Do Energy Prices and Industrialization Affect Energy Intensity? The Case of Turkey Under Structural Breaks
Journal: Bingol University Journal of Economics and Administrative Sciences (Vol.6, No. 1)Publication Date: 2022-08-29
Authors : Mustafa NAİMOĞLU Sefa ÖZBEK;
Page : 275-294
Keywords : Energy Intensity; Industrialization; Energy Prices; Economic Growth; Turkey;
Abstract
This study differs from other studies with the research of the energy density of Turkey, which imports more than half of its energy demand. While GDP per capita in Turkey increased by 347% in 2019 compared to 1968, energy consumption per capita increased by 324% in parallel with this. In other words, efficient use of energy in Turkey continues to be a big problem despite technological developments. Therefore, it is considered important to reduce energy intensity in Turkey, which is dependent on foreign energy. In this study, the relationship between GDP per capita, industrialization and energy prices, and energy intensity in the 1968-2019 period in the Turkish economy is investigated. The unit root process was determined by Perron (1989) and Zivot and Andrews (1992) tests, which allow structural breaks as an empirical method, and Gregory and Hansen (1996), a structural break cointegration test, was used. Empirical findings have shown that there is a long-term relationship between the variables. The Fully Modified Least Squares Method (FMOLS) estimator was used as the cointegration estimator. According to the cointegration estimation results, the increase in economic growth and energy price increases reduces energy intensity. However, higher industrialization leads to more intensive use of energy.
Other Latest Articles
- A review and methodological analysis of cardiovascular disease prediction and detection
- Finansal Kriz Döneminde Firmaların Nakit Akış Profilleri ile Finansal Performanslarının Karşılaştırılması: BIST’te Bir Araştırma
- Finansal Sağlamlığın Maden Firmalarının Finansal Performansları Üzerine Etkisi: Türkiye ve BRICS Ülkeleri Üzerine Uygulama
- Avrupa’daki Sivil Toplum Kuruluşlarında Görevli Türk Kökenli Göçmenlerin Örgütsel Özdeşleşme Eğilimleri ile Sosyal Girişimcilik Özellikleri Arasındaki İlişki
Last modified: 2022-10-03 21:19:41