Enerji ve ekonomik büyüme ilişkisi: Avrupa Birliği 15 ülkesi üzerine ampirik bir değerlendirme
Özet
Many countries need energy for economic development and growth . Thus, it is vital to secure enough energy resources to sustain economic growth.Current level of European Union?s economic growth results in higher demand for energy. Moreover, the lack of enough energy resources within EU leads the Union to import most of its needed energy from nonmember states. The dependency to outside suppliers puts restrains on EU?s both energy supply and demand management policies. In the light of aforementioned points, it is very important to investigate into the effects of energy use on economic growth so as to evaluate energy demand and supply side policies.In this study, general nature of energy industry in EU reviewed under subtitles of production, consumption and importation categories. Furthermore, the effect of energy use on economic growth is analyzed for panel of 15 EU countries by using Neo-classical Aggregate Production Model where capital, labor and energy are treated separate inputs. Our empirical study indicated that the more energy use leads to more economic growth. Consequently, the analysis for panel as whole suggests that energy can be considered as limiting factor for economic growth in those countries