Determinants of Energy Consumption in Turkey: Innovation and Foreign Direct Investment

Authors : Hilal Ok Ergün, Tolga Ergün

Pages : 1029-1041

View : 80 | Download : 49

Publication Date : 2023-09-29

Article Type : Research

Abstract :In this study, it is purposed to investigate the determining factors of energy consumption in Turkey between the years 1995-2019. Accordingly, the role of foreign direct invesment (FDI) and innovation in energy consumption has been examined using the least squares estimation method. The multiple regression model was used in the study, and total energy consumption was used as the dependent variable, while the ratio of FDI to gross domestic product and the total number of patent applications were used as independent variables in the model. Annual data from OECD statistics and the World Bank were utilised in the study. Consequentially, it is determined that FDI and patent applications have a statistically significant and positive effect on energy consumption in analysis. The results of the study indicate that FDI and innovative activities are the determinants of energy consumption.
Keywords : Enerji, Doğrudan Yabancı Sermaye Yatırımları, İnovasyon, En Küçük Kareler Yöntemi