The impacts of cryptocurrency trading on environmental pollution: panel data analysis

Esra Koçak; Okyay Uçan

Makale detayları

The impacts of cryptocurrency trading on environmental pollution: panel data analysis

Yazarlar:

Esra Koçak | Okyay Uçan

Yayıncı:

Hatay Mustafa Kemal University

Ana Başlıklar:

Mikro İktisat (Diğer)

Dergi:

Journal of Politics Economy and Management Vol.6 Issue 2, pp.95-107

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001307359

pISSN:

2630-5933

Anahtar kelimeler:

Özet:

 The increase in technological development, industrialization and globalization causes rapid digital transformation. With this digital transformation, the use of cryptocurrency is also increasing. There is a very high level of energy consumption in the use of cryptocurrency. This intense increase in energy consumption brings with it an increase in carbon emissions CO2. In todays world where global warming and environmental pollution pose a threat to human life every day, the significant amount of energy consumed by cryptocurrencies has been an important criticism in the academic literature. This study aims to draw attention to the amount of energy used in the trading of cryptocurrencies and the environmental pollution caused by this. In the study, the data of the United States, Seychelles, South Korea, Japan and the United Kingdom, which have the highest cryptocurrency transaction flows, between 2013-2021 are used. For these countries, the relationship between economic growth, energy consumption and cryptocurrency trade and CO2, which is an indicator of environmental pollution, was tested with panel data analysis. As a result of the analysis using the FGLS test, it was found that energy consumption and cryptocurrency transactions increase CO2 for the relevant countries, while no significant relationship was found between GDP and CO2.

 The increase in technological development, industrialization and globalization causes rapid digital transformation. With this digital transformation, the use of cryptocurrency is also increasing. There is a very high level of energy consumption in the use of cryptocurrency. This intense increase in energy consumption brings with it an increase in carbon emissions CO2. In todays world where global warming and environmental pollution pose a threat to human life every day, the significant amount of energy consumed by cryptocurrencies has been an important criticism in the academic literature. This study aims to draw attention to the amount of energy used in the trading of cryptocurrencies and the environmental pollution caused by this. In the study, the data of the United States, Seychelles, South Korea, Japan and the United Kingdom, which have the highest cryptocurrency transaction flows, between 2013-2021 are used. For these countries, the relationship between economic growth, energy consumption and cryptocurrency trade and CO2, which is an indicator of environmental pollution, was tested with panel data analysis. As a result of the analysis using the FGLS test, it was found that energy consumption and cryptocurrency transactions increase CO2 for the relevant countries, while no significant relationship was found between GDP and CO2.

 The increase in technological development, industrialization and globalization causes rapid digital transformation. With this digital transformation, the use of cryptocurrency is also increasing. There is a very high level of energy consumption in the use of cryptocurrency. This intense increase in energy consumption brings with it an increase in carbon emissions CO2. In todays world where global warming and environmental pollution pose a threat to human life every day, the significant amount of energy consumed by cryptocurrencies has been an important criticism in the academic literature. This study aims to draw attention to the amount of energy used in the trading of cryptocurrencies and the environmental pollution caused by this. In the study, the data of the United States, Seychelles, South Korea, Japan and the United Kingdom, which have the highest cryptocurrency transaction flows, between 2013-2021 are used. For these countries, the relationship between economic growth, energy consumption and cryptocurrency trade and CO2, which is an indicator of environmental pollution, was tested with panel data analysis. As a result of the analysis using the FGLS test, it was found that energy consumption and cryptocurrency transactions increase CO2 for the relevant countries, while no significant relationship was found between GDP and CO2.

 Teknolojik gelişme, sanayileşme ve küreselleşmedeki artış dijital dönüşümün hızlı yaşanmasına sebep olmaktadır. Bu dijital dönüşümle birlikte kripto para kullanımı da artmaktadır. Kripto para kullanımında oldukça yüksek düzeyde enerji tüketimi gerçekleşmektedir. Enerji tüketimindeki bu yoğun artış da beraberinde karbon salınımındaki CO2 artışı getirmektedir. Küresel ısınmanın ve çevre kirliliğinin her geçen gün insan yaşamı için tehdit oluşturduğu günümüzde, kripto paraların tükettiği ciddi enerji miktarı da akademik yazında önemli bir eleştiri konusu olmuştur. Bu çalışmada kripto paraların ticaretinde kullanılan enerjinin miktarı ve bunun sebep olduğu çevre kirliliğine dikkat çekilmek istenmiştir. Çalışmada kripto para işlem akışının en çok olduğu Amerika Birleşik Devletleri, Seyşeller, Güney Kore, Japonya ve Birleşik Krallık ülkelerinin 2013-2021 yılları arasındaki verileri kullanılmıştır. Bu ülkeler için ekonomik büyüme, enerji tüketimi ve kripto para ticareti ile çevre kirliliğinin göstergesi olan CO2 arasındaki ilişki panel veri analizi ile test edilmiştir. FGLS testi kullanılarak yapılan analiz sonucunda ilgili ülkeler için enerji tüketiminin ve kripto para işlemlerinin CO2yi arttırdığı tespit edilirken GDP ile CO2arasında anlamlı bir ilişki bulunamamıştır.

Makale detayları

The impacts of cryptocurrency trading on environmental pollution: panel data analysis

Yazarlar:

Esra Koçak | Okyay Uçan

Yayıncı:

Hatay Mustafa Kemal University

Ana Başlıklar:

Mikro İktisat (Diğer)

Dergi:

Journal of Politics Economy and Management Vol.6 Issue 2, pp.95-107

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001307359

pISSN:

2630-5933

Environmental sustainability

Energy consumption

Cryptocurrency trading

FGLS (Feasible Generalized Least Square)

Panel dataÇevresel sürdürülebilirlik

Enerji tüketimi

Kripto para ticareti

FGLS (Uygun Genelleştirilmiş En Küçük Kareler)

Panel veri

Sayı

Makale detayları

Yazarlar: Esra Koçak | Okyay Uçan

Yayıncı: Hatay Mustafa Kemal University

Ana Başlıklar: Mikro İktisat (Diğer)

Dergi: Journal of Politics Economy and Management Vol.6 Issue 2, pp.95-107

Belge Tipi: Makale

Yayın Tarihi: 12/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001307359

pISSN: 2630-5933

Sayı

Yazarlar:

Esra Koçak | Okyay Uçan

Yayıncı:

Hatay Mustafa Kemal University

Ana Başlıklar:

Mikro İktisat (Diğer)

Dergi:

Journal of Politics Economy and Management Vol.6 Issue 2, pp.95-107

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001307359

pISSN:

2630-5933