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Avrupa Birliği’nde Elektrik Tüketiminin Ekonomik Büyüme Üzerindeki Etkileri

Year 2021, Volume: 36 Issue: 1, 13 - 26, 31.03.2021
https://doi.org/10.24988/ije.202136102

Abstract

Bu çalışmada 1980 yılında dünya genelinde uygulamaya konulan serbestleşme politikalarının sonrasında Avrupa Birliği’nin ekonomik büyümesinde elektrik enerjisinin rolü incelenmiştir. Çalışmanın temel amacı, Avrupa Birliği’nde elektrik tüketimi ile ekonomik büyüme arasındaki ilişkiyi ortaya koyarak iktisadi açıdan etkin ve uygulanabilir enerji politikaları önerilerinde bulunmaktır. Bu amaç doğrultusunda, 1980-2014 dönemindeki yıllık veriler ile uzun dönem ilişkisinin tespiti için ARDL Sınır Testi Yaklaşımı, nedensellik ilişkisi içinse Toda-Yamamoto Nedensellik Analizi kullanılmıştır. Ulaşılan sonuçlar uzun dönemde elektrik enerjisi tüketiminin ekonomik büyüme üzerinde pozitif etkisinin olduğunu göstermektedir. Ayrıca, Toda-Yamamoto nedensellik analizi sonuçları Avrupa Birliği’nde çevre iktisatçılarının desteklediği elektrik tüketiminden ekonomik büyümeye doğru tek yönlü nedensellik ilişkisi olduğunu savunan Büyüme Hipotezi’ni doğrulamaktadır.

Thanks

Bu makale, Gazi Üniversitesi Sosyal Bilimler Enstitüsünde Doç. Dr. Emre Güneşer BOZDAG danışmanlığında Bayram AYDIN tarafından yazılan ''Elektrik Tüketimi ve Ekonomik Büyüme Arasındaki İlişki: Avrupa Birliği ve Türkiye Üzerine Ampirik Bir İnceleme'' isimli yüksek lisans tezinden yararlanılarak hazırlanmıştır.

References

  • Acaravci, A. and Ozturk, I. (2010). Electricity consumption-growth nexus: Evidence from panel data for transition countries. Energy Economics, 32, 604-608.
  • Ağır, H. and Kar, M. (2010). Türkiye’de Elektrik Tüketimi ve Ekonomik Gelişmişlik Düzeyi İlişkisi: Yatay Kesit Analizi. Sosyo Ekonomi, Özel Sayı 2010-EN, 149-176.
  • Akel, V. and Gazel, S. (2014). Döviz Kurları İle Bıst Sanayi Endeksi Arasındaki Eşbütünleşme İlişkisi: Bir Ardl Sınır Testi Yaklaşımı. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 44, 23-41.
  • Akinlo, A. E. (2009). Electricity consumption and economic growth in Nigeria: Evidence from cointegration and co-feature analysis. Journal of Policy Modeling, 31, 681-693.
  • Alper, F. Ö. and Alper, A. E. (2017). Karbondioksit Emisyonu, Ekonomik Büyüme, EnerjibTüketimi İlişkisi: Türkiye İçin Bir ARDL Sınır Testi Yaklaşımı. Sosyoekonomi, 25(33), 145-156.
  • Atif, S. M. and Siddiqi, M. W. (2010). The Electricity Consumption and Economic Growth Nexus in Pakistan: A New Evidence. Munich Personal RePEc Archive 2010; Working Paper No: 41377.
  • Aydın, B. and Bozdağ, E. G. (2018). Elektrik Tüketimi ve Ekonomik Büyüme Arasındaki Ilişki: Avrupa Birliği ve Türkiye Örneği, International Journal of Academic Value Studies, 4(18), 70-80.
  • Bah M. M. and Azam, M. (2017). Investigating the relationship between electricity consumption and economic growth: Evidence from South Africa. Renewable and Sustainable Energy Reviews, 80, 531–537.
  • Bélaïd, F. and Abderrahmani, F. (2013). Electricity consumption and economic growth in Algeria: A multivariate causality analysis in the presence of structural change. Energy Policy, 55, 286-295.
  • Bohm, D. C. (2008). Electricity consumption and economic growth in the European Union: A causality study using panel unit root and cointegration analysis, 2008 5th International Conference on the European Electricity Market, Lisboa, 2008, pp. 1-6, doi: 10.1109/EEM.2008.4579055.
  • Ciarreta, A. and Zarraga, A. (2010). Economic Growth and Electricity Consumption in 12 European Countries: A Causality Analysis Using Panel Data. Energy Policy, 38, 3790–3796.
  • Ciarreta, A. and Zarraga, A. (2007). Electricity Consumption and Economic Growth: Evidence from Spain. Documentos De Trabajo Bıltokı, 01, 1-16.
  • Ergün, S. ve Atay Polat, M. (2015). OECD Ülkelerinde Co2 Emisyonu, Elektrik Tüketimi ve Büyüme İlişkisi. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 45, 115-141.
  • European Commission (2019). European Commission statistical country datasheets. Date of Access: February 24, 2019. https://ec.europa.eu/energy/en/data/energy-statistical-pocketbook.
  • Gazel, S. (2017). Bist Sınai Endeksi İle Çeşitli Metaller Arasındaki İlişki: Toda-Yamamoto Nedensellik Testi. Akademik Sosyal Araştırmalar Dergisi, 52, 287-299.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India. Energy Policy, 30, 125-129.
  • Gujarati, D. N. and Porter, D. C. (2009). Temel Ekonometri (Çev. Ü. Şeneşen ve G. G. Şeneşen). İstanbul: Litaretür Yayınları No 656. (Eserin orjinali 5. Baskıdan Çeviri).
  • Hamdi, H. and Sbia, R. (2012). Short-run and Long-run causality between electricity consumption and economic growth in a small open economy. Munich Personal RePEc Archive 2012; Working Paper No: 49904.
  • Ikegami, M. and Wang, Z. (2016). The long-run causal relationship between electricity consumption and real GDP: Evidence from Japan and Germany. Journal of Policy Modeling, 38, 767–784.
  • International Energy Agency (2017). International Energy Agency Data. Date of Access: November 15, 2017. https://www.iea.org/.
  • Kayhan, S., Adığüzel, U., Bayat, T. and Lebe, F. (2010). Causalıty Relatıonshıp Between Real Gdp And Electrıcıty Consumptıon In Romanıa (2001- 2010). Romanian Journal of Economic Forecasting, 4, 169-183.
  • Narayan, P. K. and Smyth, R. (2005). Electricity consumption, employment and real income in Australia evidence from multivariate Granger causality tests. Energy Policy, 33, 1109-1116.
  • Narayan, P. K., Narayan, S. and Prasad, A. (2008). A structural VAR analysis of electricity consumption and real GDP: Evidence from the G7 countries. Energy Policy, 36, 2765-2769.
  • Nişancı, M. (2005). Türkiye’de Elektrik Enerjisi Talebi ve Elektrik Tüketimi ile Ekonomik Büyüme Arasındaki İlişki. Selçuk Üniversitesi İktisadi ve İdari Bilimler Fakültesi Sosyal ve Ekonomik Araştırmalar Dergisi, 5(9), 107-121.
  • Osman, M., Gachino, G. and Hoque, A. (2016). Electricity consumption and economic growth in the GCC countries: Panel data analysis. Energy Policy, 98, 318–327.
  • Pamuk, M., ve Bektaş, H. (2014). Türkiye’de Eğitim Harcamaları ve Ekonomik Büyüme Arasındaki İlişki: ARDL Sınır Testi Yaklaşımı. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 2(2), 77-90.
  • Payne, J. E. (2010). A survey of the electricity consumption-growth literatüre. Applied Energy, 87, 723–731.
  • Peter Sekantsi, L. and Motlokoa, M. (2015). Evıdence On The Nexus Between Electrıcıty Consumptıon and Economıc Growth Through Empırıcal Investıgatıon of Uganda. Review of Economic & Business Studies, 8(1), 149-165.
  • Shahbaz, M., Sbia, R., Hamdi, H. and Ozturk, I. (2014). Economic growth, electricity consumption, urbanization and environmental degradation relationship in United Arab Emirates. Ecological Indicators, 45, 622–631.
  • Shahbaz, M., Tang, C. F. and Shahbaz Shabbir, M. (2011). Electricity consumption and economic growth nexus in Portugal using cointegration and causality approaches. Energy Policy, 39, 3529-3536.
  • Shiu, A., and Lam, P.-L. (2004). Electricity consumption and economic growth in China. Energy Policy, 32, 47-54.
  • Squalli, J. (2007). Electricity consumption and economic growth: Bounds and causality analyses of OPEC members. Energy Economics, 29, 1192-1205.
  • Tang, C. F. (2008). A re-examination of the relationship between electricity consumption and economic growth in Malaysia. Energy Policy, 36, 3077-3085.
  • Toda, H. Y. and Yamamoto, T. (1995). Statistical İnference in Vector Autoregressions With Possibly İntegrated Processes. Journal of Econometrics, 66, 225-250.
  • World Bank Data (2017). World Bank Indicators. Date of Access: November 15, 2017. https://data.worldbank.org/.
  • Wolde-Rufael, Y. (2006). Electricity consumption and economic growth: a time series experience for 17 African countries. Energy Policy, 34, 1106-1114.
  • Yoo, S. H. (2006). The causal relationship between electricity consumption and economic growth in the ASEAN countries. Energy Policy, 34, 3573-3582.
  • Yoo, S.-H. (2005). Electricity consumption and economic growth: evidence from Korea. Energy Policy, 33, 1627-1632.

The Impact of Electricity Consumption on Economic Growth in the European Union

Year 2021, Volume: 36 Issue: 1, 13 - 26, 31.03.2021
https://doi.org/10.24988/ije.202136102

Abstract

In this study, the role of electricity on economic growth was investigated after the liberalization policies implemented in 1980 for the European Union. The main objective of the study is to present the relationship between electricity consumption and economic growth in the European Union and to propose economically efficient and feasible energy policies. For this purpose, the ARDL Bound Test Approach for the determination of the long-term relationship and Toda-Yamamoto Causality Analysis for the causality relation were used with the annual data for the period 1980-2014. The results show that electricity consumption has positive effect on economic growth in the long-run. Moreover, the results of Toda-Yamamoto Causality Analysis confirm the Growth Hypothesis, which argues that there is uni-directional causality relationship from electricity consumption to economic growth in the European Union.

References

  • Acaravci, A. and Ozturk, I. (2010). Electricity consumption-growth nexus: Evidence from panel data for transition countries. Energy Economics, 32, 604-608.
  • Ağır, H. and Kar, M. (2010). Türkiye’de Elektrik Tüketimi ve Ekonomik Gelişmişlik Düzeyi İlişkisi: Yatay Kesit Analizi. Sosyo Ekonomi, Özel Sayı 2010-EN, 149-176.
  • Akel, V. and Gazel, S. (2014). Döviz Kurları İle Bıst Sanayi Endeksi Arasındaki Eşbütünleşme İlişkisi: Bir Ardl Sınır Testi Yaklaşımı. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 44, 23-41.
  • Akinlo, A. E. (2009). Electricity consumption and economic growth in Nigeria: Evidence from cointegration and co-feature analysis. Journal of Policy Modeling, 31, 681-693.
  • Alper, F. Ö. and Alper, A. E. (2017). Karbondioksit Emisyonu, Ekonomik Büyüme, EnerjibTüketimi İlişkisi: Türkiye İçin Bir ARDL Sınır Testi Yaklaşımı. Sosyoekonomi, 25(33), 145-156.
  • Atif, S. M. and Siddiqi, M. W. (2010). The Electricity Consumption and Economic Growth Nexus in Pakistan: A New Evidence. Munich Personal RePEc Archive 2010; Working Paper No: 41377.
  • Aydın, B. and Bozdağ, E. G. (2018). Elektrik Tüketimi ve Ekonomik Büyüme Arasındaki Ilişki: Avrupa Birliği ve Türkiye Örneği, International Journal of Academic Value Studies, 4(18), 70-80.
  • Bah M. M. and Azam, M. (2017). Investigating the relationship between electricity consumption and economic growth: Evidence from South Africa. Renewable and Sustainable Energy Reviews, 80, 531–537.
  • Bélaïd, F. and Abderrahmani, F. (2013). Electricity consumption and economic growth in Algeria: A multivariate causality analysis in the presence of structural change. Energy Policy, 55, 286-295.
  • Bohm, D. C. (2008). Electricity consumption and economic growth in the European Union: A causality study using panel unit root and cointegration analysis, 2008 5th International Conference on the European Electricity Market, Lisboa, 2008, pp. 1-6, doi: 10.1109/EEM.2008.4579055.
  • Ciarreta, A. and Zarraga, A. (2010). Economic Growth and Electricity Consumption in 12 European Countries: A Causality Analysis Using Panel Data. Energy Policy, 38, 3790–3796.
  • Ciarreta, A. and Zarraga, A. (2007). Electricity Consumption and Economic Growth: Evidence from Spain. Documentos De Trabajo Bıltokı, 01, 1-16.
  • Ergün, S. ve Atay Polat, M. (2015). OECD Ülkelerinde Co2 Emisyonu, Elektrik Tüketimi ve Büyüme İlişkisi. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 45, 115-141.
  • European Commission (2019). European Commission statistical country datasheets. Date of Access: February 24, 2019. https://ec.europa.eu/energy/en/data/energy-statistical-pocketbook.
  • Gazel, S. (2017). Bist Sınai Endeksi İle Çeşitli Metaller Arasındaki İlişki: Toda-Yamamoto Nedensellik Testi. Akademik Sosyal Araştırmalar Dergisi, 52, 287-299.
  • Ghosh, S. (2002). Electricity consumption and economic growth in India. Energy Policy, 30, 125-129.
  • Gujarati, D. N. and Porter, D. C. (2009). Temel Ekonometri (Çev. Ü. Şeneşen ve G. G. Şeneşen). İstanbul: Litaretür Yayınları No 656. (Eserin orjinali 5. Baskıdan Çeviri).
  • Hamdi, H. and Sbia, R. (2012). Short-run and Long-run causality between electricity consumption and economic growth in a small open economy. Munich Personal RePEc Archive 2012; Working Paper No: 49904.
  • Ikegami, M. and Wang, Z. (2016). The long-run causal relationship between electricity consumption and real GDP: Evidence from Japan and Germany. Journal of Policy Modeling, 38, 767–784.
  • International Energy Agency (2017). International Energy Agency Data. Date of Access: November 15, 2017. https://www.iea.org/.
  • Kayhan, S., Adığüzel, U., Bayat, T. and Lebe, F. (2010). Causalıty Relatıonshıp Between Real Gdp And Electrıcıty Consumptıon In Romanıa (2001- 2010). Romanian Journal of Economic Forecasting, 4, 169-183.
  • Narayan, P. K. and Smyth, R. (2005). Electricity consumption, employment and real income in Australia evidence from multivariate Granger causality tests. Energy Policy, 33, 1109-1116.
  • Narayan, P. K., Narayan, S. and Prasad, A. (2008). A structural VAR analysis of electricity consumption and real GDP: Evidence from the G7 countries. Energy Policy, 36, 2765-2769.
  • Nişancı, M. (2005). Türkiye’de Elektrik Enerjisi Talebi ve Elektrik Tüketimi ile Ekonomik Büyüme Arasındaki İlişki. Selçuk Üniversitesi İktisadi ve İdari Bilimler Fakültesi Sosyal ve Ekonomik Araştırmalar Dergisi, 5(9), 107-121.
  • Osman, M., Gachino, G. and Hoque, A. (2016). Electricity consumption and economic growth in the GCC countries: Panel data analysis. Energy Policy, 98, 318–327.
  • Pamuk, M., ve Bektaş, H. (2014). Türkiye’de Eğitim Harcamaları ve Ekonomik Büyüme Arasındaki İlişki: ARDL Sınır Testi Yaklaşımı. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 2(2), 77-90.
  • Payne, J. E. (2010). A survey of the electricity consumption-growth literatüre. Applied Energy, 87, 723–731.
  • Peter Sekantsi, L. and Motlokoa, M. (2015). Evıdence On The Nexus Between Electrıcıty Consumptıon and Economıc Growth Through Empırıcal Investıgatıon of Uganda. Review of Economic & Business Studies, 8(1), 149-165.
  • Shahbaz, M., Sbia, R., Hamdi, H. and Ozturk, I. (2014). Economic growth, electricity consumption, urbanization and environmental degradation relationship in United Arab Emirates. Ecological Indicators, 45, 622–631.
  • Shahbaz, M., Tang, C. F. and Shahbaz Shabbir, M. (2011). Electricity consumption and economic growth nexus in Portugal using cointegration and causality approaches. Energy Policy, 39, 3529-3536.
  • Shiu, A., and Lam, P.-L. (2004). Electricity consumption and economic growth in China. Energy Policy, 32, 47-54.
  • Squalli, J. (2007). Electricity consumption and economic growth: Bounds and causality analyses of OPEC members. Energy Economics, 29, 1192-1205.
  • Tang, C. F. (2008). A re-examination of the relationship between electricity consumption and economic growth in Malaysia. Energy Policy, 36, 3077-3085.
  • Toda, H. Y. and Yamamoto, T. (1995). Statistical İnference in Vector Autoregressions With Possibly İntegrated Processes. Journal of Econometrics, 66, 225-250.
  • World Bank Data (2017). World Bank Indicators. Date of Access: November 15, 2017. https://data.worldbank.org/.
  • Wolde-Rufael, Y. (2006). Electricity consumption and economic growth: a time series experience for 17 African countries. Energy Policy, 34, 1106-1114.
  • Yoo, S. H. (2006). The causal relationship between electricity consumption and economic growth in the ASEAN countries. Energy Policy, 34, 3573-3582.
  • Yoo, S.-H. (2005). Electricity consumption and economic growth: evidence from Korea. Energy Policy, 33, 1627-1632.
There are 38 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Bayram Aydın 0000-0003-4238-7779

Publication Date March 31, 2021
Submission Date January 27, 2020
Acceptance Date May 6, 2021
Published in Issue Year 2021 Volume: 36 Issue: 1

Cite

APA Aydın, B. (2021). The Impact of Electricity Consumption on Economic Growth in the European Union. İzmir İktisat Dergisi, 36(1), 13-26. https://doi.org/10.24988/ije.202136102
İzmir Journal of Economics
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