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ECONOMIC GROWTH AND ENERGY CONSUMPTION IN TURKEY AND ITALY: A FREQUENCY DOMAIN CAUSALITY ANALYSIS

Journal Name:

  • Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Publication Year:

  • 2016

Key Words:

Keywords (Original Language):

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Abstract (2. Language): 
This paper tests the causality relationship existing between electrical power consumption and economic growth in Turkey and Italy by employing a Frequency Domain Causality approach over the period of 1961-2012. The two countries represent a very interesting case-study, since Turkey is an important bridge and outlet for transporting oil and natural gas from Central-Asia to world markets. Italy, however, is one of the least energy intensive countries in the world, mainly due to the high level of taxation in the domestic energy market, which is employed to promote energy efficiency and to reduce energy imports. Previous works, which have analysed the income-energy demand nexus in the two countries separately, have achieved mixed and inconsistent results about the direction of the causality. Our findings show a lack of any causality relationship in short term from electricity consumption to economic growth in Turkey, despite the existence of a significant causality relationship from economic growth to electricity consumption in the long run. While in Italy, electricity consumption seems to cause economic growth in the short, medium and long terms.
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Abstract (Original Language): 
Bu çalışmada, Türkiye ve İtalya’da elektrik tüketimi ve ekonomik büyüme arasındaki ilişki frekans alanı nedensellik yaklaşımı ile 1961-2012 dönemi için test edilmiştir. Bu iki ülke çok ilginç bir örnek çalışmayı temsil etmektedir. Çünkü, Türkiye Merkez-Asya ve dünya piyasalarına petrol ve doğal gaz taşımacılığında önemli bir köprü görevi görmektedir. Buna karşın İtalya ise, enerji verimliliğini teşvik etmek ve enerji yoğunluğunu azaltmak için iç enerji piyasasında oldukça yüksek düzeyde vergilendirmeye sahip olan dünyanın enerji yoğunluğu en düşük olan ülkelerinden birisidir. İki ülkede hasıla ile enerji talebi bağlantısı önceki çalışmalarda ayrı ayrı incelenmiş ve nedenselliğin yönü hakkında karışık ve tutarsız sonuçlar elde edilmiştir. Çalışmadan elde edilen bulgular, Türkiye’de uzun dönemde çok önemli bir nedensellik ilişkisi sözkonusu olmasına rağmen, kısa dönemde elektrik tüketiminden ekonomik büyümeye doğru bir nedenselliğin olmadığına işaret etmektedir. İtalya’da ise, elektrik tüketimi, kısa, orta ve uzun vadede ekonomik büyümeye neden olmaktadır.
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  • Turkish

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