YENİ SANAYİLEŞMİŞ ÜLKELERDE YENİLENEBİLİR ENERJİ VE İNSANİ GELİŞMENİN EKONOMİK BÜYÜMEYE KATKISI

Year 2025, Volume: 8 Issue: 1, 46 - 61, 30.06.2025

Fatih Akın , Selin Dinçer

https://doi.org/10.46737/emid.1689871

Abstract

Bu çalışmada 1990-2022 döneminde yeni sanayileşmiş ülkelerde (NIC) (Brezilya, Çin, Hindistan, Endonezya, Malezya, Meksika, Filipinler, Güney Afrika, Tayland, Türkiye) yenilenebilir enerji ve HDI düzeyinin ekonomik büyüme üzerindeki etkisi Artırılmış Ortalama Grup (AMG) tahmincisi ve Juodis, Karavias & Sarafidis (JKS, 2021) Granger nedensellik analizi ile incelenmiştir. LM Bootstrap Panel Eşbütünleşme testi sonuçları yenilenebilir enerji, HDI ve ekonomik büyüme değişkenleri arasında uzun dönemli bir ilişki olduğunu ortaya koymaktadır. Panel AMG tahmin sonuçları panel genelinde yenilenebilir enerji ve HDI düzeyinin ekonomik büyüme üzerinde pozitif ve anlamlı etkisi olduğunu göstermektedir. Ülkelere göre sonuçlar Çin, Hindistan, Endonezya ve Türkiye’de yenilenebilir enerjinin büyüme üzerinde anlamlı ve pozitif bir etkisi olduğunu göstermektedir. Ayrıca, Güney Afrika hariç tüm ülkelerde HDI düzeyinin büyüme üzerinde pozitif ve istatistiksel olarak anlamlı bir etkisi olduğunu göstermektedir. JKS Granger nedensellik testi sonuçları ise HDI ile ekonomik büyüme arasında ve HDI ile yenilenebilir enerji arasında çift yönlü nedensellik bulunduğunu ortaya koymaktadır. Ayrıca ekonomik büyümeden yenilenebilir enerjiye doğru tek yönlü nedensellik tespit edilmiştir. Bulgular, NIC ülkelerinde yenilenebilir enerji ve HDI değerinin ekonomik büyüme üzerinde önemli rol oynadığını vurgulamaktadır.

Keywords

Yenilenebilir Enerji , İnsani Gelişme Endeksi , Ekonomik Büyüme , NIC Ülkeleri.

CONTRIBUTION OF RENEWABLE ENERGY AND HUMAN DEVELOPMENT TO ECONOMIC GROWTH IN NEWLY INDUSTRIALISED COUNTRIES

Abstract

In this study, the impact of renewable energy and HDI level on economic growth in newly industrialised countries (NICs) (Brazil, China, India, Indonesia, Malaysia, Mexico, Philippines, South Africa, Thailand, Türkiye) in the period 1990-2022 is examined with the Augmented Mean Group (AMG) estimator and Juodis, Karavias & Sarafidis (JKS, 2021) Granger causality analysis. The results of the LM Bootstrap Panel Cointegration test reveal that there is a long-run relationship between renewable energy, the HDI, and economic growth variables. Panel AMG estimation results show that renewable energy and HDI levels have a positive and significant effect on economic growth across the panel. The results by countries show that renewable energy has a significant and positive effect on economic growth in China, India, Indonesia, and Türkiye. In addition, the HDI level has a positive and statistically significant effect on growth in all countries except South Africa. The JKS Granger causality test results reveal that there is bidirectional causality between HDI and economic growth and between HDI and renewable energy. In addition, unidirectional causality was found from economic growth to renewable energy. The findings emphasise that renewable energy and HDI play an important role in economic growth in NIC countries.

Keywords

Renewable Energy , Human Development Index , Economic Growth , NIC Countries.

References

• Abraham, T. W., & Ahmed, U. A. (2011). “Economic Growth and Human Development Index in Nigeria: An Error Correction Model Approach”. International Journal of Administration and Development Studies, 2(1): 239-254.
• Apergis, N., & Payne, J. E. (2010). “Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries”. Energy Policy, 38(1): 656-660.
• Azam, A., Rafiq, M., Shafique, M., Zhang, H., Ateeq, M., & Yuan, J. (2021). “Analyzing the Relationship Between Economic Growth and Electricity Consumption from Renewable and Non-Renewable Sources: Fresh Evidence from Newly Industrialized Countries”. Sustainable Energy Technologies and Assessments, 44: 100991.
• Bersvendsen, T., & Ditzen, J. (2020). “Estimating Dynamic Panel Models with Heterogeneous Slopes”. Econometrics Journal, 23(1): 1-22.
• Bhattacharya, M., Paramati, S. R., Ozturk, I., & Bhattacharya, S. (2016). “The Effect of Renewable Energy Consumption on Economic Growth: Evidence From Top 38 Countries”. Applied Energy, 162: 733-741.
• Breusch, T. S., & Pagan, A. R. (1980). “The Lagrange Multiplier Test and its Applications to Model Specification in Econometrics”. The Review of Economic Studies, 47(1): 239-253.
• Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D., & Trembling, A. (2015). “Renewable Energy and Growth: Evidence from Heterogeneous Panel of G7 Countries Using Granger Causality”. Renewable and Sustainable Energy Reviews, 52: 1405-1412.
• Corporate Finance Institute (2025). Newly Industrialized Country (NIC). https://corporatefinanceinstitute.com/resources/economics/newly-industrialized-country-nic/ Erişim Tarihi: 20.03.2025.
• De Hoyos, R. E., & Sarafidis, V. (2006). “Testing for Cross-Sectional Dependence in Panel Data Models”. The Stata Journal, 6(4): 482-496.
• Dhaene, G. ve Jochmans, K. (2015). ‘‘Split-Panel Jackknife Estimation of Fixed-Effect Models’’. The Review of Economic Studies, 82(3): 991-1030.
• Dinçer, S. (2025). “Alternative Renewable Energy Sources in the Context of Global Energy Crisis and Sustainable Environment”. Kapanaltı Dergisi (7):19-30.
• Eberhardt, M. ve Bond, S. (2009). “Cross-Section Dependence in Nonstationary Panel Models: A Novel Estimator”. MPRA Paper No. 17692.
• Elistia, E., & Syahzuni, B. A. (2018). “The Correlation of the Human Development Index (HDI) Towards Economic Growth (GDP per capita) in 10 ASEAN Member Countries”. Journal of Humanities and Social Studies, 2(2): 40-46.
• Fan, W., & Hao, Y. (2020). “An Empirical Research on the Relationship Amongst Renewable Energy Consumption, Economic Growth and Foreign Direct Investment in China”. Renewable Energy, 146: 598-609.
• Gulcemal, T. (2020). “Effect of Human Development Index on GDP for Developing Countries: A Panel Data Analysis”. Journal of Economics Finance and Accounting, 7(4): 338-345.
• Guliyev, H., & Tatoğlu, F. Y. (2023). “The Relationship Between Renewable Energy and Economic Growth in European Countries: Evidence from Panel Data Model with Sharp and Smooth Changes”. Renewable Energy Focus, (46): 185-196.
• Gyimah, J., Yao, X., Tachega, M. A., Hayford, I. S., & Opoku-Mensah, E. (2022). “Renewable Energy Consumption and Economic Growth: New Evidence from Ghana”. Energy, 248: 123559.
• Hanushek, E. A., & Woessmann, L. (2010). “Education and Economic Growth”. Economics of Education, (60) 67:1.
• Hasan, Z. (2021). “The Effect of Economic Growth and Human Development Index on Poverty in Indonesia”. Journal of Economics and Sustainability, 3(1): 12-12.
• Hoa, P. T., & Phuoc, N. K. (2016). “Human Development Index Impact on Economic Growth”. Ho Chi Minh City Open University Journal of Science-Economics and Business Administration, 6(1): 3-13.
• Inglesi-Lotz, R. (2016). “The impact of Renewable Energy Consumption to Economic Growth: A Panel Data Application”. Energy Economics, 53: 58-63.
• International Energy Agency. (2024). Renewable Energy Consumption Per Capita (kWh). https://www.iea.org, Erişim Tarihi: 10.02.2025.
• Juodis, A., Karavias, Y., & Sarafidis, V. (2021). “A Homogeneous Approach to Testing for Granger Non-Causality in Heterogeneous Panels. Empirical Economics, 60(1): 93-112.
• Kaewnern, H., Wangkumharn, S., Deeyaonarn, W., Yousaf, A. U., & Kongbuamai, N. (2023). “Investigating the Role of Research Development and Renewable Energy on Human Development: An Insight from the Top Ten Human Development Index Countries”. Energy, 262: 125540.
• Karimi Alavijeh, N., Ahmadi Shadmehri, M. T., Esmaeili, P., & Dehdar, F. (2024). “Asymmetric Impacts of Renewable Energy on Human Development: Exploring the Role of Carbon Emissions, Economic Growth, and Urbanization in European Union Countries”. Journal of the Knowledge Economy, 1-25.
• Khan, N. H., Ju, Y., & Hassan, S. T. (2019). “The Determinants of Human Development Index in Pakistan: An Empirical Analysis”. Environmental Science and Pollution Research, 26: 19294-19304.
• Minh, T. B., & Van, H. B. (2023). “Evaluating the Relationship Between Renewable Energy Consumption and Economic Growth in Vietnam, 1995–2019”. Energy Reports, 9: 609-617.
• Ogujiuba, K., Maponya, L., & Stiegler, N. (2024). Determinants of Human Development Index in South Africa: A Comparative Analysis of Different Periods”. World, (5): 527–550.
• Pesaran, M. H. (2004). “General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics” Faculty of Economics, (No. 0435). University of Cambridge.
• Pesaran, M. H. (2007). “A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence”. Journal of Applied Econometrics, 22(2): 265-312.
• Pesaran, M. H. ve Yamagata, T. (2008). “Testing Slope Homogeneity in Large Panels. Journal of Econometrics”, 142(1): 50-93.
• Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). “A Bias-Adjusted LM Test of Error Cross Section Independence”. The Econometrics Journal, 11(1): 105-127.
• Qudrat-Ullah, H., & Nevo, C. M. (2021). “The Impact of Renewable Energy Consumption and Environmental Sustainability on Economic Growth in Africa”. Energy Reports, 7: 3877-3886.
• Ranis, G., Stewart, F., & Ramirez, A. (2000). “Economic Growth and Human Development”. World Development, 28(2): 197-219.
• Sarafidis, V., & Wansbeek, T. (2012). “Cross-sectional Dependence in Panel Data Analysis”. Econometric Reviews, 31(5): 483-531.
• Sarkodie, S. A., & Adams, S. (2020). “Electricity Access, Human Development Index, Governance and Income Inequality in Sub-Saharan Africa”. Energy Reports, 6: 455-466.
• Sasmaz, M. U., Sakar, E., Yayla, Y. E., & Akkucuk, U. (2020). “The Relationship Between Renewable Energy and Human Development in OECD Countries: A Panel Data Analysis”. Sustainability, 12(18): 7450.
• Singal, M., & Wokutch, R. (2018). “Newly industrialized countries (NICs)”. SAGE Publications, 7: 2472-2473.
• Ślusarczyk, B., Żegleń, P., Kluczek, A., Nizioł, A., & Górka, M. (2022). “The Impact of Renewable Energy Sources on the Economic Growth of Poland and Sweden Considering COVID-19 Times”. Energies, 15(1): 332.
• Swamy, P. A. V. B. (1970). “Efficient Inference in a Random Coefficient Regression Model”. Econometrica, 38(2): 311-323.
• Taqi, M., e Ali, M. S., Parveen, S., Babar, M., & Khan, I. M. (2021). “An Analysis of Human Development Index and Economic Growth. A Case Study of Pakistan”. iRASD Journal of Economics, 3(3): 261-271.
• Tiba, S., & Omri, A. (2017). “Literature Survey on the Relationships Between Energy, Environment and Economic Growth”. Renewable and Sustainable Energy Reviews, 69: 1129-1146.
• Tuğcu, C. T. (2018). “Panel Data Analysis in Macroeconomics: Cross-Sectional Dependence and its Implications”, Journal of Economic Surveys, 32(3): 719-748.
• United Nations Development Programme (UNDP). (2025). Human Development Index (HDI). https://hdr.undp.org/data-center/human-development-index#/indicies/HDI, Erişim Tarihi: 10.02.2025.
• Wang, Z., Zhang, B., & Wang, B. (2018). “Renewable Energy Consumption, Economic Growth and Human Development Index in Pakistan: Evidence form Simultaneous Equation Model”. Journal of Cleaner Production, 184: 1081-1090.
• Westerlund, J., & Edgerton, D. L. (2007). “A Panel Bootstrap Cointegration Test”. Economics Letters 97(3): 185-190.
• World Bank. (2025). Gross Domestic Product Per Capita (Constant 2015 US$). https://data.worldbank.org, Erişim Tarihi: 10.02.2025.
• Xiao, J., Juodis, A., Karavias, Y., Sarafidis, V., ve Ditzen, J. (2023). “Improved Tests for Granger Noncausality in Panel Data”. The Stata Journal, 23 (1): 230-242.
• Yang, L., Zhou, X., & Feng, X. (2022). “Renewable Energy led Economic Growth Hypothesis: Evidence from Novel Panel Methods for N-11 Economies”. Renewable Energy, 197: 790-797.
• Yildirim, E., Saraç, Ş., & Aslan, A. (2012). “Energy Consumption and Economic Growth in the USA: Evidence From Renewable Energy”. Renewable and Sustainable Energy Reviews, 16(9): 6770-6774.