Abstract:

The study emphasized the conceptual framework of natural gas, the commercial importance, the relationship between natural gas consumption and economic growth. The relationship between natural gas consumption and economic growth in the countries located in Turkey and the Hazard Bay has been aimed at exploring the relationship between natural gas consumption and economic growth by incorporating the variables such as non-clean domestic yield, natural gas consumption, capital and labour by modeling. In the study of 1997-2017 World Bank’s Economic Development Indicators and BP Energy Statistics Report’s annual data, Pairwise Dumitrescu Hurlin Panel Causability Test was applied to determine the causality relationship between the variables included in the analysis. The test resulted in a two-way Granger causal relationship between the natural gas consumption and the real non-clean domestic revenue, which was the main subject of the study. In light of the findings obtained in the analysis, policy makers are important to make economic decisions, to ensure efficiency and sustainability in the economy.

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