DETERMINATION OF THE EFFECT OF ENERGY CONSUMPTION ON ECONOMIC GROWTH IN CENTRAL ASIAN TURKISH REPUBLICS
Abstract
Energy plays an important role in the economic growth, social development and individuals’ prosperity and comfort of countries. The effect of energy consumption on economic growth depends on the economic structure of the country.
In this study, per capita electricity consumption (kwh) and Gross Domestic Product ($) per capita for the period covering 1991-2014 for six countries in Central Asia (Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan) panel data analysis was used to investigate the relationship between the series. According to the results, the existence of the cointegration relationship among the variables discussed in the examined countries was determined.
Keywords
References
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