RELATIONSHIP BETWEEN CONSUMPTION AND ECONOMIC GROWTH OF PRIMARY ENERGY RESOURCES: A PANEL DATA ANALYSIS FOR EU COUNTRIES AND TURKEY
Abstract
The aim of the study is to establish the short and long term relationship between
renewable energy consumption and economic growth rate in twenty-eight countries that are
members of the European Union for the period 2004-2014 and Turkey. Variables used in the
study were tested with Pesaran statistical analysis, followed by cointegration analysis according
to the structure of stability. Considering the results of cointegration, short and long term
relationships between variables are examined. Subsequently, Granger Causality was researched
between renewable energy consumption and economic growth. Our findings show that, there is
a one-way causality relationship from economic growth to renewable energy consumption,
while there is no causality relation from renewable energy consumption to economic growth.
References
- Sarı R, Ewing BT, Soytas U. The relationship between disaggregate energy consumption and industrial production in the United States: an ARDL approach. Energy Economics 2008;30:2302–13. Şentürk, İ., (2012) “ Kaynaklarına Göre Enerji Tüketiminin Ekonomik Büyümeye Etkileri”, Hacettepe Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı, Doktora Tezi, Ankara, s.31. Sorrell, S. ve Dimitropoulos J. (2007) “UKERC Review of Evidence for the Rebound Effect: Technical Report 5: Energy, productivity and economic growth studies”. UKERC Report UKERC/WP/TPA/2007/013. UKERC. Stern, D. (1998), A Multivariate Cointegration Analysis of the Role of Energy in the U.S Macroeconomy Working Papers in Ecological Economics Number 9803. Su, Liangjun; Zhang, Yonghui (2010). “Testing Cross-Sectional Dependence in Nonparametric Panel Data Models”. http://www.mysmu.edu/faculty/ljsu/Publications/testing%20crosssectional%20dependence%2 0in%20nonparametric%20panel%20data%20models20100912.pdf Tatoğlu, Ferda Yerdelen(2012). “İleri Panel Veri Analizi: Stata Uygulamalı”. Beta Basım, Yayım, Dağıtım. Tugcu CT, Ozturk I, Aslan A. Renewable and non-renewable energy consumption and economic growth relationship revisited: evidence from G7 countries. Energy Economics 2012;34:1942–50. Yu, E. S. H. ve J. C. Jin (1992) “Cointegration tests of energy consumption, income, and employment” Resources and Energy, 14: 259-266.
YENİLENEBİLİR ENERJİ TÜKETİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: AB ÜLKELERİ VE TÜRKİYE İÇİN BİR PANEL VERİ ANALİZİ
Abstract
Çalışmanın amacı, 2004-2014 dönemi için Avrupa Birliğine üye olan yirmi sekiz ülke
ve Türkiye’de yenilenebilir enerji tüketimi ve ekonomik büyüme oranı arasındaki kısa ve uzun
dönemdeki ilişkiyi ortaya koymaktır. Çalışmada kullanılan değişkenler Peseran durağanlık
analizi ile test edilmiş, ardından durağanlığın yapısına göre eşbütünleşme analizi yapılmıştır.
Eşbütünleşme sonuçları dikkate alınarak, değişkenler arasındaki kısa ve uzun dönem ilişki
incelenmiştir. Sonrasında yenilenebilir enerji tüketimi ve ekonomik büyüme arasında Granger
Nedensellik araştırılmıştır. Elde edilen bulgulara göre, yenilenebilir enerji tüketiminden
ekonomik büyümeye doğru nedensellik ilişkisi bulunmazken, ekonomik büyümeden
yenilenebilir enerji tüketimine doğru tek yönlü bir nedensellik ilişkisi mevcuttur.
References
- Sarı R, Ewing BT, Soytas U. The relationship between disaggregate energy consumption and industrial production in the United States: an ARDL approach. Energy Economics 2008;30:2302–13. Şentürk, İ., (2012) “ Kaynaklarına Göre Enerji Tüketiminin Ekonomik Büyümeye Etkileri”, Hacettepe Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı, Doktora Tezi, Ankara, s.31. Sorrell, S. ve Dimitropoulos J. (2007) “UKERC Review of Evidence for the Rebound Effect: Technical Report 5: Energy, productivity and economic growth studies”. UKERC Report UKERC/WP/TPA/2007/013. UKERC. Stern, D. (1998), A Multivariate Cointegration Analysis of the Role of Energy in the U.S Macroeconomy Working Papers in Ecological Economics Number 9803. Su, Liangjun; Zhang, Yonghui (2010). “Testing Cross-Sectional Dependence in Nonparametric Panel Data Models”. http://www.mysmu.edu/faculty/ljsu/Publications/testing%20crosssectional%20dependence%2 0in%20nonparametric%20panel%20data%20models20100912.pdf Tatoğlu, Ferda Yerdelen(2012). “İleri Panel Veri Analizi: Stata Uygulamalı”. Beta Basım, Yayım, Dağıtım. Tugcu CT, Ozturk I, Aslan A. Renewable and non-renewable energy consumption and economic growth relationship revisited: evidence from G7 countries. Energy Economics 2012;34:1942–50. Yu, E. S. H. ve J. C. Jin (1992) “Cointegration tests of energy consumption, income, and employment” Resources and Energy, 14: 259-266.
Details
| Journal Section | Makaleler |
|---|---|
| Authors | |
| Publication Date | July 30, 2017 |
| Submission Date | July 30, 2017 |
| Published in Issue | Year 2017 Volume: 4 Issue: 2 |