ENERGY IMPORT AND ECONOMIC GROWTH: AN ANALYSIS ON SOME ENERGY IMPORTER COUNTRIES

Yıl 2019, Cilt: 20 Sayı: 2, 317 - 334, 30.11.2019

Adem Üzümcü Ülker Çam Karakaş Adem Karakaş

Öz

In many studies analyzing the relationship
between energy production or energy consumption, and economic growth; unilateral
or bilateral causality relationship and mostly a cointegration relationship are
discovered. Although quite a lot of studies about energy consumption and
economic growth relationship have been done in the literature without making a distinction
between energy importer and energy exporter countries; the number of studies
that analysis the relationship between the change in energy import of net
energy importer countries and economic growth is quite small.  In this study, the relationship between the
change in energy import and economic growth within the context of energy
consumption in the sample of 23 net energy importer developed and developing
countries has been tested with this purpose by using Pedroni (1999, 2004) panel
cointegration test and Granger causality analysis. In the conclusion of the
study, the findings that a change in energy import increases economic growth in
a way that supports growth hypothesis, and the existence of bilateral causality
between two variables in a way that confirms feedback hypothesis have been
obtained.

Anahtar Kelimeler

energy import, economic growth, panel cointegration

Kaynakça

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