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İktisadi Büyüme ve Rüzgar Enerjisi: Seçilmiş G-20 Ülkeleri İçin Bir Analiz

Year 2020, Volume: 4 Issue: 3, 595 - 612, 20.09.2020
https://doi.org/10.25295/fsecon.765376

Abstract

Son 200 yıllık tarih incelendiğinde insanoğlunun pek çok alanda ciddi bir ilerleme kaydettiği görülür. Hızlı nüfus artışının da eşlik ettiği sanayileşme, teknolojik ilerleme, kentleşme, büyüme ve kalkınma hızlarındaki artış gibi gelişmeler, hayatın her alanında son derece önemli bir yere sahip olan enerji faktörünün önemini daha belirgin hale getirmiştir. Hali hazırda temel enerji kaynağı fosil yakıtlar olmakla birlikte, bu kaynakların tükenir kaynaklar olması yanında çevreye verdiği zararlar nedeniyle yenilenebilir enerji kaynaklarının daha aktif kullanılması oldukça önem kazanmıştır. Bu çerçevede son dönemde önemli bir yenilenebilir enerji kaynağı olan rüzgâr enerjisi gittikçe ön plana çıkmaya başlamıştır. Bu çalışmada rüzgâr enerjisi ile ekonomik büyüme arasındaki ilişki, seçilmiş 15 G-20 ülkesinin 1991-2017 dönemi verileri, panel veri yöntemi ile analiz edilmiştir. Elde edilen bulgulara göre rüzgâr enerjisi ile ekonomik büyüme arasında pozitif yönlü bir ilişki bulunmaktadır.

References

  • Akarca, A. T., & Long, T. V. (1979). Energy and employment: A time series analysis of the causal relationship. Resources and Energy, 2, 151–162.
  • Apaydın, Ş. (2020). The Relationship Between Waste Management and Economic Growth in OECD Countries: A Panel Quantile Regression Approach. The Third Sector Social Economic Review, 55(1), 300-312.
  • Apergis, N., & Payne, J. E. (2010). Renewable energy consumption and economic growth: Evidence from a panel of OECD countries. Energy Policy, 38, 656–660.
  • Apergis, N., & Payne, J. E. (2011). A dynamic panel study of economic development and the electricity consumption-growth nexus. Energy Economics, 33(5), 770-781.
  • Baltagi, H. (2005). Econometric Analysis for Panel Data İngiltere, 3. Baskı, (Üçüncü Baskı b.). İngiltere: John Wiley & Sons.
  • Bilgili, F., & Öztürk, İ. (2015). Biomass energy and economic growth nexus in G7 countries: Evidence from dynamic panel data. Renewable and Sustainable Energy Reviews, 49, 132–138.
  • Bilgili, F., Koçak, E., & Bulut, U. (2016). The dynamic impact of renewable energy consumption on CO2 emissions: A revisited Environmental Kuznets Curve Approach. Renewable and Sustainable Energy Reviews, 54, 838-845.
  • Bird, L., Bolinger, M., Gagliano, T., Wiser, R., Brown, M., & Parsons, B. (2005). Policies and Market Factors Driving wind Power Development in the United States. Energy Policy, 33, 1397–407.
  • Bowen, A., & Hepburn, C. (2014). Green Growth: An Assessment. Oxford Review of Economic Policy, 30(4), 407-422.
  • BP Energy Outlook. (2019). Statistical Review of World Energy. BP: https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy/downloads.html adresinden alındı
  • Brown, J. P., Pender, J., Wiser, R., Lant, E., & Hoen, B. (2012). Ex post analysis of economic impacts from wind power development in U.S. counties. Energy Economics, 1743–1754, 1743–1754.
  • Bugaje, I. M. (2006). Renewable energy for sustainable development in Africa: a review. Renewable and Sustainable Energy Reviews, 10(6), 603-612.
  • Denholm, P., Hand, M., Jackson, M., & Ong, S. (2009). Land-use requirements of modern wind power plants in the United States. National Renewable Energy Laboratory, NREL/TP-6A2-45834.
  • Doğan, E. (2015). The relationship between economic growth and electricity consumption from renewable and non-renewable sources: A study of Turkey. Renewable and Sustainable Energy Reviews, 52, 534-546.
  • Energy Information Administration. (2013). Annual Energy Ooutlook 2013 with projections to 2040. Washington D.C.: (EIA).
  • Fang, Y. (2011). Economic welfare impacts from renewable energy consumption: The China experience. Renewable and Sustainable Energy Reviews, 15(9), 5120-5128.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India, Energy Policy. Energy Policy, 30, 125-129.
  • Inglesi-Lotz, R. (2016). The impact of renewable energy consumption to economic growth: A panel data application. Energy Economics, 53, 58–63.
  • IRENA. (2016). Renewable energy benefits: Measuring the economics. Abu Dhabi: International Renewable Energy Agency.
  • IRENA. (2019a). Global energy transformation: A roadmap to 2050 (2019 edition),. Abu Dhabi: International Renewable Energy Agency.
  • IRENA. (2019b). Renewable energy and Jobs: Annual review 2019. Abu Dhabi: International Renewable Energy Agency.
  • Karanfil, F., & Li, Y. (2015). Electricity consumption and economic growth: Exploring panel-specific differences. Energy Policy, 82, 264–277.
  • Koç, Ü. (2020a). Sektörel Enerji Tüketimi ve Ekonomik Büyüme. Üçüncü Sektör Sosyal Ekonomi, 55(1), 508-521.
  • Koç, Ü. (2020b). The Relationship Between Biomass and GDP: A Panel Data Analysis. Ş. Apaydın, & A. Güngör içinde, New Perspectives and Studies In Economics And Administrative Sciences (s. 21-34). Ankara: Siyasal.
  • Koç, Ü., & Şahin, H. (2015). Parasal Aktarim Mekanizmasi: Firma Bilanço Kanali ve Türkiye. Ege Academic Review, 15(1), 19-26.
  • Kraft, J., & Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3, 401–403.
  • Lee, C. (2006). The causality relationship between energy consumption and GDP in G-11 countries revisited. Energy Policy, 34, 1086–1093.
  • Leloux, M., Harkema, S., & Popescu, F. (2015). Accelerating The Adoption Process of Renewable Energy Sources Among SME's. Annals of Faculty of Economics, University of Oradea, Faculty of Economics, 1(1), 247-255.
  • Llop, M. (2020). Energy import costs in a flexible input-output price model. Resource and Energy Economics, 59, 1-9.
  • Loomis, D. G., Hayden, J., Noll, S., & Payne, J. E. (2016). Economic Impact of Wind Energy Development in Illinois. Journal of Business Valuation and Economic Loss Analysis, De Gruyter, 11(1), 3-23.
  • Majeed, M. T., & Luni, T. (2019). Renewable Energy, Water, and Environmental Degradation: A Global Panel Data Approach. Pakistan Journal of Commerce and Social Sciences, 13(3), 749-778.
  • Marinescu, N. (2017). Wind Energy In The Eu: How Does Romania Fare? Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, 3, 83-87.
  • McDowall, W., Ekins, P., Radosevic, S., & Zhang, L. (2013). The development of wind power in China, Europe and the USA: how have policies and innovation system activities co-evolved? Technology Analysis & Strategic Management, 25(2), 163–185.
  • Menegaki, A. N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 33(2), 257-263.
  • Musgrove, P. J. (1981). Wind Energy. Journal of the Royal Society of Arts, 129(5301), 553-567.
  • Narayan, P. K., & Prasad, A. (2008). Electricity consumption-real GDP causality nexus: Evidence from a bootstrapped causality test for 30 OECD countries. Energy Policy, 36, 910–918.
  • OECD. (2017). Green Growth Studies: Green Growth Indicators 2017. Paris: OECD Publishing.
  • OECD. (2019). Economic Policy Reforms 2019: Going for Growth. Paris: OECD Publishing.
  • Ohler, A., & Fetters, I. (2014). The causal relationship between renewable electricity generation and GDP growth: A study of energy sources. Energy Economics, 43, 125–139.
  • Özarslan, B., & Bayraç, H. (2018). Türkiye’de Rüzgar Enerjisinin Ekonomik Büyüme Üzerindeki Etkisi: ARDL Sınır Testi Yaklaşımı. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD), 10(19), 381-395.
  • Prandecki, K. (2014). Theoretical aspects of sustainable energy. Energy and Environmental Engineering, 2(4) , 83-90.
  • Quintana-Rojo, C., Callejas-Albinana , F., Tarancon, M., & Del-Rio, P. (2020). Assessing the feasibility of deployment policies in wind energy systems. A sensitivity analysis on a multiequational econometric framework. Energy Economics, 86.
  • Sadorsky, P. (2009). Renewable energy consumption and income in emerging economies. Energy Policy, 37, 4021–4028.
  • Shahbaz , M., Tang, C. F., & Shabbir, M. S. (2011). Electricity consumption and economic growth nexus in Portugal using cointegration and causality approaches. Energy Policy, 39, 3529–3536.
  • Soytas, U., & Sari, R. (2003). Energy consumption and GDP: Causality relationship in G-7 and emerging markets. Energy Economics, 25, 33–37.
  • Stern, D. I. (2000). A multivariate cointegration analysis of the role of energy in the US macroeconomy. Energy Economics, 22, 267–283.
  • Stern, D. I., & Cleveland, C. J. (2004). Energy and Economic Growth. Rensselaer Working Papers in Economics 0410.
  • Stiglitz, J. E. (2002). Globalization and Its Discontents. Penguin Books Ltd.: London, UK.
  • Taylor, M., Thornton, D., Nemet, G., & Colvin, M. (2006). Government actions and innovation in environmental technology for power production:The cases of selective catalytic reduction and wind power in California. Report for the California Energy Commission. Berkeley: University of California.
  • Tsoutsos, T., Frantzeskaki, N., & Gekas, V. (2005). Environmental impacts from the solar energy technologies. Energy Policy, 33(3), 289-296.
  • World Bank. (2012). Inclusive Green Growth: The Pathway to Sustainable Development. Washington: World Bank.
  • World Bioenergy Association. (2019). Global Bioenergy Statistics 2019. World Bioenergy Association.
  • Yoo, S. (2005). Electricity consumption and economic growth: evidence from Korea. Energy Policy, 33, 1627–1632.
  • Yoo, S. H., & Kwak, S. Y. (2010). Electricity consumption and economic growth in seven South American countries. Energy Policy, 38(1), 181-188.
  • Zachariadis, T. (2007). Exploring the relationship between energy use and economic growth with bivariate models: New evidence from G-7 countries. Energy Economics, 29, 1233–1253.
  • Zarnikau, J. (1997). A reexamination of the causal relationship between energy consumption and gross national product. Journal of Energy and Development, 21, 229–239.

Economic Growth and Wind Energy: An Analysis for Selected G-20 Countries

Year 2020, Volume: 4 Issue: 3, 595 - 612, 20.09.2020
https://doi.org/10.25295/fsecon.765376

Abstract

In the last 200 years, mankind has made significant progress in many areas. Developments such as industrialization, technological progress, urbanization and increase in growth and development rates accompanied by rapid population growth have made the energy factor, which is extremely important in all areas of life, more evident.While fossil fuels are currently the main source of energy, the use of renewable energy sources is in an increasing trend due to the damage of the environment by fossil fuels and the depletion of fossil fuel resources. In this context, wind energy, which is an important source of renewable energy, has become more and more prominent. In this study, the relationship between wind energy and economic growth is analyzed using panel data method for the selected 15 G-20 countries between the period of 1991 and 2017. According to the findings, there is a positive relationship between wind energy and economic growth.

References

  • Akarca, A. T., & Long, T. V. (1979). Energy and employment: A time series analysis of the causal relationship. Resources and Energy, 2, 151–162.
  • Apaydın, Ş. (2020). The Relationship Between Waste Management and Economic Growth in OECD Countries: A Panel Quantile Regression Approach. The Third Sector Social Economic Review, 55(1), 300-312.
  • Apergis, N., & Payne, J. E. (2010). Renewable energy consumption and economic growth: Evidence from a panel of OECD countries. Energy Policy, 38, 656–660.
  • Apergis, N., & Payne, J. E. (2011). A dynamic panel study of economic development and the electricity consumption-growth nexus. Energy Economics, 33(5), 770-781.
  • Baltagi, H. (2005). Econometric Analysis for Panel Data İngiltere, 3. Baskı, (Üçüncü Baskı b.). İngiltere: John Wiley & Sons.
  • Bilgili, F., & Öztürk, İ. (2015). Biomass energy and economic growth nexus in G7 countries: Evidence from dynamic panel data. Renewable and Sustainable Energy Reviews, 49, 132–138.
  • Bilgili, F., Koçak, E., & Bulut, U. (2016). The dynamic impact of renewable energy consumption on CO2 emissions: A revisited Environmental Kuznets Curve Approach. Renewable and Sustainable Energy Reviews, 54, 838-845.
  • Bird, L., Bolinger, M., Gagliano, T., Wiser, R., Brown, M., & Parsons, B. (2005). Policies and Market Factors Driving wind Power Development in the United States. Energy Policy, 33, 1397–407.
  • Bowen, A., & Hepburn, C. (2014). Green Growth: An Assessment. Oxford Review of Economic Policy, 30(4), 407-422.
  • BP Energy Outlook. (2019). Statistical Review of World Energy. BP: https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy/downloads.html adresinden alındı
  • Brown, J. P., Pender, J., Wiser, R., Lant, E., & Hoen, B. (2012). Ex post analysis of economic impacts from wind power development in U.S. counties. Energy Economics, 1743–1754, 1743–1754.
  • Bugaje, I. M. (2006). Renewable energy for sustainable development in Africa: a review. Renewable and Sustainable Energy Reviews, 10(6), 603-612.
  • Denholm, P., Hand, M., Jackson, M., & Ong, S. (2009). Land-use requirements of modern wind power plants in the United States. National Renewable Energy Laboratory, NREL/TP-6A2-45834.
  • Doğan, E. (2015). The relationship between economic growth and electricity consumption from renewable and non-renewable sources: A study of Turkey. Renewable and Sustainable Energy Reviews, 52, 534-546.
  • Energy Information Administration. (2013). Annual Energy Ooutlook 2013 with projections to 2040. Washington D.C.: (EIA).
  • Fang, Y. (2011). Economic welfare impacts from renewable energy consumption: The China experience. Renewable and Sustainable Energy Reviews, 15(9), 5120-5128.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India, Energy Policy. Energy Policy, 30, 125-129.
  • Inglesi-Lotz, R. (2016). The impact of renewable energy consumption to economic growth: A panel data application. Energy Economics, 53, 58–63.
  • IRENA. (2016). Renewable energy benefits: Measuring the economics. Abu Dhabi: International Renewable Energy Agency.
  • IRENA. (2019a). Global energy transformation: A roadmap to 2050 (2019 edition),. Abu Dhabi: International Renewable Energy Agency.
  • IRENA. (2019b). Renewable energy and Jobs: Annual review 2019. Abu Dhabi: International Renewable Energy Agency.
  • Karanfil, F., & Li, Y. (2015). Electricity consumption and economic growth: Exploring panel-specific differences. Energy Policy, 82, 264–277.
  • Koç, Ü. (2020a). Sektörel Enerji Tüketimi ve Ekonomik Büyüme. Üçüncü Sektör Sosyal Ekonomi, 55(1), 508-521.
  • Koç, Ü. (2020b). The Relationship Between Biomass and GDP: A Panel Data Analysis. Ş. Apaydın, & A. Güngör içinde, New Perspectives and Studies In Economics And Administrative Sciences (s. 21-34). Ankara: Siyasal.
  • Koç, Ü., & Şahin, H. (2015). Parasal Aktarim Mekanizmasi: Firma Bilanço Kanali ve Türkiye. Ege Academic Review, 15(1), 19-26.
  • Kraft, J., & Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3, 401–403.
  • Lee, C. (2006). The causality relationship between energy consumption and GDP in G-11 countries revisited. Energy Policy, 34, 1086–1093.
  • Leloux, M., Harkema, S., & Popescu, F. (2015). Accelerating The Adoption Process of Renewable Energy Sources Among SME's. Annals of Faculty of Economics, University of Oradea, Faculty of Economics, 1(1), 247-255.
  • Llop, M. (2020). Energy import costs in a flexible input-output price model. Resource and Energy Economics, 59, 1-9.
  • Loomis, D. G., Hayden, J., Noll, S., & Payne, J. E. (2016). Economic Impact of Wind Energy Development in Illinois. Journal of Business Valuation and Economic Loss Analysis, De Gruyter, 11(1), 3-23.
  • Majeed, M. T., & Luni, T. (2019). Renewable Energy, Water, and Environmental Degradation: A Global Panel Data Approach. Pakistan Journal of Commerce and Social Sciences, 13(3), 749-778.
  • Marinescu, N. (2017). Wind Energy In The Eu: How Does Romania Fare? Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, 3, 83-87.
  • McDowall, W., Ekins, P., Radosevic, S., & Zhang, L. (2013). The development of wind power in China, Europe and the USA: how have policies and innovation system activities co-evolved? Technology Analysis & Strategic Management, 25(2), 163–185.
  • Menegaki, A. N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 33(2), 257-263.
  • Musgrove, P. J. (1981). Wind Energy. Journal of the Royal Society of Arts, 129(5301), 553-567.
  • Narayan, P. K., & Prasad, A. (2008). Electricity consumption-real GDP causality nexus: Evidence from a bootstrapped causality test for 30 OECD countries. Energy Policy, 36, 910–918.
  • OECD. (2017). Green Growth Studies: Green Growth Indicators 2017. Paris: OECD Publishing.
  • OECD. (2019). Economic Policy Reforms 2019: Going for Growth. Paris: OECD Publishing.
  • Ohler, A., & Fetters, I. (2014). The causal relationship between renewable electricity generation and GDP growth: A study of energy sources. Energy Economics, 43, 125–139.
  • Özarslan, B., & Bayraç, H. (2018). Türkiye’de Rüzgar Enerjisinin Ekonomik Büyüme Üzerindeki Etkisi: ARDL Sınır Testi Yaklaşımı. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD), 10(19), 381-395.
  • Prandecki, K. (2014). Theoretical aspects of sustainable energy. Energy and Environmental Engineering, 2(4) , 83-90.
  • Quintana-Rojo, C., Callejas-Albinana , F., Tarancon, M., & Del-Rio, P. (2020). Assessing the feasibility of deployment policies in wind energy systems. A sensitivity analysis on a multiequational econometric framework. Energy Economics, 86.
  • Sadorsky, P. (2009). Renewable energy consumption and income in emerging economies. Energy Policy, 37, 4021–4028.
  • Shahbaz , M., Tang, C. F., & Shabbir, M. S. (2011). Electricity consumption and economic growth nexus in Portugal using cointegration and causality approaches. Energy Policy, 39, 3529–3536.
  • Soytas, U., & Sari, R. (2003). Energy consumption and GDP: Causality relationship in G-7 and emerging markets. Energy Economics, 25, 33–37.
  • Stern, D. I. (2000). A multivariate cointegration analysis of the role of energy in the US macroeconomy. Energy Economics, 22, 267–283.
  • Stern, D. I., & Cleveland, C. J. (2004). Energy and Economic Growth. Rensselaer Working Papers in Economics 0410.
  • Stiglitz, J. E. (2002). Globalization and Its Discontents. Penguin Books Ltd.: London, UK.
  • Taylor, M., Thornton, D., Nemet, G., & Colvin, M. (2006). Government actions and innovation in environmental technology for power production:The cases of selective catalytic reduction and wind power in California. Report for the California Energy Commission. Berkeley: University of California.
  • Tsoutsos, T., Frantzeskaki, N., & Gekas, V. (2005). Environmental impacts from the solar energy technologies. Energy Policy, 33(3), 289-296.
  • World Bank. (2012). Inclusive Green Growth: The Pathway to Sustainable Development. Washington: World Bank.
  • World Bioenergy Association. (2019). Global Bioenergy Statistics 2019. World Bioenergy Association.
  • Yoo, S. (2005). Electricity consumption and economic growth: evidence from Korea. Energy Policy, 33, 1627–1632.
  • Yoo, S. H., & Kwak, S. Y. (2010). Electricity consumption and economic growth in seven South American countries. Energy Policy, 38(1), 181-188.
  • Zachariadis, T. (2007). Exploring the relationship between energy use and economic growth with bivariate models: New evidence from G-7 countries. Energy Economics, 29, 1233–1253.
  • Zarnikau, J. (1997). A reexamination of the causal relationship between energy consumption and gross national product. Journal of Energy and Development, 21, 229–239.
There are 56 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Ümit Koç 0000-0002-1853-5156

Şükrü Apaydın 0000-0003-4640-8135

Publication Date September 20, 2020
Published in Issue Year 2020 Volume: 4 Issue: 3

Cite

APA Koç, Ü., & Apaydın, Ş. (2020). İktisadi Büyüme ve Rüzgar Enerjisi: Seçilmiş G-20 Ülkeleri İçin Bir Analiz. Fiscaoeconomia, 4(3), 595-612. https://doi.org/10.25295/fsecon.765376

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