| Title: | Scaling up the clean energy transition in Turkey : the role of financial development, green technologies, and economic complexity |
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| Authors: | ID Joof, Foday (Author)
ID Seraj, Mehdi (Author) |
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| Files: |  ZUP_Joof_Foday_2026.pdf (428,50 KB)
MD5: 58D8C49A8C0207C73376BF3DD5A270A7
 https://www.hippocampus.si/ISSN/1854-6935/24.203-225.pdf
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| Language: | English |
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| Work type: | Unknown |
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| Typology: | 1.01 - Original Scientific Article |
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| Organization: | ZUP - University of Primorska Press
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| Abstract: | The transition to a low-carbon economy represents a significant challenge and opportunity for Turkey, whose energy mix is 90% fossil fuel. In this context, this research aims to analyse the role of financial development (FD), economic complexity (EC), and environmental technology (PET) on renewable energy consumption (REC) in Turkey over the period from 1980 to 2020. The Fourier Bootstrap ARDL (FBARDL) approach, a new technique that can capture up to five smooth structural breaks and address small sample biases, indicates that a significant ‘green structural lock-in’ exists, where a 1% rise in FD and EC causes a 1.12% and 0.70% decrease in REC, respectively. In other words, Turkey’s financial development and economic complexity are still locked into fossil fuel consumption. In contrast, PET positively influences REC, where a 1% rise in PET causes a 0.12% rise in REC. The Granger causality test further confirms that FD and PET have a one-way causality to REC. The research contributes to the existing literature on the Turkish energy equilibrium, providing a much-needed antidote to the prevailing ‘positive finance’ assumptions in non-OECD economies. |
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| Keywords: | financial development, renewable energy, environmental technology, Turkey, Fourier Bootstrap ARDL |
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| Publication status: | Published |
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| Publication version: | Version of Record |
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| Place of publishing: | Koper |
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| Publisher: | University of Primorska Press |
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| Year of publishing: | 2026 |
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| Number of pages: | str. 203–225, 305-306 |
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| Numbering: | Vol. 24, no. 2 |
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| PID: | 20.500.12556/RUP-23539  |
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| UDC: | 330.34:620.97 |
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| ISSN on article: | 1854-6935 |
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| DOI: | 10.26493/1854-6935.24.203-225 |
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| COBISS.SI-ID: | 288597507 |
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| Publication date in RUP: | 24.08.2026 |
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| Views: | 37 |
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| Downloads: | 0 |
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