A Forecast of the Relation Between Energy and Economic Growth with a Multivariate VAR Approach

Aytac D.

MALIYE DERGISI, no.158, pp.482-495, 2010 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: Issue: 158
  • Publication Date: 2010
  • Journal Name: MALIYE DERGISI
  • Journal Indexes: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Page Numbers: pp.482-495
  • Hacettepe University Affiliated: Yes

Abstract

The relationship between energy and economic growth is an important indicator for giving direction to economic policies. From this point this paper examines the casual relationship between economic growth and energy use for the period 1975-2006 in Turkey. Using Granger causality and multivariate vector autoregression tecchnique, the emprical results indicate that Granger causality is running from energy consumption to labour, and also from capital to economic growth.