The Relationship between Energy Security and Economic Growth: Evidence from Panel of Turkic World Countries
Küçük Resim Yok
Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Ahmet Yesevi Univ
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Energy, which is the most strategic input of the modern world economy, is also an important element of international political competition. Although many studies in the current empirical literature provide evidence for the role of energy in economic growth, there are few studies in the empirical literature on energy security. In this context, it is aimed to make an important contribution to the literature with this study that examines the relationship between energy security and growth in the years 1992 to 2016 with the panel data set consisting of Turkey, Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan, which are among the countries of the Turkic World. The Cross-section dependence has been determined in the data set used in the study, and it has been determined that the variables are stationary at the first difference by the CIPS test, which is one of the econometric methods suitable for this situation. Then, it has been concluded that there is a cointegration relationship between the variables by the panel Durbin-Hausman cointegration test. According to the AMG estimator, a 1% increase in energy security risk reduces economic growth by approximately 0.95%. These results demonstrate that energy security is an important policy issue for the Turkic World countries and emphasizes the importance of policies to be implemented in this direction.
Açıklama
Anahtar Kelimeler
Energy Security, Energy Economy, Energy Geopolitics, Turkic World, Growth, Durbin-Hausman Cointegration, Augmented Mean Group Estimator
Kaynak
Bilig
WoS Q Değeri
Q4
Scopus Q Değeri
Q3
Cilt
Sayı
101
