The Impact of Information and Communication Technologies on Energy Consumption: A Case Study of BRICS-T Countries

Abstract

The aim of this study is to examine the relationship between information and communication technologies (ICT) and energy consumption within the BRICS-T sample by incorporating economic growth and financial development into the energy consumption model. The study utilizes a dataset covering the period from 2001 to 2021 and employs panel data analysis methods. The Gengenbach et al.’s (2016) test is performed for panel cointegration testing, the Dynamic Ordinary Least Squares Mean Group (DOLSMG) estimator is used for long-term coefficient estimation, and the Dumitrescu-Hurlin (2012) panel causality test is performed to detect causal relationships among variables. The findings are as follows: i) There exists a long-term relationship between ICT, economic growth, financial development, and energy consumption. ii) ICT has a negative effect on energy consumption, whereas economic growth and financial development have positive effects. iii) For the panel as a whole, there are bi-directional causal relationships between energy consumption and ICT; energy consumption and economic growth and energy consumption and financial development.

Keywords

• Information and Communication Technologies
• Energy Consumption
• Economic Growth
• Panel Data Analysis

Bilgi ve İletişim Teknolojilerinin Enerji Tüketimine Etkisi: BRICS-T Ülkeleri Örneği

Abstract

Bu çalışmanın amacı, bilgi ve iletişim teknolojileri ile enerji tüketimi arasındaki ilişkiyi BRICS-T örnekleminde, ekonomik büyüme ve finansal gelişmeyi enerji tüketim modeline ekleyerek incelemektir. Çalışmada 2001-2021 dönemini kapsayan veri seti ve panel veri analiz yöntemi kullanılmıştır. Panel eşbütünleşme testi için Gengenbach vd. (2016) testi, uzun dönemli katsayıların tahmininde Ortalama Grup Dinamik En Küçük Kareler (DOLSMG) tahmincisi ve değişkenler arasında nedensellik ilişkisinin tespiti için de Dumitrescu-Hurlin (2012) panel nedensellik testi kullanılmıştır. Elde edilen bulgular şu şekildedir: i) Bilgi ve iletişim teknolojileri, ekonomik büyüme ve finansal gelişme ile enerji tüketimi arasında uzun dönemli bir ilişki bulunmaktadır. ii) Bilgi ve iletişim teknolojileri enerji tüketimi üzerinde negatif; ekonomik büyüme ve finansal gelişme ise pozitif etkiye sahiptir. iii) Panelin geneli için enerji tüketimi ile bilgi ve iletişim teknolojileri, enerji tüketimi ile ekonomik büyüme ve enerji tüketimi ile finansal gelişme arasında iki yönlü nedensellik ilişkisi olduğu görülmüştür.

Keywords

• Bilgi ve İletişim Teknolojileri
• Enerji Tüketimi
• Ekonomik Büyüme
• Panel Veri Analizi

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