Kosova'da Enerji Tüketimi, Ekonomik Büyüme ve Doğrudan Yabancı Yatırımlar Arasındaki Dinamik İlişki: ARDL Sınır Testi Yaklaşımı
Yıl 2025,
Sayı: Özel Sayı 3, 225 - 241, 31.12.2025
Davut Kazaz
,
Ahmet Atakişi
,
Meltem Okur Dinçsoy
Öz
Sürdürülebilir kalkınma hedefi günümüzde ülkelerin temel odak noktasını oluşturmaktadır. Bu bağlamda enerji konusu hem ekonomik büyüme hem de çevre kirliliğini azaltma bakımından kritik bir rol oynamaktadır. Bu çalışma Kosova’da ekonomik büyüme ve doğrudan yabancı yatırımların enerji harcamasına olan etkisini 2010:Q1–2021:Q4 dönemi için incelemektedir. Çalışmada Otoregresif Gecikmesi Dağıtılmış (ARDL) sınır testi uygulanarak ele alınan değişkenler arasındaki kısa ve uzun dönemli ilişkileri analiz edilmesi amaçlanmaktadır. Sınır testi sonuçları, değişkenlerin uzun dönemli bir eşbütünleşme ilişkisinin olduğunu güçlü bir şekilde ortaya koymuştur. Uzun dönem tahmin sonuçlarına göre, ekonomik büyümenin enerji tüketimi üzerinde istatistiksel olarak anlamlı ve pozitif bir etkisi olduğu tespit edilmiştir. Buna karşın, doğrudan yabancı yatırımların enerji tüketimi üzerinde anlamlı bir etki tespit edilememiştir. DYY’nin etkisizliği, yatırımların enerji yoğun sektörlerden ziyade hizmet veya düşük enerji kullanılan alanlarda yoğunlaştığı şeklinde ifade edilebilir.
Etik Beyan
Yazar(lar), bu çalışmada bilimsel ve etik ilkelere uyulduğunu ve kullanılan tüm kaynakların düzgün bir şekilde alıntılandığını beyan eder.
Destekleyen Kurum
Yazar(lar), bu çalışmaya herhangi bir mali destek veya finansman sağlanmadığını beyan eder.
Kaynakça
-
Almfraji, M. A., & Almsafir, M. K. (2014). Foreign direct investment and economic growth: Literature review from 1994 to 2012. Procedia - Social and Behavioral Sciences, 129, 206-213. https://doi.org/10.1016/j.sbspro.2014.03.668
-
Amaxhekaj, G., Qehaja, D., & Gara, A. (2024). The role of institutions in energy transition and economic growth in West Balkan countries. Journal Name, 3, 18-45. https://www.ceeol.com/search/article-detail?id=1231072
-
Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth: Evidence from the Commonwealth of Independent States. Energy Economics, 31(5), 641-647. https://ideas.repec.org/a/eee/eneeco/v31y2009i5p641-647.html
-
Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135. https://doi.org/10.1016/S0022-1996(97)00033-0
-
Brown, R. L., Durbin, J., & Evans, J. M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society: Series B (Methodological), 37(2), 149-163. https://www.jstor.org/stable/2984889
-
Cole, M. A. (2004). Trade, the pollution haven hypothesis and the environmental Kuznets curve: Examining the linkages. Ecological Economics, 48(1), 71-81. https://doi.org/10.1016/j.ecolecon.2003.09.007
-
De Mello, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. The Journal of Development Studies, 34(1), 1-34. https://doi.org/10.1080/00220389708422501
-
De Mello, L. R. (1999). Foreign direct investment-led growth: Evidence from time series and panel data. Oxford Economic Papers, 51(1), 133-151. https://doi.org/10.1093/oep/51.1.133
-
Doytch, N., & Narayan, S. (2016). Does FDI influence renewable energy consumption? An analysis of sectoral FDI impact on renewable and non-renewable industrial energy consumption. Energy Economics, 54, 291-301. https://doi.org/10.1016/j.eneco.2015.12.010
-
Dünya Bankası. (2019). Kosovo country economic memorandum: Laying the foundations for sustainable growth. The World Bank Group. https://documents1.worldbank.org/curated/en/615511640189474271/pdf/Main-Report.pdf
-
Elliott, G., Rothenberg, T. J., & Stock, J. H. (1996). Efficient tests for an autoregressive unit root. Econometrica, 64(4), 813–836. https://www.jstor.org/stable/2171846
-
Engle, R. F., & Granger, C. W. J. (1987). Co-integration and error correction: Representation, estimation, and testing. Econometrica, 55(2), 251–276. https://www.jstor.org/stable/1913236
-
Geci, F. (2021). Foreign direct investments in Kosovo. SHS Web of Conferences, 114, 01016. https://doi.org/10.1051/shsconf/202111401016
-
Granger, C. W. J., & Newbold, P. (1974). Spurious regressions in econometrics. Journal of Econometrics, 2(2), 111–120. https://doi.org/10.1016/0304-4076(74)90034-7
-
Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). McGraw-Hill Education. https://ucanapplym.s3.ap-south-1.amazonaws.com/RGU/notifications/E_learning/0nline_study/Basic-Econometrics-5th-Ed-Gujarati-and-P.pdf
-
Kraft, J., & Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3(2), 401–403. https://www.jstor.org/stable/24806805
-
Haliti Rudhani, L., Pira, B., Hasanaj, P., & Rudhani, T. (2025). Remittances and the effects of FDI on economic growth and macroeconomic stability with a focus on developing countries. Edelweiss Applied Science and Technology, 9(4), 3135-3145. https://doi.org/10.55214/25768484.v9i4.6744
-
IFME. (2019). Institute for Free Market Economy: Investment climate in Kosovo. Prishtina. https://ietl-oek.com/wp-content/uploads/2020/09/19-12-24-Foreign-Direct-Investment-in-Kosovo-The-InvestmentClimate-Potential-and-Barriers-ENG.pdf
-
Islami, X. A., Mulolli, E., Mulolli, E., & Skenderi, N. (2016). Relationship in between FDI inflow and economic growth in Kosovo. European Journal of Economics and Business Studies, 4(1). Available at SSRN: https://ssrn.com/abstract=2813386
-
Kida, N. M. (2017). The impact of FDI on the structure of the Kosovo economy. European Journal of Economics and Business Studies, 8(1), 80–86.
-
Kida, N., Smajli, R., Gjuraj, D., Morina, V., ve Morina, J. (2025). Driving factors of foreign direct investment in Kosovo: The roles of market access and government support. International Journal of Sustainable Development and Planning, 20(1), 433–451. Advance online publication. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5557718
-
Koçak, E., & Şarkgüneşi, A. (2017). The renewable energy and economic growth nexus in Black Sea and Balkan countries. Energy Policy, 100, 51-57. https://doi.org/10.1016/j.enpol.2016.10.007
-
MacKinnon, J. G. (1996). Numerical distribution functions for unit root and cointegration tests. Journal of Applied Econometrics, 11(6), 601–618. https://doi.org/10.1002/(SICI)1099-1255(199611)11:6%3C601::AID-JAE417%3E3.0.CO 2-T
-
Mitić, P., Fedajev, A., Radulescu, M., & Rehman, A. (2023). The relationship between CO2 emissions, economic growth, available energy, and employment in SEE countries. Environmental Science and Pollution Research, 30, 16140–16155. https://doi.org/10.1007/s11356-022-23356-3
-
Naimoğlu, M., & Özel, B. (2022). Enerji kaynaklarının enerji yoğunluğu üzerindeki etkileri: Enerji ithalatçısı yükselen ekonomilerden kanıtlar. Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (47), 1-15.
-
Obradović, S., Gričar, S., Bojnec, Š., & Lojanica, N. (2025). Energy, urbanisation, and carbon footprint: Evidence from Western Balkan countries. Urban Science, 9(4), 119. https://doi.org/10.3390/urbansci9040119
-
Omri, A. (2015). An international literature survey on energy-economic growth nexus: Evidence from country-specific studies. Renewable and Sustainable Energy Reviews, 38, 951–959. https://doi.org/10.1016/j.rser.2014.07.084
-
Ozturk, I. (2010). A literature survey on energy–growth nexus. Energy Policy, 38(1), 340–349. https://doi.org/10.1016/j.enpol.2009.09.024
-
Pejović, B. (2021). Energy consumption, economic growth and CO2 emissions in the Western Balkans and the EU. Economic Annals, 66(229), 7–36. https://ui.adsabs.harvard.edu/abs/2021EnRep...7.2775P/abstract
-
Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57(6), 1361–1401. https://www.jstor.org/stable/1913712
-
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
-
Qabrati, I. (2021). The effect of foreign direct investment on economic growth in Kosovo. European Journal of Economic and Financial Research, 5(1), 106–117. https://doi.org/10.46827/ejefr.v5i1.1091
-
Riinvest Institute. (2014). Business Climate in Kosovo: A Cross-Regional Perspective. Prishtina: Riinvest Institute for Development Research.
-
Shahini, D. (2025). The determinants of energy consumption: The case of the Western Balkans (Master’s thesis). Epoka University. http://dspace.epoka.edu.al/handle/1/2657
-
Shkodra, N., Sopi, X., & Badivuku-Pantina, M. (2019). The effect of foreign direct investment in transition countries: Case of Kosovo. Advances in Business-Related Scientific Research Journal, 10(1).
-
Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 65–94. https://doi.org/10.2307/1884513
-
Stern, D. I. (2011). The role of energy in economic growth. Annals of the New York Academy of Sciences, 1219(1), 26–51. https://doi.org/10.1111/j.1749-6632.2010.05921.x
-
Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1-2), 225–250. https://doi.org/10.1016/0304-4076(94)01616-8
-
Waheed, R., Sarwar, S., & Wei, C. (2019). The survey of economic growth, energy consumption and carbon emission. Energy Reports, 5, 1103–1115. https://www.econstor.eu/handle/10419/243655
-
World Bank. (2021). Kosovo country economic memorandum: Boosting foreign direct investment. World Bank. https://openknowledge.worldbank.org/server/api/core/bitstreams/0811785f-b1a9-546d-9183-0b6133680f30/content
-
Zivot, E., & Andrews, D. W. K. (1992). Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis. Journal of Business & Economic Statistics, 10(3), 251–270. https://www.jstor.org/stable/1391541
The Dynamic Relationship Between Energy Consumption, Economic Growth, and Foreign Direct Investments in Kosovo: An ARDL Bound Testing Approach
Yıl 2025,
Sayı: Özel Sayı 3, 225 - 241, 31.12.2025
Davut Kazaz
,
Ahmet Atakişi
,
Meltem Okur Dinçsoy
Öz
Sustainable development goals have become the central focus of countries in contemporary times. In this context, the relationship between economic growth and energy consumption plays a critical role. This study examines the impact of economic growth and foreign direct investments (FDI) on energy consumption in Kosovo over the period from Q1 2010 to Q4 2021. The study employs the Autoregressive Distributed Lag (ARDL) bound testing approach to analyze both the short- and long-term dynamic relationships among the variables under consideration. The results of the bound test strongly indicate the presence of a long-run cointegration relationship among the variables. According to the long-term estimation results, economic growth has a statistically significant and positive effect on energy consumption. The ineffectiveness of FDI can be attributed to the fact that these investments are concentrated in service sectors or areas with low energy consumption, rather than energy-intensive industries.
Kaynakça
-
Almfraji, M. A., & Almsafir, M. K. (2014). Foreign direct investment and economic growth: Literature review from 1994 to 2012. Procedia - Social and Behavioral Sciences, 129, 206-213. https://doi.org/10.1016/j.sbspro.2014.03.668
-
Amaxhekaj, G., Qehaja, D., & Gara, A. (2024). The role of institutions in energy transition and economic growth in West Balkan countries. Journal Name, 3, 18-45. https://www.ceeol.com/search/article-detail?id=1231072
-
Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth: Evidence from the Commonwealth of Independent States. Energy Economics, 31(5), 641-647. https://ideas.repec.org/a/eee/eneeco/v31y2009i5p641-647.html
-
Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135. https://doi.org/10.1016/S0022-1996(97)00033-0
-
Brown, R. L., Durbin, J., & Evans, J. M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society: Series B (Methodological), 37(2), 149-163. https://www.jstor.org/stable/2984889
-
Cole, M. A. (2004). Trade, the pollution haven hypothesis and the environmental Kuznets curve: Examining the linkages. Ecological Economics, 48(1), 71-81. https://doi.org/10.1016/j.ecolecon.2003.09.007
-
De Mello, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. The Journal of Development Studies, 34(1), 1-34. https://doi.org/10.1080/00220389708422501
-
De Mello, L. R. (1999). Foreign direct investment-led growth: Evidence from time series and panel data. Oxford Economic Papers, 51(1), 133-151. https://doi.org/10.1093/oep/51.1.133
-
Doytch, N., & Narayan, S. (2016). Does FDI influence renewable energy consumption? An analysis of sectoral FDI impact on renewable and non-renewable industrial energy consumption. Energy Economics, 54, 291-301. https://doi.org/10.1016/j.eneco.2015.12.010
-
Dünya Bankası. (2019). Kosovo country economic memorandum: Laying the foundations for sustainable growth. The World Bank Group. https://documents1.worldbank.org/curated/en/615511640189474271/pdf/Main-Report.pdf
-
Elliott, G., Rothenberg, T. J., & Stock, J. H. (1996). Efficient tests for an autoregressive unit root. Econometrica, 64(4), 813–836. https://www.jstor.org/stable/2171846
-
Engle, R. F., & Granger, C. W. J. (1987). Co-integration and error correction: Representation, estimation, and testing. Econometrica, 55(2), 251–276. https://www.jstor.org/stable/1913236
-
Geci, F. (2021). Foreign direct investments in Kosovo. SHS Web of Conferences, 114, 01016. https://doi.org/10.1051/shsconf/202111401016
-
Granger, C. W. J., & Newbold, P. (1974). Spurious regressions in econometrics. Journal of Econometrics, 2(2), 111–120. https://doi.org/10.1016/0304-4076(74)90034-7
-
Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). McGraw-Hill Education. https://ucanapplym.s3.ap-south-1.amazonaws.com/RGU/notifications/E_learning/0nline_study/Basic-Econometrics-5th-Ed-Gujarati-and-P.pdf
-
Kraft, J., & Kraft, A. (1978). On the relationship between energy and GNP. Journal of Energy and Development, 3(2), 401–403. https://www.jstor.org/stable/24806805
-
Haliti Rudhani, L., Pira, B., Hasanaj, P., & Rudhani, T. (2025). Remittances and the effects of FDI on economic growth and macroeconomic stability with a focus on developing countries. Edelweiss Applied Science and Technology, 9(4), 3135-3145. https://doi.org/10.55214/25768484.v9i4.6744
-
IFME. (2019). Institute for Free Market Economy: Investment climate in Kosovo. Prishtina. https://ietl-oek.com/wp-content/uploads/2020/09/19-12-24-Foreign-Direct-Investment-in-Kosovo-The-InvestmentClimate-Potential-and-Barriers-ENG.pdf
-
Islami, X. A., Mulolli, E., Mulolli, E., & Skenderi, N. (2016). Relationship in between FDI inflow and economic growth in Kosovo. European Journal of Economics and Business Studies, 4(1). Available at SSRN: https://ssrn.com/abstract=2813386
-
Kida, N. M. (2017). The impact of FDI on the structure of the Kosovo economy. European Journal of Economics and Business Studies, 8(1), 80–86.
-
Kida, N., Smajli, R., Gjuraj, D., Morina, V., ve Morina, J. (2025). Driving factors of foreign direct investment in Kosovo: The roles of market access and government support. International Journal of Sustainable Development and Planning, 20(1), 433–451. Advance online publication. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5557718
-
Koçak, E., & Şarkgüneşi, A. (2017). The renewable energy and economic growth nexus in Black Sea and Balkan countries. Energy Policy, 100, 51-57. https://doi.org/10.1016/j.enpol.2016.10.007
-
MacKinnon, J. G. (1996). Numerical distribution functions for unit root and cointegration tests. Journal of Applied Econometrics, 11(6), 601–618. https://doi.org/10.1002/(SICI)1099-1255(199611)11:6%3C601::AID-JAE417%3E3.0.CO 2-T
-
Mitić, P., Fedajev, A., Radulescu, M., & Rehman, A. (2023). The relationship between CO2 emissions, economic growth, available energy, and employment in SEE countries. Environmental Science and Pollution Research, 30, 16140–16155. https://doi.org/10.1007/s11356-022-23356-3
-
Naimoğlu, M., & Özel, B. (2022). Enerji kaynaklarının enerji yoğunluğu üzerindeki etkileri: Enerji ithalatçısı yükselen ekonomilerden kanıtlar. Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (47), 1-15.
-
Obradović, S., Gričar, S., Bojnec, Š., & Lojanica, N. (2025). Energy, urbanisation, and carbon footprint: Evidence from Western Balkan countries. Urban Science, 9(4), 119. https://doi.org/10.3390/urbansci9040119
-
Omri, A. (2015). An international literature survey on energy-economic growth nexus: Evidence from country-specific studies. Renewable and Sustainable Energy Reviews, 38, 951–959. https://doi.org/10.1016/j.rser.2014.07.084
-
Ozturk, I. (2010). A literature survey on energy–growth nexus. Energy Policy, 38(1), 340–349. https://doi.org/10.1016/j.enpol.2009.09.024
-
Pejović, B. (2021). Energy consumption, economic growth and CO2 emissions in the Western Balkans and the EU. Economic Annals, 66(229), 7–36. https://ui.adsabs.harvard.edu/abs/2021EnRep...7.2775P/abstract
-
Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57(6), 1361–1401. https://www.jstor.org/stable/1913712
-
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
-
Qabrati, I. (2021). The effect of foreign direct investment on economic growth in Kosovo. European Journal of Economic and Financial Research, 5(1), 106–117. https://doi.org/10.46827/ejefr.v5i1.1091
-
Riinvest Institute. (2014). Business Climate in Kosovo: A Cross-Regional Perspective. Prishtina: Riinvest Institute for Development Research.
-
Shahini, D. (2025). The determinants of energy consumption: The case of the Western Balkans (Master’s thesis). Epoka University. http://dspace.epoka.edu.al/handle/1/2657
-
Shkodra, N., Sopi, X., & Badivuku-Pantina, M. (2019). The effect of foreign direct investment in transition countries: Case of Kosovo. Advances in Business-Related Scientific Research Journal, 10(1).
-
Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 65–94. https://doi.org/10.2307/1884513
-
Stern, D. I. (2011). The role of energy in economic growth. Annals of the New York Academy of Sciences, 1219(1), 26–51. https://doi.org/10.1111/j.1749-6632.2010.05921.x
-
Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1-2), 225–250. https://doi.org/10.1016/0304-4076(94)01616-8
-
Waheed, R., Sarwar, S., & Wei, C. (2019). The survey of economic growth, energy consumption and carbon emission. Energy Reports, 5, 1103–1115. https://www.econstor.eu/handle/10419/243655
-
World Bank. (2021). Kosovo country economic memorandum: Boosting foreign direct investment. World Bank. https://openknowledge.worldbank.org/server/api/core/bitstreams/0811785f-b1a9-546d-9183-0b6133680f30/content
-
Zivot, E., & Andrews, D. W. K. (1992). Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis. Journal of Business & Economic Statistics, 10(3), 251–270. https://www.jstor.org/stable/1391541