Abstract:

Due to various needs, the demand for energy is constantly increasing. It is seen that this rate of increase has increased especially with the Industrial Revolution. With the globalization process, the development of the information-communication sector and technological innovations have increased the value of energy incomparably compared to the past. These increases in energy need can cause serious problems in energy importing countries. In this study, short and long term effects of non-renewable energy, renewable energy, industrialization, energy price and urbanization on energy intensity in energy importing developing economies are investigated. In the sample period of 1990-2018, a panel data set consisting of 13 energy importing emerging market economies is created and empirical estimations are made with PMG, MG and DFE methods. On the other hand, DOLS and FMOLS methods were used to compare both economic and empirical results and for consistency. Empirical results revealed that non-renewable energy use, renewable energy use, industrialization, energy price and urbanization significantly affect energy density in energy-importing emerging economies in the long run. Different findings were found in terms of the dynamics of the variables in the long and short term. This situation is explained by the changing renewable energy use, energy price and urbanization depending on different technological infrastructure in the field of energy in emerging energy importing economies. In the long term, it has been found that the non-renewable energy use that increases the energy density the most in the relevant country group, while the factor that reduces it the most is industrialization. On the other hand, it has been concluded that the use of renewable energy, energy price and urbanization reduce energy intensity.

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