Avrupa, Asya-Pasifik ve Amerika Ülkelerinde Enerji ve Ekonomik Büyüme İlişkisi: Panel Veri Yaklaşımı

Yıl 2026, Cilt: 17 Sayı: 1, 155 - 170, 30.01.2026

Yasin Büyükkör

https://izlik.org/JA26RR89EM

Öz

Bu çalışma, 1996-2023 dönemini kapsayan panel veri kullanarak Avrupa (32 ülke), Asya-Pasifik (9 ülke) ve Amerika (9 ülke) için enerji tüketiminin ekonomik büyüme üzerindeki etkisini araştırmaktadır. Analizde, toplam enerji tüketimi (totec) ve toplam petrol tüketimi (oil) bağımsız değişkenler olarak belirlenirken, kontrol değişkenleri ihracat (exp) ve gayri safi sabit sermaye oluşumu (gfc) kontrol değişkenleri olarak dahil edilmiştir. Kişi başına düşen reel GSYİH (gdp) bağımlı değişken olarak kullanılmıştır. Kesitsel bağımlılık için test edildikten sonra, değişkenlerin durağanlık özellikleri Pesaran CIPS testi kullanılarak incelenmiştir. Tahmin edilen modeller için, değişen varyans ve otokorelasyon sorunları ele alınmıştır; parametre tahminleri, sabit etkili modeller için Driscoll-Kraay yöntemi ve rastgele etkili modeller için Panel Düzeltilmiş Standart Hatalar (PCSE) yöntemi kullanılarak elde edilmiştir. Bulgular hem toplam enerji hem de petrol tüketiminin Avrupa ve Asya-Pasifik ülkelerinde ekonomik büyüme üzerinde pozitif ve istatistiksel olarak anlamlı bir etkiye sahip olduğunu ortaya koymaktadır. Amerikan ülkelerinde, toplam enerji tüketimi büyüme için istatistiksel olarak anlamlı değildir, ancak petrol tüketiminin anlamlı ve pozitif yönde etkisi vardır. Ayrıca, her üç bölgede de ihracat ve brüt sabit sermaye oluşumu ekonomik büyümeyi önemli ölçüde desteklemektedir. Sonuçlar enerji-büyüme hipotezleri bağlamında değerlendirilmiş ve enerji tüketiminin ekonomik büyüme üzerinde bölgesel olarak farklı etkiler gösterdiğini, enerji politikalarının büyüme hedefleriyle uyumlu hale getirilmesinin gerekliliğini vurgular.

Anahtar Kelimeler

Panel Veri Analizi , Ekonomik Büyüme , Enerji-Büyüme Hipotezleri , Discoll-Kraay Yöntemi , Panel Düzeltilmiş Standart Hatalar Yöntemi

Energy and Economic Growth Relationship in European, Asia-Pacific, and American Countries: A Panel Data Approach

https://izlik.org/JA26RR89EM

Öz

This study investigates the impact of energy consumption on economic growth for Europe (32 countries), Asia Pacific (9 countries) and America (9 countries) using panel data covering the period 1996-2023. In the analysis, total energy consumption (totec) and total oil consumption (oil) are determined as independent variables, while export (exp) and gross fixed capital formation (gfc) are included as control variables. Real GDP per capita (gdp) is used as the dependent variable. After testing for cross-sectional dependency, the stationarity properties of the variables are examined using the Pesaran CIPS test. For the estimated models, heteroskedasticity and autocorrelation issues are addressed; parameter estimates are obtained using the Driscoll-Kraay method for fixed-effect models and the Panel Corrected Standard Errors (PCSE) method for random-effect models. The findings reveal that both total energy and oil consumption have a positive and statistically significant impact on economic growth in Europe and Asia Pacific countries. In the American countries, total energy consumption is not statistically significant for growth, but oil consumption has a positive and significant effect. Moreover, exports and gross fixed capital formation significantly support economic growth in all three regions. The results are evaluated in the context of the energy-growth hypotheses, and they show that energy consumption has regionally differentiated effects on economic growth, highlighting the need to align energy policies with growth objectives.

Anahtar Kelimeler

Data Analysis , Economic Growth , Energy-Growth Hypotheses , Driscoll-Kraay Method , Panel Corredted Standart Error Method

Kaynakça

• Akarca, A. T., & Long, T. V. (1980). On the relationship between energy and GNP: A reexamination. Journal of Energy and Development, 5(2), 326–331.
• Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth in Central America: evidence from a panel cointegration and error correction model. Energy economics, 31(2), 211-216.
• Appiah, M. O. (2018). Investigating the multivariate Granger causality between energy consumption, economic growth and CO2 emissions in Ghana. Energy Policy, 112, 198-208.
• Azam, M., Khan, A. Q., Bakhtyar, B., & Emirullah, C. (2015). The causal relationship between energy consumption and economic growth in the ASEAN-5 countries. Renewable and Sustainable Energy Reviews, 47, 732-745.
• Azubuike, N. C., Ikiensikimama, S. S., & Osokogwu, U. Modelling the impact of total energy consumption on economic growth and carbon emissions in sub-saharan africa. Available at SSRN 5234134.
• Beck, N., & Katz, J. N. (1995). What to do (and not to do) with time-series cross-section data. American Political Science Review, 89(3), 634-647.
• Belke, A., Dobnik, F & Dreger, C. (2011). Energy consumption and economic growth: New insights into the cointegration relationship. Energy Economics, 33(5), pp. 782-789.
• Bhargava, A., Franzini, L., & Narendranathan, W. (1982). Serial correlation and the fixed effects model. The Review of Economic Studies, 49(4), 533-549.
• Bhattacharya, M., Paramati, S. R., Ozturk, I. & Bahattacharya, S. (2016). The effect of renewable energy consumption on economic growth: Evidence from top 38 countries. Applied Energy, 162, pp. 733-741.
• Breusch, T. S., & Pagan, A. R. (1979). A simple test for heteroscedasticity and random coefficient variation. Econometrica, 1287-1294.
• Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 47(1), 239-253.
• Chen, S. T., Kuo, H. I., & Chen, C. C. (2007). The relationship between GDP and electricity consumption in 10 Asian countries. Energy policy, 35(4), 2611-2621.
• Driscoll, J. C., & Kraay, A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of economics and statistics, 80(4), 549-560.
• Eggoh, J. C., Bangake, C., & Rault, C. (2011). Energy consumption and economic growth revisited in African countries. Energy policy, 39(11), 7408-7421.
• Erol, U., & Yu, E. S. H. (1987). On the causal relationship between energy and income for industrialized countries. Journal of Energy and Development, 13(1), 113–122.
• Espoir, D. K., Sunge, R., & Bannor, F. (2023). Economic growth, renewable and nonrenewable electricity consumption: Fresh evidence from a panel sample of African countries. Energy Nexus, 9, 100165.
• Fan, J., Liao, Y., & Yao, J. (2015). Power enhancement in high-dimensional cross-sectional tests. Econometrica, 83(4), 1497–1541. https://doi.org/10.3982/ECTA12749.
• Ghazouani, T. (2024). Is the relationship between clean/non-clean energy consumption and economic growth timevarying? Non-parametric evidence for MENA region. Journal of the Knowledge Economy, 1-25.
• Gozgor, G., Lau, C. K. M. & Lu, Z. (2018). Energy consumption and economic growth: New evidence from the OECD countries. Energy, 153, pp. 27-34.
• Guliyev, H. (2025). Heterogeneous panel data model with sharp and smooth changes: Testing green growth hypothesis in G7 countries. Innovation and Green Development, 4(3), 100245.
• Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 1251-1271.
• Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53-74.
• Im, K.S., Pesaran, M.H., Shin, Y., (1997). Testing for Unit Roots in Heterogeneous Panels. Working Paper, University of Cambridge.
• Inglesi-Lotz, R. (2016). The impact of renewable energy consumption to economic growth: A panel data application. Energy economics, 53, 58-63.
• Ivanovski, K., Hailemariam, A., & Smyth, R. (2021). The effect of renewable and non-renewable energy consumption on economic growth: Non-parametric evidence. Journal of Cleaner Production, 286, 124956.
• Kahia, M., Aïssa, M. S. B., & Lanouar, C. (2017). Renewable and non-renewable energy use-economic growth nexus: The case of MENA Net Oil Importing Countries. Renewable and Sustainable Energy Reviews, 71, 127-140.
• Kar, M., Ağır, H., & Türkmen, S. (2019). Seçilmiş gelişmekte olan ülkelerde elektrik tüketiminin ekonomik büyümeye etkisinin panel ekonometrik analizi. Uluslararası Ekonomik Araştırmalar Dergisi, 5(3), 37-48.
• Koçak, E., & Şarkgüneşi, A. (2017). The renewable energy and economic growth nexus in Black Sea and Balkan countries. Energy policy, 100, 51-57.
• Kraft, J., & Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3(2), 401–403.
• Lee, C. C., & Chang, C. P. (2008). Energy consumption and economic growth in Asian economies: a more comprehensive analysis using panel data. Resource and energy Economics, 30(1), 50-65.
• Mehrara, M. (2007). Energy consumption and economic growth: the case of oil exporting countries. Energy policy, 35(5), 2939-2945.
• Mutascu, M. (2016). A bootstrap panel Granger causality analysis of energy consumption and economic growth in the G7 countries. Renewable and Sustainable Energy Reviews, 63, 166-171.
• Newey, W. K., & West, K. D. (1987). A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix. Econometrica, 55(3), 703–708. https://doi.org/10.2307/1913610
• Okşak, Y., ve Sarıtaş, T. (2022). Petrol, Doğalgaz ve Ekonomik Büyüme: AB Örneği. Bilgi Ekonomisi ve Yönetimi Dergisi, 17(1), 1-16.
• Parks, R. W. (1967). Efficient estimation of a system of regression equations when disturbances are both serially and contemporaneously correlated. Journal of The American Statistical Association, 62(318), 500-509.
• Payne, J. E. (2010). Survey of the international evidence on the causal relationship between energy consumption and growth. Journal of Economic Studies, 37(1), 53-95.
• Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels (CESifo Working Paper No. 1229). CESifo.
• Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
• Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127.
• Pirlogea, C., & Cicea, C. (2012). Econometric perspective of the energy consumption and economic growth relation in European Union. Renewable and sustainable energy reviews, 16(8), 5718-5726.
• Raza, A., Khan, M. A., & Bakhtyar, B. (2024). Exploring the Linkage Between Energy Consumption and Economic Growth in BRICS Countries Through Disaggregated Analysis. Journal of the Knowledge Economy, 1-23.
• Recepoğlu, M., Doğanay, M. A., ve Değer, M. K. (2020). Enerji tüketimi ile ekonomik büyüme arasındaki ilişkiler: Türkiye’de iller üzerine panel veri analizleri 2004-2014. Doğuş Üniversitesi Dergisi, 21(1), 69-80.
• Ritahi, O., & Marmad, T. (2025). The Nexus between Oil Consumption, Economic Growth, and CO2 Emissions in Morocco. International Journal of Energy Economics and Policy, 15(3), 436-445.
• Tang, C. F., & Tan, E. C. (2013). Exploring the nexus of electricity consumption, economic growth, energy prices and technology innovation in Malaysia. Applied Energy, 104, 297-305.
• Wang, Q., Ali, A., Chen, Y., & Xu, X. (2023). An empirical analysis of the impact of renewable and non-renewable energy consumption on economic growth and carbon dioxide emissions: evidence from seven Northeast Asian countries. Environmental Science and Pollution Research, 30(30), 75041-75057.
• Xin-gang, Z., & Jin, Z. (2022). Industrial restructuring, energy consumption and economic growth: Evidence from China. Journal of Cleaner Production, 335, 130242.
• Yoo, S. H. (2005). Electricity consumption and economic growth: evidence from Korea. Energy policy, 33(12), 1627- 1632.
• Yu, E. S. H., & Hwang, B. K. (1984). The relationship between energy and GNP: Further results. Energy Economics,6(3), 186–190.