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YENİLENEBİLİR VE YENİLENMEYEN ENERJİ TÜKETİMİNİN SEÇİLMİŞ OECD ÜLKELERİNİN EKONOMİK BÜYÜME ÜZERİNE ETKİSİ

Year 2018, Volume: 2 Issue: 2, 43 - 56, 30.12.2018

Abstract

Ekonomik süreçlerin büyüme ve şekillenmesindeki enerji kaynaklarının önemi ve bu kıymetli kaynakların değerlendirme gerekçesi, çeşitli enerji kaynaklarının tanımı ve incelenmesini önemli kılmaktadır. Bu çalışmanın temel amacı, enerji (yenilenebilir ve yenilenmeyen ayrımı ile) tüketimi, beşeri ve fiziki sermaye ve AR-GE harcamalarının etkilerini, 2001-2009 yıllar arası, seçilmiş 21 OECD ülkesinin ekonomik büyüme üzerine incelemektir. Ayrıca, sonuçların ayrıntılarını detaylı bir şekilde ele almak için, yenilenebilir ve yenilenemeyen enerji tüketiminin etkilerini ayrı ayrı incelemenin yanı sıra toplam enerji tüketiminin (yenilenebilir ve yenilenemeyen enerji tüketimi toplamı) etkileri de incelenmiştir. Değişkenlerin etkilerini belirlemek için Genelleştirilmiş En Küçük Kareler (GLS) yöntemi ele alınarak panel veri ekonomik teknik kullanılmıştır. Çalışmanın sonuçlarına göre, diğer değişkenlerin (beşeri sermaye, fiziki sermaye ve AraştırmaGeliştirme (R&D) harcamalarının yanı sıra yenilenebilir, yenilenemeyen enerji tüketimi, seçilmiş OECD ülkelerinin ekonomik büyümesi üzerinde pozitif ve anlamlı bir etkisi olduğu ortaya çıkmıştır. Ayrıca, toplam enerji tüketiminin seçilmiş OECD ülkelerinin ekonomik büyümesi üzerindeki pozitif ve anlamlı etkisi tespit edilmiştir. 

References

  • Alipour H (2010) The effect of oil prices and economic growth on nuclear energy consuming in nuclear energy consumer countries. MA thesis, Department of Economics, Islamic Azad University, Tabriz. (In Persian)
  • Amadeh H, Ghazi M, AbbasiFar Z (2009) The relationship between energy consumption and economic growth and employment in different sectors of Iran. Journal of Economic Research 86: 1-38. (In Persian)
  • Apergis N, Payne, J E (2012) Renewable and non-renewable energy consumption-growth nexus: Evidence from a panel error correction model. Energy Economics 34: 733–738.
  • Apergis N, Payne J E (2011) A panel study of nuclear energy consumption and economic growth. Energy Economics 32: 545–549.
  • Arman A, Kamali P, Heibati R (2010) The relationship between energy consumption and industrial production in Iran. Energy Economics Studies 27: 19-46. (In Persian)
  • Behboodi D, Mohammadzadeh P, Jabraeeli S (2009), Studying of Energy Consumption and GDP in developing and developed countries. Energy Economics Studies 23: 1-22. (In Persian)
  • Bowden N. Payne J E (2009) The causal relationship between U.S. energy consumption and real output: a disaggregated analysis. Journal Policy Model 31: 180–188.
  • Can Tansel T, Ilhan O, Alper A (2012) Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics 34: 1942–1950.
  • Chiang Lee C, Chiu Y(2011) Nuclear energy consumption, oil prices, and economic growth: Evidence from highly industrialized countries. Journal of Energy Economics 13: 1-13.
  • Cleveland C J, Kaufmann R K, Stern D (2000) Aggregation and the role of energy in the economy. Ecological Economics 32: 301-317.
  • Daly H E (1997) Georgescu-Roegen versus Solow/Stiglitz. Ecological Economics 22: 261-266.
  • Ebrahimpour R (2008) The causal relationship between energy consumption and economic growth in Iran during 1969-2006. MA thesis, Department of Economics, Islamic Azad University, Tabriz. (In Persian)
  • Fetros M, Aghazadeh A, Jabraeeli S (2011) The impact of economic growth on renewable energy: Comarative Comparison of Selected Countries of the Organization for Economic Cooperation and Development (OECD) member and non-meber (including Iran). Journal of Research and Economic Policies 60: 81-90.
  • Fetros M, Aghazadeh A, Jabraeeli S (2012) The effects of renewable and non-renewable energy sources on the economic growth of developing countries (including Iran) during 1980-2009. Energy Economics Studies 32: 51-72.
  • Hayami, Y (2001) Economics of Development, From Poverty to Wealth of Nations. Translation: Azad Armaki Gh First Edition, Ney Publications, Tehran.
  • Kao C, Chiang M (1999) On the Estimation and Inference of a Cointegrated Regression in Panel Data, Working Paper. Center for Policy Research, Syracuse University, New York.
  • Khalilpour A (2006) The relationship between energy consumption and economic growth in Iran. MA thesis, Department of Economics, Tabriz University, Tabriz. (In Persian)
  • Mehrara M, Zarei M (2011) Non-linear effects of energy consumption on economic growth based on threshold approach. Journal of Research in Economic Growth and Development 5: 11-43. (In Persian)
  • Nahidi M, Kiavar F (2010) The relationship between energy prices and energy consumption in the industrial sector of the Iran economy. Journal of Oil, Gas and Energy 5: 41-47. (In Persian)
  • Narayan S, Doytch N (2017) An Investigation of Renewable and Non-renewable Energy Consumption and Economic Growth Nexus using Industrial and Residential Energy Consumption? Energy Economics, https://doi.org/10.1016/j.eneco.2017.09.005.
  • Organisation for Economic Co-operation and Development. (2013) http://www.oecd.org/statistics/.
  • Sadorsky P (2009) Renewable Energy Consumption and Income in Emerging Economies. Energy Policy 37: 4021-4028.
  • Sadorsky P (2012) Energy consumption, out put and trade in South America. Energy Economics 34: 476-488.
  • Shakibaee A, Ahmadlou M (2011) The relationship between energy consumption and economic sub-sectors growth in Iran during 1386-1246: vector error correction approach. Journal of Energy Economics Studies 30: 181-203. (In Persian)
  • Stern, D I, Cleveland C J (2004) Energy and Economic Growth, Rensselaer Working Papers in Economics No. 0410. Rensselaer Polytechnic Institute, USA, 1-42.Stren I D (2004) Economic Growth and Energy. Encyclopaedia of Energy 2: 35-51.
  • Tiwari A K (2011) Comparative performance of renewable and non-renewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: a PVAR approach. Economics Bulletin 31: 2356–2372.
  • World Bank, (2013) World Development Indicators. http://www.worldbank.org/data/onlinedatabases.html.
  • Yildirim E, Aslan A (2012) Energy Consumption And Economic Growth Nexus For 17 highly Developed OECD Countries: Further evidence based on bootstrap-corrected causality tests. Energy Policy 51: 985–993.
  • Yildirim E, Sukruoglu D, Aslan A (2014) Energy Consumption And Economic Growth in The Next 11 Countries: The bootstrapped autoregressive metric causality approach. Energy Economics 44: 14–21.

THE EFFECT OF RENEWABLE AND NON-RENEWABLE ENERGY CONSUMPTION ON ECONOMIC GROWTH OF SELECTED OECD COUNTRIES

Year 2018, Volume: 2 Issue: 2, 43 - 56, 30.12.2018

Abstract

The importance of energy resources in the growth and formation of economic processes and also the reason for the evaluation of these valuable resources, make it important to recognize and analyse of various energy sources. The main purpose of this study is to examine the effects of energy (with renewable and non-renewable distinction) consumption, human and physical capital and Research and Development (R&D) expenditures over the period 2001-2009 on the economic growth of selected 21 Organisation for Economic Co-operation and Development (OECD) countries. In addition, in order to elaborate the details of the results, in addition to examining the effects of renewable and non-renewable energy consumption separately, the effects of total energy consumption (sum of renewable and non-renewable energy consumption) were also examined. To determine the effects of variables, considering the Generalized Least Squares (GLS) method, Panel data econometric technique is used. According to the results of the study, beside other variables (human capital, physical capital and Research and Development (R&D) expenditures, renewable, non-renewable energy consumption have positive and significant effects on economic growth of selected OECD countries. Also, positive and significant effect of total energy consumption on economic growth of selected OECD countries has been approved.

References

  • Alipour H (2010) The effect of oil prices and economic growth on nuclear energy consuming in nuclear energy consumer countries. MA thesis, Department of Economics, Islamic Azad University, Tabriz. (In Persian)
  • Amadeh H, Ghazi M, AbbasiFar Z (2009) The relationship between energy consumption and economic growth and employment in different sectors of Iran. Journal of Economic Research 86: 1-38. (In Persian)
  • Apergis N, Payne, J E (2012) Renewable and non-renewable energy consumption-growth nexus: Evidence from a panel error correction model. Energy Economics 34: 733–738.
  • Apergis N, Payne J E (2011) A panel study of nuclear energy consumption and economic growth. Energy Economics 32: 545–549.
  • Arman A, Kamali P, Heibati R (2010) The relationship between energy consumption and industrial production in Iran. Energy Economics Studies 27: 19-46. (In Persian)
  • Behboodi D, Mohammadzadeh P, Jabraeeli S (2009), Studying of Energy Consumption and GDP in developing and developed countries. Energy Economics Studies 23: 1-22. (In Persian)
  • Bowden N. Payne J E (2009) The causal relationship between U.S. energy consumption and real output: a disaggregated analysis. Journal Policy Model 31: 180–188.
  • Can Tansel T, Ilhan O, Alper A (2012) Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics 34: 1942–1950.
  • Chiang Lee C, Chiu Y(2011) Nuclear energy consumption, oil prices, and economic growth: Evidence from highly industrialized countries. Journal of Energy Economics 13: 1-13.
  • Cleveland C J, Kaufmann R K, Stern D (2000) Aggregation and the role of energy in the economy. Ecological Economics 32: 301-317.
  • Daly H E (1997) Georgescu-Roegen versus Solow/Stiglitz. Ecological Economics 22: 261-266.
  • Ebrahimpour R (2008) The causal relationship between energy consumption and economic growth in Iran during 1969-2006. MA thesis, Department of Economics, Islamic Azad University, Tabriz. (In Persian)
  • Fetros M, Aghazadeh A, Jabraeeli S (2011) The impact of economic growth on renewable energy: Comarative Comparison of Selected Countries of the Organization for Economic Cooperation and Development (OECD) member and non-meber (including Iran). Journal of Research and Economic Policies 60: 81-90.
  • Fetros M, Aghazadeh A, Jabraeeli S (2012) The effects of renewable and non-renewable energy sources on the economic growth of developing countries (including Iran) during 1980-2009. Energy Economics Studies 32: 51-72.
  • Hayami, Y (2001) Economics of Development, From Poverty to Wealth of Nations. Translation: Azad Armaki Gh First Edition, Ney Publications, Tehran.
  • Kao C, Chiang M (1999) On the Estimation and Inference of a Cointegrated Regression in Panel Data, Working Paper. Center for Policy Research, Syracuse University, New York.
  • Khalilpour A (2006) The relationship between energy consumption and economic growth in Iran. MA thesis, Department of Economics, Tabriz University, Tabriz. (In Persian)
  • Mehrara M, Zarei M (2011) Non-linear effects of energy consumption on economic growth based on threshold approach. Journal of Research in Economic Growth and Development 5: 11-43. (In Persian)
  • Nahidi M, Kiavar F (2010) The relationship between energy prices and energy consumption in the industrial sector of the Iran economy. Journal of Oil, Gas and Energy 5: 41-47. (In Persian)
  • Narayan S, Doytch N (2017) An Investigation of Renewable and Non-renewable Energy Consumption and Economic Growth Nexus using Industrial and Residential Energy Consumption? Energy Economics, https://doi.org/10.1016/j.eneco.2017.09.005.
  • Organisation for Economic Co-operation and Development. (2013) http://www.oecd.org/statistics/.
  • Sadorsky P (2009) Renewable Energy Consumption and Income in Emerging Economies. Energy Policy 37: 4021-4028.
  • Sadorsky P (2012) Energy consumption, out put and trade in South America. Energy Economics 34: 476-488.
  • Shakibaee A, Ahmadlou M (2011) The relationship between energy consumption and economic sub-sectors growth in Iran during 1386-1246: vector error correction approach. Journal of Energy Economics Studies 30: 181-203. (In Persian)
  • Stern, D I, Cleveland C J (2004) Energy and Economic Growth, Rensselaer Working Papers in Economics No. 0410. Rensselaer Polytechnic Institute, USA, 1-42.Stren I D (2004) Economic Growth and Energy. Encyclopaedia of Energy 2: 35-51.
  • Tiwari A K (2011) Comparative performance of renewable and non-renewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: a PVAR approach. Economics Bulletin 31: 2356–2372.
  • World Bank, (2013) World Development Indicators. http://www.worldbank.org/data/onlinedatabases.html.
  • Yildirim E, Aslan A (2012) Energy Consumption And Economic Growth Nexus For 17 highly Developed OECD Countries: Further evidence based on bootstrap-corrected causality tests. Energy Policy 51: 985–993.
  • Yildirim E, Sukruoglu D, Aslan A (2014) Energy Consumption And Economic Growth in The Next 11 Countries: The bootstrapped autoregressive metric causality approach. Energy Economics 44: 14–21.
There are 29 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Saeid Hajıhassanıasl 0000-0003-2127-5604

Roya Akbarıan This is me

Publication Date December 30, 2018
Published in Issue Year 2018 Volume: 2 Issue: 2

Cite

APA Hajıhassanıasl, S., & Akbarıan, R. (2018). THE EFFECT OF RENEWABLE AND NON-RENEWABLE ENERGY CONSUMPTION ON ECONOMIC GROWTH OF SELECTED OECD COUNTRIES. G.Ü. İslahiye İİBF Uluslararası E-Dergi, 2(2), 43-56.