Türkiye’de petrol tüketimi ve ekonomik büyüme ilişkisi üzerine bir Fourier yaklaşımı
Year 2025,
Issue: 71, 21 - 26, 30.08.2025
Mustafa Saatçi
,
Yasemin Dumrul
Abstract
Enerji, sürdürülebilir ekonomik kalkınmanın temel unsurlarından biri olup, enerji akışları ve dönüşümleri ekonomik faaliyetler üzerinde belirleyici bir etkiye sahiptir. Özellikle petrol, küresel enerji piyasasında stratejik bir konuma sahip olmayı sürdürmekte ve geniş kullanım alanı sayesinde birçok sektör için önemli bir enerji kaynağı olarak öne çıkmaktadır. Bu çalışmada, Türkiye’de petrol tüketimi ile ekonomik büyüme arasındaki ilişki 1971-2021 dönemi için Fourier Engle-Granger eş-bütünleşme testi ve Fourier Enders-Jones Granger nedensellik testi ile analiz edilmiştir. Eş-bütünleşme testi sonuçlarına göre petrol tüketimi ile ekonomik büyüme arasında uzun dönemli bir ilişki bulunmaktadır. Nedensellik testi sonuçları geri besleme hipotezinin geçerliliğini ortaya koymaktadır.
References
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Alam, M. S., & Paramati, S. R. (2015). Do oil consumption and economic growth intensify environmental degradation? Evidence from developing economies. Applied Economics, 47(48), 5186-5203. https://doi.org/10.1080/00036846.2015.1044647
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Almulali, U. (2011). Oil consumption, co2 emission and economic growth in MENA Countries. Energy, 36, 6165-6171. https://doi.org/10.1016/j.energy.2011.07.048
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Altinay, G., & Karagol, E.T. (2004). Structural break, unit root, and the causality between energy consumption and gdp in Turkey. Energy Economics, 26(6), 985-994. https://doi. org/10.1016/j.eneco.2004.07.001
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Behmiri, N. B., & Manso, J. R. P. (2012). Crude oil conservation policy hypothesis in OECD (organisation for economic cooperation and development) countries: A multivariate panel Granger causality test. Energy, 43, 253-260. https://doi.org/10.1016/j. energy.2012.04.032
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Behmiri, N. B., & Manso, J. R. P. (2013). How crude oil consumption impacts on economic growth of Sub-Saharan Africa?. Energy, 54, 74-83. https://doi.org/10.1016/j. energy.2013.02.052
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Bhusal, T. P. (2010). Econometric analysis of oil consumption and economic growth in Nepal. Economic Journal of Development Issues, 11-12(1-2), 135-143. https://doi. org/10.3126/ejdi.v11i0.6112
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Bildirici, M. E., & Kayıkçı, F. (2013). Effects of oil production on economic growth in Eurasian countries: Panel ARDL approach. Energy, 49, 156-161. https://doi. org/10.1016/j.energy.2012.10.047
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Choi, H. Y., & Yoo, S. H. (2016). Oil consumption and economic growth: The case of Brazil. Energy Sources, Part B: Economics, Planning, and Policy, 11(8), 705-710. https://doi. org/10.1080/15567249.2012.740144
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Daly, H., Abdulrahman, B. M. A., Ahmed, S. A. K., Abdallah, A. E. Y., Elkarim, S. H. E. H., Sahal, M. S. G., ..., & Elshaabany, M. M. (2024). The dynamic relationships between oil products consumption and economic growth in Saudi Arabia: Using ARDL cointegration and Toda-Yamamoto Granger causality analysis. Energy Strategy Reviews, 54, 101470. https://doi.org/10.1016/j.esr.2024.101470
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Dumrul, C. (2010). Türk ekonomisinde para ikamesinin belirleyicilerinin sınır testi yaklaşımı ile eş-bütünleşme analizi. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35, 199-231.
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Emmanuel, P. M., Ugwunna, O. T., Azodo, C. C., & Adewumi, O. D. (2024). Low-carbon energy transition in oil-dependent African countries: implication on fiscal revenue. International Journal of Energy Sector Management. DOI 10.1108/ IJESM-08-2023-0026
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Enders W., & Jones P (2016) Grain prices, oil prices, and multiple smooth breaks in a VAR. Stud Nonlinear Dyn Econom., 20, 399-419. https://doi.org/10.1515/snde-2014-0101
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Fuinhas, J. A., & Marques, A. C. (2012). An ARDL Approach to the Oil and Growth Nexus: Portuguese Evidence, Energy Sources Part B, 7, 282-291. https://doi.org/10.1080/155 67249.2011.565298
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Ghalayini, L. (2011). The interaction between oil price and economic growth, Middle Eastern Finance and Economics, 13, 127-140.
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Ghazouani, T., & Maktouf, S. (2024). Impact of natural resources, trade openness, and economic growth on CO2 emissions in oil‐exporting countries: A panel autoregressive distributed lag analysis. In Natural resources forum (Vol. 48, No. 1, pp. 211-231). Oxford, UK: Blackwell Publishing Ltd. https://doi.org/10.1111/1477-8947.12318
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Hanabusa, K. (2009), Causality relationship between the oil price and economic growth in Japan, Energy Policy, 37, 1953-1957.
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Hoa, T. V. (1993). Effects of oil on output growth and inflation in developing countries: The case of Thailand from January 1966 to January 1991. International Journal of Energy Research, 17, 29-33. https://doi.org/10.1002/er.4440170105
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Karagol, E., & Erbaykal, E. (2006). Oil consumption and GNP relationship in Turkey: An emprical study, http://eco.ieu.edu.tr/wp-content/proceedings/2006/0630.pdf
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Lahiani, A., Benkraiem, R., Miloudi, A., & Shahbaz, M. (2019). New evidence on the relationship between crude oil consumption and economic growth in the US: a quantile causality and cointegration approach. Journal of Quantitative Economics, 17, 397-420. https://doi.org/10.1007/s40953-018-0147-2
-
Lee, J., & Strazicich, M.C. (2003). Minimum lagrange multiplier unit root test with two structural breaks. Review of Economics and Statistics, 85(4), 1082-1089. https://doi. org/10.1162/003465303772815961
-
Lorde, T., Jackman, M., & Thomas, C. (2009). The macroeconomic effects of oil price fluctuations on a small open oil-producing country: The case of Trinidad and Tobago. Energy Policy, 37, 2708-2716. https://doi.org/10.1016/j.enpol.2009.03.004
-
Narayan, P. K., & Narayan, S. (2010). Modelling the ımpact of oil prices on Vietnam’s stock prices. Applied Energy, 87, 356-361. https://doi.org/10.1016/j.apenergy.2009.05.037
-
Narayan, P. K., & Wong, P. (2009). A panel data analysis of the determinants of oil consumption: The case of Australia. Applied Energy, 86, 2771-2775. https://doi. org/10.1016/j.apenergy.2009.04.035
-
Park, S.-Y., & Yoo, S.-H. (2014). The dynamics of oil consumption and economic growth in Malaysia. Energy Policy, 66, 218-223. https://doi.org/10.1016/j.enpol.2013.10.059
-
Pindyck, R. S. (1979). Interfuel substitution and the ındustrial demand for energy: An international comparison. The Review of Economics and Statistics, 61(2), 169-179. https://doi.org/10.2307/1924584
-
Prasad, A., Narayan, P.K., & Narayan, J. (2007). Exploring the oil price and real GDP Nexus for a small Island economy, The Fiji Islands. Energy Policy, 35, 6506-6513. https://doi. org/10.1016/j.enpol.2007.07.032
-
Rahman, S., Amin, S. B., & Khan, F. (2018). The relationship between oil consumption and economic growth in Bangladesh: An empirical analysis. World review of business research, 8(3), 24-36.
-
Riaz, T. (1987). Energy and economic growth: A case study of Pakistan. Energy Economics, 9(3), 195-204. https://doi.org/10.1016/0140-9883(87)90027-2
-
Royfaizal, R. G. (2009). Crude oil consumption and economic growth: Empirical evidence from Japan. Integration & Dissemination, 4, 87-93.
-
Sağlam, Y. (2018). Fisher hipotezi’nin fourier yaklaşımı ile testi: Gelecek-11 ülke grubu Örneği. Yaşar Üniversitesi E-Dergisi, 13(52), 316-321.
-
Shaari, M. S., Abidin, N. Z., Esquivias, M. A., Abd Rani, M. J., Majekodunmi, T. B., & Sulong, A. (2024). Analyzing the environmental impact of fuel switching: Evidence from ARDL analysis for policy considerations. Sustainable Futures, 100317. https:// doi.org/10.1016/j.sftr.2024.100317
-
Sharma, S. S. (2010). The relationship between energy and economic growth: Emprical evidence from 66 countries. Applied Energy, 87(11), 3565-3574. https://doi. org/10.1016/j.apenergy.2010.06.015
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Terzi, H., & Pata, U. K. (2016). The effect of oil consumption on economic growth in Turkey. Doğuş Üniversitesi Dergisi, 17(2), 225-240.
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Uğurlu E. & Ünsal, A. (2009). Ham petrol ithalatı ve ekonomik büyüme: Türkiye, 10. Ekonometri ve İstatistik Sempozyumu, Erzurum, 27-29 May 2009 (Elektronik basım).
-
Ulusoy, V. (2006). Ekonomik büyüme ve enerji tüketimi: Bir ekonometrik uygulama. Türkiye’de Enerji ve Kalkınma Sempozyumu, 147-154.
-
Waleed, A., Akhtar, A., & Pasha, A. T. (2018). Oil consumption and economic growth: Evidence from Pakistan. Energy Sources, Part B: Economics, Planning, and Policy, 13(2), 103-108. https://doi.org/10.1080/15567249.2017.1354100
-
Yilanci, V. (2019). A Residual-based cointegration test with a fourier approximation. https:// mpra.ub.unimuenchen.de/95395/
-
Yılancı, V., & Eriş, Z. A. (2013). Purchasing power parity in African Countries: Further evidence from fourier unit root tests based on linear and nonlinear models. South African Journal of Economics, 81(1), 20-34. https://doi.org/10.1111/j.1813-6982.2012.01326.x
-
Yoo, S. H. (2006). Oil consumption and economic growth: evidence from Korea. Energy Sources, 1(3), 235-243. https://doi.org/10.1080/009083190881599
-
Zaman, B.-U., Farooq, M., & Ulah, S. (2011). Sectoral oil consumption and economic growth in Pakistan: An ECM approach. American Journal of Scientific and Industrial Research, 2(2), 149-156.
-
Zhao, C-H., Kang, J-G., & Yuan, J. (2008). Oil consumption and economic growth in China: A multivariate cointegration analysis. The 2008 International Conference on Risk Management & Engineering Management, 178-183.
-
Zikovic, S., & Vlahinic-Dizdarevic, N. (2009). Oil consumption and economic growth interdependence in small european countries. Halduskultuur–Administrative Culture Conference Small States And The ‘State’ 24‐25 April, Tallinn, Estonia 1-11.
-
Ziramba, E. (2015). Causal dynamics between oil consumption and economic growth in South Africa. Energy Sources, Part B: Economics, Planning, and Policy, 10(3), 250- 256. https://doi.org/10.1080/15567249.2010.540626
-
Zou, G., & Chau, K. W. (2006). Short and long run effects between oil consumption and economic growth in China. Energy Policy, 34(18), 3644-3655. https://doi. org/10.1016/j.enpol.2005.08.009
A Fourier approach on the relationship between oil consumption and economic growth in Türkiye
Year 2025,
Issue: 71, 21 - 26, 30.08.2025
Mustafa Saatçi
,
Yasemin Dumrul
Abstract
Energy is one of the fundamental elements of sustainable economic development, with energy flows and transformations exerting a decisive impact on economic activities. Particularly, oil continues to hold a strategic position in the global energy market and stands out as a significant energy source for various sectors due to its wide range of applications. This study analyzes the relationship between oil consumption and economic growth in Turkey for the period from 1971 to 2021 using the Fourier Engle-Granger cointegration test and the Fourier Enders-Jones Granger causality test. The cointegration test results indicate a long-term relationship between oil consumption and economic growth. The causality test results support the validity of the feedback hypothesis.
References
-
Aktaş, C., & Yılmaz, V. (2008). Causal relationship between oil consumption and economic growth in Turkey. Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 15(1), 45-55.
-
Alam, M. S., & Paramati, S. R. (2015). Do oil consumption and economic growth intensify environmental degradation? Evidence from developing economies. Applied Economics, 47(48), 5186-5203. https://doi.org/10.1080/00036846.2015.1044647
-
Almulali, U. (2011). Oil consumption, co2 emission and economic growth in MENA Countries. Energy, 36, 6165-6171. https://doi.org/10.1016/j.energy.2011.07.048
-
Altinay, G., & Karagol, E.T. (2004). Structural break, unit root, and the causality between energy consumption and gdp in Turkey. Energy Economics, 26(6), 985-994. https://doi. org/10.1016/j.eneco.2004.07.001
-
Behmiri, N. B., & Manso, J. R. P. (2012). Crude oil conservation policy hypothesis in OECD (organisation for economic cooperation and development) countries: A multivariate panel Granger causality test. Energy, 43, 253-260. https://doi.org/10.1016/j. energy.2012.04.032
-
Behmiri, N. B., & Manso, J. R. P. (2013). How crude oil consumption impacts on economic growth of Sub-Saharan Africa?. Energy, 54, 74-83. https://doi.org/10.1016/j. energy.2013.02.052
-
Bhusal, T. P. (2010). Econometric analysis of oil consumption and economic growth in Nepal. Economic Journal of Development Issues, 11-12(1-2), 135-143. https://doi. org/10.3126/ejdi.v11i0.6112
-
Bildirici, M. E., & Kayıkçı, F. (2013). Effects of oil production on economic growth in Eurasian countries: Panel ARDL approach. Energy, 49, 156-161. https://doi. org/10.1016/j.energy.2012.10.047
-
Choi, H. Y., & Yoo, S. H. (2016). Oil consumption and economic growth: The case of Brazil. Energy Sources, Part B: Economics, Planning, and Policy, 11(8), 705-710. https://doi. org/10.1080/15567249.2012.740144
-
Daly, H., Abdulrahman, B. M. A., Ahmed, S. A. K., Abdallah, A. E. Y., Elkarim, S. H. E. H., Sahal, M. S. G., ..., & Elshaabany, M. M. (2024). The dynamic relationships between oil products consumption and economic growth in Saudi Arabia: Using ARDL cointegration and Toda-Yamamoto Granger causality analysis. Energy Strategy Reviews, 54, 101470. https://doi.org/10.1016/j.esr.2024.101470
-
Dumrul, C. (2010). Türk ekonomisinde para ikamesinin belirleyicilerinin sınır testi yaklaşımı ile eş-bütünleşme analizi. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35, 199-231.
-
Emmanuel, P. M., Ugwunna, O. T., Azodo, C. C., & Adewumi, O. D. (2024). Low-carbon energy transition in oil-dependent African countries: implication on fiscal revenue. International Journal of Energy Sector Management. DOI 10.1108/ IJESM-08-2023-0026
-
Enders W., & Jones P (2016) Grain prices, oil prices, and multiple smooth breaks in a VAR. Stud Nonlinear Dyn Econom., 20, 399-419. https://doi.org/10.1515/snde-2014-0101
-
Fuinhas, J. A., & Marques, A. C. (2012). An ARDL Approach to the Oil and Growth Nexus: Portuguese Evidence, Energy Sources Part B, 7, 282-291. https://doi.org/10.1080/155 67249.2011.565298
-
Ghalayini, L. (2011). The interaction between oil price and economic growth, Middle Eastern Finance and Economics, 13, 127-140.
-
Ghazouani, T., & Maktouf, S. (2024). Impact of natural resources, trade openness, and economic growth on CO2 emissions in oil‐exporting countries: A panel autoregressive distributed lag analysis. In Natural resources forum (Vol. 48, No. 1, pp. 211-231). Oxford, UK: Blackwell Publishing Ltd. https://doi.org/10.1111/1477-8947.12318
-
Hanabusa, K. (2009), Causality relationship between the oil price and economic growth in Japan, Energy Policy, 37, 1953-1957.
-
Hoa, T. V. (1993). Effects of oil on output growth and inflation in developing countries: The case of Thailand from January 1966 to January 1991. International Journal of Energy Research, 17, 29-33. https://doi.org/10.1002/er.4440170105
-
IEA (2023). https://www.iea.org/reports/world-energy-outlook-2023/regional-insights
-
Karagol, E., & Erbaykal, E. (2006). Oil consumption and GNP relationship in Turkey: An emprical study, http://eco.ieu.edu.tr/wp-content/proceedings/2006/0630.pdf
-
Lahiani, A., Benkraiem, R., Miloudi, A., & Shahbaz, M. (2019). New evidence on the relationship between crude oil consumption and economic growth in the US: a quantile causality and cointegration approach. Journal of Quantitative Economics, 17, 397-420. https://doi.org/10.1007/s40953-018-0147-2
-
Lee, J., & Strazicich, M.C. (2003). Minimum lagrange multiplier unit root test with two structural breaks. Review of Economics and Statistics, 85(4), 1082-1089. https://doi. org/10.1162/003465303772815961
-
Lorde, T., Jackman, M., & Thomas, C. (2009). The macroeconomic effects of oil price fluctuations on a small open oil-producing country: The case of Trinidad and Tobago. Energy Policy, 37, 2708-2716. https://doi.org/10.1016/j.enpol.2009.03.004
-
Narayan, P. K., & Narayan, S. (2010). Modelling the ımpact of oil prices on Vietnam’s stock prices. Applied Energy, 87, 356-361. https://doi.org/10.1016/j.apenergy.2009.05.037
-
Narayan, P. K., & Wong, P. (2009). A panel data analysis of the determinants of oil consumption: The case of Australia. Applied Energy, 86, 2771-2775. https://doi. org/10.1016/j.apenergy.2009.04.035
-
Park, S.-Y., & Yoo, S.-H. (2014). The dynamics of oil consumption and economic growth in Malaysia. Energy Policy, 66, 218-223. https://doi.org/10.1016/j.enpol.2013.10.059
-
Pindyck, R. S. (1979). Interfuel substitution and the ındustrial demand for energy: An international comparison. The Review of Economics and Statistics, 61(2), 169-179. https://doi.org/10.2307/1924584
-
Prasad, A., Narayan, P.K., & Narayan, J. (2007). Exploring the oil price and real GDP Nexus for a small Island economy, The Fiji Islands. Energy Policy, 35, 6506-6513. https://doi. org/10.1016/j.enpol.2007.07.032
-
Rahman, S., Amin, S. B., & Khan, F. (2018). The relationship between oil consumption and economic growth in Bangladesh: An empirical analysis. World review of business research, 8(3), 24-36.
-
Riaz, T. (1987). Energy and economic growth: A case study of Pakistan. Energy Economics, 9(3), 195-204. https://doi.org/10.1016/0140-9883(87)90027-2
-
Royfaizal, R. G. (2009). Crude oil consumption and economic growth: Empirical evidence from Japan. Integration & Dissemination, 4, 87-93.
-
Sağlam, Y. (2018). Fisher hipotezi’nin fourier yaklaşımı ile testi: Gelecek-11 ülke grubu Örneği. Yaşar Üniversitesi E-Dergisi, 13(52), 316-321.
-
Shaari, M. S., Abidin, N. Z., Esquivias, M. A., Abd Rani, M. J., Majekodunmi, T. B., & Sulong, A. (2024). Analyzing the environmental impact of fuel switching: Evidence from ARDL analysis for policy considerations. Sustainable Futures, 100317. https:// doi.org/10.1016/j.sftr.2024.100317
-
Sharma, S. S. (2010). The relationship between energy and economic growth: Emprical evidence from 66 countries. Applied Energy, 87(11), 3565-3574. https://doi. org/10.1016/j.apenergy.2010.06.015
-
Terzi, H., & Pata, U. K. (2016). The effect of oil consumption on economic growth in Turkey. Doğuş Üniversitesi Dergisi, 17(2), 225-240.
-
Uğurlu E. & Ünsal, A. (2009). Ham petrol ithalatı ve ekonomik büyüme: Türkiye, 10. Ekonometri ve İstatistik Sempozyumu, Erzurum, 27-29 May 2009 (Elektronik basım).
-
Ulusoy, V. (2006). Ekonomik büyüme ve enerji tüketimi: Bir ekonometrik uygulama. Türkiye’de Enerji ve Kalkınma Sempozyumu, 147-154.
-
Waleed, A., Akhtar, A., & Pasha, A. T. (2018). Oil consumption and economic growth: Evidence from Pakistan. Energy Sources, Part B: Economics, Planning, and Policy, 13(2), 103-108. https://doi.org/10.1080/15567249.2017.1354100
-
Yilanci, V. (2019). A Residual-based cointegration test with a fourier approximation. https:// mpra.ub.unimuenchen.de/95395/
-
Yılancı, V., & Eriş, Z. A. (2013). Purchasing power parity in African Countries: Further evidence from fourier unit root tests based on linear and nonlinear models. South African Journal of Economics, 81(1), 20-34. https://doi.org/10.1111/j.1813-6982.2012.01326.x
-
Yoo, S. H. (2006). Oil consumption and economic growth: evidence from Korea. Energy Sources, 1(3), 235-243. https://doi.org/10.1080/009083190881599
-
Zaman, B.-U., Farooq, M., & Ulah, S. (2011). Sectoral oil consumption and economic growth in Pakistan: An ECM approach. American Journal of Scientific and Industrial Research, 2(2), 149-156.
-
Zhao, C-H., Kang, J-G., & Yuan, J. (2008). Oil consumption and economic growth in China: A multivariate cointegration analysis. The 2008 International Conference on Risk Management & Engineering Management, 178-183.
-
Zikovic, S., & Vlahinic-Dizdarevic, N. (2009). Oil consumption and economic growth interdependence in small european countries. Halduskultuur–Administrative Culture Conference Small States And The ‘State’ 24‐25 April, Tallinn, Estonia 1-11.
-
Ziramba, E. (2015). Causal dynamics between oil consumption and economic growth in South Africa. Energy Sources, Part B: Economics, Planning, and Policy, 10(3), 250- 256. https://doi.org/10.1080/15567249.2010.540626
-
Zou, G., & Chau, K. W. (2006). Short and long run effects between oil consumption and economic growth in China. Energy Policy, 34(18), 3644-3655. https://doi. org/10.1016/j.enpol.2005.08.009