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TÜRKİYE’DE YENİLENEBİLİR ENERJİ TÜKETİMİNİN EKONOMİK BÜYÜME ÜZERİNDEKİ ASİMETRİK ETKİLERİ

Year 2019, Volume: 6 Issue: 1, 117 - 134, 29.04.2019
https://doi.org/10.30798/makuiibf.505104

Abstract

Ekonomik büyüme ve kalkınma, tüm dünya ülkelerinin en temel amacıdır. Artan enerji talebinin önemli bir kısmı birincil enerji kaynaklarından karşılanmasına rağmen, son yıllarda yenilenebilir enerji kaynaklarının üretim ve tüketimi de giderek artmaktadır. Bu çalışmanın amacı yenilenebilir enerji tüketiminin ekonomik büyüme üzerindeki asimetrik etkilerini ampirik olarak analiz etmektir. Türkiye’nin 1965-2017 dönemine ait verileri kullanılarak yapılan analizde, doğrusal olmayan gecikmesi dağıtılmış otoregresif model kullanılmıştır. Elde edilen bulgulara göre, yenilenebilir enerji tüketimi ile ekonomik büyüme arasında doğru orantılı bir ilişki vardır. Ancak yenilenebilir enerji tüketiminde meydana gelen pozitif ve negatif şoklar, büyüme üzerinde asimetrik etkiler ortaya koymaktadır. Çalışmada yenilenebilir enerji tüketimindeki pozitif şoklarının etkisinin, negatif şokların etkisine göre daha küçük olduğu bulunmuştur. Yenilenebilir enerji tüketimindeki yüzde birlik artış ekonomik büyümeyi yaklaşık olarak yüzde 0.4 oranında artırırken, yüzde birlik azalışlar büyümeyi yüzde 0,7 oranında azaltmaktadır. 

References

  • Akarca, A. T. & Long, T. V. (1980). On the Relationship Between Energy and GNP: A Reexamination. Journal of Energy and Development, 5, 326-331.
  • Altınay, G. & Karagöl, E. (2004). Structural Break, Unit Root, and the Causality Between Energy Consumption and GDP in Turkey. Energy Economics, 26, 985-994.
  • 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, 211-216.
  • Apergis, N. & Payne, J. E. (2010a). Renewable Energy Consumption and Economic Growth: Evidence from A Panel of OECD Countries. Energy Policy, 38(1), 656–660.
  • Apergis, N. & Payne, J. E. (2010b). Renewable Energy Consumption and Growth in Eurasia. Energy Economics, 32(6), 1392-1397.
  • Aqeel, A. & Butt, M. S. (2001). The Relationship between Energy Consumption and Economic Growth in Pakistan. Asia Pacific Development Journal, 8(2), 101-110.
  • Belloumi, M. (2009). Energy Consumption and GDP in Tunisia: Co-integration and Causality Analysis. Energy Policy, 37(7), 2745-2753.
  • Berndt, E. R. & Wood, D. O. (1975). Technology, prices, and the derived demand for energy. The Review of Economics and Statistics, 57(3), 259-268.
  • Bowden, N. & Payne, J.E. (2009). The Causal relationship between US energy consumption and real output: a disaggregated analysis. Journal of Policy Modeling, 31(2), 180-188.
  • BP Energy Outlook, 2015. http://www.bp.com/content/dam/bp/pdf/energy-economics/energy-outlook-2015/bp-energy-outlook-2035-booklet.pdf. [Son Erişim Tarihi 15 Kasım 2018].
  • Cheng, B. S. (1999). Causality Between Energy Consumption and Economic Growth in India: An Application of Co-integration and Error Correction Modeling. Indian Economic Review, 34(1), 39-49.
  • Cheng, B.S. & Lai, T.W. (1997). An Investigation of Co-integration and Causality between Energy Consumption and Economic Activity in Taiwan. Energy Economic, 19(4), 435-444.
  • Enders, W. (1995). Applied Econometric Time Series, John Wiley and Sons, Inc., New York.
  • Erdal, G., Erdal, H. & Esengün, K. (2008). The Causality between Energy Consumption and Economic Growth in Turkey. Energy Policy, 36 (10): 3838-3842.
  • Erdoğan, S. & Gürbüz, S. (2014). Türkiye’de Enerji Tüketimi ve Ekonomik Büyüme İlişkisi: Yapısal Kırılmalı Zaman Serisi Analizi. Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 32, 79-87.
  • Erol, U. & Yu, E. S. H. (1987). On the Causal Relationship between Energy and Income for Industrialized Countries. Journal of Energy and Development, 13, 113-122.
  • Glasure, Y. U. (2002). Energy and national income in Korea: further evidence on the role of omitted variables. Energy Economics, 24, 355-365.
  • Güloğlu, B. (2008). Ekonometri Ders Notları, Pamukkale Üniversitesi Yaz Seminerleri, Denizli.
  • Halıcıoğlu, F. (2009). An econometric study of CO2 emissions, energy consumption, income and foreign trade in Turkey. Energy Policy, 37, 1156–64.
  • Ho, C-Y & Siu, K.W. (2007). A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An empirical investigation. Energy Policy, 35(4), 2507-2513.
  • Hwang, D. & Gum, B. (1991). The causal relationship between energy and GNP: the case of Taiwan. Journal of Energy and Development, 16, 219–26.
  • Hwang, J-H. & Yoo, S-H. (2014). Energy Consumption, Emissions and Economic Growth: Evidence from Indonesia. Quality and Quantity, 48, 63-73.
  • Jobert, T. & Karanfil, F. (2007). Sectoral Energy Consumption by Source and Economic Growth in Turkey, Energy Policy, 35, 5447-56.
  • Kaplan, M., Öztürk, İ. & Kalyoncu, H. (2011). Energy Consumption and Economic Growth in Turkey: Cointegration and Causality Analysis. Romanian Journal of Economic Forecasting, 2: 31-41.
  • Karagöl, E. T. & Kavaz, İ. (2017). Dünyada ve Türkiye’de Yenilenebilir Enerji. SETA Vakfı Yay., https://setav.org/assets/uploads/2017/04/YenilenebilirEnerji.pdf (Son Erişim Tarihi: 20. 05. 2018)
  • Karanfil, F. (2009). How many times again will we examine the energy–income nexus using a limited range of traditional econometric tools? Energy Policy, 36, 1191–4.
  • Kraft, J. & Kraft, A. (1978). On the Relationship Between Energy and GNP. Journal of Energy Development, 3, 401-403.
  • Lise, W. & Montfort, K. van (2005). Energy Consumption and GDP in Turkey: Is There a Cointegration Relationship? International Conference on Policy Modeling, June 29 – July2, Ist., Turkey. http://www.ecn.nl/docs/library/report/2005/rx05191.pdf.
  • Mucuk, M. & Uysal, D. (2009). Türkiye Ekonomisinde Enerji Tüketimi ve Ekonomik Büyüme. Maliye Dergisi, 105-115.
  • Narayan, P. K. & Smyth, R. (2008). Energy Consumption and Real GDP in G7 Countries: New Evidence from Panel Cointegration with Structural Breaks. Energy Economics, 30 (5), 2331-2341.
  • Narayan, S. & Narayan, P.K. (2004). Determinants of Demand of Fiji’s Exports: An Empirical Investigation. The Developing Economics, 17(1): 95-112.
  • Omri, A. (2013). CO2 Emissions, Energy Consumption and Economic Growth Nexus in MENA Countries: Evidence from Simultaneous Equations Models. Energy Economics, 40, 657-664.
  • Omri, A. (2014). An International Literature Survey on Energy-Economic Growth nexus: Evidence from Country-specific Studies. Renewable and Sustainable Energy Reviews, 38, 951-959.
  • Öztürk, İ. (2010). A Literature Survey on Energy-Growth nexus. Energy Policy, 38, 340-349.
  • Öztürk, İ. & Uddin, G. S. (2012). Causality Among Carbon Emissions, Energy Consumption and Growth In India. Economic Research, 25(3), 752-775.
  • Öztürk, İ., Kaplan, M. & Kalyoncu, H. (2013). The Causal Relationship Between Energy Consumption and GDP in Turkey. Energy and Enviroment, 24 (5): 727-734.
  • Paul, S. & Bhattacharya, R. N. (2004). Causality between energy consumption and economic growth in India: a note on conflicting results. Energy Economics, 26(6), 977-983.
  • Payne, J. E. (2010a). Survey of the Electricity Consuption-Growth Literature. Applied Energy, 87(3), 723-731.
  • Payne, J. E. (2010b). Survey of the International Evidence on the Causal Relatinship Between Energy Consuption and Growth. Journal of Economic Studies, 37(1), 53-95.
  • Perron, P. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica, 57, 1361-1401.
  • Pesaran, M. H. & Shin, Y. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. in Strom, S. (ed.) Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium. England: Cambridge University Press.
  • Pesaran, M. Hashem, Shin, Y. & Smith, R. J. (2001). Bounds Testing Approaches to The Analysis of Level Relationships. Journal of Applied Econometrics. 16(3): 289-326.
  • Samuel, Y. A., Manu, O. & Wereko, T. B. (2013). Determinants of Energy Consumption: A Review. International Journal of Management Sciences, 1(12), 482-487.
  • Schwert, G. W. (1989). Tests for Unit Roots: A Monte Carlo Investigation. Journal of Business and Economic Statistics, 7, 147-160.
  • Shin Y, Yu B, Greenwood-Nimmo M (2011) Modelling Asymmetric Cointegration and Dynamic Multiplier in a Nonlinear ARDL Framework, available at http://ssrn.com/abstract=1807745.
  • Sıca, E. & Şentürk, M. (2016). Economic Growth and Energy Consumption in Turkey and Italy: A Frequency Domain Causality Analysis. Ömer Halisdemir Üniversitesi İİBF Dergisi, 9(4): 107-119.
  • Soytaş, U., Sari, R. & Özdemir, O. (2001). Energy Consumption and GDP Relations in Turkey: A Cointegration and Vector Error Correction Analysis. Economies and Business in Transition: Facilitating Competitiveness and Change in the Global Enviroment Proceedings, pp. 838-844.
  • Stern, D. I. (2000). A multivariate cointegration analysis of the role of energy in the US macroeconomy. Energy Economics, 22(2), 267-283.
  • Topçu, M. & Tel, İ. (2018). Enerji-GSYH İlişkisine Yeni Bir Bakış: Türkiye ve G7 Ülkelerinde Gelir ve Sürdürülebilir Refah Yaklaşımlarının Karşılaştırılması. Ekonomi, Politika ve Finans Araştırmaları Dergisi, 3(3): 208-225.
  • Yu, E.S.H & Jin, J. C. (1984). Co-integration tests of energy consumption, income, and employment. Resources and Energy, 14, 259-266.
  • Yu, E.S.H. & Hwang, B.K. (1984). The Relationship between Energy and GNP: Further Results. Energy Economics, 6, 186-190.
  • Zamani, M. (2007). Energy Consumtion and Economic Activities in Iran. Energy Economics, 29(6), 1135-1140.
  • Zhang, X-P. & Cheng, X-M. (2009). Energy Consumption, Carbon Emissions, and Economic Growth in China. Ecological Economics, 68(10), 2706-2712.
  • Zivot, E. & Andrews, K.. (1992). Further Evidence on the Great Crash, the Oil Price Shock, and the Unit Root Hypothesis, Journal of Business and Economic Statistics, 10(10):251-70.

THE ASYMMETRIC EFFECTS OF RENEWABLE ENERGY CONSUMPTION ON ECONOMIC GROWTH IN TURKEY

Year 2019, Volume: 6 Issue: 1, 117 - 134, 29.04.2019
https://doi.org/10.30798/makuiibf.505104

Abstract

Economic growth and development is the main aim of all countries worldwide. Although an important part of the increasing demand is met by primary energy sources, the production and the consumption of renewable energy sources have risen in recent years. The objective of this study is to empirically analyze the asymmetric effects of renewable energy consumption on economic growth. In the analysis conducted using Turkey's 1965-2017 period data, the nonlinear autoregressive distributed lag (NARDL) model was used. According to the results, there is a direct correlation between renewable energy consumption and economic growth. However, positive and negative shocks in renewable energy consumption have asymmetric effects on growth. In the study, it has found that the impact of positive shocks in renewable energy consumption was smaller than the effect of negative shocks.The one percent increase in renewable energy consumption increases economic growth by approximately 0.4 percent, while the one percent fall decreases growth by 0.7 percent.

References

  • Akarca, A. T. & Long, T. V. (1980). On the Relationship Between Energy and GNP: A Reexamination. Journal of Energy and Development, 5, 326-331.
  • Altınay, G. & Karagöl, E. (2004). Structural Break, Unit Root, and the Causality Between Energy Consumption and GDP in Turkey. Energy Economics, 26, 985-994.
  • 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, 211-216.
  • Apergis, N. & Payne, J. E. (2010a). Renewable Energy Consumption and Economic Growth: Evidence from A Panel of OECD Countries. Energy Policy, 38(1), 656–660.
  • Apergis, N. & Payne, J. E. (2010b). Renewable Energy Consumption and Growth in Eurasia. Energy Economics, 32(6), 1392-1397.
  • Aqeel, A. & Butt, M. S. (2001). The Relationship between Energy Consumption and Economic Growth in Pakistan. Asia Pacific Development Journal, 8(2), 101-110.
  • Belloumi, M. (2009). Energy Consumption and GDP in Tunisia: Co-integration and Causality Analysis. Energy Policy, 37(7), 2745-2753.
  • Berndt, E. R. & Wood, D. O. (1975). Technology, prices, and the derived demand for energy. The Review of Economics and Statistics, 57(3), 259-268.
  • Bowden, N. & Payne, J.E. (2009). The Causal relationship between US energy consumption and real output: a disaggregated analysis. Journal of Policy Modeling, 31(2), 180-188.
  • BP Energy Outlook, 2015. http://www.bp.com/content/dam/bp/pdf/energy-economics/energy-outlook-2015/bp-energy-outlook-2035-booklet.pdf. [Son Erişim Tarihi 15 Kasım 2018].
  • Cheng, B. S. (1999). Causality Between Energy Consumption and Economic Growth in India: An Application of Co-integration and Error Correction Modeling. Indian Economic Review, 34(1), 39-49.
  • Cheng, B.S. & Lai, T.W. (1997). An Investigation of Co-integration and Causality between Energy Consumption and Economic Activity in Taiwan. Energy Economic, 19(4), 435-444.
  • Enders, W. (1995). Applied Econometric Time Series, John Wiley and Sons, Inc., New York.
  • Erdal, G., Erdal, H. & Esengün, K. (2008). The Causality between Energy Consumption and Economic Growth in Turkey. Energy Policy, 36 (10): 3838-3842.
  • Erdoğan, S. & Gürbüz, S. (2014). Türkiye’de Enerji Tüketimi ve Ekonomik Büyüme İlişkisi: Yapısal Kırılmalı Zaman Serisi Analizi. Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 32, 79-87.
  • Erol, U. & Yu, E. S. H. (1987). On the Causal Relationship between Energy and Income for Industrialized Countries. Journal of Energy and Development, 13, 113-122.
  • Glasure, Y. U. (2002). Energy and national income in Korea: further evidence on the role of omitted variables. Energy Economics, 24, 355-365.
  • Güloğlu, B. (2008). Ekonometri Ders Notları, Pamukkale Üniversitesi Yaz Seminerleri, Denizli.
  • Halıcıoğlu, F. (2009). An econometric study of CO2 emissions, energy consumption, income and foreign trade in Turkey. Energy Policy, 37, 1156–64.
  • Ho, C-Y & Siu, K.W. (2007). A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An empirical investigation. Energy Policy, 35(4), 2507-2513.
  • Hwang, D. & Gum, B. (1991). The causal relationship between energy and GNP: the case of Taiwan. Journal of Energy and Development, 16, 219–26.
  • Hwang, J-H. & Yoo, S-H. (2014). Energy Consumption, Emissions and Economic Growth: Evidence from Indonesia. Quality and Quantity, 48, 63-73.
  • Jobert, T. & Karanfil, F. (2007). Sectoral Energy Consumption by Source and Economic Growth in Turkey, Energy Policy, 35, 5447-56.
  • Kaplan, M., Öztürk, İ. & Kalyoncu, H. (2011). Energy Consumption and Economic Growth in Turkey: Cointegration and Causality Analysis. Romanian Journal of Economic Forecasting, 2: 31-41.
  • Karagöl, E. T. & Kavaz, İ. (2017). Dünyada ve Türkiye’de Yenilenebilir Enerji. SETA Vakfı Yay., https://setav.org/assets/uploads/2017/04/YenilenebilirEnerji.pdf (Son Erişim Tarihi: 20. 05. 2018)
  • Karanfil, F. (2009). How many times again will we examine the energy–income nexus using a limited range of traditional econometric tools? Energy Policy, 36, 1191–4.
  • Kraft, J. & Kraft, A. (1978). On the Relationship Between Energy and GNP. Journal of Energy Development, 3, 401-403.
  • Lise, W. & Montfort, K. van (2005). Energy Consumption and GDP in Turkey: Is There a Cointegration Relationship? International Conference on Policy Modeling, June 29 – July2, Ist., Turkey. http://www.ecn.nl/docs/library/report/2005/rx05191.pdf.
  • Mucuk, M. & Uysal, D. (2009). Türkiye Ekonomisinde Enerji Tüketimi ve Ekonomik Büyüme. Maliye Dergisi, 105-115.
  • Narayan, P. K. & Smyth, R. (2008). Energy Consumption and Real GDP in G7 Countries: New Evidence from Panel Cointegration with Structural Breaks. Energy Economics, 30 (5), 2331-2341.
  • Narayan, S. & Narayan, P.K. (2004). Determinants of Demand of Fiji’s Exports: An Empirical Investigation. The Developing Economics, 17(1): 95-112.
  • Omri, A. (2013). CO2 Emissions, Energy Consumption and Economic Growth Nexus in MENA Countries: Evidence from Simultaneous Equations Models. Energy Economics, 40, 657-664.
  • Omri, A. (2014). An International Literature Survey on Energy-Economic Growth nexus: Evidence from Country-specific Studies. Renewable and Sustainable Energy Reviews, 38, 951-959.
  • Öztürk, İ. (2010). A Literature Survey on Energy-Growth nexus. Energy Policy, 38, 340-349.
  • Öztürk, İ. & Uddin, G. S. (2012). Causality Among Carbon Emissions, Energy Consumption and Growth In India. Economic Research, 25(3), 752-775.
  • Öztürk, İ., Kaplan, M. & Kalyoncu, H. (2013). The Causal Relationship Between Energy Consumption and GDP in Turkey. Energy and Enviroment, 24 (5): 727-734.
  • Paul, S. & Bhattacharya, R. N. (2004). Causality between energy consumption and economic growth in India: a note on conflicting results. Energy Economics, 26(6), 977-983.
  • Payne, J. E. (2010a). Survey of the Electricity Consuption-Growth Literature. Applied Energy, 87(3), 723-731.
  • Payne, J. E. (2010b). Survey of the International Evidence on the Causal Relatinship Between Energy Consuption and Growth. Journal of Economic Studies, 37(1), 53-95.
  • Perron, P. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica, 57, 1361-1401.
  • Pesaran, M. H. & Shin, Y. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. in Strom, S. (ed.) Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium. England: Cambridge University Press.
  • Pesaran, M. Hashem, Shin, Y. & Smith, R. J. (2001). Bounds Testing Approaches to The Analysis of Level Relationships. Journal of Applied Econometrics. 16(3): 289-326.
  • Samuel, Y. A., Manu, O. & Wereko, T. B. (2013). Determinants of Energy Consumption: A Review. International Journal of Management Sciences, 1(12), 482-487.
  • Schwert, G. W. (1989). Tests for Unit Roots: A Monte Carlo Investigation. Journal of Business and Economic Statistics, 7, 147-160.
  • Shin Y, Yu B, Greenwood-Nimmo M (2011) Modelling Asymmetric Cointegration and Dynamic Multiplier in a Nonlinear ARDL Framework, available at http://ssrn.com/abstract=1807745.
  • Sıca, E. & Şentürk, M. (2016). Economic Growth and Energy Consumption in Turkey and Italy: A Frequency Domain Causality Analysis. Ömer Halisdemir Üniversitesi İİBF Dergisi, 9(4): 107-119.
  • Soytaş, U., Sari, R. & Özdemir, O. (2001). Energy Consumption and GDP Relations in Turkey: A Cointegration and Vector Error Correction Analysis. Economies and Business in Transition: Facilitating Competitiveness and Change in the Global Enviroment Proceedings, pp. 838-844.
  • Stern, D. I. (2000). A multivariate cointegration analysis of the role of energy in the US macroeconomy. Energy Economics, 22(2), 267-283.
  • Topçu, M. & Tel, İ. (2018). Enerji-GSYH İlişkisine Yeni Bir Bakış: Türkiye ve G7 Ülkelerinde Gelir ve Sürdürülebilir Refah Yaklaşımlarının Karşılaştırılması. Ekonomi, Politika ve Finans Araştırmaları Dergisi, 3(3): 208-225.
  • Yu, E.S.H & Jin, J. C. (1984). Co-integration tests of energy consumption, income, and employment. Resources and Energy, 14, 259-266.
  • Yu, E.S.H. & Hwang, B.K. (1984). The Relationship between Energy and GNP: Further Results. Energy Economics, 6, 186-190.
  • Zamani, M. (2007). Energy Consumtion and Economic Activities in Iran. Energy Economics, 29(6), 1135-1140.
  • Zhang, X-P. & Cheng, X-M. (2009). Energy Consumption, Carbon Emissions, and Economic Growth in China. Ecological Economics, 68(10), 2706-2712.
  • Zivot, E. & Andrews, K.. (1992). Further Evidence on the Great Crash, the Oil Price Shock, and the Unit Root Hypothesis, Journal of Business and Economic Statistics, 10(10):251-70.
There are 54 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Articles
Authors

Şükrü Apaydın 0000-0003-4640-8135

Afşin Güngör 0000-0002-4245-7741

Celal Taşdoğan This is me 0000-0002-8626-8862

Publication Date April 29, 2019
Submission Date December 29, 2018
Published in Issue Year 2019 Volume: 6 Issue: 1

Cite

APA Apaydın, Ş., Güngör, A., & Taşdoğan, C. (2019). TÜRKİYE’DE YENİLENEBİLİR ENERJİ TÜKETİMİNİN EKONOMİK BÜYÜME ÜZERİNDEKİ ASİMETRİK ETKİLERİ. Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty, 6(1), 117-134. https://doi.org/10.30798/makuiibf.505104

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