Identfifying Relationship Between Electricity Consumption, Urbanization, Trade Openness and Economic Growth for OECD Countries
OECD Ülkeleri İçin Elektrik Tüketimi, Kentleşme, Ticaret Açıklık ve Ekonomik Büyüme Arasındaki İlişkinin Belirlenmesi

Author : Sevilay Konya - Zeynep KARAÇOR - Mahmut Sami DURAN
Number of pages : 767-780

Abstract

Economic growth will lead to income growth. The increase in income will also lead to an increase in demand for energy. Because of, electricity consumption, urbanization and trade openness are important factors for in order to increase economic growth. Therefore, It is aimed to investigate the relationship between electricity consumption, urbanization, trade openness and economic growth for the period 1971-2014 in 28 OECD countries. Panel cointegration, FMOLS (Full Modified Ordinary Least Squares), DOLS(Dynamic Ordinary Least Squares) and Dumitrescu-Hurlin causality tests were performed to determine long-term and causal relationships between four variables. Findings from the FMOLS and DOLS estimators showed a positive relationship between long-term electricity consumption, urbanization, trade openness and economic growth. The results of the Dumitrescu and Hurlin causality test show that there is between bidirectional electricity consumption and economic growth, bidirectional between trade openness and economic growth and between unidirectional urbanization and economic growth.

Keywords

Keywords: Electricity Consumption, Causality, Economic Growth.

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