Özet:

This study aims to investigate the validity of the Environmental Kuznet Curve (EKC) hypothesis under different dimensions of globalization (economic, social and political) for the G7 countries. The selection of this group of countries is based on the fact that these 7 countries own approximately 65% of the world's wealth and have the power to influence the rest of the world with their policies and practices in every field. Therefore, it is thought that determining the impact of all dimensions of globalization on carbon emissions for this group of countries and making policy recommendations based on these findings will have a direct and/or indirect impact on the rest of the world. In the empirical analyses conducted for this purpose, we first examined the possible horizontal cross-sectional dependence among the observed countries and found that there is horizontal cross-sectional dependence among G7 countries. Hence, second generation panel data methodologies that account for horizontal cross-sectional dependence are used. The study covers the period 1996-2020. The findings from the empirical analyses indicate that an increase in the overall globalization index and the economic, social and political globalization indices, which are sub-dimensions of globalization, reduces environmental pollution and the Environmental Kuznets Curve (EKC) hypothesis is valid. According to the results of causality analysis, it is concluded that there is bidirectional causality between real GDP and carbon emissions and between energy consumption and carbon emissions. In addition, there is unidirectional causality from general globalization, political globalization and social globalization to carbon emissions. Finally, no causality is found between economic globalization and carbon emissions.

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