Energy Policy Issues in Turkey: Renewable Energy Production and Economic Growth Nexus

Dilek Temiz Dinç, Aytaç Gökmen and Zehra Burçin Kanık
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Dilek Temiz Dinç: Çankaya University, Ankara, Turkey
Aytaç Gökmen: Department of International Trade, Çankaya University, Ankara, Turkey
Zehra Burçin Kanık: Çankaya University, Ankara, Turkey

International Journal of Sustainable Economies Management (IJSEM), 2017, vol. 6, issue 3, 50-65

Abstract: Energy is the source of development of the mankind and an indispensable input for economic growth. Currently, most of the energy consumed in the world is composed of fossil fuels which are not environmentally friendly and reliable since their prices are volatile and their supply compels importing countries dependent on energy exporting countries. Thus, a good remedy to reduce fossil fuel dependency is to utilize more renewable energy resources. Renewable resources can be replenished quickly, are almost infinite and would lead a country to sustainable development. The Republic of Turkey is a net importer of energy. The diversification of energy sources and supply security is of great importance for it. Thus, the objective of this study is to analyze the relationship between renewable energy production and economic growth in Turkey by using Johansen Cointegration Test, Vector Error Correction Model (VECM), Granger Causality Test and the Augmented Dickey-Fuller Test (ADF). Consequently, both long run and short run a casualty running from GDP growth to renewable energy production is determined in the study.

Date: 2017
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