shift to a more integrated world economy broadly shaping economies and societies around the globe. The wave of globalization is much more eminent on its impact on increased energy demand, knowledge and technology transfer, trade, and financial capital flows. The present study focuses on Turkey, a fast-emerging economy that is no exception to the wave of globalization. This current study explores the dynamics between ecological footprints, energy consumption, and real income level for the case of Turkey in a carbon-income function while accounting for other covariate like globalization to avoid omitted variable bias. The study data spans from 1970 to 2017 on an annual frequency basis. The stationarity properties of the outlined variables were investigated. Subsequently, the equilibrium relationship between the variables is confirmed by the battery of recent robust estimation techniques. While to detect the causality of direction among the variables, the Modified Wald test causality test is utilized. This study reveals that an increase in energy consumption in Turkey reduces environmental pollution by a magnitude of 0.37% in the short run and 0.43% long run, while an increase in economic expansion dampens the quality of the environment 0.42% and 0.72% on both short and long-run basis. This is indicative given that Turkey is more energy conscious and energy efficient, while a positive statistically significant relationship is observed between real income level and ecological footprint and globalization index. The causality analysis also supports the growth-induced energy consumption hypothesis. The study further offers policy direction for the energy sector in Turkey in the face of global interconnectedness.Öğe Modeling natural gas consumption, capital formation, globalization, CO2 emissions and economic growth nexus in Malaysia: Fresh evidence from combined cointegration and causality analysis(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Etokakpan, Mfonobong Udom; Solarin, Sakiru Adebola; Yorucu, Vedat; Bekun, Festus Victor; Sarkodie, Samuel AsumaduThe discovery of natural gas in the 20th century has increased aggregate energy consumption while spurring economic development. However, very little attention has been given in the energy economics literature, especially in Malaysia. As such, this paper primarily revisited the natural gas — economic growth nexus hypothesis in the case of Malaysia. The study was conducted with data from 1980 to 2014 in a multivariate framework with the inclusion of capital formation, globalization, and CO2 emissions to avoid omitted variable bias. We investigated the stationarity properties with a method that accommodates a single structural break. Subsequently, the novel combined co-integration test in conjunction with several techniques were used to assess the magnitude of the long-run equilibrium relationship. The empirical findings trace the long-run equilibrium relationship among the variables over the sampled period. The Granger causality test analysis confirmed the growth-energy driven hypothesis in Malaysia. The findings call for the adoption of cleaner and environmentally friendly energy sources in the Malaysian energy mix. We highlight the need for pragmatic strides from both private and public energy sector stakeholders to prioritize clean and accessible energy in line with the Sustainable Development Goals.