Analysis of the Relationship between Energy Resources Consumption and Economic Growth in Turkey

Abstract

Everything in the world is provided with an energy, and energy and its use are the most important resources for meeting the basic needs of humankind, which are indispensable for protecting, maintaining and raising the standard of living, since the first day of human existence on earth. In this context, a life without energy is unthinkable. The Turkish nation living on the Anatolian geography, which is in a very valuable and geostrategic place on the planet Earth, has very important and very valuable minerals and minerals. Strateko the 21st century (strategic and economic) role to play in the future of Turkey, which is a producer of boron minerals are indisputable size. The strategic, technological and economic importance of boron in the world is increasing day by day. The most important boron reserves having 72.3% of the world's boron reserves are in the western part of Turkey. Industrialization has a very important strategic role in the economic development and growth of countries. Countries are in great need of energy, mines and raw materials for industrialization. Nowadays, along with industrialization and technological developments, new types of production models as well as new types of products and advanced technological tools are used in the production process.

World energy consumption demand was realized as 13,760 million tons of oil equivalent (MTEP) as of the end of 2016. Approximately 19% of the energy consumption demand was consumed by North American countries, 14% by European countries, and 41% was consumed by Asia-Pacific countries. As of the end of 2016, 87% of the energy consumed in the world consists of fossil resources. In 2015, 42% of the world's total primary energy demand was used for electricity generation. Another precious metal of ours is "Thorium". Thorium was first discovered in 1828 by the Norwegian mineralogist Morten Thrane Esmark, but it was identified by the Swedish chemist Jons Jacob Berzelius and took its place in the periodic table. The element is named after Thor, who is accepted as the god of war in mythology. Thorium reserves are several hundred times higher than the world's uranium reserves. This shows the strategic importance of thorium in terms of energy production. There are sufficient thorium reserves in the world to meet the energy needs of humanity for thousands of years.

Energy sources can be divided into two according to their reusability. According to the said separation, resources are classified as renewable and non-renewable resources. Raw materials and natural resources are also included in the scope of (K) physical capital, which is included in the Cobb-Douglas production function. The (K) factor is important in the increase in production and acceleration of growth. Note that as (K) decreases, production decreases. When the relationship between the consumption of energy resources and economic growth is examined empirically, it is seen that empirical studies conducted in different countries, at different periods, using different methods have produced quite different results. Since there is no consensus in the results of empirical studies on the direction of the causality relationship between consumption of energy resources and economic growth, different perspective explanations are encountered in the literature. In order to explain these differences, four important theories have been developed which are explained below. These theories; "Growth", "protection", "neutrality" and "feedback" theories.

            There is a Granger causality relationship between energy resource types and GNP. A one-way positive relationship has been determined from GNP to boron mine, electrical energy, oil, stone coal. It is possible to state the interpretation of the term slope and its effects as follows; * One unit increase in Boron Mine (with its logarithm) increases the GNP (with its logarithm) by 1.45 (when other variables are fixed). * One unit increase in Electrical Energy (whose logarithm is taken) increases the GNP (with its logarithm) by 2.63 (when the other variables are fixed). * One unit increase in the Hard Coal Mine (whose logarithm is taken) increases the GNP (with the logarithm) by 6,237 (when the other variables are fixed). * One unit increase in Lignite Coal Quantity (logarithm taken) raises GNP (logarithm taken) by 1.60 (other variables fixed). * One unit increase in Economic Growth Rate (logarithm taken) increases GNP (logarithm taken) by 6.99 (while other variables are constant). * One unit increase in the amount of oil (with its logarithm) increases the GNP (with its logarithm) by 1.54 (while the other variables are constant).