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    Relationship Between Electricity Consumption and Economic Growth: Time-varying Panel Causality Analysis for OECD Countries
    (Maliye Bakanligi, 2017) Oncel, Abidin; Kirca, Mustafa; Inal, Veysel
    The relationship between energy use and economic growth has attracted researchers' interest more compared to past, especially in oil crises period-1970s. The relationship between two variables is generally assessed with literature in the context of growth hypothesis, conservation hypothesis, feedback hypothesis and neutrality hypothesis. This study using yearly data covering 1990-2011 period examines the relationship between electricity consumption and economic growth (GNP) for 22 OECD countries, by using the varying panel casuality analysis. The results show that, causality runs from electricity consumption to economic growth between 1991-2005 and causality runs from economic growth to electricity consumption between 1995-2009. Therefore, the period between 1995-2005, which is the overlapping period (of the two determined relationships) has feedback hypothesis.