Abstract
The attention of scholars and policymakers on the achievement of sustainable green economy has been on increase; however, the topic has not been exhaustively investigated. This study empirically investigates the implications of financial regulations on sustainable green economy in Turkey utilizing a time series data spanning from 1996 to 2019. This study employed Perron and Lee-Strazicich unit root test in the presence of structural break point for examining the stationarity properties of the series and FMOLS, CCR, and ARDL for estimating the long and short-run effect of the financial regulations on carbon productivity. Our study demonstrates that rule of law, economic freedom, and inflation have a significant long-run relationship with carbon productivity as confirmed by FMOLS and CCR, while rule of law, regulatory quality economic freedom, and inflation were confirmed by ARDL to have long-run causal relationship with carbon productivity. In addition, our study found that control of corruption, government effectiveness, rule of law, regulatory quality economic freedom, and inflation have a short-run causal effect on carbon productivity. Finally, this study concludes that financial regulations is significant for achieving sustainable green economy in Turkey and as such should be accorded adequate attention by the policy makers.
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The study conception and design were carried out by Jamiu Adetola Odugbesan (JAO) and Husam Rjoub (HR). The material preparation, data collection, and analysis were done by JAO and HR, while writing of the manuscript was done by Chuka Uzoma Ifediora and Chiemelie Benneth Iloha. All the authors read and commented on previous versions of the manuscript and approved the final manuscript.
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Odugbesan, J.A., Rjoub, H., Ifediora, C.U. et al. Do financial regulations matters for sustainable green economy: evidence from Turkey. Environ Sci Pollut Res 28, 56642–56657 (2021). https://doi.org/10.1007/s11356-021-14645-4
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DOI: https://doi.org/10.1007/s11356-021-14645-4