ENERGY PRODUCTIVITY, ENERGY DEPENDENCE AND ECONOMIC GROWTH IN EXTENDED EUROPE

Year 2022, Issue: 2, 317 - 328, 29.04.2022

Natalya Ketenci , Ayşe Sevencan

https://doi.org/10.51551/verimlilik.885141

Abstract

Purpose: Energy is used in all areas of production and is crucial for economic growth. This study aims to empirically analyze the relationship between energy productivity, economic growth, and energy use in 35 European countries, for the period of 1990-2015.

Methodology: European countries are divided into two groups, namely developed and developing economies. To account for structural breaks, a panel cointegration test that allows for multiple structural breaks is applied to two groups of countries.

Findings: Multiple breaks are found by the Westerlund (2006) test in the group of emerging countries, suggesting that energy policies within Europe should differ by country. Structural breaks in emerging European economies suggest that these countries are more fragile to both external and internal shocks. The results of the study also show that economic growth in developing countries increases energy dependency, while economic growth in developed European countries causes an increase in energy efficiency.

Originality: This study aims to enrich the literature in two aspects. First, it analyzes energy dependence and efficiency at the same time. Secondly, it examines developed and developing European countries in two separate sub-samples by observing structural breaks in the relationship between energy dependence, energy efficiency and growth.

Keywords

Economic Growth, Energy, Panel Estimations, Energy Productivity, Structural Breaks

GENİŞLETİLMİŞ AVRUPA ÜLKELERİNDE ENERJİ VERİMLİLİĞİ, ENERJİ BAĞIMLILIĞI VE EKONOMİK BÜYÜME

Abstract

Amaç: Enerji üretimin her alanında kullanılmakta ve ekonomik büyüme için çok önemlidir. Bu çalışma, 1990-2015 yılları arasında 35 Avrupa ülkesindeki ekonomik büyüme, enerji tüketimi ve enerji verimliliği ilişkisini ampirik olarak analiz etmeyi amaçlamaktadır.

Yöntem: Avrupa ülkeleri gelişmiş ve gelişmekte olan ekonomiler olarak iki ayrı gruba ayrılmıştır. Yapısal kırılmaları dikkate almak için iki ülke grubuna çoklu yapısal kırılmalı panel eşbütünleşme testi uygulanmıştır.

Bulgular: Gelişmekte olan ülkeler grubunda Westerlund(2006) test sonuçları birçok yapısal kırılma bulunması Avrupa enerji politikalarının ülkeler için ayrı olması gerektiği sonucunu çıkarmaktadır. Gelişmekte olan Avrupa ekonomilerindeki çok sayıdaki yapısal kırılma bu ekonomilerin içsel ve dışsal şoklara karşı daha kırılgan olduğunu göstermektedir. Çalışma sonuçları ayrıca gelişmekte olan ülkelerde ekonomik büyümenin enerji bağımlılığını arttırdığını, öte yandan gelişmiş Avrupa ülkelerinde ekonomik büyümenin enerji verimliliğinin artmasına sebep olduğunu göstermektedir.

Özgünlük: Bu çalışma literatürü iki açıdan zenginleştirmeyi hedeflemektedir. Öncelikle, enerji bağımlılığını ve verimliliği aynı anda incelemektedir. İkinci olarak, enerji bağımlılığı, enerji verimliliği ve büyüme ilişkisini yapısal kırılmaları gözlemleyerek gelişmiş ve gelişmekte olan Avrupa ülkelerini iki ayrı alt örneklem grubunda incelemektedir.

Keywords

Ekonomik Büyüme, Enerji, Panel Tahmin, Enerji Verimliliği, Yapısal Kırılmalar

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