Econometric analysis of energy consumption resources and its impact on economic growth in Turkey

The science of economics can be defined as the science of determining the ways to meet unlimited needs with scarce resources. In this context, despite the constantly increasing usage areas of energy, one of the most important sources of today, its impact on the economy is also of great importance. It is an action meeting issues such as energy production, industrial resource input, export goods and contributes positively to the economy. On the other hand, the impact of energy consumption on economic growth is also a significant issue that requires determination. This study investigates the relationship between energy production, a notable agenda topic, concerning its consumption and economic growth. In this direction, the relationship between these consumption items and economic growth has been analyzed based on the consumption of primary energy resources, coal consumption, oil consumption, water consumption, and renewable energy resources consumption. These annual data cover the years between 1965 and 2019. In the study, nonlinear autoregressive distributed lag models (NARDL) and bound testing approaches, new methods in the time series econometrics literature, are used for the relationship between economic growth and consumption of energy resources. As a result of the analysis, it was found that there was no long-term relationship between coal consumption and renewable energy consumption and economic growth. A long-term relationship was determined between oil consumption and economic growth, and it was concluded increase in water consumption increased economic growth.that the increase in economic growth in the long-term in this relationship increased oil consumption in the Turkish economy. In addition, the existence of a long-term relationship between water consumption and economic growth was determined, and according to this relationship, it was determined that the Keywords: Economic growth, energy consumption, Granger causality, autoregressive distributed lag models, bound testing