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  • Küçük Resim
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    Coal consumption and industrial production nexus in USA: Cointegration with two unknown structural breaks and causality approaches
    (PERGAMON-ELSEVIER SCIENCE LTD, 2012) Yildirim, Ertugrul; Aslan, Alper; Öztürk, İlhan
    The paper investigates the causality relationships among industrial production index, coal consumption and employment in industrial sector for the period of 1973:1-2011:10 in USA. After noticing that there are breaks in the regression model, the Hatemi-J test for cointegration is employed to the cases that take into account two possible regime shifts. It is concluded that there is a long run relationship between industrial production and industrial coal consumption with the breaks at 1983:4 and 1998:4. We found a negative relationship between coal consumption and industrial production for the period of 1973:1-1983:4 and positive relationship for 1983:5-1998:4 period. For the last period that covers 1983:5-2011:10, the cointegration relationship turned to negative. In addition, the results show that causal relationship between coal consumption and industrial production changes over time.
  • Küçük Resim
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    Energy consumptıon and gdp ın asean countrıes: bootstrap-corrected panel and tıme serıes causalıty tests
    (World Scıentıfıc Publ Co pte Ltd,, 2014) Yildirim, Ertugrul; Aslan, Alper; Öztürk, İlhan
    This study reexamines the relationship between energy consumption per capita and real GDP per capita for Indonesia, Malaysia, the Philippines, Singapore and Thailand using both panel data causality which is taking into account cross-sectional dependence and heterogeneity among the countries and time series causality tests for the period 1971-2009. The findings indicate that taking into account cross-sectional dependence has a substantial effect on the achieved results. The conservation hypothesis is supported for Indonesia, Malaysia and the Philippines. Although a bidirectional relation is found in the case of Thailand, since there is no positive effect of energy consumption on GDP, the conservation hypothesis is supported. In the pattern of Singapore, the neutrality hypothesis is supported. In addition, the increase in investment and labor force lead to more energy consumption in Indonesia, Malaysia and Thailand.