Dergiler / Muhasebe ve Finans İncelemeleri Dergisi / 2026 / Cilt: 9 Sayı: 2

KIRILGAN BEŞLİ ÜLKELERDE SÜRDÜRÜLEBİLİR BİR ÇEVREYE DOĞRU: ÇEVRESEL BOZULMADA YENİLENEBİLİR ENERJİ, FİNANSAL GELİŞME VE ASKERİ HARCAMALARIN ROLÜ

TOWARDS A SUSTAINABLE ENVIRONMENT IN THE FRAGILE FIVE COUNTRIES: THE ROLE OF RENEWABLE ENERGY, FINANCIAL DEVELOPMENT AND MILITARY EXPENDITURE IN ENVIRONMENTAL DEGRADATION

Emine Kaya(Bingöl Üniversitesi)0000-0002-1823-162X
Sayfa
207–219
Yayın Tarihi
2026-10-01
🏛️Bu makalenin bibliyografik verileri ve tam metin bağlantısı DergiPark üzerinden sağlanmıştır.
DergiPark Kaydı ↗
✨

Yapay Zeka Hızlı Bakış & Çıkarımlar

AI Insight
⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

İncelenen tüm ülkelerde, CAFP'nin MILEX ve FD'deki artışla birlikte arttığı, RENW'deki artışla birlikte ise azaldığı gözlemlenmiştir.

📌 3 Maddede Bu Makale

🎯
Amaç & Hipotez:Bu çalışmanın amacı, “kırılgan beşli” ekonomiler olarak bilinen Brezilya, Hindistan, Endonezya, Güney Afrika ve Türkiye örnekleminde askeri harcamalar, finansal kalkınma, yenilenebilir enerji tüketimi ve çevre kirliliği arasındaki ilişkiyi belirlemektir.
📊
Temel Bulgular & Veri:Bu amaçla, 1990-2022 dönemi için yıllık veriler kullanılarak panel veri analizi yapılmıştır.
💡
Sonuç & Katkı:İncelenen tüm ülkelerde, CAFP'nin MILEX ve FD'deki artışla birlikte arttığı, RENW'deki artışla birlikte ise azaldığı gözlemlenmiştir.
🔬Tür:Uygulamalı Anket & Alan Araştırması
📍Kapsam:2022 Verileri
⚙️Değişkenler:Askeri Harcamalar · Yenilenebilir Enerji Tüketimi · Finansal Kalkınma

Özet

Bu çalışmanın amacı, “kırılgan beşli” ekonomiler olarak bilinen Brezilya, Hindistan, Endonezya, Güney Afrika ve Türkiye örnekleminde askeri harcamalar, finansal kalkınma, yenilenebilir enerji tüketimi ve çevre kirliliği arasındaki ilişkiyi belirlemektir. Bu amaçla, 1990-2022 dönemi için yıllık veriler kullanılarak panel veri analizi yapılmıştır. Elde edilen sonuçlar, yenilenebilir enerji tüketimi, finansal kalkınma ve askeri harcamalar ile çevre kirliliği arasında uzun vadeli bir ilişki olduğunu göstermiştir. Her ülkede MILEX, RENW ve FD ile CAFP arasında anlamlı bir ilişki bulunmuştur. İncelenen tüm ülkelerde, CAFP'nin MILEX ve FD'deki artışla birlikte arttığı, RENW'deki artışla birlikte ise azaldığı gözlemlenmiştir. MILEX ile CAFP arasındaki ilişkinin en yüksek olduğu ülkenin Hindistan, bu ilişkinin en düşük olduğu ülkenin ise Brezilya olduğu tespit edilmiştir. Güney Afrika, RENW ile CAFP arasındaki uzun vadeli ilişkinin en zayıf olduğu ülke olarak belirlenirken, bu ilişkinin en güçlü olduğu ülkenin Türkiye olduğu sonucuna ulaşılmıştır. FD ile CAFP arasındaki en yüksek ilişkiye sahip olan ülkenin Hindistan oldu tespit edilmiştir.

Abstract

The aim of this study is to determine the relationship between military expenditure, financial development, renewable energy consumption, and environmental pollution in a sample of the "fragile five" economies: Brazil, India, Indonesia, South Africa, and Turkey. For this purpose, panel data analysis was conducted using annual data for the period 1990-2022. The results showed a long-term relationship between renewable energy consumption, financial development, military expenditure, and environmental pollution. A significant relationship was found between MILEX, RENW, and FD, and CAFP in each country. In all countries examined, it was observed that CAFP increased with increases in MILEX and FD, and decreased with increases in RENW. India showed the strongest relationship between MILEX and CAFP, while Brazil showed the weakest. South Africa was identified as the country with the weakest long-term relationship between RENW and CAFP, while Turkey showed the strongest. India was found to have the highest relationship between FD and CAFP.

🔖

Bu Makaleye Atıf Yap

Kaya, E. (2026). KIRILGAN BEŞLİ ÜLKELERDE SÜRDÜRÜLEBİLİR BİR ÇEVREYE DOĞRU: ÇEVRESEL BOZULMADA YENİLENEBİLİR ENERJİ, FİNANSAL GELİŞME VE ASKERİ HARCAMALARIN ROLÜ. Muhasebe ve Finans İncelemeleri Dergisi, Cilt: 9 Sayı: 2, 207–219. https://doi.org/10.32951/mufider.2011205

📄 Tam Metin PDF Okuyucu

📄

PDF görüntüleyici hazırlanıyor...

Kaynakça (69)

  1. Ahmad, M., Ahmed, Z., Yang, X., Hussain, N. and Sinha, A. (2022). Financial Development and Environmental Degradation: Do Human Capital and Institutional Quality Make A Difference?. Gondwana Research, 105, 299-310.
  2. Anton, S. G., and Nucu, A. E. A. (2020). The Effect of Financial Development on Renewable Energy Consumption. A Panel Data Approach. Renewable Energy, 147, 330-338.
  3. Anwar, A., Sinha, A., Sharif, A., Siddique, M., Irshad, S., Anwar, W., and Malik, S. (2022). The Nexus Between Urbanization, Renewable Energy Consumption, Financial Development, And CO 2 Emissions: Evidence from Selected Asian Countries. Environment, Development and Sustainability, 1–21.
  4. Asongu, S. A., and Ndour, C. T. (2023). Military Expenditure, Governance, And Environmental Degradation in Sub-Saharan Africa. Environmental Processes, 10(4), 51.
  5. Baloch, M. A., Ozturk, I., Bekun, F. V., and Khan, D. (2021). Modeling The Dynamic Linkage Between Financial Development, Energy Innovation, And Environmental Quality: Does Globalization Matter?. Business Strategy and the Environment, 30(1), 176-184.
  6. Balsalobre-Lorente, D., Nur, T., Topaloglu, E. E. and Evcimen, C. (2024). Assessing The Impact of The Economic Complexity on The Ecological Footprint in G7 Countries: Fresh Evidence Under Human Development and Energy Innovation Processes. Gondwana Research, 127, 226-245.
  7. Block, S., Emerson, J. W., Esty, D. C., de Sherbinin, A., Wendling, Z. A., et al. (2024). Environmental Performance Index. New Haven, CT: Yale Center for Environmental Law and Policy. epi.yale.edu.
  8. Breusch, T. S., and Pagan, A. R. (1980). The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics. The review of economic studies, 47(1), 239-253.
  9. Cao, H., Khan, M. K., Rehman, A., Dagar, V., Oryani, B., and Tanveer, A. (2022). Impact Of Globalization, Institutional Quality, Economic Growth, Electricity and Renewable Energy Consumption on Carbon Dioxide Emission in OECD Countries. Environmental Science and Pollution Research, 29(16), 24191-24202.
  10. Chang, S., Chen, B., and Song, Y. (2023). Militarization, Renewable Energy Utilization, And Ecological Footprints: Evidence from RCEP Economies. Journal of Cleaner Production, 391, 136298.
  11. Chiu, Y. B., and Zhang, W. (2022). Effects of Energy and Economic Growth on CO2 Emissions: What Does Globalization Matter?. Environment, Development and Sustainability, 1-20.
  12. Cutcu, I., Eren, M. V., Cil, D., Karis, C., and Kocak, S. (2024). What is The Long-Run Relationship Between Military Expenditures, Foreign Trade and Ecological Footprint? Evidence From Method of Maki Cointegration Test. Environment, Development and Sustainability, 1-31.
  13. Dagestani AA., Shang Y., Schneider N et al (2023). Porter in China: A Quasi-Experimental View of Market-Based Environmental Regulation Effects on Firm Performance. Energy Economics, 126, 106966.
  14. Destek, M. A., and Manga, M. (2021). Technological Innovation, Financialization, And Ecological Footprint: Evidence from BEM Economies. Environmental Science and Pollution Research, 28, 21991-22001.
  15. Efayena, O. O., and Olele, E. H. (2024). Environmental Sustainability, Terrorism, And Military Expenditure in Sub-Saharan Africa: Evidence from Panel Quantile ARDL Regression and Panel Causality. Sustainable Futures, 7, 100214.
  16. Erdogan, S., Gedikli, A., Çevik, E. İ., and Öncü, M. A. (2022). Does Military Expenditure Impact Environmental Sustainability in Developed Mediterranean Countries?. Environmental Science and Pollution Research, 29(21), 31612-31630.
  17. Gokmenoglu, K. K., Taspinar, N., and Rahman, M. M. (2021). Military Expenditure, Financial Development and Environmental Degradation in Turkey: A Comparison of CO2 Emissions and Ecological Footprint. International Journal of Finance & Economics, 26(1), 986-997.
  18. Horky, F., and Fidrmuc, J. (2024). Financial Development and Renewable Energy Adoption in EU and ASEAN Countries. Energy Economics, 131, 107368.
  19. Iacobuţă, G. I., Brandi, C., Dzebo, A., and Duron, S. D. E. (2022). Aligning Climate and Sustainable Development Finance Through an SDG Lens. The Role of Development Assistance in Implementing the Paris Agreement. Global Environmental Change, 74, 102509.
  20. IEA, The World Energy Outlook 2021, 2021. https://www.iea.org/reports/wo rld-energy-outlook-2021. (Accessed 5 July 2023)
  21. Im, K. S., Pesaran, M. H., and Shin, Y. (2003). Testing For Unit Roots in Heterogeneous Panels. Journal of econometrics, 115(1), 53-74.
  22. Isiksal, A. Z. (2021). Testing The Effect of Sustainable Energy and Military Expenses on Environmental Degradation: Evidence from The States with The Highest Military Expenses. Environmental Science and Pollution Research, 28(16), 20487-20498.
  23. Jahanger, A., Usman, M., Murshed, M., Mahmood, H., and Balsalobre-Lorente, D. (2022). The Linkages Between Natural Resources, Human Capital, Globalization, Economic Growth, Financial Development, And Ecological Footprint: The Moderating Role of Technological Innovations. Resources policy, 76, 102569.
  24. Jamil, K., Liu, D., Gul, R. F., Hussain, Z., Mohsin, M., Qin, G., and Khan, F. U. (2022). Do Remittance and Renewable Energy Affect CO2 Emissions? An Empirical Evidence from Selected G-20 Countries. Energy & Environment, 33(5), 916-932.
  25. Johnstone, P., and McLeish, C. (2020). World Wars and The Age of Oil: Exploring Directionality in Deep Energy Transitions. Energy Research & Social Science, 69, 101732.
  26. Kanwal, M., and Khan, H. (2021). Does Carbon Asset Add Value to Clean Energy Market? Evidence From EU. Green Finance, 3(4), 495-507.
  27. Kao, C., and Chiang, M. H. (2001). On The Estimation and Inference of A Cointegrated Regression in Panel Data. Advances in Econometrics, 15, 179–222.
  28. Kartal, M. T., Samour, A., Adebayo, T. S., and Depren, S. K. (2023). Do Nuclear Energy and Renewable Energy Surge Environmental Quality in The United States? New Insights from Novel Bootstrap Fourier Granger Causality in Quantiles Approach. Progress in Nuclear Energy, 155, 104509.
  29. Kayani, G. M., Ashfaq, S., and Siddique, A. (2020). Assessment of Financial Development on Environmental Effect: Implications for Sustainable Development. Journal of Cleaner Production, 261, 120984.
  30. Khan, A., Sun, C., Xu, Z., and Liu, Y. (2023). Geopolitical Risk, Economic Uncertainty, And Militarization: Significant Agents of Energy Consumption and Environmental Quality. Environmental Impact Assessment Review, 102, 107166.
  31. Khaskheli, A., Jiang, Y., Raza, S. A., Khan, K. A., and Qureshi, M. A. (2021). Financial Development, International Trade, And Environmental Degradation: A Nonlinear Threshold Model Based on Panel Smooth Transition Regression. Environmental Science and Pollution Research, 28, 26449-26460.
  32. Konuk, F., Kaya, E., Akpınar, S., and Yıldız, Ş. (2023). The Relationship Between Military Expenditures, Financial Development And Environmental Pollution in G7 Countries. Journal of the Knowledge Economy, 15(1), 1087-1102.
  33. Lahiani, A. (2020). Is Financial Development Good for The Environment? An Asymmetric Analysis with CO 2 Emissions in China. Environmental Science and Pollution Research, 27, 7901-7909.
  34. Lee, C. C., Yahya, F., and Razzaq, A. (2023). Greening South Asia with Financial Liberalization, Human Capital, And Militarization: Evidence from the CS-ARDL Approach. Energy & Environment, 34(6), 1957-1981.
  35. Li, B., and Haneklaus, N. (2022). The Role of Clean Energy, Fossil Fuel Consumption and Trade Openness for Carbon Neutrality in China. Energy Reports, 8, 1090-1098.
  36. Li, D., Cao, L., Zhou, Z., Zhao, K., Du, Z., and Chen, Y. (2024). Correlating CO2 Emissions of Cities with The Inter-City Carbon Compensation Mechanism: A Regional Perspective in The Middle Reaches of The Yangtze River (MRYR), China. Environment, Development and Sustainability, 26(4), 9185-9216.
  37. Liza, F. F., Ahmad, F., Wei, L., Ahmed, K., and Rauf, A. (2024). Environmental Technology Development and Renewable Energy Transition Role Toward Carbon-Neutrality Goals in G20 Countries. Clean Technologies and Environmental Policy, 1-22.
  38. Maulidar, P., Fadila, S., Hafizah, I., Zikra, N., and Idroes, G. M. (2024). Enhancing Environmental Quality: Investigating the Impact of Hydropower Energy Consumption on CO2 Emissions in Indonesia. Ekonomikalia Journal of Economics, 2(1), 53-65.
  39. Mo, B., Li, Z., and Meng, J. (2022). The Dynamics of Carbon on Green Energy Equity Investment: Quantile-On-Quantile and Quantile Coherency Approaches. Environmental Science and Pollution Research, 29(4), 5912-5922.
  40. Mukhtarov, S., Yüksel, S., and Dinçer, H. (2022). The Impact of Financial Development on Renewable Energy Consumption: Evidence from Turkey. Renewable Energy, 187, 169-176.
  41. Ozcan, B., and Apergis, N. (2018). The Impact of Internet Use on Air Pollution: Evidence from Emerging Countries. Environmental Science and Pollution Research, 25, 4174-4189.
  42. Pata, U. K., Destek, M. A., Manga, M., and Cengiz, O. (2023). Militarization of NATO Countries Sparks Climate Change? Investigating The Moderating Role of Technological Progress and Financial Development. Journal of Cleaner Production, 409, 137241.
  43. Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers. Economics, 1240(1), 1.
  44. Pesaran, M. H. (2007). A Simple Panel Unit Root Test in The Presence of Cross‐Section Dependence. Journal of Applied Econometrics, 22(2), 265-312.
  45. Qamruzzaman, M., and Jianguo, W. (2020). The Asymmetric Relationship Between Financial Development, Trade Openness, Foreign Capital Flows, And Renewable Energy Consumption: Fresh Evidence from Panel NARDL Investigation. Renewable Energy, 159, 827-842.
  46. Qayyum, U., Anjum, S., and Sabir, S. (2021). Armed Conflict, Militarization and Ecological Footprint: Empirical Evidence from South Asia. Journal of Cleaner Production, 281, 125299.
  47. Rawtani, D., Gupta, G., Khatri, N., Rao, P. K., and Hussain, C. M. (2022). Environmental Damages Due To War in Ukraine: A Perspective. Science of The Total Environment, 850, 157932.
  48. Riaz, M. H., Khan, M., Ahmed, Z., and Zobair, S. A. M. (2024). Militarization, Industrial Progress, And Their Carbon Footprints in NATO Countries: A Panel Econometric Analysis.
  49. Saadaoui, H., Dogan, M., and Omri, E. (2024). The Impacts of Hydroelectricity Generation, Financial Development, Geopolitical Risk, Income, And Foreign Direct Investment on Carbon Emissions in Turkey. Environmental Economics and Policy Studies, 26(2), 239-261.
  50. Sethi, P., Chakrabarti, D., and Bhattacharjee, S. (2020). Globalization, Financial Development and Economic Growth: Perils on The Environmental Sustainability of An Emerging Economy. Journal of Policy Modeling, 42(3), 520-535.
  51. Sharif, M., and Khan, F. N. (2024). Unraveling The Dynamic Nexus Between Economic Complexity, Renewable Energy Consumption, Energy Imports, And Environmental Quality in Pakistan. Environment, Development and Sustainability, 1-31.
  52. Shen, Y., Su, Z. W., Malik, M. Y., Umar, M., Khan, Z., and Khan, M. (2021). Does Green Investment, Financial Development and Natural Resources Rent Limit Carbon Emissions? A Provincial Panel Analysis of China. Science of the Total Environment, 755, 142538.
  53. Solarin, S. A., Al-Mulali, U., and Ozturk, I. (2018). Determinants Of Pollution and The Role of The Military Sector: Evidence from A Maximum Likelihood Approach with Two Structural Breaks in the USA. Environmental Science and Pollution Research, 25, 30949-30961.
  54. Swamy, P. A. V. B. (1971). Statistical Inference in Random Coefficient Regression Models Using Panel Data. Statistical Inference in Random Coefficient Regression Models, 97-155.
  55. Tatoğlu, F. Y. (2018). Panel Zaman Serileri Analizi. İstanbul: Beta Yayınları.
  56. Uddin, M., Rashid, M. H. U., Ahamad, S., and Ehigiamusoe, K. U. (2024). Impact of Militarization, Energy Consumption, And ICT On CO2 Emissions in G20 Countries. Environment, Development and Sustainability, 26(5), 11771-11793.
  57. Ullah, A., Dogan, M., Topcu, B. A., and Saadaoui, H. (2023). Modeling The Impacts of Technological Innovation and Financial Development on Environmental Sustainability: New Evidence from The World's Top 14 Financially Developed Countries. Energy Strategy Reviews, 50, 101229.
  58. Ullah, S., Andlib, Z., Majeed, M. T., Sohail, S. and Chishti, M. Z. (2021). Asymmetric Effects of Militarization on Economic Growth and Environmental Degradation: Fresh Evidence from Pakistan and India. Environmental Science and Pollution Research, 28, 9484-9497.
  59. Usman, M., and Hammar, N. (2021). Dynamic Relationship Between Technological Innovations, Financial Development, Renewable Energy, And Ecological Footprint: Fresh Insights Based on The STIRPAT Model for Asia Pacific Economic Cooperation Countries. Environmental Science and Pollution Research, 28(12), 15519-15536.
  60. Vo, D. H., Nguyen, N. T., Ho, C. M., and Nguyen, T. C. (2021). Does The Kuznets Curve Apply for Financial Development and Environmental Degradation in The Asia-Pacific Region?. Heliyon, 7(4).
  61. Wang, J., Shan, Y., Cui, C., Zhao, C., Meng, J., and Wang, S. (2024). Investigating The Fast Energy-Related Carbon Emissions Growth in African Countries and Its Drivers. Applied Energy, 357, 122494.
  62. Wang, K. H., Su, C. W., Lobonţ, O. R., and Umar, M. (2021). Whether Crude Oil Dependence and CO2 Emissions Influence Military Expenditure in Net Oil Importing Countries?. Energy Policy, 153, 112281.
  63. Westerlund, J. (2007). Testing For Error Correction in Panel Data. Oxford Bulletin of Economics and statistics, 69(6), 709-748.
  64. Xu, D., and Hussain, J. (2023). Globalization, Institutions, and Environmental Quality in Middle East and North African Countries. Environmental Science and Pollution Research, 30(26), 68951-68968.
  65. Yang, M., She, D., Abbas, S., Ai, F., and Adebayo, T. S. (2023). Environmental Cost of Financial Development Within the Framework of The Load Capacity Curve Hypothesis in The BRICS Economies: Do Renewable Energy Consumption and Natural Resources Mitigate Some Burden?. Geological Journal, 58(10), 3915-3927.
  66. Yang, Z., Wang, M. C., Chang, T., Wong, W. K., and Li, F. (2022). Which Factors Determine CO2 Emissions in China? Trade Openness, Financial Development, Coal Consumption, Economic Growth or Urbanization: Quantile Granger Causality Test. Energies, 15(7), 2450.
  67. Zeng, Q., Destek, M. A., Khan, Z., Badeeb, R. A., and Zhang, C. (2024). Green Innovation, Foreign Investment and Carbon Emissions: A Roadmap to Sustainable Development Via Green Energy and Energy Efficiency for BRICS Economies. International Journal of Sustainable Development & World Ecology, 31(2), 191-205.
  68. Zhu, H., Chang, S., and Chen, B. (2024). Technological Innovation, Militarization, And Environmental Change: Evidence from BRICS Economies. Environmental Science and Pollution Research, 31(16), 23909-23923.
  69. Zhu, W., Mehmood, U., Alnafrah, I., Abou Houran, M., and Dagestani, A. A. (2023). How Military Spending, Economic Growth, And Renewable Energy Impacts Ecological Footprints in Next Eleven Nations. Environmental Science and Pollution Research, 30(47), 103947-103957.