Sürdürülebilir Kalkınma Amaçları
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- MakaleYalnız künye2026Economic and financial stability under uncertainty in the U.S.: insights from Fourier analysis
Polat, Mehmet Ali; Akbas, Yusuf Ekrem; Sancar, Canan; ŞİT, Ahmet
In the aftermath of the 2008 Global Financial Crisis, the occurrence of financial turmoil even in developed economies has sparked renewed debates on financial stability and caused the rise of the relevance of the variables employed to represent financial stability, which has gained increasing importance in the literature. This study investigates the impact of economic stability and uncertainty on financial stability in the United States over the period 1970 to 2022. Financial stability is proxied by the index developed by Owoundi, Mbassi, and Owoundi (2021), while economic stability is captured through the International Country Risk Guide (ICRG 2014) index. The relationship among the variables is examined using the Fourier methodology. The empirical findings reveal that economic stability exerts a positive influence on financial stability, whereas economic uncertainty negatively affects financial stability only in the long run. The causality analysis further indicates a unidirectional causal flow from economic stability and economic uncertainty to financial stability, in line with the coefficient estimates. Additionally, the results demonstrate bidirectional linkages between financial stability and economic stability.
- MakaleYalnız künye2026The Impact of Financial Stability, Globalization, and Economic Stability on Ecological Footprint From the Perspective of EKC Hypothesis: New Evidence From a Fourier Panel Data Analysis for BRICS-T Countries
Sancar, Canan; Akbaş, Yusuf Ekrem; Suluk, Seher; Atay Polat, Melike; Aslan, Alper
The Environmental Kuznets Curve hypothesis, which states that the increase in growth up to a certain income level increases environmental pollution and the increase in growth after reaching this income level decreases environmental pollution, has recently started to be investigated by including economic development and financial development in the framework of this hypothesis to better investigate the hypothesis. This study aims to investigate the impact of financial stability, economic stability, globalization, energy use, and growth on the ecological footprint in Brazil, Russia, India, China, South Africa, and Turkey. In addition, the Environmental Kuznets Curve hypothesis is also tested while examining this relationship. The Panel Fourier approach is applied to test these relationships in Brazil, Russia, India, China, South Africa, and Turkey over the period 1996–2022. The coefficient estimation results show that economic stability, economic globalization, growth, and energy use have a positive impact on the ecological footprint in Brazil, Russia, India, China, South Africa, and Turkey, but financial stability reduces the ecological footprint. Moreover, an inverted-N relationship was found between economic growth and pollution in these countries, which means that the Environmental Kuznets Curve is invalid in these countries in the relevant period. The results obtained from causality analysis support the results of coefficient estimation. Accordingly, a unidirectional causality was found from explanatory variables to the ecological footprint in most of Brazil, Russia, India, China, South Africa, and Turkey.