New Evidence for Determinants of Energy Efficiency: Economic Complexity Index Panel Causality Analysis for European Countries
Aykut Sarkgunesi, Hilal Ogras
article (Uluslararası, Hakemli) | Yazar(lar): Aykut Sarkgunesi, Hilal Ogras | Yıl: 2023 | Dergi/Kurum: MALIYE DERGISI | İndeks: WOS.ESCI | Anahtar Kelimeler: Economic Complexity Index, Energy Efficiency, Panel Causality, Juodis, Karavias and Sarafidis Panel Causality Analysis — Özet: When the theoretical and empirical
When the theoretical and empirical studies that deal with economic complexity index and energy efficiency separately are examined, we have formed our opinion that there may be a causal relationship between the two concepts. The aim of this study is to reveal the causality relationship between energy efficiency and economic complexity also to test the usability of the economic complexity index in studies on energy efficiency. In the study, heterogeneous panel causality method developed by Granger (1969) based Juodis, Karavias, and Sarafidis (2021) was used. As a result of the analysis, it was seen that there is a long-term causality relationship between the two variables. The results obtained will provide a new perspective to the evaluations to be made in terms of energy use in the determination of industrialization and foreign trade policies.