Elasticity of substitution between labor, capital and energy in turkey: Translog production function approach

Year 2019, , 114 - 137, 31.12.2019

Mehmet Songur

https://doi.org/10.18070/erciyesiibd.488045

Cited By: 1

Abstract

In addition to the
traditional production factors, one of the most needed production input in the
production process is energy. In particular, it is rather high the use of
traditional or primary energy sources in the production process. The aim of
this study is to predict the translog production function including energy
consumption for Turkey. For the analysis, it was utilized GDP, labor, capital,
natural gas, oil and coal data for 1982-2014 period. The prediction was made by
the Ridge Regression method. Findings show that the elasticity of substitution
between inputs is distributed at 1 level. Elasticities of output followed a positive
course throughout the period covered.

Keywords

Energy, Capital, Labour, Translog Production Function, Ridge Regression

Türkiye’de emek, sermaye ve enerji arasındaki ikame esnekliği: Translog üretim fonksiyonu yaklaşımı

Abstract

Geleneksel üretim
faktörlerinin yanı sıra üretim sürecinde en fazla ihtiyaç duyulan üretim
girdilerinden birisi de enerjidir. Özellikle geleneksel ya da birincil enerji
kaynaklarının üretim süreçlerinde kullanımı oldukça yoğundur. Bu çalışmanın
amacı, enerji tüketimini içeren Translog Üretim Fonksiyonu’nu Türkiye için
tahmin etmektir. Çalışmada 1982-2014 dönemine ait GSYH, emek, sermaye,
doğalgaz, petrol ve kömür verilerinden yararlanılmıştır. Söz konusu tahmin
Ridge Regresyon yöntemi ile gerçekleştirilmiştir. Elde edilen bulgular,
girdiler arası ikame esnekliklerinin 1 düzeyinde dağıldığını göstermektedir.
Çıktı esneklikleri ise, ele alınan dönem boyunca pozitif seyir izlemiştir.  

Keywords

Enerji, Sermaye, Emek, Translog Üretim Fonksiyonu, Ridge Regresyon

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