Research Article
BibTex RIS Cite

Asymmetric Causality Relationship between Energy Consumption and Economic Growth: Sample of Selected Turkish Republics

Year 2020, Volume: 5 Issue: 2, 61 - 74, 27.12.2020

Ayhan Orhan , Muhammet Rıdvan İnce , Abdullah Açık

Abstract

The aim of this study was to investigate the causality relationship between energy consumption and GDP in 4 Turkish Republics including Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan. The relationship between the variables was analyzed by asymmetric causality tests for the period 1990 and 2018, unlike many studies in the literature. In conclusion, it was concluded that the Growth hypothesis was valid in Azerbaijan economy while the Feedback hypothesis was valid in Uzbekistan and Kazakhstan economies. The causality relationships obtained for Turkmenistan do not allow making a general conclusion from economic aspects.

Keywords

Turkic Republics Energy consumption Economic Growth Asymmetric Causality Hatemi-J

References

  • Abaidoo, R. (2011). Economic growth and energy consumption in an emerging economy: Augmented granger causality approach. Research in Business and Economics Journal, (4), 1-15.
  • Abosedra, S. & Baghestani H. (1989). New evidence on the casual relationship between united states energy consumption and gross national product. The Journal of Energy and Development, (14), 285-292.
  • Adom, P. (2011). Electricity consumption-economic growth nexus: The ghanaian case. International Journal of Energy Economics and Policy, (1), 18-31.
  • Ajmi, A., Montasser, G.E., & Nguyen, D.K. (2013). Testing the relationships between energy consumption and income in g7 countries with nonlinear causality tests. Economic Modelling, (35), 126-133
  • Akarca, A. & Long T. (1979). Energy and employment a time-series analysis of the casual relationship, Resource and Energy, (2), 151-162.
  • Akarca, A. & Long T. (1980). Notes and comments on the relationship between energy and gnp: A reexamination. The Journal of Energy and Development, (5), 326-331.
  • Alaali, F., Roberts, J., & Taylor, K. (2015). The effect of energy consumption and human capital on economic growth: An exploration of oil exporting and developed countries. Sheffield Economic Research Paper Series.
  • Al-Iriani, M. (2006). Energy–Gdp relationship revisited: An Example from GCC countries using panel causality. Energy Policy, (34), 3342-3350.
  • Altınay, G. & Karagol E. (2004). Structural break, unit root, and the causality between energy consumption and GDP In Turkey. Energy Economics, (26), 985-994.
  • Altınay, G. & Karagol E. (2005). Electricity consumption and economic growth: Evidence from Turkey. Energy Economics, (27), 849-856.
  • Altunbaş, Y. & Kapusuzoglu A. (2011). The causality between energy consumption and economic growth in United Kingdom. Economic Research-Ekonomska Istraživanja, (24), 60-67.
  • Ang, J. (2007). CO2 emissions, energy consumption, and output in France. Energy Policy, (35), 4772-4778.
  • Ang, J. (2008). Economic development, pollutant emissions and energy consumption in Malaysia. Journal of Policy Modeling, (30), 271-278.
  • Apergis, N. & Danuletiu D. (2012). Energy consumption and growth in Romania: Evidence from a panel error correction model. International Journal of Energy Economics and Policy, (2), 348-356.
  • Apergis, N. & Payne J. (2009). Energy consumption and economic growth: Evidence from the commonwealth of independent states. Energy Economics, (31), 641-647.
  • Aqeel, A. & Butt M. (2001). Asia-Pacific development journal. Asia-Pacific Development Journal, (8), 101-110.
  • Arbex, M. & Perobelli F. (2010). Solow meets leontief: Economic growth and energy consumption. Energy Economics, (32), 43-53.
  • Arora, V. & Shi S. (2016). "Energy Consumption And Economic Growth In The United States". Applied Economics, (39), 3763-3773
  • Asafu-Adjaye, J. (2000). The relationship between energy consumption, energy prices and economic growth: Time series evidence from Asian developing countries. Energy Economics, (22), 615-625.
  • Asghar, Z. (2008). Energy-Gdp relationship: A casual analysis for the five countries of South Asia. Applied Econometrics and International Development, (8), 167-180.
  • Aslan, A. (2013). Energy consumption and Gdp: The strong relationship in OECD countries. Energy Sources, Part B: Economics, Planning, and Policy, (8), 339-345.
  • Aslan, A., Apergis, N., & Yıldırım, S. (2001). Causality between energy consumption and Gdp in the U.S.: Evidence from wavelet analysis. Frontiers in Energy, (8), 1-8.
  • Baek, J. & Kim H. (2011). Trade liberalization, economic growth, energy consumption and the environment: Time series evidence from G-20 economies. Journal of East Asian Economic Integration, (15), 3-32.
  • Bal, I. (2018). Turkey's Relations with the West and the Turkic Republics: The Rise and Fall of the ‘Turkish Model’. USA: Routledge.
  • Belke, A., Dobnik, F., & Dreger, C. (2011). Energy consumption and economic growth: New insights into the cointegration relationship. Energy Economics, (33), 782-789.
  • Belloumi, M. (2009). Energy consumption and Gdp in Tunisia: Cointegration and causality analysis. Energy Policy, (37), 2745-2753.
  • Bildirici, M. & Türkmen C. (2015). Nonlinear causality between oil and precious metals. Resource Policy, (46), 202-211.
  • Binh, P. (2011). Energy consumption and economic growth in Vietnam: Threshold cointegration and causality analysis. International Journal of Energy Economics and Policy, (1), 1-17.
  • Bowden, N. & Payne J. (2009). The causal relationship between U.S. energy consumption and real output: A disaggregated analysis. Journal of Policy Modeling, (31), 180-188.
  • Brauer, B. (2004). Central Asia: The great game revisited. in: Reiter, E. and Hazdra, P. (Eds), The Impact of Asian Powers on Global Developments, 41-52. New York: Springer.
  • Brock, W., Scheinkman, J.A., Dechert, W.D., & LeBaron, B. (1987). A test for independence based on the correlation dimension.working paper. Department of economics. University of Wisconsin.
  • Campo, J. & Sarmiento V. (2013). The relationship between energy consumption and GDP: Evidence from a panel of Latin American countriesi Latin American Journal of Economics, (50), 233-255.
  • Chen, Y., Lotz-Inglesi, R., & Chang, T. (2017). Revisiting the asymmetric causal link between energy consumption and output in China: Focus on coal and oil consumption. Energy Sources, Part B: Economics, Planning, and Policy, (12), 992-100.
  • Cheng, B. (1995). An investigation of cointegration and causality between energy consumption and economic growth. The Journal of Energy and Development, (21), 73-84.
  • Cheng, B. (1999). Causality between energy consumption and economic growth in India: An application of cointegration and error-correction modeling. Indian Economic Review, (34), 39-49.
  • Chontanawat, J., Hunt, L.C., & Pierse, R. (2008). Does energy consumption cause economic growth?: Evidence from a systematic study of over 100 countries". Journal of Policy Modeling, (30), 209-220.
  • Cornell, S.E. (2011). Small nations and great powers: a study of ethnopolitical conflict in the Caucasus. New York: Routledge.
  • Çetintaş, H. (2016). Energy consumption and economic growth: The case of transition economies. Energy Sources, Part B: Economics, Planning, and Policy, (11), 267-273.
  • Destek, M. & Okumus I. (2017). Disaggregated energy consumption and economic growth in G-7 countries. Energy Sources, Part B: Economics, Planning, and Policy, (12), 808-814.
  • Dickey, D. & Fuller W. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, (74), 427-431.
  • Doğan, E., Seker, F., & Bulbul, S. (2017). Investigating the impacts of energy consumption, real GDP, tourism and trade on co2 emissions by accounting for cross-sectional dependence: A panel study of OECD countries. Current Issues in Tourism, (20), 1701-1719.
  • Ebohon, O. (1996). Energy, economic growth and causality in developing countries. Energy Policy, (24), 447-453.
  • Eddrief-Cherfi, S. & Kourbali B. (2012). Energy consumption and economic growth in Algeria: Cointegration and causality analysis. International Journal of Energy Economics and Policy, (2), 2146-4553.
  • Enders, W. & Lee J. (2012). A unit root test using a fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics, (74), 574-599.
  • Erdal, G., Erdal, H., & Esengün, K. (2008). The causality between energy consumption and economic growth in Turkey. Energy Policy, (36), 3838-3842.
  • Erol, Ü. & Yu E. (1987(a)). Time series analysis of the causal relationship between U.S. energy and employment. Resource and Energy, (9), 78-89.
  • Erol, Ü. & Yu E. (1987(b)). On the casual relationship between energy and income for industrialized countries. The Journal of Energy and Development, (13), 113-122.
  • Fatai, K., Oxley, L., & Scrimgeour, F.G. (2004). Modelling the causal relationship between energy consumption and Gdp in New Zealand, Australia, India, Indonesia, The PhilippInes and Thailand. Mathematics and Computers in Simulation, 64, 431-445.
  • Ghali, K. & El-Sakka M. (2004). Energy use and output growth in Canada: A multivariate cointegration analysis. Energy Economics, 26, 225-238.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India. Energy Policy, 30, 125-129.
  • Glasure, Y. & Lee A. (1997). Cointegration, error-correction, and therrelationship between GDP and energy: The case of South Korea and SIngapore. Resource and Energy Economics, (20), 17-25.
  • Glasure, Y. (2002). Energy and national income in Korea: Further evidence on the role of omitted variables. Energy Economics, (24), 355-365.
  • Halicioglu, F. (2009). An econometric study of CO2 emissions, energy consumption, income and foreign trade in Turkey. Energy Policy, (37), 1156-1164.
  • Hatemi-J, A. & Irandoust M. (2005). Energy consumption and economic growth in Sweeden: A leveraged bootstrap. International Journal of Applied Econometrics and Quantitative Studies, (2), 87-98.
  • Hatemi-J, A. & Uddin G. (2012). Is the causal nexus of energy utilization and economic growth asymmetric in the US?. Economic System, (36), 461-469.
  • Hatemi-J, A. (2012a). Asymmetric causality tests with an application. Empirical Economics, (43), 447-456.
  • Hatemi-J, A. (2012b). "s The Uae stock market integrated with the Usa stock market? New Evidence from asymmetric causality testing. Research in International Business and Finance, (26), 273-280.
  • Ho, C. & Siu K. (2007). A dynamic equilibrium of electricity consumption and GDP in Hong Kong: An empirical investigatio". Energy Policy, (35), 2507-2513.
  • Hoa, T. (1993). Effects of oil output growth and inflation in developing countries: The case of Thailand from january 1996 to january 1991. International Journal of Energy and Research, (17), 29-33.
  • Hondroyiannis, G., Lolos, S., & Papapetrou, E. (2002). Energy consumption and economic growth: Assessing the evidence from Greece. Energy Economics, (24), 319-336.
  • Hu, J. & Lin C. (2008). Disaggregated energy consumption and Gdp in Taiwan: A threshold co-integration analysis. Energy Economics, (30), 2342-2358.
  • Huang, B., Hwang, M.J., & Yang, C.W. (2008). Causal relationship between energy consumption and GDP growth revisited: A dynamic panel data approach. Ecological Economics, (67), 41-54.
  • Hwang, D. & Gum B. (1991). The casual relationship between energy and Gnp: The case of Taiwan. The Journal of Energy and Development, (16), 219-226.
  • Jobert, T. & Karanfil F. (2007). Sectoral energy consumption by source and economic growth in Turkey. Energy Policy, (35), 5447-5456.
  • Joe, Y. & Kim, C.S (2014). Energy consumption, CO2 emission, and economic growth: Evidence from Chile. International Journal of Green Energy, (12), 543-550.
  • Kalyoncu, H., Gürsoy, F., & Göcen, H. (2013). Causality relationship between GDP and energy consumption in Georgia, Azerbaijan And Armenia. International Journal of Energy Economics and Policy, (3), 111-117.
  • Kapusuzoğlu, A. & Karan M. (2010). Gelismekte olan ülkelerde elektrik tüketimi ile gayri safi yurt içi hasıla (GSYİH) arasındaki eş-bütünleşme ve nedensellik ilişkisinin analizi: Türkiye üzerine ampirik bir çalısma. İsletme ve Ekonomi Araştırmaları Dergisi, (1), 57-68.
  • Karanfil, F. (2008). Energy consumption and economic growth revisited: Does the size of unrecorded economy matter?". Energy Policy, (36), 3029-3035.
  • Kraft, J. & Kraft A. (1978). On the relationship between energy and GNP. The Journal of Energy and Development, (3), 401-403.
  • Lee, C. & Chang C. (2005). Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan". Energy Economics, (27), 857-872.
  • Lee, C. & Chang C. (2007). The impact of energy consumption on economic growth: Evidence from linear and nonlinear models in Taiwan. Energy, (32), 2282-2294.
  • Lee, C. & Lee J. (2010). Panel data analysis of the demand for total energy and electricity in Oecd countries. The Energy Journal, (31), 1-23.
  • Lee, C. (2005). Energy consumption and Gdp in developing countries: A cointegrated panel analysis. Energy Economics, (27), 415-427.
  • Lise, W. & Montfort K. (2007). Energy consumption and Gdp in Turkey: Is there a co‐integration relationship?". Energy Economics, (29), 1166-1178.
  • Ljung, G. & Box G. (1978). On a measure of lack of fit in time series models. Biometrika, (65), 297-303.
  • Magazzino, C. (2016). "The Relationship Between Co2 Emissions, Energy Consumption and Economic Growth In Italy". International Journal of Sustainable Energy, (35), 844-857.
  • Masih, A. & Masih R. (1996). Energy consumption, real income and temporal causality: Results from a multi-country study based on cointegration and error-correction modelling techniques. Energy Economics, (18), 165-183.
  • Masih, A. & Masih R. (1997). On the temporal causal relationship between energy consumption, real income, and prices: Some new evidence from Asian-Energy dependent nics based on a multivariate cointegrationnector error-correction approach. Journal of Policy Modeling, (19), 417-440.
  • Mehrara, M. (2007). Energy consumption and economic growth: The case of oil exporting countries. Energy Policy, (35), 2939-2945.
  • Meidani, A. & Zabihi M. (2014). Energy consumption and real GDP in Iran. International Journal of Energy Economics and Policy, (4), 15-25.
  • Morimoto, R. & Hope C. (2004). The impact of electricity supply on economic growth in Sri Lanka. Energy Economics, (26), 77-85.
  • Mozumder, P. & Marathe A. (2007). Causality relationship between electricity consumption and Gdp in Bangladesh. Energy Policy, (35), 395-402.
  • Mudarissov, B. & Lee Y. (2014). "The Relationship Between Energy Consumption and Economic Growth In Kazakhstan". Geosystem Engineering, (14), 63-68
  • Narayan, P. & Smyth R. (2008). Energy consumption and real Gdp in G7 countries: New evidence from panel cointegration with structural breaks. Energy Economics, (30), 2331-2341.
  • Nayan, S., Kadir, N., Ahmad, M., & Abdullah, M.S. (2013). RevisitIng energy consumption and Gdp: Evidence from dynamic panel data analysis. Procedia Economics and Finance, (7), 42-47.
  • Odhiambo, N. (2009). Energy consumption and economic growth nexus in Tanzania: An ARDL bounds testing approach". Energy Policy, (37), 617-622.
  • Oh, W. & Lee K. (2004). Causal relationship between energy consumption and Gdp revisited: The case Ofkor Ea 1970–1999. Energy Economics, (26), 51-59.
  • Öztürk, F. (2017). Energy consumption–GDP causality in mena countries. Energy Sources, Part B: Economics, Planning, and Policy, (12), 231-236.
  • Öztürk, İ., Asln, A., & Kalyoncu, H. (2010). Energy consumption and economic growth relationship: Evidence from panel data for lown and middleincome countries. Energy Policy, (38), 4422-4428.
  • Paul, S. & Bhattacharya R. (2004). Causality between energy consumption and economic growth in India: A note on conflicting results. Energy Economics, (26), 977-983.
  • Payne, J. (2009). On the dynamics of energy consumption and output in the US. Applied Energy, (86), 575-577.
  • Rezitis, A. & Ahammad S. (2015). the relationship between energy consumption and economic growth in South And Southeast Asian countries: A panel vector autoregression approach and causality analysis. International Journal of Energy Economics and Policy, (5), 704-714.
  • Shahbaz, M., Hoang, T.H.V., Mahalik, M.T., & Roubaud, D. (2017). Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis. Energy Economics, (63), 199-212.
  • Shahbaz, M., Mutascu, M., & Azim, P. (2013). Environmental kuznets curve in romania and the role of energy consumption. Renewable and Sustainable Energy Reviews, (18), 165-173.
  • Sharma, S. (2010). The relationship between energy and economic growth: Empirical evidence from 66 countries. Applied Energy, (87), 3565-3574.
  • Shiu, A. & Lam P. (2004). Electricity consumption and economic growth in China. Energy Policy, (32), 47-57.
  • Soares, J., Kim, Y.K., & Heo, E. (2014). Analysis of causality between energy consumption and economic growth in Indonesia. Geosystem Engineering, (17), 58-62.
  • Soytas, U. & Sari R. (2009). Energy consumption, economic growth, and carbon emissions: Challenges faced by an EU candidate member. Ecological Economics, (68), 1667-1675.
  • Soytaş, U. & Sarı R. (2003). Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Economics, (25), 33-37.
  • Soytaş, U., Sari, R., & Özdemir, Ö. (2001). Energy consumption and GDP relations in Turkey: a cointegration and vector error correction analysis. Economies and Business in Transition: Facilitating Competitiveness and Change in the Global Environment Proceedings, (1), 838-844.
  • Stern, D. (1993). energy and economic growth in the Usa: A multivariate approach. Energy Economics, (15), 137-150.
  • Toda, H. & Yamamoto T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, (66), 225-250.
  • Tuğcu, C. & Topcu M. (2018). Total, renewable and non-renewable energy consumption and economic growth: Revisiting the issue with an asymmetric point of view. Energy, (152), 64-74.
  • Tuğcu, C., Özturk, İ., & Aslan, A. (2012). Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics, (34), 1942-1950.
  • Umar, M. & Dahalan J. (2016). An application of asymmetric toda-yamamoto causality on exchange rate-inflation differentials in emerging economies. International Journal of Economics and Financial Issues, (6), 420-426.
  • Wolde-Rufael, Y. (2004). Disaggregated industrial energy consumption and Gdp: The case of Shanghai, 1952-1999. Energy Economics, (26), 69-75.
  • Yakubu, M. & Jelilov G. (2017). Effect of energy consumption on Gdp Evidence from (Ten) Sub-Saharan Africa countries. Nile Journal of Business and Economics, (5), 3-14.
  • Yang, H. (2000). A note on the causal relationship between energy and GDP in Taiwan. Energy Economics, (22), 309-317.
  • Yoo, S. (2005). Electricity consumption and economic growth: Evidence from Korea. Energy Policy, (33), 1627-1632.
  • Yoo, S. (2006). The causal relationship between electricity consumption and economic growth in the Asean Countries. Energy Policy, (34), 3573-3582.
  • Yu, E. & Choi J. (1985). The casual relationship between energy and GNP: An international comparison. The Journal of Energy and Development, (10), 249-272.
  • Yu, E. & Hwang B. (1984). The relationship between energy and Gnp: Further results. Energy Economics, (6), 186-190.
  • Yu, E. & Jin J. (1992). CoIntegration tests of energy consumption, income and employment. Resource and Energy, (14), 259-266
  • Yuan, C., Liu, S., Fang, Z., & Xie, N. (2010). The relation between Chinese economic development and energy consumption in the different periods. Energy Policy, (38), 5189-5198.
  • Yücel, V. and Ruysdael, S. (2002). New Trends in Turkish Foreign Affairs: Bridges and Boundaries. New York: Writers Club Press.
  • Zachariadis, T. & Pashourtidou N. (2007). An empirical analysis of electricity consumption in Cyprus. Energy Economics, (29), 183-198.
  • Zamani, M. (2007). energy consumption and economic activities in Iran. Energy Economics, (29), 1135-1140.
  • Zeshan, M. & Ahmed V. (2013). Energy consumption and economic growth in Pakistan. Bulletin of Energy Economics, (1), 8-20.
  • Zhang, X. & Cheng X. (2009). Energy consumption, carbon emissions, and economic growth in China. Ecological Economics, (68), 2706-2712.
  • Zou, G. & Chau K. (2006). Short- and long-run effects between oil consumption and economic growth in China. Energy Policy, (34), 3644-3655.

Enerji Tüketimi ve Ekonomik Büyüme Arasındaki Asimetrik Nedensellik İlişkisi: Seçilmiş Türk Cumhuriyetleri Örneği

Year 2020, Volume: 5 Issue: 2, 61 - 74, 27.12.2020

Ayhan Orhan , Muhammet Rıdvan İnce , Abdullah Açık

Abstract

Bu çalışmanın amacı Azerbaycan, Kazakistan, Türkmenistan ve Özbekistan olmak üzere 4 adet Türk Cumhuriyetinde enerji kullanımı ile GSYİH arasındaki nedensellik ilişkisinin incelenmesidir. Değişkenler arasındaki ilişkisi, 1990 – 2018 dönemi için, literatürde yer alan birçok çalışmadan farklı olarak asimetrik nedensellik testleri ile analiz edilmiştir. Sonuç olarak Azerbaycan ekonomisinde “büyüme hipotezinin” Özbekistan ve Kazakistan ekonomilerinde ise “geri besleme” hipotezinin geçerli olduğu sonucuna varılmıştır. Türkmenistan için ise elde edilen nedensellik ilişkileri, iktisadi açından genel bir çıkarım yapılmasına izin vermemektedir.

Keywords

Türk Cumhuriyetleri Enerji tüketimi Ekonomik Büyüme Asimetrik Nedensellik Hatemi-J

References

  • Abaidoo, R. (2011). Economic growth and energy consumption in an emerging economy: Augmented granger causality approach. Research in Business and Economics Journal, (4), 1-15.
  • Abosedra, S. & Baghestani H. (1989). New evidence on the casual relationship between united states energy consumption and gross national product. The Journal of Energy and Development, (14), 285-292.
  • Adom, P. (2011). Electricity consumption-economic growth nexus: The ghanaian case. International Journal of Energy Economics and Policy, (1), 18-31.
  • Ajmi, A., Montasser, G.E., & Nguyen, D.K. (2013). Testing the relationships between energy consumption and income in g7 countries with nonlinear causality tests. Economic Modelling, (35), 126-133
  • Akarca, A. & Long T. (1979). Energy and employment a time-series analysis of the casual relationship, Resource and Energy, (2), 151-162.
  • Akarca, A. & Long T. (1980). Notes and comments on the relationship between energy and gnp: A reexamination. The Journal of Energy and Development, (5), 326-331.
  • Alaali, F., Roberts, J., & Taylor, K. (2015). The effect of energy consumption and human capital on economic growth: An exploration of oil exporting and developed countries. Sheffield Economic Research Paper Series.
  • Al-Iriani, M. (2006). Energy–Gdp relationship revisited: An Example from GCC countries using panel causality. Energy Policy, (34), 3342-3350.
  • Altınay, G. & Karagol E. (2004). Structural break, unit root, and the causality between energy consumption and GDP In Turkey. Energy Economics, (26), 985-994.
  • Altınay, G. & Karagol E. (2005). Electricity consumption and economic growth: Evidence from Turkey. Energy Economics, (27), 849-856.
  • Altunbaş, Y. & Kapusuzoglu A. (2011). The causality between energy consumption and economic growth in United Kingdom. Economic Research-Ekonomska Istraživanja, (24), 60-67.
  • Ang, J. (2007). CO2 emissions, energy consumption, and output in France. Energy Policy, (35), 4772-4778.
  • Ang, J. (2008). Economic development, pollutant emissions and energy consumption in Malaysia. Journal of Policy Modeling, (30), 271-278.
  • Apergis, N. & Danuletiu D. (2012). Energy consumption and growth in Romania: Evidence from a panel error correction model. International Journal of Energy Economics and Policy, (2), 348-356.
  • Apergis, N. & Payne J. (2009). Energy consumption and economic growth: Evidence from the commonwealth of independent states. Energy Economics, (31), 641-647.
  • Aqeel, A. & Butt M. (2001). Asia-Pacific development journal. Asia-Pacific Development Journal, (8), 101-110.
  • Arbex, M. & Perobelli F. (2010). Solow meets leontief: Economic growth and energy consumption. Energy Economics, (32), 43-53.
  • Arora, V. & Shi S. (2016). "Energy Consumption And Economic Growth In The United States". Applied Economics, (39), 3763-3773
  • Asafu-Adjaye, J. (2000). The relationship between energy consumption, energy prices and economic growth: Time series evidence from Asian developing countries. Energy Economics, (22), 615-625.
  • Asghar, Z. (2008). Energy-Gdp relationship: A casual analysis for the five countries of South Asia. Applied Econometrics and International Development, (8), 167-180.
  • Aslan, A. (2013). Energy consumption and Gdp: The strong relationship in OECD countries. Energy Sources, Part B: Economics, Planning, and Policy, (8), 339-345.
  • Aslan, A., Apergis, N., & Yıldırım, S. (2001). Causality between energy consumption and Gdp in the U.S.: Evidence from wavelet analysis. Frontiers in Energy, (8), 1-8.
  • Baek, J. & Kim H. (2011). Trade liberalization, economic growth, energy consumption and the environment: Time series evidence from G-20 economies. Journal of East Asian Economic Integration, (15), 3-32.
  • Bal, I. (2018). Turkey's Relations with the West and the Turkic Republics: The Rise and Fall of the ‘Turkish Model’. USA: Routledge.
  • Belke, A., Dobnik, F., & Dreger, C. (2011). Energy consumption and economic growth: New insights into the cointegration relationship. Energy Economics, (33), 782-789.
  • Belloumi, M. (2009). Energy consumption and Gdp in Tunisia: Cointegration and causality analysis. Energy Policy, (37), 2745-2753.
  • Bildirici, M. & Türkmen C. (2015). Nonlinear causality between oil and precious metals. Resource Policy, (46), 202-211.
  • Binh, P. (2011). Energy consumption and economic growth in Vietnam: Threshold cointegration and causality analysis. International Journal of Energy Economics and Policy, (1), 1-17.
  • Bowden, N. & Payne J. (2009). The causal relationship between U.S. energy consumption and real output: A disaggregated analysis. Journal of Policy Modeling, (31), 180-188.
  • Brauer, B. (2004). Central Asia: The great game revisited. in: Reiter, E. and Hazdra, P. (Eds), The Impact of Asian Powers on Global Developments, 41-52. New York: Springer.
  • Brock, W., Scheinkman, J.A., Dechert, W.D., & LeBaron, B. (1987). A test for independence based on the correlation dimension.working paper. Department of economics. University of Wisconsin.
  • Campo, J. & Sarmiento V. (2013). The relationship between energy consumption and GDP: Evidence from a panel of Latin American countriesi Latin American Journal of Economics, (50), 233-255.
  • Chen, Y., Lotz-Inglesi, R., & Chang, T. (2017). Revisiting the asymmetric causal link between energy consumption and output in China: Focus on coal and oil consumption. Energy Sources, Part B: Economics, Planning, and Policy, (12), 992-100.
  • Cheng, B. (1995). An investigation of cointegration and causality between energy consumption and economic growth. The Journal of Energy and Development, (21), 73-84.
  • Cheng, B. (1999). Causality between energy consumption and economic growth in India: An application of cointegration and error-correction modeling. Indian Economic Review, (34), 39-49.
  • Chontanawat, J., Hunt, L.C., & Pierse, R. (2008). Does energy consumption cause economic growth?: Evidence from a systematic study of over 100 countries". Journal of Policy Modeling, (30), 209-220.
  • Cornell, S.E. (2011). Small nations and great powers: a study of ethnopolitical conflict in the Caucasus. New York: Routledge.
  • Çetintaş, H. (2016). Energy consumption and economic growth: The case of transition economies. Energy Sources, Part B: Economics, Planning, and Policy, (11), 267-273.
  • Destek, M. & Okumus I. (2017). Disaggregated energy consumption and economic growth in G-7 countries. Energy Sources, Part B: Economics, Planning, and Policy, (12), 808-814.
  • Dickey, D. & Fuller W. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, (74), 427-431.
  • Doğan, E., Seker, F., & Bulbul, S. (2017). Investigating the impacts of energy consumption, real GDP, tourism and trade on co2 emissions by accounting for cross-sectional dependence: A panel study of OECD countries. Current Issues in Tourism, (20), 1701-1719.
  • Ebohon, O. (1996). Energy, economic growth and causality in developing countries. Energy Policy, (24), 447-453.
  • Eddrief-Cherfi, S. & Kourbali B. (2012). Energy consumption and economic growth in Algeria: Cointegration and causality analysis. International Journal of Energy Economics and Policy, (2), 2146-4553.
  • Enders, W. & Lee J. (2012). A unit root test using a fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics, (74), 574-599.
  • Erdal, G., Erdal, H., & Esengün, K. (2008). The causality between energy consumption and economic growth in Turkey. Energy Policy, (36), 3838-3842.
  • Erol, Ü. & Yu E. (1987(a)). Time series analysis of the causal relationship between U.S. energy and employment. Resource and Energy, (9), 78-89.
  • Erol, Ü. & Yu E. (1987(b)). On the casual relationship between energy and income for industrialized countries. The Journal of Energy and Development, (13), 113-122.
  • Fatai, K., Oxley, L., & Scrimgeour, F.G. (2004). Modelling the causal relationship between energy consumption and Gdp in New Zealand, Australia, India, Indonesia, The PhilippInes and Thailand. Mathematics and Computers in Simulation, 64, 431-445.
  • Ghali, K. & El-Sakka M. (2004). Energy use and output growth in Canada: A multivariate cointegration analysis. Energy Economics, 26, 225-238.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India. Energy Policy, 30, 125-129.
  • Glasure, Y. & Lee A. (1997). Cointegration, error-correction, and therrelationship between GDP and energy: The case of South Korea and SIngapore. Resource and Energy Economics, (20), 17-25.
  • Glasure, Y. (2002). Energy and national income in Korea: Further evidence on the role of omitted variables. Energy Economics, (24), 355-365.
  • Halicioglu, F. (2009). An econometric study of CO2 emissions, energy consumption, income and foreign trade in Turkey. Energy Policy, (37), 1156-1164.
  • Hatemi-J, A. & Irandoust M. (2005). Energy consumption and economic growth in Sweeden: A leveraged bootstrap. International Journal of Applied Econometrics and Quantitative Studies, (2), 87-98.
  • Hatemi-J, A. & Uddin G. (2012). Is the causal nexus of energy utilization and economic growth asymmetric in the US?. Economic System, (36), 461-469.
  • Hatemi-J, A. (2012a). Asymmetric causality tests with an application. Empirical Economics, (43), 447-456.
  • Hatemi-J, A. (2012b). "s The Uae stock market integrated with the Usa stock market? New Evidence from asymmetric causality testing. Research in International Business and Finance, (26), 273-280.
  • Ho, C. & Siu K. (2007). A dynamic equilibrium of electricity consumption and GDP in Hong Kong: An empirical investigatio". Energy Policy, (35), 2507-2513.
  • Hoa, T. (1993). Effects of oil output growth and inflation in developing countries: The case of Thailand from january 1996 to january 1991. International Journal of Energy and Research, (17), 29-33.
  • Hondroyiannis, G., Lolos, S., & Papapetrou, E. (2002). Energy consumption and economic growth: Assessing the evidence from Greece. Energy Economics, (24), 319-336.
  • Hu, J. & Lin C. (2008). Disaggregated energy consumption and Gdp in Taiwan: A threshold co-integration analysis. Energy Economics, (30), 2342-2358.
  • Huang, B., Hwang, M.J., & Yang, C.W. (2008). Causal relationship between energy consumption and GDP growth revisited: A dynamic panel data approach. Ecological Economics, (67), 41-54.
  • Hwang, D. & Gum B. (1991). The casual relationship between energy and Gnp: The case of Taiwan. The Journal of Energy and Development, (16), 219-226.
  • Jobert, T. & Karanfil F. (2007). Sectoral energy consumption by source and economic growth in Turkey. Energy Policy, (35), 5447-5456.
  • Joe, Y. & Kim, C.S (2014). Energy consumption, CO2 emission, and economic growth: Evidence from Chile. International Journal of Green Energy, (12), 543-550.
  • Kalyoncu, H., Gürsoy, F., & Göcen, H. (2013). Causality relationship between GDP and energy consumption in Georgia, Azerbaijan And Armenia. International Journal of Energy Economics and Policy, (3), 111-117.
  • Kapusuzoğlu, A. & Karan M. (2010). Gelismekte olan ülkelerde elektrik tüketimi ile gayri safi yurt içi hasıla (GSYİH) arasındaki eş-bütünleşme ve nedensellik ilişkisinin analizi: Türkiye üzerine ampirik bir çalısma. İsletme ve Ekonomi Araştırmaları Dergisi, (1), 57-68.
  • Karanfil, F. (2008). Energy consumption and economic growth revisited: Does the size of unrecorded economy matter?". Energy Policy, (36), 3029-3035.
  • Kraft, J. & Kraft A. (1978). On the relationship between energy and GNP. The Journal of Energy and Development, (3), 401-403.
  • Lee, C. & Chang C. (2005). Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan". Energy Economics, (27), 857-872.
  • Lee, C. & Chang C. (2007). The impact of energy consumption on economic growth: Evidence from linear and nonlinear models in Taiwan. Energy, (32), 2282-2294.
  • Lee, C. & Lee J. (2010). Panel data analysis of the demand for total energy and electricity in Oecd countries. The Energy Journal, (31), 1-23.
  • Lee, C. (2005). Energy consumption and Gdp in developing countries: A cointegrated panel analysis. Energy Economics, (27), 415-427.
  • Lise, W. & Montfort K. (2007). Energy consumption and Gdp in Turkey: Is there a co‐integration relationship?". Energy Economics, (29), 1166-1178.
  • Ljung, G. & Box G. (1978). On a measure of lack of fit in time series models. Biometrika, (65), 297-303.
  • Magazzino, C. (2016). "The Relationship Between Co2 Emissions, Energy Consumption and Economic Growth In Italy". International Journal of Sustainable Energy, (35), 844-857.
  • Masih, A. & Masih R. (1996). Energy consumption, real income and temporal causality: Results from a multi-country study based on cointegration and error-correction modelling techniques. Energy Economics, (18), 165-183.
  • Masih, A. & Masih R. (1997). On the temporal causal relationship between energy consumption, real income, and prices: Some new evidence from Asian-Energy dependent nics based on a multivariate cointegrationnector error-correction approach. Journal of Policy Modeling, (19), 417-440.
  • Mehrara, M. (2007). Energy consumption and economic growth: The case of oil exporting countries. Energy Policy, (35), 2939-2945.
  • Meidani, A. & Zabihi M. (2014). Energy consumption and real GDP in Iran. International Journal of Energy Economics and Policy, (4), 15-25.
  • Morimoto, R. & Hope C. (2004). The impact of electricity supply on economic growth in Sri Lanka. Energy Economics, (26), 77-85.
  • Mozumder, P. & Marathe A. (2007). Causality relationship between electricity consumption and Gdp in Bangladesh. Energy Policy, (35), 395-402.
  • Mudarissov, B. & Lee Y. (2014). "The Relationship Between Energy Consumption and Economic Growth In Kazakhstan". Geosystem Engineering, (14), 63-68
  • Narayan, P. & Smyth R. (2008). Energy consumption and real Gdp in G7 countries: New evidence from panel cointegration with structural breaks. Energy Economics, (30), 2331-2341.
  • Nayan, S., Kadir, N., Ahmad, M., & Abdullah, M.S. (2013). RevisitIng energy consumption and Gdp: Evidence from dynamic panel data analysis. Procedia Economics and Finance, (7), 42-47.
  • Odhiambo, N. (2009). Energy consumption and economic growth nexus in Tanzania: An ARDL bounds testing approach". Energy Policy, (37), 617-622.
  • Oh, W. & Lee K. (2004). Causal relationship between energy consumption and Gdp revisited: The case Ofkor Ea 1970–1999. Energy Economics, (26), 51-59.
  • Öztürk, F. (2017). Energy consumption–GDP causality in mena countries. Energy Sources, Part B: Economics, Planning, and Policy, (12), 231-236.
  • Öztürk, İ., Asln, A., & Kalyoncu, H. (2010). Energy consumption and economic growth relationship: Evidence from panel data for lown and middleincome countries. Energy Policy, (38), 4422-4428.
  • Paul, S. & Bhattacharya R. (2004). Causality between energy consumption and economic growth in India: A note on conflicting results. Energy Economics, (26), 977-983.
  • Payne, J. (2009). On the dynamics of energy consumption and output in the US. Applied Energy, (86), 575-577.
  • Rezitis, A. & Ahammad S. (2015). the relationship between energy consumption and economic growth in South And Southeast Asian countries: A panel vector autoregression approach and causality analysis. International Journal of Energy Economics and Policy, (5), 704-714.
  • Shahbaz, M., Hoang, T.H.V., Mahalik, M.T., & Roubaud, D. (2017). Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis. Energy Economics, (63), 199-212.
  • Shahbaz, M., Mutascu, M., & Azim, P. (2013). Environmental kuznets curve in romania and the role of energy consumption. Renewable and Sustainable Energy Reviews, (18), 165-173.
  • Sharma, S. (2010). The relationship between energy and economic growth: Empirical evidence from 66 countries. Applied Energy, (87), 3565-3574.
  • Shiu, A. & Lam P. (2004). Electricity consumption and economic growth in China. Energy Policy, (32), 47-57.
  • Soares, J., Kim, Y.K., & Heo, E. (2014). Analysis of causality between energy consumption and economic growth in Indonesia. Geosystem Engineering, (17), 58-62.
  • Soytas, U. & Sari R. (2009). Energy consumption, economic growth, and carbon emissions: Challenges faced by an EU candidate member. Ecological Economics, (68), 1667-1675.
  • Soytaş, U. & Sarı R. (2003). Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Economics, (25), 33-37.
  • Soytaş, U., Sari, R., & Özdemir, Ö. (2001). Energy consumption and GDP relations in Turkey: a cointegration and vector error correction analysis. Economies and Business in Transition: Facilitating Competitiveness and Change in the Global Environment Proceedings, (1), 838-844.
  • Stern, D. (1993). energy and economic growth in the Usa: A multivariate approach. Energy Economics, (15), 137-150.
  • Toda, H. & Yamamoto T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, (66), 225-250.
  • Tuğcu, C. & Topcu M. (2018). Total, renewable and non-renewable energy consumption and economic growth: Revisiting the issue with an asymmetric point of view. Energy, (152), 64-74.
  • Tuğcu, C., Özturk, İ., & Aslan, A. (2012). Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics, (34), 1942-1950.
  • Umar, M. & Dahalan J. (2016). An application of asymmetric toda-yamamoto causality on exchange rate-inflation differentials in emerging economies. International Journal of Economics and Financial Issues, (6), 420-426.
  • Wolde-Rufael, Y. (2004). Disaggregated industrial energy consumption and Gdp: The case of Shanghai, 1952-1999. Energy Economics, (26), 69-75.
  • Yakubu, M. & Jelilov G. (2017). Effect of energy consumption on Gdp Evidence from (Ten) Sub-Saharan Africa countries. Nile Journal of Business and Economics, (5), 3-14.
  • Yang, H. (2000). A note on the causal relationship between energy and GDP in Taiwan. Energy Economics, (22), 309-317.
  • Yoo, S. (2005). Electricity consumption and economic growth: Evidence from Korea. Energy Policy, (33), 1627-1632.
  • Yoo, S. (2006). The causal relationship between electricity consumption and economic growth in the Asean Countries. Energy Policy, (34), 3573-3582.
  • Yu, E. & Choi J. (1985). The casual relationship between energy and GNP: An international comparison. The Journal of Energy and Development, (10), 249-272.
  • Yu, E. & Hwang B. (1984). The relationship between energy and Gnp: Further results. Energy Economics, (6), 186-190.
  • Yu, E. & Jin J. (1992). CoIntegration tests of energy consumption, income and employment. Resource and Energy, (14), 259-266
  • Yuan, C., Liu, S., Fang, Z., & Xie, N. (2010). The relation between Chinese economic development and energy consumption in the different periods. Energy Policy, (38), 5189-5198.
  • Yücel, V. and Ruysdael, S. (2002). New Trends in Turkish Foreign Affairs: Bridges and Boundaries. New York: Writers Club Press.
  • Zachariadis, T. & Pashourtidou N. (2007). An empirical analysis of electricity consumption in Cyprus. Energy Economics, (29), 183-198.
  • Zamani, M. (2007). energy consumption and economic activities in Iran. Energy Economics, (29), 1135-1140.
  • Zeshan, M. & Ahmed V. (2013). Energy consumption and economic growth in Pakistan. Bulletin of Energy Economics, (1), 8-20.
  • Zhang, X. & Cheng X. (2009). Energy consumption, carbon emissions, and economic growth in China. Ecological Economics, (68), 2706-2712.
  • Zou, G. & Chau K. (2006). Short- and long-run effects between oil consumption and economic growth in China. Energy Policy, (34), 3644-3655.
There are 120 citations in total.

Details

Primary Language English
Journal Section Research Article
Authors

Ayhan Orhan 0000-0002-8109-4306

Muhammet Rıdvan İnce 0000-0003-2050-2545

Abdullah Açık 0000-0003-4542-9831

Publication Date December 27, 2020
Published in Issue Year 2020 Volume: 5 Issue: 2

Cite

APA Orhan, A., İnce, M. R., & Açık, A. (2020). Asymmetric Causality Relationship between Energy Consumption and Economic Growth: Sample of Selected Turkish Republics. JOEEP: Journal of Emerging Economies and Policy, 5(2), 61-74.
 Download Cover Image

JOEEP is published as two issues per year June and December and all publication policies and processes are conducted according to the international standards. JOEEP accepts and publishes the research articles in the fields of economics, political economy, fiscal economics, applied economics, business economics, labour economics and econometrics. JOEEP, without depending on any institution or organization, is a non-profit journal that has an International Editorial Board specialist on their fields. All “Publication Process” and “Writing Guidelines” are explained in the related title and it is expected from authors to Show a complete match to the rules. JOEEP is an open Access journal.