Natural Resources in terms of its Effect on Economic Growth: A Dynamic Panel Data Analysis

Year 2020, Volume: 19 Issue: 3, 840 - 852, 01.07.2020

Hüseyin Ağır , Sena Türkmen

https://doi.org/10.21547/jss.717099

Cited By: 12

Abstract

Natural resources state that pastures, forests, renewable (sun, wind, hydroelectric, etc.) and non-renewable resources (oil, natural gas and mineral resources) which are spontaneously formed underground and above ground in nature. It is seen that natural resources are important factor that directly affects the production process such as labor and capital. Therefore, in the analysis of economic growth, the effect of renewable and non-renewable energy production as a natural resource factor on growth is of great importance. The aim of this study is to analyze the effect of renewable and non-renewable energy resources on economic growth in emerging market economies for the period 1990-2015 with up-to-date econometric methods. The empirical results show that renewable energy production negatively affects economic growth and non-renewable energy production positively affects growth in emerging market economies.

Keywords

Natural Resources, Energy, Economic Growth, Panel Data Anaysis

Ekonomik Büyümeye Etkisi Bakımından Doğal Kaynaklar: Dinamik Panel Veri Analizi

Abstract

Doğal kaynaklar, meraları, ormanlık alanları, doğada kendiliğinden oluşmuş yer altı ve yer üstünde yer alan yenilenebilir (güneş, rüzgâr, hidroelektrik vb.) ve yenilenemez kaynakları (petrol, doğal gaz ve mineral kaynaklar) ifade etmektedir. Geleneksel üretim fonksiyonunda doğal kaynakların emek ve sermaye gibi doğrudan üretim sürecini etkileyen önemli bir faktör olduğu görülmektedir. Bu yüzden, ekonomik büyümenin analizinde, doğal kaynak faktörü olarak yenilenebilir ve yenilenemez enerji üretiminin büyümeye etkisi büyük önem arz etmektedir. Bu çalışmanın amacı, yükselen piyasa ekonomilerinde yenilenebilir ve yenilenemez enerji kaynaklarının ekonomik büyümeye etkisini güncel ekonometrik yöntemlerle 1990-2015 dönemi için analiz etmektir. Ampirik bulgular, yükselen piyasa ekonomilerinde yenilenebilir enerji üretiminin ekonomik büyümeyi negatif, yenilenemez enerji üretiminin ise büyümeyi pozitif etkilediği yönündedir.

Keywords

Doğal Kaynaklar, Enerji, Ekonomik Büyüme, Panel Veri Analizi

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