Internet Usage, Economic Growth and Electricity Consumption: The Case of EU-15

Abstract

The purpose of this study is to examine the impacts of internet usage and economic growth on electricity consumption in EU-15 countries. In this study using panel cointegration test developed by Westerlund and Edgerton (2007), the existence of a cointegration relationship in both the constant model and the constant and trend model is proved. The findings obtained by using the panel cointegration method indicate that internet usage and economic growth have a significant impact on electricity consumption in the long run. After identifying the existence of a panel cointegration relationship in EU-15 countries, the long-run cointegration coefficients were obtained with the Augmented Mean Group estimators developed by Eberhard and Bond (2009), Eberhardt and Teal (2010). The long-run coefficient results demonstrate that a change in internet usage for all EU-15 countries can reduce electricity consumption at a very low rate, but a change in economic growth increases electricity consumption. The country-based empirical findings suggest that the impact of internet usage and economic growth on electricity consumption varies in different countries.

Keywords

• Electricity Consumption
• Internet Usage
• Economic Growth
• EU-15 Countries
• Panel Data Analysis

İnternet Kullanımı, Ekonomik Büyüme ve Elektrik Tüketimi: EU-15 Örneği

Abstract

Bu çalışmanın amacı EU-15 ülkelerinde internet kullanımı ve ekonomik büyümenin elektrik tüketimi üzerindeki etkilerini araştırmaktadır. Westerlund ve Edgerton (2007) tarafından geliştirilen panel eşbütünleşme testinin kullanıldığı bu çalışmada hem sabitli model hem de sabitli ve trendli modelde bir eşbütünleşme ilişkisinin varlığı kanıtlanmaktadır. Panel eşbütünleşme analiz yönteminden yararlanılarak elde edilen bulgular uzun dönemde internet kullanımı ve ekonomik büyümenin elektrik tüketimi üzerinde anlamlı bir etkisinin olduğunu göstermektedir. EU-15 ülkelerinde panel eşbütünleşme ilişkisinin varlığı belirlendikten sonra uzun dönem eşbütünleşme katsayıları Eberhard ve Bond (2009), Eberhardt ve Teal (2010) tarafından geliştirilen Genelleştirilmiş Ortalama Grup tahmincileri ile elde edilmiştir. Uzun dönem katsayı sonuçları EU-15 ülkelerinin tamamı için internet kullanımında meydana gelen bir değişimin elektrik tüketimini çok küçük bir oranda da olsa azaltabileceği ancak ekonomik büyümede meydana gelen bir değişimin ise elektrik tüketimini arttırdığını göstermektedir. Elde edilen ülke bazlı ampirik bulgular internet kullanımı ve ekonomik büyümenin elektrik tüketimi üzerindeki etkisinin ülkeden ülkeye farklılıklar içerdiğini göstermektedir.

Keywords

• Elektrik Tüketimi
• İnternet Kullanımı
• AB-15 Ülkeleri
• Panel Veri Analizi
• Ekonomik Büyüme

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