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ENERGY CONSUMPTION, TRADE OPENNESS AND GROWTH NEXUS IN TURKEY: EVIDENCE FROM VECM

Yıl 2019, Cilt: 20 Sayı: 1, 1 - 12, 31.05.2019

Elma Satrovic

Öz

Kaynakça

  • ACARAVCI, A., ERDOGAN, S., and AKALIN, G. (2015). “The Electricity Consumption, Real Income, Trade Openness and Foreign Direct Investment: The Empirical Evidence from Turkey”, International Journal of Energy Economics and Policy, Vol. 5; 1050-1057.
  • ALTINAY G. and KARAGOL E. (2004), “Structural Break, Unit Root, and the Causality between Energy Consumption and GDP in Turkey”, Energy Economics, Vol. 26; 985-994.
  • BAUM, C.F. (2013), VAR, SVAR and VECM models, Retrieved from: http://fmwww.bc.edu/EC-C/S2013/823/EC823.S2013.nn10.slides.pdf. Date: 20.07.2018.
  • BELKE, A., DOBNIK, F., and DREGER, C. (2011), “Energy Consumption and Economic Growth New Insights into the Cointegration Relationship”, Energy Economics, Vol. 33; 782-789.
  • BOLUK, G., and KOC, A.A. (2011), “Dynamics of Energy Consumption Patterns in Turkey: Its Drivers and Consequences”, World Renewable Energy Congress 2011-Sweden, Retrieved from: http://www.ep.liu.se/ecp/057/vol12/061/ecp57vol12_061.pdf/, Date: 21.11.2018.
  • CETIN, M. (2016), “The Impact of Energy Consumption, Trade Openness and Financial Development on Economic Growth: Empirical Evidence from Turkey (1980–2014)”, Russian Federation European Journal of Economic Studies, Vol. 18; 459-469.
  • CHAUDRY, I.S., SAFDAR, N., and FAROOQ, F. (2012), “Energy Consumption and Economic Growth: Empirical Evidence from Pakistan”, Pakistan Journal of Social Sciences, Vol. 32; 371-382.
  • COOKE, H.A. (2010), “Trade Policy and Economic Growth in Sub-Saharan Africa: A Panel Data Approach”, Am J Trade Policy, Vol. 1; 94-101.
  • GROSSMAN, G. M., and HELPMAN, E. (1990), “Comparative Advantage and Long-Run Growth”, American Economic Review, Vol. 80; 796-815.
  • HASSON, A. and MASIH, M. (2017), “Energy Consumption, Trade Openness, Economic Growth, Carbon Dioxide Emissions and Electricity Consumption: Evidence from South Africa Based on ARDL”, MPRA Paper No. 79424. Retrieved from: https://mpra.ub.uni-muenchen.de/79424/, Date: 18.10.2018.
  • JAFARI, S.A., GHADERI, S., HOSSEINZADEH, R., NADEMI, Y. (2012), “Openness and Inflation: New Empirical Panel Data Evidence”, Econ Lett, Vol. 117; 573-577.
  • KAPLAN, M., OZTURK, I., and KALYONCU, H. (2011), “Energy Consumption and Economic Growth in Turkey: Cointegration and Causality Analysis”, Romanian Journal of Economic Forecasting, Vol. 2; 31-41.
  • MESCHI, E., TAYMAZ, E., and VIVARELLI, M. (2008), “Trade Openness and the Demand for Skills: Evidence from Turkish Microdata”, Discussion Paper No. 3887, Retrieved from: http://ftp.iza.org/dp3887.pdf. Date: 13.08.2018.
  • MUSLIJA, A., SATROVIC, E. and UNVER ERBAS, C, (2017), “Panel Analysis of Tourism -Economic Growth Nexus”, International Journal of Economic Studies, Vol. 3; 535-545.
  • 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, Vol. 36; 2765–2769.
  • NASREEN, S., and ANWAR, S. (2014), “Causal Relationship between Trade Openness, Economic Growth and Energy Consumption: A Panel Data Analysis of Asian Countries”, Energy Policy, Vol. 69; 82-91.
  • OZTURK, I. (2010), “A Literature Survey On Energy-Growth Nexus”, Energy Policy, Vol. 38; 340-349.
  • OZTURK, I., ASLAN, A., and KALYONCU, H. (2010), “Energy Consumption and Economic Growth Relationship: Evidence From Panel Data for Low and Middle Income Countries”, Energy Policy, Vol. 38; 4422–4428.
  • RODRIGUEZ, F., and RODRIK, D. (2001), “Trade Policy and Economic Growth: A Skeptic’s Guide to the Cross-National Evidence”. In NBER (Ed.), NBER Macroeconomics Annual 2000 (pp. 261–338). Cambridge, MA: National Bureau of Economic Research.
  • SADORSKY, P., (2012), “Energy Consumption, Output and Trade in South America”, Energy Econ., Vol. 34; 476–488.
  • SAHBUDAK, E. and SAHIN, D. (2016), “Relationship between Energy Consumption, Economic Growth and Trade Openness in Turkey”, The Journal of International Social Research, Vol. 9; 1648-1652.
  • SATROVIC, E. (2018a), Merits of Life Insurance, GRIN Verlag, Munich.
  • SATROVIC, E. (2018b), “The Human Development Relies on Renewable Energy: Evidence from Turkey”, 3rd International Energy & Engineering, Book of Proceedings, Gaziantep, Turkey; 19-27. Retrieved from: https://docs.wixstatic.com/ugd/315b3d_a4d7493ae65e4815be5ae3ab05f83d3f.pdf, Date: 21.11.2018.
  • SHAYANEWAKO, V. B. (2018), “The Relationship between Trade Openness and Economic Growth: The Case of BRICS Countries”, Journal of Global Economics, Vol. 6; 1-5.

ENERGY CONSUMPTION, TRADE OPENNESS AND GROWTH NEXUS IN TURKEY: EVIDENCE FROM VECM

Yıl 2019, Cilt: 20 Sayı: 1, 1 - 12, 31.05.2019

Elma Satrovic

Öz

This
research investigates the relationship between energy consumption (ENE), trade
openness (TI) and economic growth (GDP) in the case of Turkey in the period
1970-2015. VECM is employed. The results suggest a
long-run causality which is inferred from the statistically significant error
term with GDP and ENE. However, short-run coefficients are not found to be
significant in the case of GDP and TI equation. Moreover, the findings suggest
that a percentage change in ENE will result in a 1.35% increase in real GDP per
capita. While for TI, a percentage change in this variable will result in 0.13%
decrease in GDP in the long-run. Hence, real GDP per capita is elastic to the
change in energy consumption but inelastic to the change in TI. This paper
summarizes in detail the policy implications and the recommendations for future
research. At last, the diagnostic tests advocate the stability of the model.

Anahtar Kelimeler

economic growth energy consumption trade openness Turkey VECM

Kaynakça

  • ACARAVCI, A., ERDOGAN, S., and AKALIN, G. (2015). “The Electricity Consumption, Real Income, Trade Openness and Foreign Direct Investment: The Empirical Evidence from Turkey”, International Journal of Energy Economics and Policy, Vol. 5; 1050-1057.
  • ALTINAY G. and KARAGOL E. (2004), “Structural Break, Unit Root, and the Causality between Energy Consumption and GDP in Turkey”, Energy Economics, Vol. 26; 985-994.
  • BAUM, C.F. (2013), VAR, SVAR and VECM models, Retrieved from: http://fmwww.bc.edu/EC-C/S2013/823/EC823.S2013.nn10.slides.pdf. Date: 20.07.2018.
  • BELKE, A., DOBNIK, F., and DREGER, C. (2011), “Energy Consumption and Economic Growth New Insights into the Cointegration Relationship”, Energy Economics, Vol. 33; 782-789.
  • BOLUK, G., and KOC, A.A. (2011), “Dynamics of Energy Consumption Patterns in Turkey: Its Drivers and Consequences”, World Renewable Energy Congress 2011-Sweden, Retrieved from: http://www.ep.liu.se/ecp/057/vol12/061/ecp57vol12_061.pdf/, Date: 21.11.2018.
  • CETIN, M. (2016), “The Impact of Energy Consumption, Trade Openness and Financial Development on Economic Growth: Empirical Evidence from Turkey (1980–2014)”, Russian Federation European Journal of Economic Studies, Vol. 18; 459-469.
  • CHAUDRY, I.S., SAFDAR, N., and FAROOQ, F. (2012), “Energy Consumption and Economic Growth: Empirical Evidence from Pakistan”, Pakistan Journal of Social Sciences, Vol. 32; 371-382.
  • COOKE, H.A. (2010), “Trade Policy and Economic Growth in Sub-Saharan Africa: A Panel Data Approach”, Am J Trade Policy, Vol. 1; 94-101.
  • GROSSMAN, G. M., and HELPMAN, E. (1990), “Comparative Advantage and Long-Run Growth”, American Economic Review, Vol. 80; 796-815.
  • HASSON, A. and MASIH, M. (2017), “Energy Consumption, Trade Openness, Economic Growth, Carbon Dioxide Emissions and Electricity Consumption: Evidence from South Africa Based on ARDL”, MPRA Paper No. 79424. Retrieved from: https://mpra.ub.uni-muenchen.de/79424/, Date: 18.10.2018.
  • JAFARI, S.A., GHADERI, S., HOSSEINZADEH, R., NADEMI, Y. (2012), “Openness and Inflation: New Empirical Panel Data Evidence”, Econ Lett, Vol. 117; 573-577.
  • KAPLAN, M., OZTURK, I., and KALYONCU, H. (2011), “Energy Consumption and Economic Growth in Turkey: Cointegration and Causality Analysis”, Romanian Journal of Economic Forecasting, Vol. 2; 31-41.
  • MESCHI, E., TAYMAZ, E., and VIVARELLI, M. (2008), “Trade Openness and the Demand for Skills: Evidence from Turkish Microdata”, Discussion Paper No. 3887, Retrieved from: http://ftp.iza.org/dp3887.pdf. Date: 13.08.2018.
  • MUSLIJA, A., SATROVIC, E. and UNVER ERBAS, C, (2017), “Panel Analysis of Tourism -Economic Growth Nexus”, International Journal of Economic Studies, Vol. 3; 535-545.
  • 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, Vol. 36; 2765–2769.
  • NASREEN, S., and ANWAR, S. (2014), “Causal Relationship between Trade Openness, Economic Growth and Energy Consumption: A Panel Data Analysis of Asian Countries”, Energy Policy, Vol. 69; 82-91.
  • OZTURK, I. (2010), “A Literature Survey On Energy-Growth Nexus”, Energy Policy, Vol. 38; 340-349.
  • OZTURK, I., ASLAN, A., and KALYONCU, H. (2010), “Energy Consumption and Economic Growth Relationship: Evidence From Panel Data for Low and Middle Income Countries”, Energy Policy, Vol. 38; 4422–4428.
  • RODRIGUEZ, F., and RODRIK, D. (2001), “Trade Policy and Economic Growth: A Skeptic’s Guide to the Cross-National Evidence”. In NBER (Ed.), NBER Macroeconomics Annual 2000 (pp. 261–338). Cambridge, MA: National Bureau of Economic Research.
  • SADORSKY, P., (2012), “Energy Consumption, Output and Trade in South America”, Energy Econ., Vol. 34; 476–488.
  • SAHBUDAK, E. and SAHIN, D. (2016), “Relationship between Energy Consumption, Economic Growth and Trade Openness in Turkey”, The Journal of International Social Research, Vol. 9; 1648-1652.
  • SATROVIC, E. (2018a), Merits of Life Insurance, GRIN Verlag, Munich.
  • SATROVIC, E. (2018b), “The Human Development Relies on Renewable Energy: Evidence from Turkey”, 3rd International Energy & Engineering, Book of Proceedings, Gaziantep, Turkey; 19-27. Retrieved from: https://docs.wixstatic.com/ugd/315b3d_a4d7493ae65e4815be5ae3ab05f83d3f.pdf, Date: 21.11.2018.
  • SHAYANEWAKO, V. B. (2018), “The Relationship between Trade Openness and Economic Growth: The Case of BRICS Countries”, Journal of Global Economics, Vol. 6; 1-5.
Toplam 24 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Makaleler
Yazarlar

Elma Satrovic

Yayımlanma Tarihi 31 Mayıs 2019
Gönderilme Tarihi 3 Aralık 2018
Yayımlandığı Sayı Yıl 2019Cilt: 20 Sayı: 1

Kaynak Göster

APA Satrovic, E. (2019). ENERGY CONSUMPTION, TRADE OPENNESS AND GROWTH NEXUS IN TURKEY: EVIDENCE FROM VECM. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 20(1), 1-12. https://doi.org/10.37880/cumuiibf.491515
 Kapak Resmi İndir

Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.