Testing energy consumption of oecd countries panel unit roottests

The aim of this study is to analyze whether the energy consumption of OECD member countries is stable or not, by using annual data between 1965-2017, by using first and second generation panel unit root tests. OECD member countries such as USA, Canada, Mexico, Denmark, Poland, Finland, France, Germany, Greece, Chile, Austria, Belgium, Czech Republic, Hungary, Iceland, Ireland, Italy, Portugal, Slovakia, Luxembourg, Netherlands, Norway, Spain , Sweden, Switzerland, Turkey, Israel, Australia, Japan, the stability of the energy consumption of New Zealand and South Korea have been analyzed. The panel data set used in the application part of the study consists of data covering 31 OECD countries and 53 years vertically. The data set used in econometric analysis was taken from BP Data Bank international data source and annual data were used. Energy consumption variable is calculated in terms of million tons of oil equivalent of energy consumption.