Politika belirsizlikleri ve iklim değişikliği arasındaki etkileşim: Gelişmekte olan ve gelişmiş ülkeler örneği

Since the turn of the twenty-first century, the world has experienced many episodes of high economic policy uncertainty (EPU). Recent repercussions of climate change also raised concerns about climate policy uncertainties (CPU). The thesis aims to investigate the interactions of EPU and CPU with climate change for emerging (EME) and developed countries. It also tests Environmental Kuznets Curve (EKC) hypothesis that proposes an inverted U-shaped curve between affluence and environmental degradation. Two models were created and tested, Model 1 with EPU and Model 2 with CPU. Pooled Mean Group (PMG) estimations with Model 1 reveal that population escalates climate change in both country groups in the long-term. Consistent with consumption effect, EPU decreases consumption of energy and pollution-intensive commodities and mitigates climate change in EMEs in the long-term. Renewable energy consumption also alleviates climate change in both country groups in the short-term. Thus, energy transition holds the key to tackling climate change. The EKC hypothesis is verified only with Model 1 and for EMEs, implying that they are expected to benefit from increased adoption of clean technologies. In Model 2, EKC hypothesis cannot be verified in any country groups but CPU alleviates climate change in EMEs in the short-term. This might be because of the reliance of economic agents` decisions on current and future policy expectations. In the additional analysis, we find evidence in OECD countries for the interrelation of energy-related indicators with current account deficit. We conclude that energy policies are related to the well-being of countries' economies.