The relationship between nuclear energy consumption and economic performance: Panel data analysis

Understanding the relationship between nuclear energy consumption and economic growth, which has attracted the attention of policy-makers and researchers, is crucial in the understanding of sustainable development. The study aims to investigate the relationship between nuclear energy consumption and economic growth in 11 countries (Germany, America, China, France, South Korea, India, England, Japan, Canada, Russia, Ukraine) that are in the top ranks in the world in nuclear energy consumption. For this purpose, Pooled Average Group Estimator (PMGE), Average Group Estimator (MGE) and Dynamic Constant Effects (DFE) methods were used by using normalized annual data for the period 1997-2017 compiled from World Bank Development Indicators and BP World Energy Statistics Reports. As a result of the econometric analysis conducted through the Stata program, it has been concluded that nuclear energy consumption does not have an impact on economic performance in the short term, whereas nuclear energy consumption in other countries, except Japan, has an impact on economic performance in the long term. In the panel data method, it will be important for economic performance and efficiency to be followed by policy decision makers considering the findings from the analysis provided for each country separately.