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Environment and Sustainability

Edited By Celil Aydin and Burak Darici

The fact that environmental issues, which cause a significant externality within global goods, have gained a global dimension, necessitated more concrete steps for challenging with environmental issues. At this point, efforts to reduce environmental issues and protect the environment have been on the axis of sustainability. This book contains theoretical and empirical researches written by academicians and researches in the field of environment and sustainability. In the contributions, the macro dimensions of environmental pollution such as economic growth, health sector and technological development are examined. In addition to these, the contributors deal with micro dimensions such as consumption, marketing, accounting and firm behavior both in theory and empirically.

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The Correlation between Environmental Pollution and Economic Growth: Validity Analysis of the Environmental Kuznets Curve According to the Panel Data Method

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1

Introduction

Environmental issues are among globally important current issues. Emission of many hazardous gases such as carbon emission resulting from use of fossil fuels due to industrialization has been causing environmental pollution along with economic development lately. Furthermore, global warming and climate change problems draw attention to this field.

As environment was accepted as a financial variable, financial analyses including environmental pollution started to be conducted especially after the Second World War. Firstly, the Club of Rome stated in 1968 that uncontrolled use of resources due to population growth could damage the environment and pointed out that growth rates must be slowed down. Afterwards, the Kyoto Protocol that was signed in 1997 and entered into force in 2005 aimed to reduce greenhouse gas emissions of countries. In addition, the correlation between environment and growth is explained with the Environmental Kuznets Curve (EKC) in the economic theory.

The main objective of this study is to test the validity of the EKC hypothesis between 2003 and 2016 in upper-middle income countries located in the European-Central Asian territory2. Also the study aims to analyze impacts of electricity consumption and population density on EKC. We think that the study will make a significant contribution to the literature as the country group, variables and dataset are different from those in other studies. The first part of the study explains the EKC hypothesis while the second part mentions the domestic and foreign studies conducted in this field....

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