Enerji Verimliliği Endeksinin Ekonomik Faaliyet Üzerindeki Etkileri: G7 Ülkeleri Örneği

Öz

Bu çalışmanın temel amacı 1971-2018 yılları için G7 ülkelerindeki enerji verimliliği gelişmelerinin ekonomik büyüme üzerindeki etkisini incelemektir. Bu çalışmada, enerji verimliliğinin hesaplanması için Fisher İdeal Endekse dayalı ayrıştırma yöntemi kullanılmıştır. Bununla birlikte, çalışmada ekonomik büyümenin belirleyicileri olarak enerji verimliliği endeksinin yanı sıra sermaye ve emek de kontrol değişkeni olarak kullanılmıştır. Metodolojik olarak çalışmada Westerlund ve Edgerton (2007) tarafından literatüre kazandırılan LM bootstrap panel eşbütünleşme testinden ve Eberhardt ve Teal (2010) tarafından geliştirilen AMG tahmincisinden yararlanılmıştır. Bu iki yöntem de panel veri ekonometrisinde önemli bir yere sahip olan yatay kesit bağımlılığı sorununu dikkate almaktadır. Çalışmanın ampirik sonuçlarına göre, bahsi geçen değişkenler arasında uzun dönemli bir ilişkinin olduğu tespit edilmiştir. Sermaye oluşumunun ekonomik büyüme üzerindeki etkisi bütün ülkeler için pozitifken, emeğin etkisinin ise ülke bazında farklılıklar gösterdiği görülmüştür. Bununla birlikte, enerji verimliliğinin ekonomik büyüme üzerindeki etkisi irdelendiğinde ise enerji verimliliğindeki iyileşmelerin ekonomik büyümeyi G7’deki yedi ülkeden beşinde olumlu yönde etkilediği tespit edilmiştir. Çalışmadan elde edilen sonuçlar politika yapıcılar için birtakım öneriler sunmaktadır.

Anahtar Kelimeler

• Ekonomik büyüme
• emek
• enerji verimliliği endeksi
• G7 ülkeleri
• sermaye oluşumu
• panel veri analizi

Effects of Energy Efficiency Index on Economic Activity: The Case of G7 Countries

Öz

This investigation aims to examine the effects of energy efficiency improvements on economic growth for G7 countries during 1971-2018. To measure energy efficiency, we calculate the energy efficiency index (EEI) using the Fisher Ideal index decomposition method. This study utilizes capital and labor as control variables, in addition to the EEI variable, as determinants of economic growth. Methodologically, this paper conducts the LM (Lagrange Multiplier) bootstrap panel cointegration test which is developed by Westerlund ve Edgerton (2007), and the AMG (Augmented Mean Group) estimator of Eberhardt ve Teal (2010). Both methodologies take into consideration of cross-sectional dependency (CD) issue in the panel setting. The empirical results of this paper indicate that there is a cointegration relationship between the aforementioned variables. In detail, the impact of capital formation on economic growth is positive for all countries, while the effect of labor varies across countries. Besides, it is found that an improvement in energy efficiency leads to an advancement in economic growth for five out of seven G7 countries. The empirical findings of this paper provide some implications for policymakers.

Anahtar Kelimeler

• Capital formation
• economic growth
• energy efficiency index
• G7 countries
• labor
• panel data analysis

Kaynakça

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