DETERMINANTS OF ENERGY CONSUMPTION IN BRICS-T COUNTRIES: AN ECONOMETRIC ANALYSIS

Basit Öğe Kaydı
dc.contributor.authorDuran, Mahmut Sami
dc.contributor.authorAcar, Mustafa
dc.date.accessioned2024-02-23T14:34:51Z
dc.date.available2024-02-23T14:34:51Z
dc.date.issued2022
dc.departmentNEÜen_US
dc.description.abstractWith the emergence of globalization borders are fading out and econo- mies are getting ever more interdependent with increasing trade volumes. As global population goes up, consumption demand reinforces increases in output. In this regard, energy can be regarded as one of the most critical inputs in the process of development and growth. Accordingly, the process of growth and industrialization has been gradually increasing the dependence of world economies on energy. Energy consumption has been steadily grow- ing with each passing year, hence increasing the dependence on energy even further. This study examines the factors that determine energy consumption. For this purpose, the factors that determine energy consumption in BRICS-T countries (Brazil, Russia, India, China, South Africa, and Turkey) are ana- lyzed for the period of 1992-2018. Foreign direct investments, energy prices and economic growth are taken to be the potential factors determining en- ergy consumption. Error Correction Method (ECM) proposed by Westerland and LM Boostrap cointegration tests suggested by Westerland and Edgerton is used to test the existence of long term relationship between the series. Long term cointegration coefficients have been estimated using Common Correlated Effects Mean Group (CCEMG) estimator and Augmented Mean Group (AMG) estimator. The findings obtained from the analysis confirm that, firstly, all three variables (foreign direct investments, prices of ener- gy, and economic growth) are critical and have a long-term relationship with energy consumption. Secondly, the series of foreign direct investments is significant in all countries subject to our panel data analysis. Economic growth series is only significant for Turkey and China. Energy prices series are found to be significant in Russia, S. Africa, and China.en_US
dc.identifier.doi10.32910/ep.73.5.6
dc.identifier.endpage822en_US
dc.identifier.issn0424-7558
dc.identifier.issn1848-9494
dc.identifier.issue5en_US
dc.identifier.scopusqualityQ4en_US
dc.identifier.startpage796en_US
dc.identifier.urihttps://doi.org/10.32910/ep.73.5.6
dc.identifier.urihttps://hdl.handle.net/20.500.12452/15749
dc.identifier.volume73en_US
dc.identifier.wosWOS:000888089200006en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherHrvatsko Drustvo Ekonomistaen_US
dc.relation.ispartofEkonomski Pregleden_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectEnergy Consumptionen_US
dc.subjectGdpen_US
dc.subjectFdien_US
dc.subjectEnergy Pricesen_US
dc.subjectBrics-T Countriesen_US
dc.titleDETERMINANTS OF ENERGY CONSUMPTION IN BRICS-T COUNTRIES: AN ECONOMETRIC ANALYSISen_US
dc.typeArticleen_US

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