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Öğe Eco-friendly technologies, international tourism and carbon emissions: Evidence from the most visited countries(Elsevier Science Inc, 2022) Erdoğan, Seyfettin; Gedikli, Ayfer; Çevik, Emrah İsmail; Erdogan, FatmaThe paper aims to examine the effects of international tourism on carbon emissions in the most visited countries using panel quantile regression for the periods 1995-2018. Since the primary source of carbon emissions from international tourism is transportation, we examine the moderating effect of eco-friendly innovations on the transportation sector for the relationship between international tourism and carbon emissions. Empirical results show that while international tourism led to an increase in carbon emissions between the fifth and ninth quantiles of carbon emissions, eco-friendly innovations for the transportation sector play an essential role in the effect of international tourism on carbon emissions. We find that the impact of improvements in eco-friendly technologies for transportation is significant on carbon emissions at all quantiles and that it eliminates the harmful effect of international tourism on environmental quality. These results are important for policy-makers to reduce carbon emissions from tourism because these countries have committed to reducing their carbon emissions according to the Paris Accord and the Sustainable Development Goals.Öğe Precious metals as safe-haven for clean energy stock investment: Evidence from nonparametric Granger causality in distribution test(Elsevier Sci Ltd, 2022) Erdoğan, Seyfettin; Gedikli, Ayfer; Çevik, Emrah İsmail; Erdogan, Fatma; Çevik, EmreThe study aims to examine the connectedness between clean energy stocks and precious metals prices under the different market episodes. We employ the Granger causality-in-the distribution test proposed by Candelon and Tokpavi (2016) to investigate the presence of a causality relationship between the variables for the whole dis-tribution because the test has superior power even if the sample size is small. WilderHill Clean Energy Index is considered a benchmark for the clean energy stock market and gold, silver, platinum, and palladium prices are used for the precious metals. By using daily data from January 1, 2001, to December 12, 2021, we find that there is a unidirectional causal link running from the clean energy stock returns to the precious metal prices in the center and the left tail of the distribution. On the other hand, there is strong feedback between the variables in the right tail of the distribution. These results show that clean energy stock prices have an edge in affecting precious metal prices and precious metals cannot be used to hedge the downside risk of clean energy stock investments.