Özet:

This study investigates the long-term effect of economic growth, globalization, financial development, and industrialization on the load capacity factor (LCF) in Turkey. In addition, the study examined whether the load capacity curve (LCC) hypothesis is valid. For this purpose, annual data from 1970-2018 were used. Fourier ADF unit root test, Bayer-Hanck cointegration test, Fully Modified Least Squares (FMOLS), and Dynamic Least Squares (DOLS) techniques were used to analyze the data. Accordingly, when the results of the cointegration test were examined, it was determined that there was long-term cointegration between the series. Findings from FMOLS and DOLS approaches show that there is a U-shaped relationship between economic growth and LCF and reveal the existence of the LCC hypothesis for Turkey. In other words, the increase in per capita income harms environmental sustainability at the beginning but contributes to the improvement of environmental sustainability after a certain level is exceeded. However, it has been concluded that although globalization and financial development reduce the environmental quality, industrialization increases it. Therefore, globalization and finance policies can be adopted to encourage environmentally friendly practices can be adopted in order to ensure environmental sustainability.

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