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Enerji Bağımlılığı ve Ekonomik Büyüme

Year 2018, Volume: 2 Issue: 1, 189 - 210, 03.06.2018

Ayşe Sevencan

Abstract

Avrupa
ekonomilerinin enerji arzındaki dışa bağımlılığı, bölgenin önemli sorunlarından
biridir. Avrupa Komitesi ve Dünya Bankası’nın iklim politikalarında, enerji
kaynaklarının yenilenebilir enerjiler kullanılması ile çeşitlendirilmesi esas
alınmaktadır. Enerji üretim için ana girdilerdendir ve ekonomik büyüme için
elzemdir. Bu çalışma, konuya farklı bir açıdan bakarak enerjinin verimli
kullanılmasının bölge ekonomilerine etkisini gözlemlemiştir. GMM metodu
kullanılarak 1990-2015 yılları arasında 49 Avrupa ve Milletler Topluluğu
ülkeleri ekonomisinin büyümesinde enerji verimliliğinin etkisi tahmin
edilmiştir. Yapılan çalışmaya göre verimlilik göz önüne alındığında enerji ithalatçısı
olmanın ekonomik büyümeye etkisi neredeyse sıfıra yaklaşmıştır. Verimlilik kontrol
edildiğinde enerji tüketiminin büyümeye etkisi 10 katına kadar artmaktadır,
çalışma sonuçları istatistiksel olarak anlamlıdır.

Keywords

Ekonomik Büyüme Enerji Avrupa Panel Analizi Enerji Bağımlılığı

References

  • Al-Iriani, M. A. (2006). Energy–GDP relationship revisited: An example from GCC countries using panel causality. Energy Policy, 34(17), 3342–3350. https://doi.org/10.1016/j.enpol.2005.07.005
  • Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth in Central America: Evidence from a panel cointegration and error correction model. Energy Economics, 31(2), 211–216. https://doi.org/10.1016/j.eneco.2008.09.002
  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297.
  • Benhabib, J., & Spiegel, M. (1997). Cross-Country Growth Regressions (Working Paper). C.V. Starr Center for Applied Economics, New York University. Retrieved from https://econpapers.repec.org/paper/cvsstarer/97-20.htm
  • Benhabib, J., & Spiegel, M. M. (2000). The Role of Financial Development in Growth and Investment. Journal of Economic Growth, 5(4), 341–360. https://doi.org/10.1023/A:1026599402490
  • Chen, J., & Galbraith, J. K. (2011). Institutional structures and policies in an environment of increasingly scarce and expensive resources: a fixed cost perspective. Journal of Economic Issues, 45(2), 301–308.
  • Cheng, B. S. (1995). An investigation of cointegration and causality between energy consumption and economic growth. The Journal of Energy and Development, 21(1), 73–84.
  • Damette, O., & Seghir, M. (2013). Energy as a driver of growth in oil exporting countries? Energy Economics, 37, 193–199. https://doi.org/10.1016/j.eneco.2012.12.011
  • Easterly, W., Loayza, N., & Montiel, P. (1997). Has Latin America’s post-reform growth been disappointing? Journal of International Economics, 43(3), 287–311. https://doi.org/10.1016/S0022-1996(97)00004-4
  • Esseghir, A., & Haouaoui Khouni, L. (2014). Economic growth, energy consumption and sustainable development: The case of the Union for the Mediterranean countries. Energy, 71, 218–225. https://doi.org/10.1016/j.energy.2014.04.050
  • European Comission. (2015). A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy (No. COM/2015/080 final). Energy Union.
  • Eurostat. (n.d.). Database. Retrieved April 1, 2018, from http://ec.europa.eu/eurostat/data/database
  • He, Y., Li, D., & Li, Y. (2007). Research on the cointegration relationship of energy consumption and economy growth in Beijing. WSEAS Transactıons On Environment and Development, 3(9), 165–170.
  • Holtz-Eakin, D., Newey, W., & Rosen, H. S. (1988). Estimating Vector Autoregressions with Panel Data. Econometrica, 56(6), 1371–1395. https://doi.org/10.2307/1913103
  • Hondroyiannis, G., Lolos, S., & Papapetrou, E. (2002). Energy consumption and economic growth: assessing the evidence from Greece. Energy Economics, 24(4), 319–336. https://doi.org/10.1016/S0140-9883(02)00006-3
  • Hou, Q. (2009). The Relationship between Energy Consumption Growths and Economic Growth in China. International Journal of Economics and Finance, 1(2), 232. https://doi.org/10.5539/ijef.v1n2p232
  • Huang, B.-N., Hwang, M. J., & Yang, C. W. (2008). Causal relationship between energy consumption and GDP growth revisited: A dynamic panel data approach. Ecological Economics, 67(1), 41–54. https://doi.org/10.1016/j.ecolecon.2007.11.006
  • Hwang, D. B. K., & Gum, B. (1991). The causal relationship between energy and GNP: the case of Taiwan. The Journal of Energy and Development, 16(2), 219–226.
  • Kraft, J., & Kraft, A. (1978). On the Relationship Between Energy and GNP. The Journal of Energy and Development, 3(2), 401–403.
  • Lee, C.-C. (2005). Energy consumption and GDP in developing countries: A cointegrated panel analysis. Energy Economics, 27(3), 415–427. https://doi.org/10.1016/j.eneco.2005.03.003
  • Lee, C.-C., & Chang, C.-P. (2005). Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan. Energy Economics, 27(6), 857–872. https://doi.org/10.1016/j.eneco.2005.08.003
  • Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of Monetary Economics, 46(1), 31–77. https://doi.org/10.1016/S0304-3932(00)00017-9
  • Mahadevan, R., & Asafu-Adjaye, J. (2007). Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries. Energy Policy, 35(4), 2481–2490. https://doi.org/10.1016/j.enpol.2006.08.019
  • Mehrara, M. (2007). Energy consumption and economic growth: The case of oil exporting countries. Energy Policy, 35(5), 2939–2945. https://doi.org/10.1016/j.enpol.2006.10.018
  • Narayan, P. K., & Smyth, R. (2008). Energy consumption and real GDP in G7 countries: New evidence from panel cointegration with structural breaks. Energy Economics, 30(5), 2331–2341. https://doi.org/10.1016/j.eneco.2007.10.006
  • Ozturk, I. (2010). A literature survey on energy–growth nexus. Energy Policy, 38(1), 340–349. https://doi.org/10.1016/j.enpol.2009.09.024
  • Paul, S., & Bhattacharya, R. N. (2004). Causality between energy consumption and economic growth in India: a note on conflicting results. Energy Economics, 26(6), 977–983. https://doi.org/10.1016/j.eneco.2004.07.002
  • Sargan, J. D. (1958). The Estimation of Economic Relationships using Instrumental Variables. Econometrica, 26(3), 393–415. https://doi.org/10.2307/1907619
  • Solarin, S. A., & Shahbaz, M. (2015). Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia. Renewable and Sustainable Energy Reviews, 42, 835–845. https://doi.org/10.1016/j.rser.2014.10.075
  • Vlahinić-Dizdarević, N., & Žiković, S. (2010). The role of energy in economic growth: the case of Croatia*. Zb. Rad. Ekon. Fak. Rij., 28(1), 35–60.
  • Yu, E. S. H., & Hwang, B.-K. (1984). The relationship between energy and GNP: Further results. Energy Economics, 6(3), 186–190. https://doi.org/10.1016/0140-9883(84)90015-X
  • Yu, E. S. H., & Jin, J. C. (1992). Cointegration tests of energy consumption, income, and employment. Resources and Energy, 14(3), 259–266. https://doi.org/10.1016/0165-0572(92)90010-E
  • Zamani, M. (2007). Energy consumption and economic activities in Iran. Energy Economics, 29(6), 1135–1140. https://doi.org/10.1016/j.eneco.2006.04.008
  • Zhang, X.-P., & Cheng, X.-M. (2009). Energy consumption, carbon emissions, and economic growth in China. Ecological Economics, 68(10), 2706–2712. https://doi.org/10.1016/j.ecolecon.2009.05.011

Energy Dependence and Economic Growth

Year 2018, Volume: 2 Issue: 1, 189 - 210, 03.06.2018

Ayşe Sevencan

Abstract

European economies’ dependence on imported energy supply is one of the main problems of the region
within the last 50 years. European Commission along with the World Bank
emphasizes the importance of the diversification of the energy sources to renewable energy through the Climate Policies. This paper focuses on the possible solution of
energy supply dependence of the region through the use of energy
productively. Energy is one of the leading inputs in production and
essential for the economic growth. The attempt in this paper is to
examine how much of use of energy efficiently in production would effect
this relationship. Standardized General Methods of Movements method is used for econometric analysis for the 1990-2015 period for 49 European and Commonwealth countries.
Findings in this study suggests that, when controlled for productivity
being an importer does not affect the economic performance of these
countries. Further, energy productivity by itself significantly improves the economic performance.

Keywords

Economic Growth Energy Europe Panel Analysis Energy Dependence

References

  • Al-Iriani, M. A. (2006). Energy–GDP relationship revisited: An example from GCC countries using panel causality. Energy Policy, 34(17), 3342–3350. https://doi.org/10.1016/j.enpol.2005.07.005
  • Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth in Central America: Evidence from a panel cointegration and error correction model. Energy Economics, 31(2), 211–216. https://doi.org/10.1016/j.eneco.2008.09.002
  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297.
  • Benhabib, J., & Spiegel, M. (1997). Cross-Country Growth Regressions (Working Paper). C.V. Starr Center for Applied Economics, New York University. Retrieved from https://econpapers.repec.org/paper/cvsstarer/97-20.htm
  • Benhabib, J., & Spiegel, M. M. (2000). The Role of Financial Development in Growth and Investment. Journal of Economic Growth, 5(4), 341–360. https://doi.org/10.1023/A:1026599402490
  • Chen, J., & Galbraith, J. K. (2011). Institutional structures and policies in an environment of increasingly scarce and expensive resources: a fixed cost perspective. Journal of Economic Issues, 45(2), 301–308.
  • Cheng, B. S. (1995). An investigation of cointegration and causality between energy consumption and economic growth. The Journal of Energy and Development, 21(1), 73–84.
  • Damette, O., & Seghir, M. (2013). Energy as a driver of growth in oil exporting countries? Energy Economics, 37, 193–199. https://doi.org/10.1016/j.eneco.2012.12.011
  • Easterly, W., Loayza, N., & Montiel, P. (1997). Has Latin America’s post-reform growth been disappointing? Journal of International Economics, 43(3), 287–311. https://doi.org/10.1016/S0022-1996(97)00004-4
  • Esseghir, A., & Haouaoui Khouni, L. (2014). Economic growth, energy consumption and sustainable development: The case of the Union for the Mediterranean countries. Energy, 71, 218–225. https://doi.org/10.1016/j.energy.2014.04.050
  • European Comission. (2015). A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy (No. COM/2015/080 final). Energy Union.
  • Eurostat. (n.d.). Database. Retrieved April 1, 2018, from http://ec.europa.eu/eurostat/data/database
  • He, Y., Li, D., & Li, Y. (2007). Research on the cointegration relationship of energy consumption and economy growth in Beijing. WSEAS Transactıons On Environment and Development, 3(9), 165–170.
  • Holtz-Eakin, D., Newey, W., & Rosen, H. S. (1988). Estimating Vector Autoregressions with Panel Data. Econometrica, 56(6), 1371–1395. https://doi.org/10.2307/1913103
  • Hondroyiannis, G., Lolos, S., & Papapetrou, E. (2002). Energy consumption and economic growth: assessing the evidence from Greece. Energy Economics, 24(4), 319–336. https://doi.org/10.1016/S0140-9883(02)00006-3
  • Hou, Q. (2009). The Relationship between Energy Consumption Growths and Economic Growth in China. International Journal of Economics and Finance, 1(2), 232. https://doi.org/10.5539/ijef.v1n2p232
  • Huang, B.-N., Hwang, M. J., & Yang, C. W. (2008). Causal relationship between energy consumption and GDP growth revisited: A dynamic panel data approach. Ecological Economics, 67(1), 41–54. https://doi.org/10.1016/j.ecolecon.2007.11.006
  • Hwang, D. B. K., & Gum, B. (1991). The causal relationship between energy and GNP: the case of Taiwan. The Journal of Energy and Development, 16(2), 219–226.
  • Kraft, J., & Kraft, A. (1978). On the Relationship Between Energy and GNP. The Journal of Energy and Development, 3(2), 401–403.
  • Lee, C.-C. (2005). Energy consumption and GDP in developing countries: A cointegrated panel analysis. Energy Economics, 27(3), 415–427. https://doi.org/10.1016/j.eneco.2005.03.003
  • Lee, C.-C., & Chang, C.-P. (2005). Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan. Energy Economics, 27(6), 857–872. https://doi.org/10.1016/j.eneco.2005.08.003
  • Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of Monetary Economics, 46(1), 31–77. https://doi.org/10.1016/S0304-3932(00)00017-9
  • Mahadevan, R., & Asafu-Adjaye, J. (2007). Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries. Energy Policy, 35(4), 2481–2490. https://doi.org/10.1016/j.enpol.2006.08.019
  • Mehrara, M. (2007). Energy consumption and economic growth: The case of oil exporting countries. Energy Policy, 35(5), 2939–2945. https://doi.org/10.1016/j.enpol.2006.10.018
  • Narayan, P. K., & Smyth, R. (2008). Energy consumption and real GDP in G7 countries: New evidence from panel cointegration with structural breaks. Energy Economics, 30(5), 2331–2341. https://doi.org/10.1016/j.eneco.2007.10.006
  • Ozturk, I. (2010). A literature survey on energy–growth nexus. Energy Policy, 38(1), 340–349. https://doi.org/10.1016/j.enpol.2009.09.024
  • Paul, S., & Bhattacharya, R. N. (2004). Causality between energy consumption and economic growth in India: a note on conflicting results. Energy Economics, 26(6), 977–983. https://doi.org/10.1016/j.eneco.2004.07.002
  • Sargan, J. D. (1958). The Estimation of Economic Relationships using Instrumental Variables. Econometrica, 26(3), 393–415. https://doi.org/10.2307/1907619
  • Solarin, S. A., & Shahbaz, M. (2015). Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia. Renewable and Sustainable Energy Reviews, 42, 835–845. https://doi.org/10.1016/j.rser.2014.10.075
  • Vlahinić-Dizdarević, N., & Žiković, S. (2010). The role of energy in economic growth: the case of Croatia*. Zb. Rad. Ekon. Fak. Rij., 28(1), 35–60.
  • Yu, E. S. H., & Hwang, B.-K. (1984). The relationship between energy and GNP: Further results. Energy Economics, 6(3), 186–190. https://doi.org/10.1016/0140-9883(84)90015-X
  • Yu, E. S. H., & Jin, J. C. (1992). Cointegration tests of energy consumption, income, and employment. Resources and Energy, 14(3), 259–266. https://doi.org/10.1016/0165-0572(92)90010-E
  • Zamani, M. (2007). Energy consumption and economic activities in Iran. Energy Economics, 29(6), 1135–1140. https://doi.org/10.1016/j.eneco.2006.04.008
  • Zhang, X.-P., & Cheng, X.-M. (2009). Energy consumption, carbon emissions, and economic growth in China. Ecological Economics, 68(10), 2706–2712. https://doi.org/10.1016/j.ecolecon.2009.05.011
There are 34 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Articles
Authors

Ayşe Sevencan

Publication Date June 3, 2018
Published in Issue Year 2018 Volume: 2 Issue: 1

Cite

APA Sevencan, A. (2018). Energy Dependence and Economic Growth. Contemporary Research in Economics and Social Sciences, 2(1), 189-210.
AMA Sevencan A. Energy Dependence and Economic Growth. CONRESS. June 2018;2(1):189-210.
Chicago Sevencan, Ayşe. “Energy Dependence and Economic Growth”. Contemporary Research in Economics and Social Sciences 2, no. 1 (June 2018): 189-210.
EndNote Sevencan A (June 1, 2018) Energy Dependence and Economic Growth. Contemporary Research in Economics and Social Sciences 2 1 189–210.
IEEE A. Sevencan, “Energy Dependence and Economic Growth”, CONRESS, vol. 2, no. 1, pp. 189–210, 2018.
ISNAD Sevencan, Ayşe. “Energy Dependence and Economic Growth”. Contemporary Research in Economics and Social Sciences 2/1 (June 2018), 189-210.
JAMA Sevencan A. Energy Dependence and Economic Growth. CONRESS. 2018;2:189–210.
MLA Sevencan, Ayşe. “Energy Dependence and Economic Growth”. Contemporary Research in Economics and Social Sciences, vol. 2, no. 1, 2018, pp. 189-10.
Vancouver Sevencan A. Energy Dependence and Economic Growth. CONRESS. 2018;2(1):189-210.
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