Environmental Kuznets Curve Hypothesis İn Eurasian Economic Union Validity: Panel Data Analysis

Global economies demand for energy has increased rapidly with the starting of industrial revolution. Energy has become a meta which is constantly being needed in all areas of life in addition to its role as an input being used in production. Energy consumption is also an important indicator of economic development. Accordingly, it is seen that economically developed countries have higher energy consumption. However, while ensuring their economical development, the countries are also damaging the ecological balance. A rapid consumption of energy increase results in increased emissions of harmful carbon and sulfur to the environment. Whilst economies have to consume energy to make themselves grow, on the other hand this damages the environment and distrupts ecological balance and harm the ecological sustainability. In this study, the relationship between economic growth and carbon emissions of Eurasian Economic Union members; Armenia, Russia, Kazakhstan, Kyrgyzstan and Belarus are analyzed by panel data analysis method. In the current period, the relationship between carbon emissions and economic growth was found statistically insignificant, hence it is agreed that the Environmental Kuznets Curve hypothesis is not valid. In addition, it was observed that energy consumption and population density variables used as control variables positively affect carbon emissions. According to the results; Environmental norms should be applied and the use of renewable energy sources should be increased in order to prevent the union members from harming the environment.

Keywords

Environmental Pollution, Economic Growth, Environmental Kuznets Curve, Eurasia Economic Union, Panel Data Analysis