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The Relationship Between Biomass Energy Consumption and Economic Growth in D-8 Countries

Year 2018, Volume: 6 Issue: 3, 371 - 377, 11.04.2018
https://doi.org/10.18506/anemon.373532

Abstract

In the
study, in the period of 1980-2013, the relationship between biomass energy
consumption and economic growth in D-8 countries (Developing Eight Countries)
is discussed. Panel unit root, cointegration and causality tests are used to
analyze whether there is a long-term relationship between the series. As a
result of these analyzes, it seems that there is a long-term relationship
between the variables. The cointegrated series are then estimated by OLS, DOLS
and FMOLS estimators and then impulse-response analysis is performed. According
to the obtained analysis results, a one-way causality relationship occurs from
biomass energy consumption to economic growth. In addition, there is a
long-term positive and statistically significant relationship between biomass
energy consumption and economic growth. In this context, it is seen that
governments' investment and projects towards biomass energy use will affect
economic growth positively.   

References

  • Altinay, G., & Karagol, E. (2004). Structural break, unit root, and the causality between energy consumption and GDP in Turkey. Energy Economics, 26(6), 985-994. http://dx.doi.org/10.1016/j.eneco.2004.07.001
  • Apergis, N., & Payne, J. E. (2010). Energy consumption and growth in South America: Evidence from a panel error correction model. Energy Economics, 32(6), 1421-1426. http://dx.doi.org/10.1016/j.eneco.2010.04.006
  • Aslan, A. (2016). The causal relationship between biomass energy use and economic growth in the United States. Renewable and Sustainable Energy Reviews, 57, 362–366.
  • Aydın, C., & Esen, O. (2016). Threshold effects of energy consumption on economic growth in Turkey. Journal of Environmental Management and Tourism, 7(3), 370-382. http://dx.doi.org/10.14505/jemt.v7.3(15).02
  • Aydın, C., & Esen, Ö. (2017). Does Too Much Energy Consumption Harm Economic Growth for Turkish Republics in The Transition Process? New Evidence on Threshold Effects. International Journal of Energy Economics and Policy, 7(2), 34-43.
  • Aydın, F.F. (2013). CO2 emissions, renewable energy consumption, population density and economic growth in G7 countries. The Journal of Knowledge Economy & Knowledge Management, VIII(II), 89-104.
  • Bhattacharya, M., Paramati, S.R., Ozturk, İ., & Bhattacharya, S. (2016). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries. Applied Energy, 162, 733-741.
  • Bildirici, M. (2014). Relationship between biomass energy and economic growth in transition countries: panel ARDL approach. GCB Bioenergy, 6(6), 717–726.
  • Bildirici, M. (2016). Biomass energy consumption and economic growth: ARDL analysis, Energy Sources, Part B: Economics, Planning, and Policy, 11 (6), 562-568.
  • Bildirici, M., & Özaksoy, F. (2016). Woody biomass energy consumption and economic growth in Sub-Saharan Africa. Procedia Economics and Finance, 38, 287–293.
  • Bilgili, F., & Özturk, İ. (2015). Biomass energy and economic growth nexus in G7 countries: Evidence from dynamic panel data. Renewable and Sustainable Energy Reviews, 49, 132-138.
  • Breitung, J. (2000). The local power of some unit root tests for panel data. In Nonstationary Panels, Panel Cointegration, and Dynamic Panels. Baltagi B. (ed.). Advances in Econometrics 15 Amsterdam: JAI Press; 161–178.
  • Dış İşleri Bakanlığı (2018). Gelişen Sekiz Ülke (D-8). (Erişim Tarihi: 10.02.2018), http://www.mfa.gov.tr/ gelisen-sekiz-ulke-_d-8_.tr.mfa
  • Dumitrescu, E.I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29 (4), 1450-1460.
  • Esen, Ö., & Bayrak, M. (2017). Does more energy consumption support economic growth in net energy-importing countries?. Journal of Economics, Finance and Administrative Science, 22(42), 75-98. https://doi.org/10.1108/JEFAS-01-2017-0015
  • Herrerias, M. J., Joyeux, R., & Girardin, E. (2013). Short-and long-run causality between energy consumption and economic growth: Evidence across regions in China. Applied Energy, 112, 1483-1492.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of econometrics, 108(1), 1-24.
  • Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and statistics, 61(S1), 631-652
  • Menegaki, A. N., & Tugcu, C. T. (2017). Energy consumption and Sustainable Economic Welfare in G7 countries; A comparison with the conventional nexus. Renewable and Sustainable Energy Reviews, 69, 892-901.
  • Menegaki, A.N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 3(2), 257-263.
  • Özşahin, Ş., Mucuk, M., & Gerçeker, M. (2016). Yenilenebilir enerji ve ekonomik büyüme arasındaki ilişki: BRICS-T ülkeleri üzerine Panel ARDL analizi. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 4 (4), 111-130.
  • Payne, J.E. (2011). On biomass energy consumption and real output in the US. Energy Sources, Part B: Economics, Planning, and Policy, 6(1), 47-52.
  • Sadorsky, P. (2009). Renewable energy consumption and income in emerging economies. Energy Policy, 37 (10), 4021–4028.
  • Shahbaz, M., Rasool, G., Ahmed, K., & Mahalik, M. K. (2016). Considering the effect of biomass energy consumption on economic growth: Fresh evidence from BRICS region. Renewable and Sustainable Energy Reviews, 60, 1442-1450.
  • Soytas, U., & Sari, R. (2003). Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Economics, 25(1), 33-37. https://doi.org/10.1016/S0140-9883(02)00009-9
  • Stern, D. I. (2000). Multivariate Cointegration Analysis of the Role of Energy in the US Macroeconomy. Energy Economics, 22(2), 267–283. http://dx.doi.org/10.1016/S0140-9883(99)00028-6
  • Yenilenebilir Enerji Genel Müdürlüğü (2017). Biyokütle Enerjisi Nedir?. (Erişim Tarihi: 15.02.2017), http://www.eie.gov.tr/yenilenebilir/biyokutle_enerjisi.aspx

D-8 Ülkelerinde Biyokütle Enerjisi Tüketimi ile Ekonomik Büyüme Arasındaki İlişki

Year 2018, Volume: 6 Issue: 3, 371 - 377, 11.04.2018
https://doi.org/10.18506/anemon.373532

Abstract

Çalışmada,
1980-2013 yılları arasında D-8 ülkeleri (Gelişen Sekiz Ülke) için biyokütle
enerji tüketimi ile ekonomik büyüme arasındaki ilişki ele alınmaktadır. Seriler
arasında uzun dönem ilişkisi olup olmadığını analiz etmek için panel birim kök,
eşbütünleşme ve nedensellik testleri kullanılmaktadır. Bu analizlerin sonucunda
değişkenler arasında uzun dönemli bir ilişkinin olduğu görülmektedir. Ardından
eşbütünleşik seriler OLS, DOLS ve FMOLS tahmincileri ile tahmin edilmekte ve
daha sonra etki-tepki analizi yapılmaktadır. Elde edilen analiz sonuçlarına
göre,  biyokütle enerji tüketiminden
ekonomik büyümeye doğru tek yönlü bir nedensellik ilişkisi ortaya çıkmaktadır.
Ayrıca, biyokütle enerji tüketimi ile ekonomik büyüme arasında uzun dönemde
pozitif ve istatistiksel olarak anlamlı bir ilişki bulunmaktadır. Bu bağlamda,
hükümetlerin biyokütle enerji kullanımına dönük yapılacak yatırım ve
projelerinin ekonomik büyümeyi olumlu yönde etkileyeceği görülmektedir.

References

  • Altinay, G., & Karagol, E. (2004). Structural break, unit root, and the causality between energy consumption and GDP in Turkey. Energy Economics, 26(6), 985-994. http://dx.doi.org/10.1016/j.eneco.2004.07.001
  • Apergis, N., & Payne, J. E. (2010). Energy consumption and growth in South America: Evidence from a panel error correction model. Energy Economics, 32(6), 1421-1426. http://dx.doi.org/10.1016/j.eneco.2010.04.006
  • Aslan, A. (2016). The causal relationship between biomass energy use and economic growth in the United States. Renewable and Sustainable Energy Reviews, 57, 362–366.
  • Aydın, C., & Esen, O. (2016). Threshold effects of energy consumption on economic growth in Turkey. Journal of Environmental Management and Tourism, 7(3), 370-382. http://dx.doi.org/10.14505/jemt.v7.3(15).02
  • Aydın, C., & Esen, Ö. (2017). Does Too Much Energy Consumption Harm Economic Growth for Turkish Republics in The Transition Process? New Evidence on Threshold Effects. International Journal of Energy Economics and Policy, 7(2), 34-43.
  • Aydın, F.F. (2013). CO2 emissions, renewable energy consumption, population density and economic growth in G7 countries. The Journal of Knowledge Economy & Knowledge Management, VIII(II), 89-104.
  • Bhattacharya, M., Paramati, S.R., Ozturk, İ., & Bhattacharya, S. (2016). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries. Applied Energy, 162, 733-741.
  • Bildirici, M. (2014). Relationship between biomass energy and economic growth in transition countries: panel ARDL approach. GCB Bioenergy, 6(6), 717–726.
  • Bildirici, M. (2016). Biomass energy consumption and economic growth: ARDL analysis, Energy Sources, Part B: Economics, Planning, and Policy, 11 (6), 562-568.
  • Bildirici, M., & Özaksoy, F. (2016). Woody biomass energy consumption and economic growth in Sub-Saharan Africa. Procedia Economics and Finance, 38, 287–293.
  • Bilgili, F., & Özturk, İ. (2015). Biomass energy and economic growth nexus in G7 countries: Evidence from dynamic panel data. Renewable and Sustainable Energy Reviews, 49, 132-138.
  • Breitung, J. (2000). The local power of some unit root tests for panel data. In Nonstationary Panels, Panel Cointegration, and Dynamic Panels. Baltagi B. (ed.). Advances in Econometrics 15 Amsterdam: JAI Press; 161–178.
  • Dış İşleri Bakanlığı (2018). Gelişen Sekiz Ülke (D-8). (Erişim Tarihi: 10.02.2018), http://www.mfa.gov.tr/ gelisen-sekiz-ulke-_d-8_.tr.mfa
  • Dumitrescu, E.I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29 (4), 1450-1460.
  • Esen, Ö., & Bayrak, M. (2017). Does more energy consumption support economic growth in net energy-importing countries?. Journal of Economics, Finance and Administrative Science, 22(42), 75-98. https://doi.org/10.1108/JEFAS-01-2017-0015
  • Herrerias, M. J., Joyeux, R., & Girardin, E. (2013). Short-and long-run causality between energy consumption and economic growth: Evidence across regions in China. Applied Energy, 112, 1483-1492.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of econometrics, 108(1), 1-24.
  • Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and statistics, 61(S1), 631-652
  • Menegaki, A. N., & Tugcu, C. T. (2017). Energy consumption and Sustainable Economic Welfare in G7 countries; A comparison with the conventional nexus. Renewable and Sustainable Energy Reviews, 69, 892-901.
  • Menegaki, A.N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 3(2), 257-263.
  • Özşahin, Ş., Mucuk, M., & Gerçeker, M. (2016). Yenilenebilir enerji ve ekonomik büyüme arasındaki ilişki: BRICS-T ülkeleri üzerine Panel ARDL analizi. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 4 (4), 111-130.
  • Payne, J.E. (2011). On biomass energy consumption and real output in the US. Energy Sources, Part B: Economics, Planning, and Policy, 6(1), 47-52.
  • Sadorsky, P. (2009). Renewable energy consumption and income in emerging economies. Energy Policy, 37 (10), 4021–4028.
  • Shahbaz, M., Rasool, G., Ahmed, K., & Mahalik, M. K. (2016). Considering the effect of biomass energy consumption on economic growth: Fresh evidence from BRICS region. Renewable and Sustainable Energy Reviews, 60, 1442-1450.
  • Soytas, U., & Sari, R. (2003). Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Economics, 25(1), 33-37. https://doi.org/10.1016/S0140-9883(02)00009-9
  • Stern, D. I. (2000). Multivariate Cointegration Analysis of the Role of Energy in the US Macroeconomy. Energy Economics, 22(2), 267–283. http://dx.doi.org/10.1016/S0140-9883(99)00028-6
  • Yenilenebilir Enerji Genel Müdürlüğü (2017). Biyokütle Enerjisi Nedir?. (Erişim Tarihi: 15.02.2017), http://www.eie.gov.tr/yenilenebilir/biyokutle_enerjisi.aspx
There are 28 citations in total.

Details

Primary Language Turkish
Journal Section Research Article
Authors

Fatma Fehime Aydın 0000-0002-7026-6889

Publication Date April 11, 2018
Acceptance Date February 19, 2018
Published in Issue Year 2018 Volume: 6 Issue: 3

Cite

APA Aydın, F. F. (2018). D-8 Ülkelerinde Biyokütle Enerjisi Tüketimi ile Ekonomik Büyüme Arasındaki İlişki. Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, 6(3), 371-377. https://doi.org/10.18506/anemon.373532

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