Enerji Tüketimi, Dışa Açıklık ve Ekonomik Büyüme İlişkisi: 28 Avrupa Birliği Ülkesi için Panel Granger Nedensellik Analizi

Bu çalışmada 28 Avrupa Birliği ülkesindeki enerji tüketimi ve ekonomik büyüme arasındaki ilişki araştırılmıştır. Bu amaçla 1996-2013 yılları arasındaki veriler kullanılarak panel eş-bütünleşme, panel Granger nedensellik ve panel vektör hata düzeltme modeli kullanılmıştır. Panel eş-bütünleşme test çıktıları ekonomik büyüme, enerji tüketimi, işgücü, sermaye oluşumu ve dışa açıklık değişkenleri arasında uzun dönemli bir denge olduğunu desteklemiştir. Panel vektör hata düzeltme modelinin kullanılmasından elde edilen sonuçlar kısa dönemde enerji tüketiminden ekonomik büyümeye doğru tek taraflı bir nedensellik bulunduğunu göstermektedir. Enerji tüketimi ile ekonomik büyüme arasında uzun dönemli bir nedensellik bulunmamıştır. Bu sonuçlar Avrupa Birliği ülkelerinin enerjiye bağımlı olduğunu ve bu ülkeler için büyüme hipotezinin geçerli olduğunu göstermektedir. Bu ülkelerde enerji tüketimini kısıtlayıcı politikaların uygulanması sırasında enerji tüketiminin ekonomik büyüme üzerindeki etkilerinin göz önünde bulundurulması gerekmektedir

The Relationship Between Energy Consumption, Trade Openness and Economic Growth: Panel Granger Causality Analysis for EU-28 Countries

This paper aims to investigate the relationship between energy consumption and economic growth in EU-28 countries. For this purpose, we used panel cointegration, panel Granger causality and panel vector error correction model over the period 1996-2013. The outcomes of panel cointegration test support the long-run equilibrium relationship among economic growth, energy consumption, labor force, capital formation and trade openness. The results obtained from panel vector error correction model suggest that there is evidence of a unidirectional causality from energy consumption to economic growth in the short-run. A long-run causality is not found between energy consumption and economic growth. These results indicate that the EU-28 countries are energy-dependent countries and the growth hypothesis is valid for EU-28 countries. Policy makers in EU-28 countries should consider the impact of energy consumption on growth while employing conservative energy policies

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