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In The Context of ARDL Bound Test Approach, Energy Consumptıon and Energy Prices Effects on Quality of Life

Year 2021, , 263 - 272, 31.12.2021
https://doi.org/10.38009/ekimad.999182

Abstract

Energy has become one of the basic requirements for human welfare and for the sustainability of economic activities. Empirical results from many studies have shown that energy consumption increases economic growth and welfare. There are very few studies in the literature examining the relationship between energy consumption, energy prices and quality of life. The aim of this study is examining the hypothesis of the necessity of increasing the use of energy in order to reduce poverty and quality of life for Turkey. The study contributes to the literature due to the small number of studies conducted in this field and the fact that it investigates the relationship between energy consumption, energy prices and human development index with the help of the Autoregressive Distributed Lags model using current data for the period 1990-2019. Findings demonstrate that energy consumption is important for increasing human welfare and has little response to energy price changes in the long term. In the short term, it was found that the human development index was affected positively by energy consumption in the current period, and negatively affected in one lag, but neutral to energy prices. 

References

  • Antonietti, R., & Fontini, F. (2019). Does energy price affect energy efficiency? Cross-country panel evidence. Energy Policy, 129, 896-906. doi: 10.1016/j.enpol.2019.02.069
  • Bahmanı-Oskooee, M. M. & Goswamı, G. G. (2003). A disaggregated approach to test the j-curve phenomenon: Japan versus her major trading partners. Journal of Economics and Finance, 27(1), 102-113. Retrieved from: https://link.springer.com/content/pdf/10.1007/BF02751593.pdf
  • Dias, R. A., Mattos, C. R., & Balestieri, J. A. (2006). The limits of human development and the use of energy and natural resources. Energy Policy, 34(9), 1026-1031. doi.org/10.1016/j.enpol.2004.09.008
  • Doğan, E.M. & Tatlı, H. (2014). İnsani gelişme ve insani yoksulluk bağlamında Türkiye’nin dünyadaki yeri. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 28(1), 99-124. Retrieved from: https://dergipark.org.tr/en/pub/atauniiibd/issue/2712/35952
  • Ediger, S. E. & Tathdil, H. (2007). Energy as an indicator of human indicator development: a statistical approach. Energy Policy, 35, 2969-2977.
  • Engle, R. F., & Granger, C. W. (1987). Co-integration and error correction: representation, estimation, and testing. Econometrica: journal of the Econometric Society, 251-276.
  • Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration—with appucations to the demand for money. Oxford Bulletin of Economics and statistics, 52(2), 169-210.
  • Koçak, E. (2014). Türkiye'de çevresel kuznets eğrisi hipotezinin geçerliliği: Ardl sınır testi yaklaşımı. İşletme ve İktisat Çalışmaları Dergisi, 2(3), 62-73.
  • Martinez D. M. & Ebenhack B. W. (2008). Understanding the role of energy consumption in human development through the use of saturation phenomena. Energy Policy, 36, 1430-1435. doi: 10.1016/j.enpol.2007.12.016
  • Narayan, P. K. & Narayan, S. (2005). Estimating income and price elasticities of imports for fiji in a cointegration framework. Economic Modelling, 22(3), 423-438. doi:10.1016/j.econmod.2004.06.004
  • Niu, S., Jia, Y., Wang, W., He, R., Hu, L., & Liu, Y. (2013). Electricity consumption and human development level: A comparative analysis based on panel data for 50 countries. International Journal of Electrical Power & Energy Systems, 53, 338-347. doi.org/10.1016/j.ijepes.2013.05.024
  • Ouedraogo, N. S. (2013). Energy consumption and human development: Evidence from a panel cointegration and error correction model. Energy, 63, 28-41. doi:10.1016/j.energy.2013.09.067
  • Pasternak, A. D. (2001). Global energy futures and human development: a framework for analysis. Retrieved from: https://www.osti.gov/etdeweb/servlets/purl/20264287
  • Pesaran, M. H. & B. Pesaran (1997), Working with Microfit 4.0: interactive econometric analysis, Oxford University Press.
  • Pesaran, M. H., Y. Shin & R. J. Smith (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326. doi: 10.1002/jae.616
  • UNDP (2005). Human development report, international cooperation at a crossroads. Retrieved from: http://hdr.undp.org/sites/default/files/reports/266/hdr05_complete.pdf
  • Warr B.S, & Ayres R.U. (2010). Evidence of causality between the quantity and quality of energy consumption and economic growth. Energy, 35, 1688-1693. doi:10.1016/j.energy.2009.12.017
  • Wu, Q., Clulow, V., & Maslyuk, S. (2010). Energy consumption inequality and human development. In 2010 International Conference on Management Science & Engineering 17th Annual Conference Proceedings (p. 1398-1409). IEEE. Retrieved from: https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=5719973&casa_token=2MIi1V3aFKEAAAAA:Vn-lN1ceY_q1fA1un3dEmxruivy8Tt-SjkqHZ_FPGGpMxP0vGp-O2_wehCM6g7dr-nj-h5bpNQ&tag=1
  • Yılancı, V. (2015). Türkiye'de para talebi istikrarlılığının testi: kayan pencerelerde sınır testi yaklaşımı. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 33. Retrieved from: https://dergipark.org.tr/en/download/article-file/55789

ARDL Sınır Testi Yaklaşımı Bağlamında, Enerji Tüketimi ve Enerji Fiyatlarının Yaşam Kalitesi Üzerine Etkisi

Year 2021, , 263 - 272, 31.12.2021
https://doi.org/10.38009/ekimad.999182

Abstract

Enerji hem insanların refahı hem de ekonomik faaliyetlerin sürdürülebilmesi için temel gereksinimlerden biri haline gelmiştir. Birçok çalışmadan elde edilen ampirik sonuçlar enerji tüketiminin ekonomik büyümeyi ve refahı arttırdığını göstermiştir. Literatürde enerji tüketimi, enerji fiyatları-yaşam kalitesi ilişkisini inceleyen çok az sayıda çalışma bulunmaktadır. Bu çalışmanın amacı, yoksulluğun azaltılması ve yaşam kalitesinin arttırılabilmesi için enerji kullanımının gerekliliği hipotezini Türkiye için araştırmaktır. Çalışma, bu alanda yapılan araştırmaların az sayıda olması ve enerji tüketimi, enerji fiyatları ve insani gelişim endeksi arasındaki ilişkiyi 1990-2019 dönemine ait güncel veriler kullanılarak Otoregresif Dağıtılmış Gecikmeler modeli yardımıyla araştırması sebebiyle literatüre katkı sağlamaktadır. Ampirik analizden elde edilen bulgular, uzun dönemde insan refahının artması için enerji tüketiminin önemli olduğunu ve enerji fiyat değişikliklerine çok az tepki verdiğini göstermektedir. Kısa dönemde ise insani gelişim endeksinin enerji tüketiminden cari dönemde olumlu, bir gecikmesinden ise olumsuz etkilendiği ancak enerji fiyatlarına karşı nötr olduğu bulgusu elde edilmiştir.

References

  • Antonietti, R., & Fontini, F. (2019). Does energy price affect energy efficiency? Cross-country panel evidence. Energy Policy, 129, 896-906. doi: 10.1016/j.enpol.2019.02.069
  • Bahmanı-Oskooee, M. M. & Goswamı, G. G. (2003). A disaggregated approach to test the j-curve phenomenon: Japan versus her major trading partners. Journal of Economics and Finance, 27(1), 102-113. Retrieved from: https://link.springer.com/content/pdf/10.1007/BF02751593.pdf
  • Dias, R. A., Mattos, C. R., & Balestieri, J. A. (2006). The limits of human development and the use of energy and natural resources. Energy Policy, 34(9), 1026-1031. doi.org/10.1016/j.enpol.2004.09.008
  • Doğan, E.M. & Tatlı, H. (2014). İnsani gelişme ve insani yoksulluk bağlamında Türkiye’nin dünyadaki yeri. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 28(1), 99-124. Retrieved from: https://dergipark.org.tr/en/pub/atauniiibd/issue/2712/35952
  • Ediger, S. E. & Tathdil, H. (2007). Energy as an indicator of human indicator development: a statistical approach. Energy Policy, 35, 2969-2977.
  • Engle, R. F., & Granger, C. W. (1987). Co-integration and error correction: representation, estimation, and testing. Econometrica: journal of the Econometric Society, 251-276.
  • Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration—with appucations to the demand for money. Oxford Bulletin of Economics and statistics, 52(2), 169-210.
  • Koçak, E. (2014). Türkiye'de çevresel kuznets eğrisi hipotezinin geçerliliği: Ardl sınır testi yaklaşımı. İşletme ve İktisat Çalışmaları Dergisi, 2(3), 62-73.
  • Martinez D. M. & Ebenhack B. W. (2008). Understanding the role of energy consumption in human development through the use of saturation phenomena. Energy Policy, 36, 1430-1435. doi: 10.1016/j.enpol.2007.12.016
  • Narayan, P. K. & Narayan, S. (2005). Estimating income and price elasticities of imports for fiji in a cointegration framework. Economic Modelling, 22(3), 423-438. doi:10.1016/j.econmod.2004.06.004
  • Niu, S., Jia, Y., Wang, W., He, R., Hu, L., & Liu, Y. (2013). Electricity consumption and human development level: A comparative analysis based on panel data for 50 countries. International Journal of Electrical Power & Energy Systems, 53, 338-347. doi.org/10.1016/j.ijepes.2013.05.024
  • Ouedraogo, N. S. (2013). Energy consumption and human development: Evidence from a panel cointegration and error correction model. Energy, 63, 28-41. doi:10.1016/j.energy.2013.09.067
  • Pasternak, A. D. (2001). Global energy futures and human development: a framework for analysis. Retrieved from: https://www.osti.gov/etdeweb/servlets/purl/20264287
  • Pesaran, M. H. & B. Pesaran (1997), Working with Microfit 4.0: interactive econometric analysis, Oxford University Press.
  • Pesaran, M. H., Y. Shin & R. J. Smith (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326. doi: 10.1002/jae.616
  • UNDP (2005). Human development report, international cooperation at a crossroads. Retrieved from: http://hdr.undp.org/sites/default/files/reports/266/hdr05_complete.pdf
  • Warr B.S, & Ayres R.U. (2010). Evidence of causality between the quantity and quality of energy consumption and economic growth. Energy, 35, 1688-1693. doi:10.1016/j.energy.2009.12.017
  • Wu, Q., Clulow, V., & Maslyuk, S. (2010). Energy consumption inequality and human development. In 2010 International Conference on Management Science & Engineering 17th Annual Conference Proceedings (p. 1398-1409). IEEE. Retrieved from: https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=5719973&casa_token=2MIi1V3aFKEAAAAA:Vn-lN1ceY_q1fA1un3dEmxruivy8Tt-SjkqHZ_FPGGpMxP0vGp-O2_wehCM6g7dr-nj-h5bpNQ&tag=1
  • Yılancı, V. (2015). Türkiye'de para talebi istikrarlılığının testi: kayan pencerelerde sınır testi yaklaşımı. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 33. Retrieved from: https://dergipark.org.tr/en/download/article-file/55789
There are 19 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Sena Türkmen 0000-0002-8334-6466

Mustafa Naimoğlu 0000-0001-9684-159X

Publication Date December 31, 2021
Submission Date September 22, 2021
Published in Issue Year 2021

Cite

APA Türkmen, S., & Naimoğlu, M. (2021). In The Context of ARDL Bound Test Approach, Energy Consumptıon and Energy Prices Effects on Quality of Life. Ekonomi İşletme Ve Maliye Araştırmaları Dergisi, 3(3), 263-272. https://doi.org/10.38009/ekimad.999182