The Influence of FDI on Energy Consumption in Developing and Developed Countries: A Dynamic Panel Data Approach

Although FDI is a source of financing in both developed and developing countries, it is also known as a source of innovation that could reduce the demand for energy. Thus, recent studies have started to focus on isolating the effect of FDI on energy consumption in the host country. However, the debate so far is inconclusive. The main objective of this study is to measure the effect of FDI on renewable and non-renewable energy consumption in 85 developed and developing countries from 2002 to 2014, employing a dynamic panel data method. The study demonstrated that FDI reduces energy consumption in developed countries but has no effect on energy consumption in developing countries. The study confirmed that the openness index and energy prices also explain energy consumption within developed countries.

DYY’ların Gelişmekte ve Gelişmiş Ülkelerde’ ki Enerji Tüketimi Üzerindeki Etkisi: Dinamik Panel Veri Analizi

Doğrudan Yabancı Yatırımlar (DYY) gelişmiş ve gelişmekte olan ülkeler için sermaye finansman kaynağı olarak görünse de aynı zamanda enerji ihtiyacını azaltan teknoloji kaynağı olarak bilinmektedir. Dolayısı ile son zamanlardaki çalışmalar ev sahibi ülkedeki DYY ile enerji tüketimi arasındaki ilişkiyi bulmaya odaklanmıştır. Buna rağmen tartışma halen sonuçsuzdur. Bu çalışmanın amacı dinamik panel veri analizini kullanarak DYY’ların yenilenebilir ve yenilenemez enerji tüketimi üzerindeki etkilerini 85 gelişmiş ve gelişmekte olan ülkeler için 2002’den 2014 ‘e kadarki dönem için incelemektir. Çalışma, DYY’ların gelişmiş ülkelerdeki enerji tüketimini azaltıcı etkisini saptamış buna rağmen gelişmekte olan ülkelerdeki enerji tüketimi üzerinde herhangi bir etkisini bulamamıştır. Çalışma, dışa açıklık indeksi ve enerji fiyatlarının gelişmiş ülkelerdeki enerji tüketimi üzerinde açıklayıcı etkilerini desteklemektedir.

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