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Journals / Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi / 2026 / Cilt: 15 Sayı: 3

Drivers of environmental technology in G-7 economies: The role of financialization, policy stringency, and sustainable development

G-7 ekonomilerinde çevresel teknolojinin belirleyicileri: Finansallaşma, politika sıkılığı ve sürdürülebilir kalkınmanın rolü

Ferhat Çıtak(HİTİT ÜNİVERSİTESİ)0000-0003-4978-5251
Pages
1320–1339
Publication Date
2025-09-29
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The findings highlight the need for policymakers to account for quantile-based heterogeneity when formulating targeted and effective strategies.

📌 3 Key Takeaways

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Objective & Hypothesis:The escalating environmental crises and the intensifying impacts of climate change have rendered the development and implementation of environmental technologies a fundamental pillar of sustainable development.
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Key Findings & Data:In this context, the present study examines the effects of financialization (measured through financial development and financial institutions), environmental policy stringency, and sustainable development indicators on environmental technology in the G7 countries (the United States, Germany, France, the United Kingdom, Italy, Japan, and Canada) using a panel dataset covering the period from 1990 to 2020.
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Conclusion & Impact:The findings highlight the need for policymakers to account for quantile-based heterogeneity when formulating targeted and effective strategies.
🔬Design:Araştırma Makalesi
📍Scope:2020 Verileri
⚙️Variables:Çevresel Teknoloji · Finansallaşma · Çevre Vergileri

Abstract

The escalating environmental crises and the intensifying impacts of climate change have rendered the development and implementation of environmental technologies a fundamental pillar of sustainable development. However, the diffusion of such technologies is not solely determined by technical advancements; it is also shaped by a multitude of factors, including countries’ economic structures, the maturity of financial markets, the implementation of environmental policies, and approaches to sustainable development. In this context, the present study examines the effects of financialization (measured through financial development and financial institutions), environmental policy stringency, and sustainable development indicators on environmental technology in the G7 countries (the United States, Germany, France, the United Kingdom, Italy, Japan, and Canada) using a panel dataset covering the period from 1990 to 2020. Employing the Method of Moments Quantile Regression (MMQR) approach, the analysis reveals that the impacts of these variables on environmental technology vary significantly across quantiles. Financial development exerts a negative influence particularly at lower quantile levels, whereas the development of financial institutions demonstrates a positive impact within lower quantiles. Environmental policy stringency is found to have statistically significant and positive effects across all quantiles. In contrast, the sustainable development indicator negatively affects environmental technology at the middle and upper quantiles. The findings highlight the need for policymakers to account for quantile-based heterogeneity when formulating targeted and effective strategies.

Özet

Giderek derinleşen çevresel krizler ve iklim değişikliği, çevresel teknolojilerin geliştirilmesini ve uygulanmasını sürdürülebilir kalkınmanın temel dinamiklerinden biri hâline getirmiştir. Ancak bu teknolojilerin yaygınlaştırılması yalnızca teknik gelişmelerle sınırlı olmayıp aynı zamanda ülkelerin ekonomik yapısı, finansal piyasaların olgunluğu, çevresel politika uygulamaları ve sürdürülebilir kalkınma yaklaşımları gibi çok sayıda faktör tarafından şekillendirilmektedir. Bu bağlamda, çalışma 1990–2020 dönemini kapsayan panel veri setiyle G7 ülkeleri (ABD, Almanya, Fransa, İngiltere, İtalya, Japonya ve Kanada) özelinde finansallaşma (finansal gelişme ve finansal kurumlar), çevresel politika sıkılığı ve sürdürülebilir kalkınma göstergelerinin çevresel teknoloji üzerindeki etkilerini incelemektedir. Momentler Kantil Regresyon Analizi (MKRA) yöntemiyle yapılan analizde bu değişkenlerin çevresel teknoloji üzerindeki etkilerinin kantil düzeylerine göre farklılık gösterdiği bulunmuştur. Finansal gelişme değişkeni, özellikle düşük kantil düzeylerinde çevresel teknolojiye negatif yönde etki ederken finansal kurumların gelişmişliği alt kantillerde pozitif etkiler sergilemektedir. Çevresel politika sıkılığı tüm kantillerde istatistiksel olarak anlamlı ve olumlu etkilere sahiptir. Buna karşılık, sürdürülebilir kalkınma göstergesi orta ve yüksek kantillerde çevresel teknolojiyi olumsuz etkilemektedir. Bulgular, politika yapıcıların kantil düzeyli heterojenliği dikkate alarak daha hedefli ve etkili stratejiler geliştirmesi gerektiğine işaret etmektedir.

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Cite This Article

Çıtak, F. (2025). Drivers of environmental technology in G-7 economies: The role of financialization, policy stringency, and sustainable development. Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi, Cilt: 15 Sayı: 3, 1320–1339. https://doi.org/10.30783/nevsosbilen.1675497

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