Özet:

The purpose of this study is to empirically investigate the relationships between CO2 emissions, energy consumption, economic growth, trade openness, and urbanization within the framework of the Environmental Kuznets Curve (EKC) hypothesis for 11 Islamic and 11 non-Islamic Emerging Economies in the period of 1990-2018. For this purpose, the long-term relationship between variables are investigated for both country groups using MG, AMG, and CCEMG estimators. The results show that the effect of energy consumption on CO2 is significantly positive in both country specific and panel results. In non-Islamic emerging economies, there is significantly positive relationship between urbanization and CO2 for most country specific and panel results whereas the effect of urbanization on CO2 is significantly negative for most country specific and panel results in Islamic emerging economies. The effect of trade openness on CO2 is significantly negative in most Islamic and non-Islamic emerging economies. In panel results, the effect of trade openness on CO2 is significantly negative in non-Islamic emerging economies while it is insignificantly negative in Islamic emerging economies. The country specific results within the framework of the EKC hypothesis show that the EKC hypothesis is valid for Malaysia and Kuwait in Islamic emerging economies as well as Argentina, China, and Thailand in non-Islamic emerging economies for all models. The panel results represent that the EKC hypothesis is not valid for Islamic emerging economies in all models while valid for non-Islamic emerging economies in MG and AMG models.

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