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YENİLENEBİLİR ENERJİ VE DOĞRUDAN YABANCI YATIRIMLAR ARASINDAKİ İLİŞKİNİN TÜRKİYE İÇİN ANALİZİ

Year 2022, , 52 - 56, 03.01.2023
https://doi.org/10.30711/utead.1202239

Abstract

Doğrudan yabancı yatırımlar ülkelerin büyüme ve gelişme süreçlerinde avantaj sağlamaktadır. Son 50 yılda küreselleşme süreci ile birlikte doğrudan yabancı yatırımların artması, ülke ekonomileri üzerinde özellikle ekonomik büyüme ve istihdam olanakları üzerinde bazı etkiler yaratmıştır. Bu etkiler arasında doğrudan yabancı yatırımların enerji sektörü üzerinde etkileri olduğu bilinmektedir. Enerji sektörünün yükselen bir alanı olan yenilenebilir enerji sektörü de doğrudan yabancı yatırımlardan olumlu veya olumsuz etkilenmektedir. Bu nedenle çalışmanın amacı, 1990-2019 verileri ile Türkiye'deki yenilenebilir enerji tüketimi, doğrudan yabancı yatırımlar ve GSYİH arasındaki ilişkiyi incelemektir. Bu çalışmada Banerjee vd. (2017) Fourier ADL eşbütünleşme testi analizi kullanılmıştır. Analiz sonuçlarına göre, Türkiye'de doğrudan yabancı yatırımlar, yenilenebilir enerji tüketimi ve GSYİH arasında eşbütünleşme ilişkisi yoktur. Türkiye'de doğrudan yabancı yatırımların temiz enerji alanlarını ve kullanımını destekleyecek şekilde gerçekleştirilmesi durumunda yenilenebilir enerji tüketiminin artacağı düşünülmektedir.

This study is an extended version of the paper presented at the International Conference on Empirical Economics and Social Sciences (ICEESS'22) held in Bandırma – Turkey on July 2-3, 2022.

References

  • Abosedra, S. and Baghestani, H. (1989). New evidence on the causal relationship between United States energy consumption and gross national product. The Journal of Energy and Development, 14(2), 285-292.
  • Acaravci, A., Erdogan, S. and Akalin, G. (2015). The electricity consumption, real income, trade openness and foreign direct ınvestment: The empirical evidence from Turkey. International Journal of Energy Economics and Policy, 5(4), 1050-1057.
  • Ahmad, M., Zhao, Z. Y., Rehman, A., Shahzad, M. and Li, H. (2019). Revealing long- and short-run empirical interactions among foreign direct investment, renewable power generation, and CO2 emissions in China. Environmental Science and Pollution Research, 26, 22220–22245.
  • Akarca, A. T. and Long, T. V. (1980). On the relationship between energy and GNP: A reexamination. The Journal of Energy and Development, 5(2), 326-331.
  • Arı, A. (2021). Yenilenebilir enerji ve doğrudan yabancı yatırımlar: Türkiye örneği. KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 23(40), 122-131.
  • Bal, H. and Göz, D. (2010). Doğrudan yabancı sermaye yatırımları ve Türkiye. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi, 19(2), 450-467.
  • Banerjee, P., Arčabic, V. and Lee, H. (2017). Fourier ADL cointegration test to approximate smooth breaks with new evidence from crude oil market. Economic Modelling, 67, 114-124.
  • Borensztein, E., De Gregorio, J. and Lee, J. W. (1998). How does foreign direct investment affect economic growth?. Journal of International Economics, 45, 115-135.
  • Bölük, G., Çağlar, A. E. and Mert, M. (2022). Do renewable energy and foreign direct investment promote economic growth in Turkey? An evidence through a nonlinear and asymmetric analysis approach. Journal of Yasar University, 17(66), 415-436.
  • De Mello, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. Journal of Development Studies, 34(1), 1-34.
  • De Mello, L. R. (1999). Foreign direct investment-led growth: Evidence from time series and panel data. Oxford Economic Papers, 51, 133 – 151.
  • Ekwueme, D. C., Zoaka, J. D. and Alola, A. A. (2021). Carbon emission effect of renewable energy utilization, fiscal development, and foreign direct investment in South Africa. Environmental Science and Pollution Research, 28(31), 41821-41833.
  • Emodi, N. V. and Boo, K. J. (2015). Sustainable energy development in Nigeria: Overcoming energy poverty. International Journal of Energy Economics and Policy, 5(2), 580-597.
  • Ericsson, J. and Irandoust, M. (2001). On the causality between foreign direct investment and output: A comparative study. International Trade Journal, 15(1), 122-132.
  • Hepsağ, A. (2022). Ekonometrik zaman serileri analizlerinde güncel yöntemler. Der Yayınları, İstanbul. Hwang, D. B. K. and Gum, B. (1991). The causal relationship between energy and GNP: The case of Taiwan. Journal of Energy Development, 16(2), 219-226.
  • Ibrahiem, D. M. (2015). Renewable electricity consumption, foreign direct investment and economic growth in Egypt: An ARDL approach. Procedia Economics and Finance, 30, 313-323.
  • Kang, X., Khan, F. U., Ullah, R., Arif, M., Rehman, S. U. and Ullah, F. (2021). Does foreign direct investment influence renewable energy consumption? Empirical evidence from South Asian countries. Energies, 14, 1-15.
  • Karimi, M. S. and Yusop, Z. (2009). FDI and Economic Growth in Malaysia. MPRA, 14999.
  • Kraft, J. and Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3 (2), 401-403.
  • Long, N. T. (2020). Do foreign direct investment, energy consumption and urbanization enhance economic growth in six ASEAN countries?. Journal of Asian Finance, Economics and Business, 7(12), 33-42.
  • Mike, F. (2020). Kirlilik sığınağı hipotezi Türkiye için geçerli mi? ARDL sınır testi yaklaşımından bulgular. Doğuş Üniversitesi Dergisi, 21(2), 107-121.
  • Polat, B. (2018). The influence of FDI on energy consumption in developing and developed countries: A dynamic panel data approach. Journal of Yasar University, 13(49), 33-42.
  • Parab, N., Naik, R. and Reddy, Y. V. (2020). Renewable energy, foreign direct investment and sustainable development: An empirical evidence. International Journal of Energy Economics and Policy, 10(5), 479-484.
  • Yu, E. S. and Hwang, B. K. (1984). The relationship between energy and GNP. Energy Economics, 6(3), 186-190.
  • Yurtkuran, S. (2021). Türkiye’de kirlilik sığınağı hipotezi geçerli mi? Fourier eşbütünleşme ve nedensellik yöntemlerinden kanıtlar. Akademik Araştırmalar ve Çalışmalar Dergisi, 13(24), 61-77.

ANALYSIS OF THE RELATIONSHIP BETWEEN RENEWABLE ENERGY AND FOREIGN DIRECT INVESTMENTS FOR TURKEY

Year 2022, , 52 - 56, 03.01.2023
https://doi.org/10.30711/utead.1202239

Abstract

Foreign direct investments provide advantages in the growth and development processes of countries. The increase in foreign direct investments with the globalization process in the last 50 years has created some effects on the economies of countries, especially on economic growth and employment opportunities. Among these effects, it is known that foreign direct investments have effects on the energy sector. The renewable energy sector, which is a rising area of the energy sector, is also positively or negatively affected by foreign direct investments. For this reason, the aim of the study is to examine the relationship between 1990-2019 data and renewable energy consumption in Turkey, foreign direct investments and GDP. In this study, Banerjee et al. (2017) Fourier ADL cointegration test analysis was used. According to the results of the analysis, there is no cointegration relationship between foreign direct investments, renewable energy consumption and GDP in Turkey. It is thought that renewable energy consumption will increase if foreign direct investments in Turkey are realized in a way that supports clean energy areas and usage.

This study is an extended version of the paper presented at the International Conference on Empirical Economics and Social Sciences (ICEESS'22) held in Bandırma – Turkey on July 2-3, 2022.

References

  • Abosedra, S. and Baghestani, H. (1989). New evidence on the causal relationship between United States energy consumption and gross national product. The Journal of Energy and Development, 14(2), 285-292.
  • Acaravci, A., Erdogan, S. and Akalin, G. (2015). The electricity consumption, real income, trade openness and foreign direct ınvestment: The empirical evidence from Turkey. International Journal of Energy Economics and Policy, 5(4), 1050-1057.
  • Ahmad, M., Zhao, Z. Y., Rehman, A., Shahzad, M. and Li, H. (2019). Revealing long- and short-run empirical interactions among foreign direct investment, renewable power generation, and CO2 emissions in China. Environmental Science and Pollution Research, 26, 22220–22245.
  • Akarca, A. T. and Long, T. V. (1980). On the relationship between energy and GNP: A reexamination. The Journal of Energy and Development, 5(2), 326-331.
  • Arı, A. (2021). Yenilenebilir enerji ve doğrudan yabancı yatırımlar: Türkiye örneği. KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 23(40), 122-131.
  • Bal, H. and Göz, D. (2010). Doğrudan yabancı sermaye yatırımları ve Türkiye. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi, 19(2), 450-467.
  • Banerjee, P., Arčabic, V. and Lee, H. (2017). Fourier ADL cointegration test to approximate smooth breaks with new evidence from crude oil market. Economic Modelling, 67, 114-124.
  • Borensztein, E., De Gregorio, J. and Lee, J. W. (1998). How does foreign direct investment affect economic growth?. Journal of International Economics, 45, 115-135.
  • Bölük, G., Çağlar, A. E. and Mert, M. (2022). Do renewable energy and foreign direct investment promote economic growth in Turkey? An evidence through a nonlinear and asymmetric analysis approach. Journal of Yasar University, 17(66), 415-436.
  • De Mello, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. Journal of Development Studies, 34(1), 1-34.
  • De Mello, L. R. (1999). Foreign direct investment-led growth: Evidence from time series and panel data. Oxford Economic Papers, 51, 133 – 151.
  • Ekwueme, D. C., Zoaka, J. D. and Alola, A. A. (2021). Carbon emission effect of renewable energy utilization, fiscal development, and foreign direct investment in South Africa. Environmental Science and Pollution Research, 28(31), 41821-41833.
  • Emodi, N. V. and Boo, K. J. (2015). Sustainable energy development in Nigeria: Overcoming energy poverty. International Journal of Energy Economics and Policy, 5(2), 580-597.
  • Ericsson, J. and Irandoust, M. (2001). On the causality between foreign direct investment and output: A comparative study. International Trade Journal, 15(1), 122-132.
  • Hepsağ, A. (2022). Ekonometrik zaman serileri analizlerinde güncel yöntemler. Der Yayınları, İstanbul. Hwang, D. B. K. and Gum, B. (1991). The causal relationship between energy and GNP: The case of Taiwan. Journal of Energy Development, 16(2), 219-226.
  • Ibrahiem, D. M. (2015). Renewable electricity consumption, foreign direct investment and economic growth in Egypt: An ARDL approach. Procedia Economics and Finance, 30, 313-323.
  • Kang, X., Khan, F. U., Ullah, R., Arif, M., Rehman, S. U. and Ullah, F. (2021). Does foreign direct investment influence renewable energy consumption? Empirical evidence from South Asian countries. Energies, 14, 1-15.
  • Karimi, M. S. and Yusop, Z. (2009). FDI and Economic Growth in Malaysia. MPRA, 14999.
  • Kraft, J. and Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3 (2), 401-403.
  • Long, N. T. (2020). Do foreign direct investment, energy consumption and urbanization enhance economic growth in six ASEAN countries?. Journal of Asian Finance, Economics and Business, 7(12), 33-42.
  • Mike, F. (2020). Kirlilik sığınağı hipotezi Türkiye için geçerli mi? ARDL sınır testi yaklaşımından bulgular. Doğuş Üniversitesi Dergisi, 21(2), 107-121.
  • Polat, B. (2018). The influence of FDI on energy consumption in developing and developed countries: A dynamic panel data approach. Journal of Yasar University, 13(49), 33-42.
  • Parab, N., Naik, R. and Reddy, Y. V. (2020). Renewable energy, foreign direct investment and sustainable development: An empirical evidence. International Journal of Energy Economics and Policy, 10(5), 479-484.
  • Yu, E. S. and Hwang, B. K. (1984). The relationship between energy and GNP. Energy Economics, 6(3), 186-190.
  • Yurtkuran, S. (2021). Türkiye’de kirlilik sığınağı hipotezi geçerli mi? Fourier eşbütünleşme ve nedensellik yöntemlerinden kanıtlar. Akademik Araştırmalar ve Çalışmalar Dergisi, 13(24), 61-77.
There are 25 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Şerife Merve Koşaroğlu 0000-0002-2563-5753

Halil İbrahim Kaya 0000-0001-8331-0853

Publication Date January 3, 2023
Published in Issue Year 2022

Cite

APA Koşaroğlu, Ş. M., & Kaya, H. İ. (2023). ANALYSIS OF THE RELATIONSHIP BETWEEN RENEWABLE ENERGY AND FOREIGN DIRECT INVESTMENTS FOR TURKEY. Uluslararası Ticaret Ve Ekonomi Araştırmaları Dergisi, 6(2), 52-56. https://doi.org/10.30711/utead.1202239