Research Article
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THE EFFECT OF FOREIGN TRADE AND ECONOMIC GROWTH ON ENERGY CONSUMPTION IN THE INFORMAL ECONOMY: THE CASE OF G20 COUNTRIES

Year 2023, Volume: 4 Issue: 2, 214 - 227, 15.10.2023
https://doi.org/10.58702/teyd.1286908

Abstract

Studies on the determinants of energy consumption have been increasing in recent years. This study analyzes the effect of informal economy and selected macroeconomic variables on energy consumption for G-20 countries. Estimated by the Two-Stage System Generalized Method of Moments (GMM) using dynamic panel data for the G-20 countries, including Turkey, from 2005 to 2017. The effects of the informal economy, imports, exports and economic growth on energy consumption are examined. As a result of the analysis, the effect of the informal economy on energy consumption has a negative and statistically significant effect. Therefore, the increase in the informal economy reduces energy consumption. The effects of imports, exports and economic growth on energy use are positive and statistically significant. An increase in these variables increases energy use. The findings of the study indicate that the informal economy levels of the G-20 countries are at desired levels and they should target lower informal economy levels.

References

  • Arellano, M. ve S. Bond (1991). “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”. The Review of Economic Studies, 58 (2), 277–297.
  • Baltagi, B. H. (2008). Econometric Analysis of Panel Data. 4.Edition. Chichester: Wiley.
  • Basbay, M. M., C. Elgin ve O. Torul (2016). Energy Consumption and the Size of the Informal Economy. Economics Discussion Papers, No 2016-6. Kiel Institute: The World Economy.
  • Benkraiem, R., A. Lahiani, A. Miloudi ve M. Shahbaz (2019). “The Asymmetric Role of Shadow Economy in the Energy-Growth Nexus in Bolivia”. Energy Policy, 125, 405–417.
  • Blundell, R. ve S. Bond (2000). “GMM Estimation with Persistent Panel Data: An Application to Production Functions”. Econometric Reviews, 19 (3), 331-339.
  • Canh, N. P., C. Schinckus, S. D. Thanh ve F.H.L. Chong (2021). “The Determinants of the Energy Consumption: A Shadow Economy-Based Perspective”. Energy, 225, 1-14.
  • Chen, M., A. Sinha, K. Hu ve M. I. Shah (2021). “Impact of Technological Innovation on Energy Efficiency in Industry 4.0 Era: Moderation of Shadow Economy in Sustainable Development”. Technological Forecasting Social Change, 164, 1-10.
  • Dağılgan, G. (2022). “Ekonomik Büyüme ve Hukukun Üstünlüğünün Kayıt Dışı Ekonomi Üzerindeki Etkisi: Gelişmekte Olan Ülkeler Örneği”. International Social Mentality and Researcher Thinkers Journal, 8 (66), 2554-2561.
  • https://energy.ec.europa.eu/topics/energy-efficiency/energy-efficiency-targets-directive-and-rules/energy-efficiency-targets_en (10.01.2023)
  • https://www.iea.org/data-and-statistics (11.01.2023)
  • https://data.worldbank.org/ (10.01.2023)
  • https://www.unodc.org/ (11.01.2023)
  • Karanfil, F. ve A. Özkaya (2007). “Estimation of Real GDP and Unrecorded Economy in Turkey Based on Environmental Data”. Energy Policy, 35 (10), 4902-4908.
  • Karanfil, F. (2008). “Energy Consumption and Economic Growth Revisited: Does the size of Unrecorded Economy Matter?”. Energy Policy, 36 (8), 3029-3035.
  • Lu, L., X. Fan, S. Ullah ve M. Z. Younas (2021). “Re-Evaluating the Dynamic Role of Shadow Economy and Environmental Policy Stringency in the Energy-Growth Nexus in China”. Environmental Science and Pollution Research, 29, 17406-17416.
  • Medina, L. ve M. F. Schneider (2018). Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?. International Monetary Fund. https://www.imf.org/en/Publications/WP/Issues/2018/01/25/Shadow-Economies-Around-the-World-What-Did-We-Learn-Over-the-Last-20-Years-45583 (03.01.2023)
  • Nkengfack, H., H. K. Fotio ve A. Totouom (2020). “How Does the Shadow Economy Affect Environmental Quality in Sub-Saharan Africa? Evidence from Heterogeneous Panel Estimations”. Journal of the Knowledge Economy, 12, 1635–1651.
  • Özturk, I. (2010). “A Literature Survey on Energy–Growth Nexus”. Energy Policy, 38 (1), 340–349.
  • Rehman, A., D. Zhang, A. A. Chandio ve M. Irfan (2020). "Does Electricity Production from Different Sources in Pakistan Have Dominant Contribution to Economic Growth? Empirical Evidence from Long-Run and Short-Run Analysis". The Electricity Journal, 33 (3), 1-9.
  • Roodman, D. (2009). “How to Do xtabond2: An Introduction to Difference and System GMM in Stata”. The Stata Journal, 9 (1), 86-136.
  • Smith, P. (1994). Assessing the Size of the Underground Underground Economy: The Canadian Statistical Perspectives. Statistics Canada: Ottawa.
  • Sohail, M. T., S. Ullah, M. T. Majeed, A. Usman ve Z. Andlib (2021). “The Shadow Economy in South Asia: Dynamic Effects on Clean Energy Consumption and Environmental Pollution”. Environmental Science and Pollution Research, 28, 29265-29275.
  • Şenhaz, Z, S. Katircioglu ve S. Katircioglu (2021). “Dynamic Effects of Shadow Economy and Environmental Pollution on the Energy Stock Prices: Empirical Evidence From OECD Countries”. Enviromental Science and Pollution Research, 28 (7), 8520–8529.
  • Uğur, B. ve S. Taş (2022). “Doğrudan Yabancı Yatırım Girişlerinin İhracat Üzerine Etkileri: G-20 Üyesi Gelişmiş ve Gelişmekte Olan Ekonomilerin Karşılaştırılması”. Journal of Economics and Research, 3 (1), 20-37.
  • Williams, C. C. ve F. Schneider (2013). The Shadow Economy. London: Institute of Economic Affairs.

KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ

Year 2023, Volume: 4 Issue: 2, 214 - 227, 15.10.2023
https://doi.org/10.58702/teyd.1286908

Abstract

Enerji tüketiminin belirleyicileri üzerine son yıllarda yapılan çalışmalar artmaktadır. Bu çalışma kayıt dışı ekonomi ve seçilmiş makroekonomik değişkenlerin enerji tüketimi üzerindeki etkisini G-20 ülkeleri için analiz etmektedir. 2005’ten 2017'ye kadar Türkiye’nin de aralarında bulunduğu G-20 ülkeleri için dinamik panel veriler kullanılarak İki Aşamalı Sistem Genelleştirilmiş Momentler Yöntemi (GMM) aracılığıyla tahmin edilmiştir. Kayıt dışı ekonomi, ithalat, ihracat ve ekonomik büyümenin enerji tüketimi üzerindeki etkisi incelenmiştir. Yapılan analiz sonucunda, kayıt dışı ekonominin enerji tüketimi üzerindeki etkisi negatif ve istatistiksel olarak anlamlı bir etkiye sahiptir. Dolayısıyla kayıt dışı ekonominin artması enerji tüketimini azaltmaktadır. İthalat, ihracat ve ekonomik büyümenin enerji kullanımı üzerindeki etkisi pozitif ve istatistiksel olarak anlamlıdır. Bu değişkenlerde meydana gelen bir artış enerji kullanımını artırmaktadır. Çalışma özelinde elde edilen bulgular, G-20 ülkelerinin kayıt dışı ekonomi seviyelerinin istenilen seviyelerde olduğunu ve daha düşük kayıt dışı ekonomi seviyelerini hedeflemeleri gerektiğini belirtmektedir.

References

  • Arellano, M. ve S. Bond (1991). “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”. The Review of Economic Studies, 58 (2), 277–297.
  • Baltagi, B. H. (2008). Econometric Analysis of Panel Data. 4.Edition. Chichester: Wiley.
  • Basbay, M. M., C. Elgin ve O. Torul (2016). Energy Consumption and the Size of the Informal Economy. Economics Discussion Papers, No 2016-6. Kiel Institute: The World Economy.
  • Benkraiem, R., A. Lahiani, A. Miloudi ve M. Shahbaz (2019). “The Asymmetric Role of Shadow Economy in the Energy-Growth Nexus in Bolivia”. Energy Policy, 125, 405–417.
  • Blundell, R. ve S. Bond (2000). “GMM Estimation with Persistent Panel Data: An Application to Production Functions”. Econometric Reviews, 19 (3), 331-339.
  • Canh, N. P., C. Schinckus, S. D. Thanh ve F.H.L. Chong (2021). “The Determinants of the Energy Consumption: A Shadow Economy-Based Perspective”. Energy, 225, 1-14.
  • Chen, M., A. Sinha, K. Hu ve M. I. Shah (2021). “Impact of Technological Innovation on Energy Efficiency in Industry 4.0 Era: Moderation of Shadow Economy in Sustainable Development”. Technological Forecasting Social Change, 164, 1-10.
  • Dağılgan, G. (2022). “Ekonomik Büyüme ve Hukukun Üstünlüğünün Kayıt Dışı Ekonomi Üzerindeki Etkisi: Gelişmekte Olan Ülkeler Örneği”. International Social Mentality and Researcher Thinkers Journal, 8 (66), 2554-2561.
  • https://energy.ec.europa.eu/topics/energy-efficiency/energy-efficiency-targets-directive-and-rules/energy-efficiency-targets_en (10.01.2023)
  • https://www.iea.org/data-and-statistics (11.01.2023)
  • https://data.worldbank.org/ (10.01.2023)
  • https://www.unodc.org/ (11.01.2023)
  • Karanfil, F. ve A. Özkaya (2007). “Estimation of Real GDP and Unrecorded Economy in Turkey Based on Environmental Data”. Energy Policy, 35 (10), 4902-4908.
  • Karanfil, F. (2008). “Energy Consumption and Economic Growth Revisited: Does the size of Unrecorded Economy Matter?”. Energy Policy, 36 (8), 3029-3035.
  • Lu, L., X. Fan, S. Ullah ve M. Z. Younas (2021). “Re-Evaluating the Dynamic Role of Shadow Economy and Environmental Policy Stringency in the Energy-Growth Nexus in China”. Environmental Science and Pollution Research, 29, 17406-17416.
  • Medina, L. ve M. F. Schneider (2018). Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?. International Monetary Fund. https://www.imf.org/en/Publications/WP/Issues/2018/01/25/Shadow-Economies-Around-the-World-What-Did-We-Learn-Over-the-Last-20-Years-45583 (03.01.2023)
  • Nkengfack, H., H. K. Fotio ve A. Totouom (2020). “How Does the Shadow Economy Affect Environmental Quality in Sub-Saharan Africa? Evidence from Heterogeneous Panel Estimations”. Journal of the Knowledge Economy, 12, 1635–1651.
  • Özturk, I. (2010). “A Literature Survey on Energy–Growth Nexus”. Energy Policy, 38 (1), 340–349.
  • Rehman, A., D. Zhang, A. A. Chandio ve M. Irfan (2020). "Does Electricity Production from Different Sources in Pakistan Have Dominant Contribution to Economic Growth? Empirical Evidence from Long-Run and Short-Run Analysis". The Electricity Journal, 33 (3), 1-9.
  • Roodman, D. (2009). “How to Do xtabond2: An Introduction to Difference and System GMM in Stata”. The Stata Journal, 9 (1), 86-136.
  • Smith, P. (1994). Assessing the Size of the Underground Underground Economy: The Canadian Statistical Perspectives. Statistics Canada: Ottawa.
  • Sohail, M. T., S. Ullah, M. T. Majeed, A. Usman ve Z. Andlib (2021). “The Shadow Economy in South Asia: Dynamic Effects on Clean Energy Consumption and Environmental Pollution”. Environmental Science and Pollution Research, 28, 29265-29275.
  • Şenhaz, Z, S. Katircioglu ve S. Katircioglu (2021). “Dynamic Effects of Shadow Economy and Environmental Pollution on the Energy Stock Prices: Empirical Evidence From OECD Countries”. Enviromental Science and Pollution Research, 28 (7), 8520–8529.
  • Uğur, B. ve S. Taş (2022). “Doğrudan Yabancı Yatırım Girişlerinin İhracat Üzerine Etkileri: G-20 Üyesi Gelişmiş ve Gelişmekte Olan Ekonomilerin Karşılaştırılması”. Journal of Economics and Research, 3 (1), 20-37.
  • Williams, C. C. ve F. Schneider (2013). The Shadow Economy. London: Institute of Economic Affairs.
There are 25 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Article
Authors

Gökhan Dağılgan 0000-0002-6916-6506

Early Pub Date June 15, 2023
Publication Date October 15, 2023
Published in Issue Year 2023 Volume: 4 Issue: 2

Cite

APA Dağılgan, G. (2023). KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ. Toplum Ekonomi Ve Yönetim Dergisi, 4(2), 214-227. https://doi.org/10.58702/teyd.1286908
AMA Dağılgan G. KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ. TEYD. October 2023;4(2):214-227. doi:10.58702/teyd.1286908
Chicago Dağılgan, Gökhan. “KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ”. Toplum Ekonomi Ve Yönetim Dergisi 4, no. 2 (October 2023): 214-27. https://doi.org/10.58702/teyd.1286908.
EndNote Dağılgan G (October 1, 2023) KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ. Toplum Ekonomi ve Yönetim Dergisi 4 2 214–227.
IEEE G. Dağılgan, “KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ”, TEYD, vol. 4, no. 2, pp. 214–227, 2023, doi: 10.58702/teyd.1286908.
ISNAD Dağılgan, Gökhan. “KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ”. Toplum Ekonomi ve Yönetim Dergisi 4/2 (October 2023), 214-227. https://doi.org/10.58702/teyd.1286908.
JAMA Dağılgan G. KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ. TEYD. 2023;4:214–227.
MLA Dağılgan, Gökhan. “KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ”. Toplum Ekonomi Ve Yönetim Dergisi, vol. 4, no. 2, 2023, pp. 214-27, doi:10.58702/teyd.1286908.
Vancouver Dağılgan G. KAYIT DIŞI EKONOMİ ÖZELİNDE DIŞ TİCARET VE EKONOMİK BÜYÜMENİN ENERJİ TÜKETİMİ ÜZERİNDEKİ ETKİSİ: G20 ÜLKELERİ ÖRNEĞİ. TEYD. 2023;4(2):214-27.