Browsing by Author "Depren, Özer"

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Citation - WoS: 18
Citation - Scopus: 18
Efficiency of green bond- clean energy- oil price- and geopolitical risk on sectoral decarbonization: Evidence from the globe by daily data and marginal effect analysis
(ELSEVIER SCI LTD, 2025-08) Tevfik Kartal; Cosimo Magazzino; Dilvin Taskin; Ozer Depren; Fatih Ayhan; Taşkın, Dilvin; Depren, Özer; Magazzino, Cosimo; Ayhan, Fatih; Kartal, Mustafa Tevfik
The increasing global emphasis on environmental sustainability has amplified the strategic relevance of green finance and clean energy within decarbonization initiatives. In alignment with this paradigm the present study empirically investigates the impact of green bonds (GBs) and various subcategories of clean energy production (EP) while accounting for oil price dynamics and geopolitical risk (GPR) across the period from January 1 2019 to July 31 2024. The analysis employs the Kernel-Based Regularized Least Squares (KRLS) methodology to capture the marginal effects of these variables on sector-specific decarbonization outcomes. The empirical findings reveal several key insights: (i) neither GBs nor nuclear EP effectively contribute to sectoral decarbonization, (ii) hydro EP enhances decarbonization in the residential sector, (iii) solar EP significantly supports decarbonization in both the power generation and residential sectors, (iv) wind EP facilitates decarbonization particularly in the transportation and power sectors, (v) elevated oil prices and heightened geopolitical risk are associated with improved decarbonization outcomes in the industrial and power sectors, (vi) the KRLS model demonstrates a robust predictive capability achieving an accuracy rate of approximately 97 %, and (vii) the marginal effects of the independent variables are heterogeneous across sectors determinants and distributional percentiles. These results substantiate the argument that while GBs currently fall short in delivering effective decarbonization specific clean EP modalities alongside market and geopolitical conditions exert varied and sector-dependent influences. Thus the study offers critical empirical evidence to inform policymakers and investors regarding the nuanced role of green finance and clean EP in advancing global decarbonization agendas.
Role of Market and Nonmarket-Based Environmental Policies, Energy Use, and Income on Environmental Sustainability: The Case of G7 Countries
(Elsevier, 2025-12) Gafarli, Galib; Taşkın, Dilvin; Depren, Özer; Ayhan, Fatih; Kartal, Mustafa Tevfik
Because the role of stringent environmental policies, energy use, and eco-friendly economic growth is highly critical in combating climate-related problems and preserving environmental quality, this study uncovers the incremental impact of aforementioned factors on load capacity factor (LCF) in G7 countries between 2000 and 2020 by performing a kernel-based regularized least squares (KRLS) model. The outcomes show that (i) gross domestic product (GDP) has only a supporting impact on LCF in the USA; (ii) market-based environmental policies are beneficial in Canada, France, Japan, and the USA; (iii) nonmarket-based environmental policies are helpful in France and USA; (iv) renewable energy use has positive support in Germany, Italy, Great Britain, and USA; (v) fossil energy use is harmful in all countries; (vi) the KRLS model has a high prediction performance; (vii) with regarding to G7 countries, the USA has the most positive condition. Thus, the study empirically highlights the average and pointwise incremental impact of the factors considered on LCF across countries and percentiles. Accordingly, the study discusses various policy options, such as mainly focusing on market-based environmental policies through making required regulations, considering also nonmarket-based environmental policies as a supportive mechanism, relying on further use of renewable energy through support packages and incentives, which should be taken into account in case of any additional measures application in the environmental area.