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TÜRKİYE’DE EKONOMİK BÜYÜME İLE FİZİKİ SERMAYE, BEŞERİ SERMAYE VE ENERJİ TÜKETİMİ ARASINDAKİ İLİŞKİ: NARDL YAKLAŞIMI

Year 2022, Volume: 9 Issue: 1, 223 - 242, 23.03.2022
https://doi.org/10.30798/makuiibf.860983

Abstract

Dünyada meydana gelen ekonomik gelişmeler incelendiğinde, Neoklasik büyüme modeli çerçevesinde incelenen MRW modeli, sermaye birikimini fiziki sermaye ve beşeri sermaye olarak ayrıştırmaktadır. Daha sonra ortaya çıkan içsel büyüme modellerinde ise beşeri sermaye ve fiziki sermaye faktörleri ayrı ayrı inceleme konusu yapılarak beşeri sermayenin ekonomik büyümeye etkisi üzerinde durulmaktadır. Bunun yanı sıra 1970’li yıllarda ortaya çıkan petrol krizinin etkisiyle enerji faktörünün ekonomik büyüme üzerindeki etkilerini inceleyen çalışmalar dikkat çekmektedir. Yapılan açıklamalar çerçevesinde, bu çalışmanın amacı Türkiye’ de fiziki sermaye, beşeri sermaye ve enerji tüketimi faktörlerinde meydana gelen değişmelerin, GSYİH üzerindeki etkilerini incelemektir. Yapılan çalışmada, Türkiye’nin 1965-2014 yılları arasındaki fiziki sermaye, beşeri sermaye ve enerji tüketimi verileri kullanılarak, değişkenlerin ekonomik büyümeye olan etkileri NARDL yöntemi ile test edilmektedir

References

  • Akça F. (2014). “Beşeri Sermayenin Ekonomik Büyümeye Etkisi: Türkiye Üzerine Bir Uygulama”,(Yüksek lisans tezi), Cumhuriyet Üniversitesi Sosyal Bilimler Enstitüsü, Sivas.
  • Altıntaş H. (2016). “Petrol Fiyatlarının Gıda Fiyatlarına Asimetrik Etkisi: Türkiye İçin NARDL Modeli Uygulaması”, Yönetim ve Ekonomi Araştırmaları Dergisi, cilt: 14/4.
  • Akarca, A. ve Long T.V (1980), “On the Relationship Between Energy and GNP: A Re-Examination”, Journal of Energy and Development, 5, 326-331.
  • Amable B. (1994). “Endogeneous Growth Theory, Convergence and Divergence”, in G. Silverberg and L. Soete (eds), The Economics of Growth and Technical Change, Cambridge, MA: MIT Press.
  • Apergis, J. ve Payne, E. (2010). “Renewable energy consumption and economic growth: Evidence from a panel of OECD countries”, Energy Policy, Volume 38, pp: 656-660.
  • Bayramoglu A. T., Yildirim E. (2017). “The Relationship between Energy Consumption and Economic Growth in the USA: A Non-Linear ARDL Bounds Test Approach”, Energy and Power Engineering, 9, 170-186.
  • Beaudreau B.C. (1995). “The Impact of Electric Power on Productivity: A Study of Us Manufacturing 1950–1984”, Energy Economics, 17-3, 231-236.
  • Bhattacharya M. Vd. (2016). “The Effect of Renewable Energy Consumption on Economic Growth: Evidence From on Top 38 Countries”, Applied Energy, 162, 733-741.
  • Bilginoğlu M. A., Dumrul C. (2012). “Türk Ekonomisinin Enerji Bağımlılığı Üzerine Bir Eş-bütünleşme Analizi”, Journal of Yasar University 2012 26(7) 4392 - 4414.
  • Bloch H., Rafiq S., Salim R. (2015). “Economic Growth with Coal, Oil and Renewable Energy Consumption in China: Prospects for Fuel Substitution”, Economic Modelling, 44, 104-115.
  • Ceylan F., Tüzün O., Ekinci R., Kahyaoğlu H. (2016). “Tüketici Kredileri ile Paranın Dolanım Hızı Arasındaki Asimetrik İlişki: Türkiye Üzerine Bir Uygulama”, İnsan ve Toplum Bilimleri Araştırma Dergisi, Cilt:5, Sayı: 7, 2342-2357.
  • Fuinhas J. A., Marques A. C. (2012). “Energy Consumption and Economic Growth Nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL Bounds Test Approach (1965–2009)”, Energy Economics, Vol.34/2, 511-517.
  • Ilesanmi K. D., Tewari D. D. (2017). “Energy Consumption, Human Capital Investment and Economic Growth in South Africa: a Vector Error Correction Model Analysis” http://onlinelibrary.wiley.com/doi/10.1111/opec.12094/abstract (02.08.2017).
  • Inglesi-Lotz R. (2016). “The Impact of Revewable Energy Consumption to Economic Growth: A Panel Data Application”, Energy Economics, 53, 58-63.
  • Karagül M. (2003). “Beşeri Sermayenin Ekonomik Büyümeyle İlişkisi ve Etkin Kullanımı”, Akdeniz İ.İ.B.F. Dergisi, sayı:5, 79-90.
  • Kraft, J. ve A. Kraft; (1978), “On the Relationship Between Energy and GNP”, Journal of Energy and Development, 3, ss. 401-403.
  • Lıse W., Montfort K. V. (2007). “Energy Consumption and GDP in Turkey: Is There a Co‐integration Relationship?”, Energy Economics, Vol.29, No.6, 1166-1178.
  • Mankiw G., Romer G., Weil D. N. (1992). “A Contribution to the Empirics of Economic Growth”, The Quarterly Journal of Economics,408-437.
  • Montgomery, S. L. (2014). “Küresel Enerjiye Yön Veren Güçler 21. Yüzyıl ve Sonrası”, TÜBİTAK Popüler Bilim Kitapları, Ankara.
  • Pao H. T., Fu H. C. (2013), “Renewable Energy, Non-Renewable Energy and Economic Growth in Brazil”, Renewable and Sustainable Energy Reviews, 25, 381-392.
  • Pesaran, M. H. ve Shin, Y. (1999), “An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis” Department of Applied Economics, University of Cambridge, England.
  • Pesaran M.H., Shin Y., Smith R. J. (2001). “Bounds Testing Approaches To The Analysis Of Level Relationships”, Journal Of Applied Econometrics, 16: 289–326.
  • Salim R., Yao Y.,, George S. C. (2017). “Does human capital matter for energy consumption in China?”, Energy Economics 67: 49–59.
  • Saxton, J. (2000). Investment in education: Private and public returns. Retrieved from http://www.house.gov/jec/educ.pdf.
  • Schorderet, Y. (2003), Asymmetric Cointegration. Geneva, Switzerland: Universite de Geneve, Faculte des Sciences Eqconomiques et Sociales, Departement D’Econometrie, Working Paper.
  • Sebri M., Ben-Salha O. (2014). “On The Causal Dynamics Between Economic Growth, Renewable Energy Consumption, CO2 Emissions and Trade Openess: Fresh Evidence From BRICS Countries”, Renewable and Sustainable Energy Reviews, 39, 14-23.
  • Shin Y., Yu B., Nimmo M.G. (2014). “Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework”, Festschrift in Honor of Peter Schmidt, 281-314.
  • Stern D.I. (1993). “Energy and economic growth in the USA.”, Energy Economics, 15: 137-150.
  • Stern D. I. (2011). “The Role of Energy in Economic Growth”, Annals of the New York Academy of Sciences, 1219-1, 39.
  • Subhan S., Hafeez A., Waheed H. (2015). “Impact of Energy Consumption on Economic Growth of Pakistan”, IJMEIT Volume 3 Issue 9, 1529-1538.
  • Vlahinic N., Jakovac P. (2014). “Revisiting the Energy Consumption-Growth Nexus for Croatia: New Evidence from a Multivariate Framework Analysis”, Contemporary Economics, Vol.8, No.4, 435-452.
  • Yu, E.S.H. ve Hwang, B.K., (1984), “The Relationship Between Energy and GNP: Further Results”, Energy Economics, 6, 186-190.

THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND PHYSICAL CAPITAL, HUMAN CAPITAL AND ENERGY CONSUMPTION IN TURKEY: NARDL APPROACH

Year 2022, Volume: 9 Issue: 1, 223 - 242, 23.03.2022
https://doi.org/10.30798/makuiibf.860983

Abstract

When the economic developments taking place in the world are analyzed, the MRW model, which is examined under the Neoclassical growth model, divides the capital accumulation into physical capital and human capital. In later models of internal growth, human capital and physical capital factors are examined separately and the effect of human capital on economic growth is emphasized. In addition, studies that examine the effects of the energy factor on economic growth by the influence of the oil crisis that took place in the 1970s are remarkable. In the framework of the description, this study aims to Turkey in physical capital, human capital and the changes occurring in the energy consumption of factors is to examine the impact on GDP. In this study, physical capital of Turkey between the years 1965-2014, using human capital data and energy consumption, the effects of economic growth variables are tested with NARDL method.

References

  • Akça F. (2014). “Beşeri Sermayenin Ekonomik Büyümeye Etkisi: Türkiye Üzerine Bir Uygulama”,(Yüksek lisans tezi), Cumhuriyet Üniversitesi Sosyal Bilimler Enstitüsü, Sivas.
  • Altıntaş H. (2016). “Petrol Fiyatlarının Gıda Fiyatlarına Asimetrik Etkisi: Türkiye İçin NARDL Modeli Uygulaması”, Yönetim ve Ekonomi Araştırmaları Dergisi, cilt: 14/4.
  • Akarca, A. ve Long T.V (1980), “On the Relationship Between Energy and GNP: A Re-Examination”, Journal of Energy and Development, 5, 326-331.
  • Amable B. (1994). “Endogeneous Growth Theory, Convergence and Divergence”, in G. Silverberg and L. Soete (eds), The Economics of Growth and Technical Change, Cambridge, MA: MIT Press.
  • Apergis, J. ve Payne, E. (2010). “Renewable energy consumption and economic growth: Evidence from a panel of OECD countries”, Energy Policy, Volume 38, pp: 656-660.
  • Bayramoglu A. T., Yildirim E. (2017). “The Relationship between Energy Consumption and Economic Growth in the USA: A Non-Linear ARDL Bounds Test Approach”, Energy and Power Engineering, 9, 170-186.
  • Beaudreau B.C. (1995). “The Impact of Electric Power on Productivity: A Study of Us Manufacturing 1950–1984”, Energy Economics, 17-3, 231-236.
  • Bhattacharya M. Vd. (2016). “The Effect of Renewable Energy Consumption on Economic Growth: Evidence From on Top 38 Countries”, Applied Energy, 162, 733-741.
  • Bilginoğlu M. A., Dumrul C. (2012). “Türk Ekonomisinin Enerji Bağımlılığı Üzerine Bir Eş-bütünleşme Analizi”, Journal of Yasar University 2012 26(7) 4392 - 4414.
  • Bloch H., Rafiq S., Salim R. (2015). “Economic Growth with Coal, Oil and Renewable Energy Consumption in China: Prospects for Fuel Substitution”, Economic Modelling, 44, 104-115.
  • Ceylan F., Tüzün O., Ekinci R., Kahyaoğlu H. (2016). “Tüketici Kredileri ile Paranın Dolanım Hızı Arasındaki Asimetrik İlişki: Türkiye Üzerine Bir Uygulama”, İnsan ve Toplum Bilimleri Araştırma Dergisi, Cilt:5, Sayı: 7, 2342-2357.
  • Fuinhas J. A., Marques A. C. (2012). “Energy Consumption and Economic Growth Nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL Bounds Test Approach (1965–2009)”, Energy Economics, Vol.34/2, 511-517.
  • Ilesanmi K. D., Tewari D. D. (2017). “Energy Consumption, Human Capital Investment and Economic Growth in South Africa: a Vector Error Correction Model Analysis” http://onlinelibrary.wiley.com/doi/10.1111/opec.12094/abstract (02.08.2017).
  • Inglesi-Lotz R. (2016). “The Impact of Revewable Energy Consumption to Economic Growth: A Panel Data Application”, Energy Economics, 53, 58-63.
  • Karagül M. (2003). “Beşeri Sermayenin Ekonomik Büyümeyle İlişkisi ve Etkin Kullanımı”, Akdeniz İ.İ.B.F. Dergisi, sayı:5, 79-90.
  • Kraft, J. ve A. Kraft; (1978), “On the Relationship Between Energy and GNP”, Journal of Energy and Development, 3, ss. 401-403.
  • Lıse W., Montfort K. V. (2007). “Energy Consumption and GDP in Turkey: Is There a Co‐integration Relationship?”, Energy Economics, Vol.29, No.6, 1166-1178.
  • Mankiw G., Romer G., Weil D. N. (1992). “A Contribution to the Empirics of Economic Growth”, The Quarterly Journal of Economics,408-437.
  • Montgomery, S. L. (2014). “Küresel Enerjiye Yön Veren Güçler 21. Yüzyıl ve Sonrası”, TÜBİTAK Popüler Bilim Kitapları, Ankara.
  • Pao H. T., Fu H. C. (2013), “Renewable Energy, Non-Renewable Energy and Economic Growth in Brazil”, Renewable and Sustainable Energy Reviews, 25, 381-392.
  • Pesaran, M. H. ve Shin, Y. (1999), “An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis” Department of Applied Economics, University of Cambridge, England.
  • Pesaran M.H., Shin Y., Smith R. J. (2001). “Bounds Testing Approaches To The Analysis Of Level Relationships”, Journal Of Applied Econometrics, 16: 289–326.
  • Salim R., Yao Y.,, George S. C. (2017). “Does human capital matter for energy consumption in China?”, Energy Economics 67: 49–59.
  • Saxton, J. (2000). Investment in education: Private and public returns. Retrieved from http://www.house.gov/jec/educ.pdf.
  • Schorderet, Y. (2003), Asymmetric Cointegration. Geneva, Switzerland: Universite de Geneve, Faculte des Sciences Eqconomiques et Sociales, Departement D’Econometrie, Working Paper.
  • Sebri M., Ben-Salha O. (2014). “On The Causal Dynamics Between Economic Growth, Renewable Energy Consumption, CO2 Emissions and Trade Openess: Fresh Evidence From BRICS Countries”, Renewable and Sustainable Energy Reviews, 39, 14-23.
  • Shin Y., Yu B., Nimmo M.G. (2014). “Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework”, Festschrift in Honor of Peter Schmidt, 281-314.
  • Stern D.I. (1993). “Energy and economic growth in the USA.”, Energy Economics, 15: 137-150.
  • Stern D. I. (2011). “The Role of Energy in Economic Growth”, Annals of the New York Academy of Sciences, 1219-1, 39.
  • Subhan S., Hafeez A., Waheed H. (2015). “Impact of Energy Consumption on Economic Growth of Pakistan”, IJMEIT Volume 3 Issue 9, 1529-1538.
  • Vlahinic N., Jakovac P. (2014). “Revisiting the Energy Consumption-Growth Nexus for Croatia: New Evidence from a Multivariate Framework Analysis”, Contemporary Economics, Vol.8, No.4, 435-452.
  • Yu, E.S.H. ve Hwang, B.K., (1984), “The Relationship Between Energy and GNP: Further Results”, Energy Economics, 6, 186-190.
There are 32 citations in total.

Details

Primary Language Turkish
Journal Section Research Articles
Authors

Yaşar Turna 0000-0002-3972-9099

Reşat Ceylan 0000-0003-3727-6644

Publication Date March 23, 2022
Submission Date January 14, 2021
Published in Issue Year 2022 Volume: 9 Issue: 1

Cite

APA Turna, Y., & Ceylan, R. (2022). TÜRKİYE’DE EKONOMİK BÜYÜME İLE FİZİKİ SERMAYE, BEŞERİ SERMAYE VE ENERJİ TÜKETİMİ ARASINDAKİ İLİŞKİ: NARDL YAKLAŞIMI. Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty, 9(1), 223-242. https://doi.org/10.30798/makuiibf.860983