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G-7 ÜLKELERİNDE YENİLENEBİLİR ENERJİ İLE BÜYÜME ARASINDAKİ İLİŞKİ: PANEL VERİ ANALİZİ

Yıl 2021, Cilt: 20 Sayı: 42, 1086 - 1101, 19.12.2021
https://doi.org/10.46928/iticusbe.772809

Öz

Küresel iklim değişikliğinin çevreye verdiği zarar ekonomileri katı fosil atıklar yerine yenilenebilir enerji kaynaklarına yönlendirmiştir. Başlangıçta gelişmiş ülkeler tarafından yapılan yenilenebilir enerji yatırımları fazla iken özellikle son yıllarda gelişmekte olan ülkelerin yapmış oldukları yatırımlar artmıştır. Yenilenebilir enerji küresel iklim değişikliğini azaltmadaki rolü nedeniyle önem taşımaktadır.
Amaç: Bu çalışmanın amacı 1990 – 2017 döneminde G-7 ülkelerinde yenilenebilir enerji tüketimi ile ekonomik büyüme arasında uzun dönemli bir ilişkinin varlığını araştırmaktır.
Yöntem: 1990 – 2017 döneminin ele alındığı çalışmada yatay kesit bağımlılığı söz konusu olduğu için ikinci nesil birim kök testlerinden Bai & Ng (2010) tarafından geliştirilen yeni PANIC testleri uygulanmıştır. Uzun dönemli bir ilişkinin varlığı Westerlund (2008) tarafından geliştirilen Durbin-Hausman testi ile incelenmiştir.
Bulgular: Yapılan analiz sonucunda G-7 ülkelerinde yenilenebilir enerji tüketimi ile ekonomik büyüme arasında herhangi bir uzun dönemli ilişkiye rastlanmamıştır.
Özgünlük: G-7 ülkelerinde yenilenebilir enerji tüketimi ile ekonomik büyüme arasında herhangi bir uzun dönemli ilişkinin bulunmaması bu ekonomilerde yenilenebilir enerjinin ekonomik büyüme üzerinde belirleyici bir rol oynamadığını ifade eder. Çünkü G-7 ekonomileri büyümelerini gerçekleştirmede yükselen piyasa ekonomileri gibi enerjiye bağımlı değildir. G-7 ülkeleri özelinde bu ilişkinin ortaya konmasının literatüre katkı sağladığı belirtilebilir.

Kaynakça

  • Acaravci, A., & Ozturk, I. (2010). "Electricity Consumption-Growth Nexus: Evidence from Panel Data for Transition Countries", Energy Economics, 32, 604–608.
  • Aoyama, Y., & Castells, M. (2002). "An Empirical Assessment of the Informational Society: Employment and Occupational Structures of G-7 Countries, 1920-2000", International Labour Review, 141(1–2), 123–159.
  • Apergis, N., & Payne, J. E. (2010). "Renewable Energy Consumption and Growth in Eurasia", Energy Economics, 32, 1392–1397.
  • Apergis, N., & Payne, J. E. (2011). "On the Causal Dynamics between Renewable and Non-Renewable Energy Consumption and Economic Growth in Developed and Developing Countries", Energy Systems, 2, 299–312.
  • Bai, J., & Ng, S. (2004). "A Panic Attack on Unit Roots and Cointegration", Econometrica, 72(4), 1127–1177.
  • Bai, J., & Ng, S. (2010). "Panel Unit Root Tests with Cross-Section Dependence: A Further Investigation", Econometric Theory, 26, 1088–1114.
  • BP (2018), Statistical Review of World Energy All-Data, <https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/xlsx/energy-economics/statistical-review/bp-stats-review-2019-all-data.xlsx>, 10.04.2019.
  • Breitung, J. (2000). "The Local Power of Some Unit Root Tests for Panel Data",Baltagi, B.H., Fomby, T.B. and Carter Hill, R. (Ed.) Nonstationary Panels, Panel Cointegration, and Dynamic Panels (Advances in Econometrics, Vol. 15), Emerald Group Publishing Limited, Bingley, 161-177.
  • Breusch, T. S., & Pagan, A. R. (1980). "The Lagrange Multipler Test and its Applications to Model Specification in Econometrics", The Review of Economic Studies, 47(1), 239–253.
  • Castells, M., & Aoyama, Y. (1994). "Paths towards the Informational Society: Employment Structure in G-7 Countries, 1920-90", International Labour Review, 133(1), 5–33.
  • Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D., & Trembling, A. (2015). "Renewable Energy and Growth: Evidence from Heterogeneous Panel of G7 Countries Using Granger Causality", Renewable and Sustainable Energy Reviews, 52, 1405–1412.
  • Cheng, B. S. (1995). "An Investigation of Cointegration and Causality between Energy Consumption and Economic Growth", The Journal of Energy and Development , 21(1), 73–84.
  • Cho, S., Heo, E., & Kim, J. (2015). "Causal Relationship between Renewable Energy Consumption and Economic Growth: Comparison between Developed and Less-Developed Countries", Geosystem Engineering, 18(6), 284–291.
  • Choi, I. (2001). "Unit Root Tests for Panel Data", Journal of International Money and Finance, 20, 249–272.
  • Hung-Pin, L. (2014). "Renewable Energy Consumption and Economic Growth in Nine OECD Countries: Bounds Test Approach and Causality Analysis", The Scientific World Journal, 2014, 1-6.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003), "Testing for Unit Roots in Heterogeneous Panels", Journal of Econometrics, 115, 53–74.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties", Journal of Econometrics, 108(1), 1–24.
  • Maddala, G. S., & Wu, S. (1999). "A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test", Oxford Bulletin of Economics and Statistics, 61, 631–652.
  • Menegaki, A. N. (2011). "Growth and Renewable Energy in Europe: A Random Effect Model with Evidence for Neutrality Hypothesis", Energy Economics, 33(2), 257–263.
  • 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.
  • Nazlioglu, S., Lebe, F., & Kayhan, S. (2011). "Nuclear Energy Consumption and Economic Growth in OECD Countries: Cross-Sectionally Dependent Heterogeneous Panel Causality Analysis", Energy Policy, 39(10), 6615–6621.
  • Payne, J. E. (2009). "On the Dynamics of Energy Consumption and Output in the US", Applied Energy, 86(4), 575–577.
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. IZA Discussion Paper, no. 1240, http://ftp.iza.org/dp1240.pdf
  • Pesaran, M. H. (2007). "A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence", Journal of Applied Econometrics, 22, 265–312.
  • Pesaran, M. H., & Yamagata, T. (2008). "Testing Slope Homogeneity in Large Panels", Journal of Econometrics, 142, 50–93.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). "A Bias-Adjusted LM Test of Error Cross-Section Independence", Econometrics Journal, 11(1), 105–127.
  • Reese, S., & Westerlund, J. (2016). "Panicca: Panic on Cross-Section Averages", Journal of Applied Econometrics, 31, 961–981.
  • REN-21 (2016), Renewables 2016 – Global Status Report. <https://www.ren21.net/wp-content/uploads/2019/05/REN21_GSR2016_FullReport_en_11.pdf>, 12.01.2020.
  • REN-21 (2018), Renewables 2018 – Global Status Report. <https://www.ren21.net/wp-content/uploads/2019/05/GSR2018_Full-Report_English.pdf>, 12.01.2020.
  • Saad, W., & Taleb, A. (2018). "The Causal Relationship between Renewable Energy Consumption and Economic Growth: Evidence from Europe", Clean Technologies and Environmental Policy, 20(1), 127–136.
  • Solarin, A. S., & Ozturk, I. (2016). "The Relationship between Natural Gas Consumption and Economic Growth in OPEC Members", Renewable and Sustainable Energy Reviews, 58, 1348–1356.
  • Soytas, U., & Sari, R. (2003). "Energy Consumption and GDP: Causality Relationship in G-7 Countries and Emerging Markets", Energy Economics, 25(1), 33–37.
  • Soytas, U., & Sari, R. (2006). "Energy Consumption and Income in G-7 Countries", Journal of Policy Modeling, 28(7), 739–750.
  • Smith, L.V., Leybourne, S., Kim, T. H., & Newbold, P. (2004). "More Powerful Panel Data Unit Root Tests with an Application to Mean Reversion in Real Exchange Rates", Journal of Applied Econometrics, 19(2), 147–170.
  • Tugcu, C. T., Ozturk, I., & Aslan, A. (2012). "Renewable and Non-Renewable Energy Consumption and Economic Growth Relationship Revisited: Evidence from G7 Countries. Energy Economics, 34(6), 1942–1950.
  • UNEP (2016), Global Trends in Renewable Energy Investment 2016. <https://www.actu-environnement.com/media/pdf/news-26477-rapport-pnue-enr.pdf >, 05.01.2020.
  • UNEP (2019), Global Trends in Renewable Energy Investment 2019. <https://www.unenvironment.org/resources/report/global-trends-renewable-energy-investment-2019>, 05.01.2020.
  • Westerlund, J. (2008). “Panel Cointegration Tests of the Fisher Effect” , Journal of Applied Econometrics, 23, 193-223.

THE RELATIONSHIP BETWEEN RENEWABLE ENERGY AND GROWTH IN G-7 COUNTRIES: PANEL DATA ANALYSIS

Yıl 2021, Cilt: 20 Sayı: 42, 1086 - 1101, 19.12.2021
https://doi.org/10.46928/iticusbe.772809

Öz

The damage caused by global climate change has led economies to renewable energy sources instead of solid fossil wastes. While the renewable energy investments made by the developed countries were high at the beginning, the investments made by the developing countries have increased significantly in recent years. Renewable energy is vital because of its role in reducing global climate change.
Purpose: The purpose of this study is to investigate the existence of a long-term relationship between renewable energy consumption and economic growth in the G-7 countries during the period of 1990 – 2017.
Method: Analyse focused on the 1990 – 2017 period and used new PANIC tests, one of the second-generation unit root tests developed by Bai & Ng (2010) due to cross-section dependency. The long-term relationship is analysed with Durbin-Hausman test, which is developed by Westerlund (2008).
Findings: The analysis result showed that no long-term relationship between renewable energy consumption and economic growth is found among G7 countries.
Originality: The absence of any long-term relationship between renewable energy consumption and economic growth in G-7 countries indicates that renewable energy does not play a decisive role on economic growth in these economies. Because G-7 economies are not dependent on energy like emerging market economies in realizing their growth. It can be stated that revealing this relationship specific to the G-7 countries contributes to the literature

Kaynakça

  • Acaravci, A., & Ozturk, I. (2010). "Electricity Consumption-Growth Nexus: Evidence from Panel Data for Transition Countries", Energy Economics, 32, 604–608.
  • Aoyama, Y., & Castells, M. (2002). "An Empirical Assessment of the Informational Society: Employment and Occupational Structures of G-7 Countries, 1920-2000", International Labour Review, 141(1–2), 123–159.
  • Apergis, N., & Payne, J. E. (2010). "Renewable Energy Consumption and Growth in Eurasia", Energy Economics, 32, 1392–1397.
  • Apergis, N., & Payne, J. E. (2011). "On the Causal Dynamics between Renewable and Non-Renewable Energy Consumption and Economic Growth in Developed and Developing Countries", Energy Systems, 2, 299–312.
  • Bai, J., & Ng, S. (2004). "A Panic Attack on Unit Roots and Cointegration", Econometrica, 72(4), 1127–1177.
  • Bai, J., & Ng, S. (2010). "Panel Unit Root Tests with Cross-Section Dependence: A Further Investigation", Econometric Theory, 26, 1088–1114.
  • BP (2018), Statistical Review of World Energy All-Data, <https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/xlsx/energy-economics/statistical-review/bp-stats-review-2019-all-data.xlsx>, 10.04.2019.
  • Breitung, J. (2000). "The Local Power of Some Unit Root Tests for Panel Data",Baltagi, B.H., Fomby, T.B. and Carter Hill, R. (Ed.) Nonstationary Panels, Panel Cointegration, and Dynamic Panels (Advances in Econometrics, Vol. 15), Emerald Group Publishing Limited, Bingley, 161-177.
  • Breusch, T. S., & Pagan, A. R. (1980). "The Lagrange Multipler Test and its Applications to Model Specification in Econometrics", The Review of Economic Studies, 47(1), 239–253.
  • Castells, M., & Aoyama, Y. (1994). "Paths towards the Informational Society: Employment Structure in G-7 Countries, 1920-90", International Labour Review, 133(1), 5–33.
  • Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D., & Trembling, A. (2015). "Renewable Energy and Growth: Evidence from Heterogeneous Panel of G7 Countries Using Granger Causality", Renewable and Sustainable Energy Reviews, 52, 1405–1412.
  • Cheng, B. S. (1995). "An Investigation of Cointegration and Causality between Energy Consumption and Economic Growth", The Journal of Energy and Development , 21(1), 73–84.
  • Cho, S., Heo, E., & Kim, J. (2015). "Causal Relationship between Renewable Energy Consumption and Economic Growth: Comparison between Developed and Less-Developed Countries", Geosystem Engineering, 18(6), 284–291.
  • Choi, I. (2001). "Unit Root Tests for Panel Data", Journal of International Money and Finance, 20, 249–272.
  • Hung-Pin, L. (2014). "Renewable Energy Consumption and Economic Growth in Nine OECD Countries: Bounds Test Approach and Causality Analysis", The Scientific World Journal, 2014, 1-6.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003), "Testing for Unit Roots in Heterogeneous Panels", Journal of Econometrics, 115, 53–74.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties", Journal of Econometrics, 108(1), 1–24.
  • Maddala, G. S., & Wu, S. (1999). "A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test", Oxford Bulletin of Economics and Statistics, 61, 631–652.
  • Menegaki, A. N. (2011). "Growth and Renewable Energy in Europe: A Random Effect Model with Evidence for Neutrality Hypothesis", Energy Economics, 33(2), 257–263.
  • 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.
  • Nazlioglu, S., Lebe, F., & Kayhan, S. (2011). "Nuclear Energy Consumption and Economic Growth in OECD Countries: Cross-Sectionally Dependent Heterogeneous Panel Causality Analysis", Energy Policy, 39(10), 6615–6621.
  • Payne, J. E. (2009). "On the Dynamics of Energy Consumption and Output in the US", Applied Energy, 86(4), 575–577.
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. IZA Discussion Paper, no. 1240, http://ftp.iza.org/dp1240.pdf
  • Pesaran, M. H. (2007). "A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence", Journal of Applied Econometrics, 22, 265–312.
  • Pesaran, M. H., & Yamagata, T. (2008). "Testing Slope Homogeneity in Large Panels", Journal of Econometrics, 142, 50–93.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). "A Bias-Adjusted LM Test of Error Cross-Section Independence", Econometrics Journal, 11(1), 105–127.
  • Reese, S., & Westerlund, J. (2016). "Panicca: Panic on Cross-Section Averages", Journal of Applied Econometrics, 31, 961–981.
  • REN-21 (2016), Renewables 2016 – Global Status Report. <https://www.ren21.net/wp-content/uploads/2019/05/REN21_GSR2016_FullReport_en_11.pdf>, 12.01.2020.
  • REN-21 (2018), Renewables 2018 – Global Status Report. <https://www.ren21.net/wp-content/uploads/2019/05/GSR2018_Full-Report_English.pdf>, 12.01.2020.
  • Saad, W., & Taleb, A. (2018). "The Causal Relationship between Renewable Energy Consumption and Economic Growth: Evidence from Europe", Clean Technologies and Environmental Policy, 20(1), 127–136.
  • Solarin, A. S., & Ozturk, I. (2016). "The Relationship between Natural Gas Consumption and Economic Growth in OPEC Members", Renewable and Sustainable Energy Reviews, 58, 1348–1356.
  • Soytas, U., & Sari, R. (2003). "Energy Consumption and GDP: Causality Relationship in G-7 Countries and Emerging Markets", Energy Economics, 25(1), 33–37.
  • Soytas, U., & Sari, R. (2006). "Energy Consumption and Income in G-7 Countries", Journal of Policy Modeling, 28(7), 739–750.
  • Smith, L.V., Leybourne, S., Kim, T. H., & Newbold, P. (2004). "More Powerful Panel Data Unit Root Tests with an Application to Mean Reversion in Real Exchange Rates", Journal of Applied Econometrics, 19(2), 147–170.
  • Tugcu, C. T., Ozturk, I., & Aslan, A. (2012). "Renewable and Non-Renewable Energy Consumption and Economic Growth Relationship Revisited: Evidence from G7 Countries. Energy Economics, 34(6), 1942–1950.
  • UNEP (2016), Global Trends in Renewable Energy Investment 2016. <https://www.actu-environnement.com/media/pdf/news-26477-rapport-pnue-enr.pdf >, 05.01.2020.
  • UNEP (2019), Global Trends in Renewable Energy Investment 2019. <https://www.unenvironment.org/resources/report/global-trends-renewable-energy-investment-2019>, 05.01.2020.
  • Westerlund, J. (2008). “Panel Cointegration Tests of the Fisher Effect” , Journal of Applied Econometrics, 23, 193-223.
Toplam 38 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makaleleri
Yazarlar

Meryem Filiz Baştürk 0000-0002-9085-2295

Yayımlanma Tarihi 19 Aralık 2021
Gönderilme Tarihi 24 Temmuz 2020
Kabul Tarihi 10 Ekim 2021
Yayımlandığı Sayı Yıl 2021 Cilt: 20 Sayı: 42

Kaynak Göster

APA Filiz Baştürk, M. (2021). G-7 ÜLKELERİNDE YENİLENEBİLİR ENERJİ İLE BÜYÜME ARASINDAKİ İLİŞKİ: PANEL VERİ ANALİZİ. İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, 20(42), 1086-1101. https://doi.org/10.46928/iticusbe.772809