Energy Consumption, Economic Growth, Financial Development and Trade Openness in Turkey: Maki Cointegration Test

Mehmet Destek

Bulletin of Energy Economics (BEE), 2015, vol. 3, issue 4, 162-168

Abstract: This paper investigates the relationship between energy consumption, economic growth, energy prices, financial development and trade openness in Turkey for 1960-2011. The Maki cointegration test under multiple structural breaks and VECM Granger causality test are employed to determine cointegration and causality relations. The results reveal that economic growth and trade openness positively, financial development and energy prices negatively affect energy consumption in the long-run. The bidirectional causality exists between energy consumption and economic growth and financial development causes energy consumption for the long-run in Turkey.

Keywords: Energy; Growth; Finance; Trade (search for similar items in EconPapers)
JEL-codes: F1 P33 Q4 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:ijr:beejor:v:3:y:2015:i:4:p:162-168

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