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THE RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH: THE CASE OF LOW AND MIDDLE INCOME COUNTRIES

Year 2018, Volume: 36 Issue: 1, 1 - 15, 30.03.2018

Mücahit Aydın

https://doi.org/10.17065/huniibf.411122
Cited By: 8

Abstract

In
this study, the relationship between energy consumption and economic growth for
low and middle income groups has been examined for the period 1971-2013. For
this purpose, the relationship between the variables is examined using Kónya panel causality test. Empirical results indicate that the hypothesis of
neutrality is mostly valid for the countries included in the low and middle
income groups. Moreover, the feedback hypothesis is valid only for Kenya. As a
result, it can be said that the direction of the causality relationship between
energy consumption and economic growth with country and time dimension.

References

  • Al-Iriani, M.A. (2006), “Energy-GDP Relationship Revisited: an Example from GCC Countries using Panel Causality”, Energy Policy, 34 (17), 3342–3350.
  • Apergis, N., J.E. Payne (2009), “Energy Consumption and Economic Growth in Central America: Evidence from a Panel Cointegration and Error Correction Model”, Energy Economics, 31, 211–216.
  • Asafu-Adjaye, J. (2000), “The Relationship Between Energy Consumption, Energy Prices and Economic Growth: Time Series Evidence from Asian Developing Countries”, Energy Economics, 22, 615–625.
  • Aydın, M. (2016), “Asimetrik Panel Nedensellik Testi: Gelişmekte Olan Ülkelerin Borsaları Üzerine Bir Uygulama”, Sakarya Üniversitesi Sosyal Bilimler Enstitüsü, Yayımlanmamış Yüksek Lisans Tezi.
  • Belke, A., F. Dobnik, C. Dreger (2011), “Energy Consumption and Economic Growth: New Insights into the Cointegration Relationship”, Energy Econ., 30, 782–789.
  • Coers, R., M. Sanders (2013), “The Energy-GDP Nexus; Addressing an Old Question with New Methods”, Energy Econ., 36, 708–715.
  • Costantini, V., C. Martini (2010), “The Causality Between energy Consumption and Economic Growth: A Multi-Sectoral Analysis Using Non-Stationary Cointegrated Panel Data”, Energy Econ. 32(3), 591–603.
  • Doğan, E. (2014), “Energy Consumption and Economic Growth: Evidence from Low-Income Countries in Sub-Saharan Africa”, International Journal of Energy Economics and Policy, 4(2), 154.
  • Esseghir, A., L.H. Khouni (2014), “Economic Growth, Energy Consumption and Sustainable Development: The Case of the Union for the Mediterranean Countries”, Energy, 71, 214–225.
  • Fuinhas, J.A., A.C. Marques (2012), “Energy Consumption and Economic Growth Nexus in Portugal, Italy, Greece, Spain, and Turkey: an ARDL bounds test approach (1965–2009)”, Energy Econ., 34, 511–517.
  • Huang, B., M. Hwang, C. Yang (2008), “Causal relationship between energy consumption and GDP growth Revisited: A Dynamic Panel Data Approach”, Ecol. Econ., 67, 41–54.
  • Kahsai, M.S., C. Nondo, P.V. Schaeffer, T.G. Gebremedhin (2012), “Income Level and the Energy Consumption-GDP Nexus: Evidence from Sub-Saharan Africa”, Energy Econ. 34(3), 739–746.
  • Kasman, A., Y.S. Duman (2015), “CO2 Emissions, Economic Growth, Energy Consumption, Trade and Urbanization in New EU Member and Candidate Countries: A Panel Data Analysis”, Econ. Model., 44, 97–103.
  • Kónya, L. (2006), “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”, Economic Modelling, (23), 978-992.
  • Lee, C.C., C.P. Chang (2007), “Energy Consumption and GDP Revisited: A Panel Analysis of Developed and Developing Countries”, Energy Economics, 29, 1206–1223.
  • Lee, C.C. (2005), “Energy Consumption and GDP in Developing Countries: A Cointegrated Panel Analysis”, Energy Econ., 27(3), 415–427.
  • Lucas, R.E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 3-32.
  • Mahadevan, R., J. Asafu-adjaye (2007), “Energy Consumption, Economic Growth and Prices: A Reassessment Using Panel VECM for Developed and Developing Countries”, Energy Policy, 35, 2481–2490.
  • Masih, A., R. Masih (1996), “Energy Consumption and Real Income Temporal Causality, Results for a Multi-Country Study Based on Cointegration and Error-Correction Techniques”, Energy Economics, 18, 165–183.
  • Mehrara, M. (2007) “Energy Consumption and Economic Growth: The Case of oil Exporting Countries”, Energy Policy, 35(5), 2939-2945.
  • Menegaki, A.N., I. Ozturk (2013), “Growth and Energy Nexus in Europe Revisited: Evidence from a Fixed Effect Political Economy Model”, Energy Policy, 61, 881–887.
  • Narayan, P.K., R. Smyth (2008), “Energy Consumption and Real GDP in G7 Countries: New Evidence from Panel Cointegration with Structural Breaks” Energy Economics, 30, 2331–2341.
  • Narayan, P.K., S. Popp (2012), “The Energy Consumption-Real GDP nexus Revisited: Empirical Evidence from 93 Countries”, Econ. Model., 29(2), 303–308.
  • Narayan, P.K., S. Narayan, S. Popp (2010), “A Note on the Long-Run Elasticities from the Energy Consumption–GDP Relationship”, Appl. Energy, 87(3), 1054–1057.
  • Narayan, S. (2016), “Predictability within the Energy Consumption-Economic Growth Nexus: Some Evidence from Income and Regional Groups”, Economic Modelling, 54, 515-521.
  • Ouedraogo, N.S. (2013), “Energy Consumption and Economic Growth: Evidence from the Economic Community of West African States (ECOWAS)”, Energy Economics, 36, 637-647.
  • Ozturk, I., A. Aslan, H. Kalyoncu (2010), “Energy Consumption and Economic Growth Relationship: Evidence from Panel data for Low and Middle Income Countries”, Energy Policy, 38(8), 4422-4428.
  • Rezitis, A.N., S.M. Ahammad (2015), “The Relationship Between Energy Consumption and Economic Growth in South and Southeast Asian Countries: A Panel VAR Approach and Causality Analysis”, International Journal of Energy Economics and Policy (Forthcoming).
  • Romer, P.M. (1986), “Increasing Returns and Long-Run Growth” Journal of Political Economy, 94, 1002-1037.
  • Squalli, J. (2007), “Electricity Consumption and Economic growth: Bounds and Causality Analyses of OPEC Countries”, Energy Economics, 29, 1192–1205.
  • Śmiech, S., Papież, M. (2014), “Energy Consumption and Economic Growth in the Light of Meeting the Targets of Energy Policy in the EU: the Bootstrap Panel Granger Causality Approach”, Energy Policy, 71, 118–129.
  • Streimikiene D., R. Kasperowicz (2016), Renewable and Sustainable Energy Reviews, 59(C), 1545-1549.
  • Wolde-Rufael, Y. (2005), “Energy Demand and Economic Growth: the African Experience”, Journal of Policy Modeling, 27(8), 891–903.
  • Wolde-Rufael, Y. (2009), “Energy Consumption and Economic Growth: The Experience of African Countries Revisited”, Energy Econ, 31, 217–224.
  • Zellner, A. (1962), “An Efficient Method of Estimating Seemingly Unrelated Regressions and Tests for Aggregation Bias”, Journal of the American Statistical Association, 57(298), 348 – 368.

ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ

Year 2018, Volume: 36 Issue: 1, 1 - 15, 30.03.2018

Mücahit Aydın

https://doi.org/10.17065/huniibf.411122
Cited By: 8

Abstract

Bu
çalışmada enerji tüketimi ve ekonomik büyüme arasındaki ilişki düşük ve orta
gelir grubu ülkeler için 1971-2013 dönemi verileri kullanılarak incelenmiştir.
Bu amaçla değişkenler arasındaki ilişki Kónya panel nedensellik testi
kullanılarak incelenmiştir. Ampirik sonuçlara göre düşük ve orta gelir grubuna
dâhil ülkelerde çoğunlukla tarafsızlık hipotezinin geçerli olduğu
görülmektedir. Geribildirim hipotezinin ise yalnızca Kenya için geçerli olduğu
çalışmadan elde edilen bir başka sonuçtur. 
Sonuç olarak ekonomik büyüme ile enerji tüketimi arasındaki nedensellik
ilişkisinin yönü için zaman ve ülke boyutuna göre farklılaşmalar olduğunu
söylemek mümkündür. 

Keywords

Ekonomik büyüme enerji tüketimi panel nedensellik testi

References

  • Al-Iriani, M.A. (2006), “Energy-GDP Relationship Revisited: an Example from GCC Countries using Panel Causality”, Energy Policy, 34 (17), 3342–3350.
  • Apergis, N., J.E. Payne (2009), “Energy Consumption and Economic Growth in Central America: Evidence from a Panel Cointegration and Error Correction Model”, Energy Economics, 31, 211–216.
  • Asafu-Adjaye, J. (2000), “The Relationship Between Energy Consumption, Energy Prices and Economic Growth: Time Series Evidence from Asian Developing Countries”, Energy Economics, 22, 615–625.
  • Aydın, M. (2016), “Asimetrik Panel Nedensellik Testi: Gelişmekte Olan Ülkelerin Borsaları Üzerine Bir Uygulama”, Sakarya Üniversitesi Sosyal Bilimler Enstitüsü, Yayımlanmamış Yüksek Lisans Tezi.
  • Belke, A., F. Dobnik, C. Dreger (2011), “Energy Consumption and Economic Growth: New Insights into the Cointegration Relationship”, Energy Econ., 30, 782–789.
  • Coers, R., M. Sanders (2013), “The Energy-GDP Nexus; Addressing an Old Question with New Methods”, Energy Econ., 36, 708–715.
  • Costantini, V., C. Martini (2010), “The Causality Between energy Consumption and Economic Growth: A Multi-Sectoral Analysis Using Non-Stationary Cointegrated Panel Data”, Energy Econ. 32(3), 591–603.
  • Doğan, E. (2014), “Energy Consumption and Economic Growth: Evidence from Low-Income Countries in Sub-Saharan Africa”, International Journal of Energy Economics and Policy, 4(2), 154.
  • Esseghir, A., L.H. Khouni (2014), “Economic Growth, Energy Consumption and Sustainable Development: The Case of the Union for the Mediterranean Countries”, Energy, 71, 214–225.
  • Fuinhas, J.A., A.C. Marques (2012), “Energy Consumption and Economic Growth Nexus in Portugal, Italy, Greece, Spain, and Turkey: an ARDL bounds test approach (1965–2009)”, Energy Econ., 34, 511–517.
  • Huang, B., M. Hwang, C. Yang (2008), “Causal relationship between energy consumption and GDP growth Revisited: A Dynamic Panel Data Approach”, Ecol. Econ., 67, 41–54.
  • Kahsai, M.S., C. Nondo, P.V. Schaeffer, T.G. Gebremedhin (2012), “Income Level and the Energy Consumption-GDP Nexus: Evidence from Sub-Saharan Africa”, Energy Econ. 34(3), 739–746.
  • Kasman, A., Y.S. Duman (2015), “CO2 Emissions, Economic Growth, Energy Consumption, Trade and Urbanization in New EU Member and Candidate Countries: A Panel Data Analysis”, Econ. Model., 44, 97–103.
  • Kónya, L. (2006), “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”, Economic Modelling, (23), 978-992.
  • Lee, C.C., C.P. Chang (2007), “Energy Consumption and GDP Revisited: A Panel Analysis of Developed and Developing Countries”, Energy Economics, 29, 1206–1223.
  • Lee, C.C. (2005), “Energy Consumption and GDP in Developing Countries: A Cointegrated Panel Analysis”, Energy Econ., 27(3), 415–427.
  • Lucas, R.E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 3-32.
  • Mahadevan, R., J. Asafu-adjaye (2007), “Energy Consumption, Economic Growth and Prices: A Reassessment Using Panel VECM for Developed and Developing Countries”, Energy Policy, 35, 2481–2490.
  • Masih, A., R. Masih (1996), “Energy Consumption and Real Income Temporal Causality, Results for a Multi-Country Study Based on Cointegration and Error-Correction Techniques”, Energy Economics, 18, 165–183.
  • Mehrara, M. (2007) “Energy Consumption and Economic Growth: The Case of oil Exporting Countries”, Energy Policy, 35(5), 2939-2945.
  • Menegaki, A.N., I. Ozturk (2013), “Growth and Energy Nexus in Europe Revisited: Evidence from a Fixed Effect Political Economy Model”, Energy Policy, 61, 881–887.
  • Narayan, P.K., R. Smyth (2008), “Energy Consumption and Real GDP in G7 Countries: New Evidence from Panel Cointegration with Structural Breaks” Energy Economics, 30, 2331–2341.
  • Narayan, P.K., S. Popp (2012), “The Energy Consumption-Real GDP nexus Revisited: Empirical Evidence from 93 Countries”, Econ. Model., 29(2), 303–308.
  • Narayan, P.K., S. Narayan, S. Popp (2010), “A Note on the Long-Run Elasticities from the Energy Consumption–GDP Relationship”, Appl. Energy, 87(3), 1054–1057.
  • Narayan, S. (2016), “Predictability within the Energy Consumption-Economic Growth Nexus: Some Evidence from Income and Regional Groups”, Economic Modelling, 54, 515-521.
  • Ouedraogo, N.S. (2013), “Energy Consumption and Economic Growth: Evidence from the Economic Community of West African States (ECOWAS)”, Energy Economics, 36, 637-647.
  • Ozturk, I., A. Aslan, H. Kalyoncu (2010), “Energy Consumption and Economic Growth Relationship: Evidence from Panel data for Low and Middle Income Countries”, Energy Policy, 38(8), 4422-4428.
  • Rezitis, A.N., S.M. Ahammad (2015), “The Relationship Between Energy Consumption and Economic Growth in South and Southeast Asian Countries: A Panel VAR Approach and Causality Analysis”, International Journal of Energy Economics and Policy (Forthcoming).
  • Romer, P.M. (1986), “Increasing Returns and Long-Run Growth” Journal of Political Economy, 94, 1002-1037.
  • Squalli, J. (2007), “Electricity Consumption and Economic growth: Bounds and Causality Analyses of OPEC Countries”, Energy Economics, 29, 1192–1205.
  • Śmiech, S., Papież, M. (2014), “Energy Consumption and Economic Growth in the Light of Meeting the Targets of Energy Policy in the EU: the Bootstrap Panel Granger Causality Approach”, Energy Policy, 71, 118–129.
  • Streimikiene D., R. Kasperowicz (2016), Renewable and Sustainable Energy Reviews, 59(C), 1545-1549.
  • Wolde-Rufael, Y. (2005), “Energy Demand and Economic Growth: the African Experience”, Journal of Policy Modeling, 27(8), 891–903.
  • Wolde-Rufael, Y. (2009), “Energy Consumption and Economic Growth: The Experience of African Countries Revisited”, Energy Econ, 31, 217–224.
  • Zellner, A. (1962), “An Efficient Method of Estimating Seemingly Unrelated Regressions and Tests for Aggregation Bias”, Journal of the American Statistical Association, 57(298), 348 – 368.
There are 35 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Mücahit Aydın

Publication Date March 30, 2018
Submission Date February 3, 2017
Published in Issue Year 2018 Volume: 36 Issue: 1

Cite

APA Aydın, M. (2018). ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 36(1), 1-15. https://doi.org/10.17065/huniibf.411122
AMA Aydın M. ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. March 2018;36(1):1-15. doi:10.17065/huniibf.411122
Chicago Aydın, Mücahit. “ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 36, no. 1 (March 2018): 1-15. https://doi.org/10.17065/huniibf.411122.
EndNote Aydın M (March 1, 2018) ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 36 1 1–15.
IEEE M. Aydın, “ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, vol. 36, no. 1, pp. 1–15, 2018, doi: 10.17065/huniibf.411122.
ISNAD Aydın, Mücahit. “ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ”. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 36/1 (March 2018), 1-15. https://doi.org/10.17065/huniibf.411122.
JAMA Aydın M. ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2018;36:1–15.
MLA Aydın, Mücahit. “ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, vol. 36, no. 1, 2018, pp. 1-15, doi:10.17065/huniibf.411122.
Vancouver Aydın M. ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: DÜŞÜK VE ORTA GELİRLİ ÜLKELER ÖRNEĞİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2018;36(1):1-15.

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