Purpose. This study aims to examine the relationship between human capital and environmental destruction. Methodology / approach. The analysis includes 56 years between 1961 and 2017 for 14 selected European countries. In the model established for the variables, the ecological footprint is used as the dependent variable, human capital and real national income per capita are used as independent variables. To select the appropriate test method in the analysis, we used the CADF panel unit root test, which considers the cross-sectional dependence. The Pooled Mean Group was used for model estimation. Results. In the study, it is emphasized that human capital has an important contribution to reducing the ecological footprint as an indicator of environmental pollution. According to the results of the PMG co-integration analysis, the increase in human capital reduces the ecological footprint in European countries. Since the European countries are developed ones, the availability of a good educational infrastructure is an important factor. It increases human capital. In addition, the high level of education and welfare in European countries is effective in increasing the number of environmentally sensitive individuals. This increases the environmental quality and therefore is an important factor in reducing the ecological footprint. Originality / scientific novelty. There are no studies in the literature examining the relationship between human capital and the ecological footprint of European countries. Therefore, this study closes a gap in the literature and takes its originality from the relationship between human capital and ecological footprint in European countries. Practical value / implications. The practical value of the results is that human capital reduces the ecological footprint by protecting natural resources, exhibiting a more environmentally friendly behavior, and realizing production that will minimize the damage to the environment.

Article HistoryReceived: 14 March 2018 Revised: 9 April 2018 Accepted: 11 April 2018 Published: 13 April 2018 KeywordsForeign direct investment Export Long-run causality Cross-section dependence Slope heterogeneity. JEL Classification:F10, F21, F23.Utilizing annual data from 1980-2015 for 19 developing economies of Asia, this study examines the causality relation between foreign direct investment and exports. According to the first part of Granger Causality results, China, Republic of Korea, Indonesia, Singapore and Turkey has causality from export to FDI at 1% significance level. Nepal, Sri Lanka, Philippines, Thailand and Oman has a causality from export to FDI at 5% significance level. Finally, it is possible to say that Bangladesh and India has a causality from export to FDI at 10% significance level, while the likelihood value is very close to the 5% significance value. According to the second part of the Granger causality relationship tests Sri Lanka, Indonesia and Turkey has a causality from FDI to export at 1% significance level, India, Nepal and Thailand has a causality from FDI to export at 5% significance level. Finally, the existence of a causality relationship from FDI to Export was found at 10% significance level in Hong Kong, Bangladesh, Singapore, Bahrain, Oman and Saudi Arabia. Briefly export led growth hypothesis is valid for developing economies of Asian countries. Contribution/ Originality: This study uses new estimation methodology to analyze causal relationshipbetween foreign direct investments and export which considering cross-section dependence and slope heterogeneity in addition to current literature.

Purpose. The aim of this study is to examine the relationship between economic globalization and the ecological footprint in countries with different levels of development using a Feasible Generalized Least Squares (FGLS) analysis. Methodology / approach. The study covers the years 1970 to 2017 for 65 developed and developing countries. The ecological footprint is the dependent variable in the study’s model, and the GDP and KOF Globalization Index (KOF) index are the independent variables. The CADF panel unit root test, which takes into account cross-sectional dependence, was used to choose the appropriate test method for the analysis. Feasible Generalised Least Square and Westerlund ECM panel cointegration analyses were performed for model estimation. Results. Economic globalization and ecological footprint have a considerable relationship, according to the results of FGLS and Westerlund cointegration analysis. Economic globalization has a long-run negative impact on the ecological footprint. Environmental problems are being addressed as a result of more economic globalization, faster technology development, and consequently decreased usage of natural resources. Furthermore, as globalization and communication technologies develop, societies will have more information on the importance of the environment. As a result, they can show more eco-friendly behavior. Originality / scientific novelty. Several studies in the literature include the cointegration relationship between economic globalization and ecological footprint. Although there are few studies on this topic in the literature, one aspect that distinguishes this study is the use of an estimation method that takes into account the cross-sectional dependent, second-generation unit root tests, FGLS cointegration analysis, and Westerlund ECM analysis. Practical value / implications. The importance of the findings is that increased economic globalization has a negative effect on the ecological footprint. As economic globalization increases, so does communication technology, as well as international trade. Individuals become more environmentally conscious as a result of communication, which generally reduces ecological footprint.

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Bu çalışmada 1983-2013 dönemine ait yıllık veriler kullanılarak, konsolide bütçe açıkları ve iç borçlanma ile dış borçlanma arasındaki ilişki VAR Granger nedensellik yöntemi ve Engle Granger Eşbütünleşme yöntemi kullanılarak analiz edilmiştir. Elde edilen bulgulara göre dış borç, bütçe giderlerinin nedenidir ve bütçe giderleri de iç borcun nedenidir. Diğer taraftan iç borç ve dış borç arasında iki yönlü bir nedensellik bulgusuna ulaşılmıştır. Analizde kullanılan değişkenler için yapılan Engle-Granger eşbütünleşme analizi değişkenler arasında uzun-dönemli bir ilişki olduğunu ortaya koymuştur.Anahtar Kelimeler: Bütçe Açıkları, Dış Borç, İç Borç, Granger Nedensellik ve Engle-Granger Eşbütünleşme. JEL Kodu: H5, H6 Consolidated Budget Deficit and The Relationship External Debt-Internal Debt: The Case of Turkey AbstractIn this study, the consolidated budget deficit and the relationship between external debt and internal debt was analyzed by using VAR Granger causality method and Engle-Granger cointegration method, for annual data including the 1983-2013 period. According to the findings, external debts cause budget expenditures and budget deficits cause internal debt. On the other hand there is bidirectional causality between external debt and internal debt. The Engle-Granger cointegration analysis indicates that there is a long run relationship between variables which are used in analysis.