A New Look to Energy-GDP Nexus: The Comparison of Income and Sustainable Welfare Approaches in Turkey and G7 Countries

Abstract

The purpose of this thesis is to investigate the energy consumption-sustainable welfare nexus in G7 economies and Turkey over the period 2000-2012 and to compare these findings with those obtained from energy consumption growth (GDP) nexus. To this end, empirical models arisen herein are analyzed using Kónya (2006) bootstrap heterogeneous panel causality approach which is developed to produce cross-section results. Findings reveal the existence of conservation hypothesis in France and Turkey, feedback hypothesis in Germany, Italy, Japan and the UK, and neutrality hypothesis in Canada and the US once economic growth is used as development proxy. When sustainable welfare index is used as development proxy, on the other hand, the results indicate the existence of growth hypothesis in Turkey as well as the feedback hypothesis in the G7 economies. These findings confirm that energy-sustainable welfare nexus is robust across G7 countries whereas it varies across member states in the energy-growth nexus. However, findings emphasize the importance of the development proxy in the case of Turkey. Moreover, policy implications based on empirical findings are also discussed.

Keywords

• Energy Consumption,Economic Growth,Sustainable Welfare,Turkey,G7 Countries

Enerji-GSYH İlişkisine Yeni Bir Bakış: Türkiye ve G7 Ülkelerinde Gelir ve Sürdürülebilir Refah Yaklaşımlarının Karşılaştırılması

Abstract

Bu çalışmanın amacı, 2000-2012 döneminde G7 ülkeleri ve Türkiye’de enerji tüketimi-sürdürülebilir refah ilişkisinin analiz edilmesi ve elde edilen bulguların enerji tüketimi-büyüme (gelir) ilişkisiyle karşılaştırılmasıdır. Bu kapsamda kurulan modeller, paneli oluşturan her bir yatay kesite ait sonuçları tahmin etmek için geliştirilen Kónya (2006) bootstrap heterojen panel nedensellik ile analiz edilmiştir. Elde edilen bulgular gelişme göstergesi olarak ekonomik büyüme kullanıldığında Fransa ve Türkiye’de koruma hipotezinin, Almanya, İtalya, Japonya ve Birleşik Krallık’ta geri besleme hipotezinin, Kanada ve ABD’de ise yansızlık hipotezinin geçerli olduğu göstermektedir. Gelişme göstergesi olarak sürdürülebilir refah kullanıldığında ise Türkiye’de büyüme hipotezinin, Kanada, Almanya, İtalya, Japonya, Birleşik Krallık ve ABD’de ise geri besleme hipotezinin geçerli olduğu bulgusuna ulaşılmıştır. Bu sonuçlar, G7 ülkelerinde enerji-sürdürülebilir refah ilişkisinin ülkeden ülkeye değişmediğini, ancak enerji-büyüme ilişkisinin üye devletler arasında farklılık gösterdiğini ifade etmektedir. Çalışmadan elde edilen bulgular, Türkiye ekonomisi için ise gelişme göstergesinin önemine vurgu yapmaktadır. Ayrıca, çalışmadan elde edilen bulgular ışığında politika çıkarımları da tartışılmaktadır.

Keywords

• Enerji Tüketimi,Ekonomik Büyüme,Sürdürülebilir Refah,Türkiye,G7 Ülkeleri

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