THE IMPACT OF RENEWABLE-NON-RENEWABLE ENERGY CONSUMPTION ON ECONOMİC GROWTH IN DEVELOPING COUNTRIES: HIDDEN COINTEGRATION APPROACH

Year 2023, Volume: 32 Issue: 2, 409 - 423, 23.10.2023

Servet Kapçak

https://doi.org/10.35379/cusosbil.1240166

Abstract

Energy has been one of the main factors that human beings have been dealing with since the early periods of human history.With the industrial revolution, its importance has increased and it has played an important role in the industrialization of countries. Energy, which is one of the main sources of sustainable growth, has not been evaluated as a production input by not being considered by traditional economic movements. However, after 1970, the economists in the ecological economics approach which is a new economic theory, evaluated energy as the primary source of economic growth. As a result of the exhaustible nature of non-renewable energy resources, which became crucial to every sector of the economy after the oil crisis, and their adverse effects on the environment, many countries have amended their energy policies and shifted towards renewable energy resources. These sources are abundant, clean, affordable, and environmentally friendly. In this study, the asymmetric relationship between renewable, nonrenewable energy consumption and economic growth in the selected mid-high income economies such as China, Peru, Indonesia, Thailand, Colombia, Ecuador and Brazil has been analysed over the period of 1965-2018. DF-GLS, KPSS and Ng-Perron unit root analyzed were performed and the variables were found to be stationary in the first difference. The long-term relationship between the variables was analyzed by using the hidden cointegration test, which is one of the new generation tests. Causality relations were examined by using asymmetric causality test based on crouching error-correction model. The relationship between the different components was determined in the sample group and appropriate policy proposals were presented.examined by using asymmetric causality test based on crouching error-correction model.

Keywords

economic growth, ecological economic, renewable/non-renewable energy consuption, hidden conıntegratıon, Rouching Error-Correction Model.

GELİŞMEKTE OLAN ÜLKELERDE YENİLENEBİLİR-YENİLENEMEYEN ENERJİ TÜKETİMİNİN EKONOMİK BÜYÜMEYE ETKİSİ: SAKLI EŞBÜTÜNLEŞME YAKLAŞIMI

Abstract

Enerji, ilk dönemlerden beri insanoğlunun ele aldığı temel faktörlerden biri olmuştur. Sanayi devrimiyle birlikte önemi artmış ve ülkelerin sanayileşmesinde önemli rol oynamıştır. Sürdürülebilir büyümenin temel kaynaklarından biri olan enerji, geleneksel ekonomi akımları tarafından dikkate alınmayarak bir üretim girdisi olarak görülmemiştir. Ancak 1970 yılından sonra yeni bir ekonomi teorisi olan ekolojik iktisat yaklaşımı iktisatçıları enerjiyi ekonomik büyümenin birincil kaynağı olarak görmüşlerdir. Meydana gelen petrol krizleriyle birlikte ekonominin her sektörü için önemli olan yenilemeyen enerji kaynaklarının tükenebilir olması ve ekolojik dengeyi bozması nedeniyle ülkeler enerji politikalarında değişime giderek tükenemeyen temiz, ucuz ve çevre dostu olan yenilenebilir enerji kaynaklarına yönelmişlerdir. Bu çalışmada yenilenebilir, yenilenemeyen enerji tüketimi ve ekonomik büyüme arasındaki asimetrik ilişki Çin, Peru, Endonezya, Tayland, Kolombiya, Ekvator, Brezilya ve Meksika gibi seçilmiş orta-yüksek gelirli ekonomilerde 1965-2018 dönemi itibariyle analiz edilmiştir. Değişkenlerin logaritmik değerlerinin DF-GLS, KPSS ve Ng-Perron birim kök analizleri yapılmış ve değişkenlerin birinci farkında durağan olduğu tespit edilmiştir. Değişkenler arasındaki uzun dönem ilişkisi yeni nesil testlerden biri olan saklı eşbütünleşme testi kullanılarak analiz edilmiştir. Uzun dönem katsayıları FMOLS tahmincisi kullanılarak, nedensellik ilişkileri de saklı hata düzeltme modeline dayalı asimetrik nedensellik testi ile incelenmiştir.

Keywords

ekonomik büyüme, ekolojik iktisat, yenilenebilir/yenilenemeyen enerji tüketimi, saklı eşbütünleşme yaklaşımı, saklı hata düzeltme modeli

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