Thesis (PhD) - Cyprus International University. Institute of Graduate Studies and Research Business Administration Department

Includes bibliography (sheets 140-154)

ABSTRACT
Several empirical studies have examined the relationship between CO2 emissions,
economic expansion, and energy use, but the majority have not explored the potential
impact of the growth of the insurance market on their theoretical frameworks. By
examining the impact of insurance market development on environmental degradation,
this study seeks to offer fresh viewpoints on the empirical literature. The research makes
use of a novel method known as the bootstrap Autoregressive Distributed Lag (ARDL)
test, which was developed by (McNown et al., 2018). The short- and long-term
relationships between the variables under study are investigated using the ARDL testing
method. The Granger causality was also used in the study to investigate the causal
relationships between the chosen variables. The results show that nonrenewable energy
use and economic expansion have a beneficial impact on CO2 emissions. Additionally,
the results show that the growth of the insurance market has a favorable impact on
Turkey's carbon emission levels; this conclusion is also supported by the economic
growth channel. The findings of this study indicated that Turkish policy makers should
adopt strategies and regulations to guarantee the sustainable growth of insurance
markets, to lessen environmental damage by funding projects, and to invest in clean
energy sources.
Keywords: CO2 Emission, Bootstrap ARDL, Energy, Insurance Market Development,
Turkey.