SavedAdd your journal

Journals / Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 2018 / Cilt: 5 - Sayı: 2

THE ANALYSIS OF THE RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN SELECTED OECD COUNTRIES: EVIDENCES FROM COINTEGRATION TECHNIQUE WITH STRUCTURAL BREAK

SEÇİLMİŞ OECD ÜLKELERİNDE ENERJİ TÜKETİMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN ANALİZİ: YAPISAL KIRILMALI EŞBÜTÜNLEŞME TEKNİĞİNDEN KANITLAR

Güray Enes KARAAĞAÇ
Reşat CEYLAN
Pages
204–222
Publication Date
2018-06-30
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Our findings provide some evidences related to the growth hypothesis, energy conservation hypothesis, feedback hypothesis and neutrality hypothesis, which are developed to explain energy consumption-economic growth nexus in the literature.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The main purpose of the study is to examine the direction and the long run relationship between energy consumption and economic growth in selected OECD countries.
📊
Key Findings & Data:In this study, Gregory Hansen cointegration method with structural break is used to estimate the long run relationship and to determine the direction of this relationship.
💡
Conclusion & Impact:Our findings provide some evidences related to the growth hypothesis, energy conservation hypothesis, feedback hypothesis and neutrality hypothesis, which are developed to explain energy consumption-economic growth nexus in the literature.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Enerji-büyüme ilişkisi · Gregory-Hansen Eş bütünleşme testi · Hata Düzeltme Modeli(ECM)

Abstract

The main purpose of the study is to examine the direction and the long run relationship between energy consumption and economic growth in selected OECD countries. In this study, Gregory Hansen cointegration method with structural break is used to estimate the long run relationship and to determine the direction of this relationship. The study also uses Error Correction Model (ECM) and VAR-Granger causality tests. Our findings provide some evidences related to the growth hypothesis, energy conservation hypothesis, feedback hypothesis and neutrality hypothesis, which are developed to explain energy consumption-economic growth nexus in the literature.

Özet

Bu çalışmanın temel amacı, seçilmiş OECD ülkelerinde enerji tüketimi ile ekonomik büyüme arasındaki uzun dönemli ilişkiyi araştırmak ve bu ilişkinin yönünü belirlemektir. Çalışmada, değişkenler arasındaki uzun dönemli ilişkiyi ortaya koymak için yapısal kırılmalı Gregory-Hansen eşbütünleşme yöntemi, ilişkinin yönünü belirlemek için ise Hata Düzeltme Modeli (ECM) ve VAR-Granger nedensellik testleri kullanılmaktadır. Elde edilen bulgular, enerji tüketimi ile ekonomik büyüme arasındaki ilişkiyi açıklamaya yönelik olarak literatürde geliştirilen, büyüme hipotezi, enerji tasarrufu hipotezi, geri bildirim hipotezi ve etkisizlik hipotezi lehinde kanıtlar sunmaktadır.

🔖

Cite This Article

KARAAĞAÇ, G. E., CEYLAN, R. (2018). THE ANALYSIS OF THE RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN SELECTED OECD COUNTRIES: EVIDENCES FROM COINTEGRATION TECHNIQUE WITH STRUCTURAL BREAK. Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt: 5 - Sayı: 2, 204–222. https://ajindex.com/articles/98452

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (11)

  1. Alshehry, A. S., & Belloumi, M. (2015). Energy consumption, carbon dioxide emissions and economic growth: The case of Saudi Arabia. Renewable and Sustainable Energy Reviews, 41, 237–247.
  2. Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth: Evidence from the Commonwealth of Independent States. Energy Economics, 31(5), 641–647.
  3. Asafu-Adjaye, J., & 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.
  4. Azlina, A. A., & Mustapha, N. H. N. (2012).
  5. Energy, Economic Growth and Pollutant Emissions Nexus: The Case of Malaysia. Procedia - Social and Behavioral Sciences, 65(ICIBSoS), 1–7Cheng, B. S., & Lai, T. W. (1997). An investigation of co-integration and causality between energy consumption and economic activity in Taiwan. Energy Economics, 19(4), 435–444Csereklyei, Z., Mar, M. D., Varas, R., & Stern, D. I. (2016). Energy and Economic Growth: The Stylized Facts. The Energy Journal, 37(2), 223–255.
  6. Day, K. M., & Quentin Grafton, R. (2003). Growth and the environment in Canada: An empirical analysis. Canadian Journal of Agricultural Economics, 51(2), 197–216.
  7. Dinda, S. (2004). Environmental Kuznets Curve hypothesis: A survey. Ecological Economics, 49(4), 431–455. 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, 79-87Ghali, K. H., & El-Sakka M.I.T. (2004). Energy use and output growth in Canada: A multivariate cointegration analysis. Energy Economics, 26, 9883–9883.
  8. Ghosh, S. (2002). Electricity consumption and economic growth in India. Energy Policy, 30(2), 125–129.
  9. Gregory, A. W., & Hansen, B. E. (1996). Residual-based tests for cointegration with regime shifts in models. Journal of Econometrics, 70, 99–126.
  10. Hamilton, J. D. (1983). Oil and the Macroeconomy since World War II. Journal of Political Economy 91(2), 228-248
  11. Hansen B.E. (1992). Test for Parameter Instability in Regressions with I(1) processes. Journal of Business & Economic Statistics, 10(3), 321-335.Hansen B.E., & Gregory A.W. (1996). Tests for Cointegration in Models with Regime and Trend Shifts. Oxford Bulletin of Economics and Statistics, 58(3), 555-560Kasman, A., & Duman, Y. S. (2015). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: A pane