Abstract
Analysis of the Relations Between Oil Consumption used for Electricity Generation, Renewable Energy Use and Economic Growth in Turkey
This study aims to analyze the relations between oil consumption used for electricity
generation, renewable energy consumption and economic growth in Turkey between
1985-2017. The relationships between the variables were analyzed using Johansen
cointegration and Granger causality tests. The structural breaks detected are also
included in the model. According to the test results, it was found that there was a
cointegration relationship between the variables. According to the test results causality and impulse-response, economic growth negatively affects oil consumption and oil
consumption negatively affects economic growth. In addition, the use of renewable energy
positively affects economic growth, while the use of renewable energy negatively affects
oil consumption.
Keywords
Oil Consumption, Renewable Energy, Economic Growth, Johansen Cointegration Tests, Granger Causality
