Gelişmekte Olan Ekonomilerde Doğrudan Yabancı Yatırımlar ve Enerji Tüketimi: Yatay Kesit Bağımlılığı Altında Heterojen Dinamik Panel Veri Analizi

Yıl 2021, Cilt: 10 Sayı: 20, 18 - 27, 31.12.2021

Muhammed Benli

Öz

Bu çalışma, 1987-2016 dönemi için 40 gelişmekte olan ülkede, doğrudan yabancı yatırımların yenilenebilir ve yenilenemez enerji tüketimi üzerindeki etkisini incelemektedir. Bu amaçla, heterojenlik, içsellik ve/veya yatay kesit bağımlılığı dikkate alınarak, literatürde dinamik panel veri modellerinin tahmini için önerilen çeşitli tahmin edicileri kullanılmıştır. Elde edilen ampirik sonuçlar, ekonomik büyümenin enerji tüketiminin temel itici güçlerinden biri olduğunu göstermekle birlikte, seçili ülkelerde analiz dönemi için doğrudan yabancı yatırımların hem yenilenebilir hem de yenilenemez enerji tüketimi üzerindeki etkisi hakkında herhangi bir ampirik bulgu elde edilememiştir. Dolayısıyla bu bulgular, ev sahibi ülkelerin messetme kabiliyetlerinin, enerji yoğunluklarının ve çevre düzenlemelerinin önemini gösteren önemli politika sonuçları olabilir.

Anahtar Kelimeler

Enerji Tüketimi, FDI, Panel Veri Analizi

Foreign Direct Investment and Energy Consumption in Developing Economies: An Analysis of Heterogeneous Dynamic Panel Data Models with Cross Sectional Dependency

Öz

This study reexamines the effect of foreign direct investment on both renewable and nonrenewable energy consumption in 40 developing countries over the period 1987-2016. Taking into account heterogeneity, endogeneity, and/or cross sectional dependency, we employ various estimators proposed for the estimation of dynamic panel data models in the literature. The empirical results suggest that economic growth is one of main drivers of energy consumption, while providing no evidence on the effect of foreign direct investment on both renewable and nonrenewable energy consumption in selected countries for the time period of the analysis. Therefore, these findings may have important policy ramifications, indicating the importance of absorptive capabilities, energy intensity and environmental regulations of host countries.

Anahtar Kelimeler

Energy Consumption, FDI, Panel Data Analysis

Kaynakça

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