Özet:

One of the important parameters that indicate the level of development of countries is energy consumption. More energy is consumed in developing countries. In this context, countries with high energy needs are addressing to different alternative energy sources in order to not be externally dependent. This study analyzed the relationship between the consumption and economic growth of various types of energy belonging to 36 OECD countries with the Westerlund (2007) panel integration test. Before the integration test, the heterogenity of the data was tested, various horizontal cutting dependency tests were applied to the data, and the dependency of the horizontal cuts that form the panel was studied. In addition, the CIPS test also determines whether the data is stable. According to LM, LMadj and CDLM statistics (p<0.05) the horizontal cutting dependency has been determined. Thus, it was decided that the second generation unit root tests would be suitable for use. The CIPS test found that the variables were not stable. The first differences of non-stop data at the level have been taken to the data again and the statistical analysis has been applied and the data has been made stable. The results show that there is a combination between energy consumption and economic growth. The long-term integration test also found that there was a positive relationship between hydroelectric and renewable energy consumption and economic growth, and a negative relationship between thermal energy consumption and economic growth.

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