Sustainable development helps countries grow by giving importance to environmental, social, and governance factors. Therefore, sustainable development is essential for improving the well-being of societies and protecting our natural resources for the long term. This study focuses on the improvement of policy recommendations for achieving sustainable development. To this end, this research examines the impact of globalization, financial development, and capital formation on sustainable development in Türkiye for the period 1972–2022. The study employs the unit root, cointegration, and causality tests. The findings reveal that globalization, banking sector development, and fixed capital formation are cointegrated with environmental sustainability, namely the load capacity factor. In the short term, load capacity factor and globalization are the cause of each other. Also, an asymmetric relationship is determined between globalization and fixed capital formation and load capacity factor. However, the impact of globalization and fixed capital formation on environmental sustainability is distorting. The outcomes of this study implied that the policymaker should make appropriate policies regarding the improved about Türkiye’s environmental quality and sustainable development.
Erdaş et al. (Mon,) studied this question.
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