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Econometric Model of Electricity Demand in Turkey as a Measure of Economic Growth and Development by M. Bildirici and T. Bakirtas

Econometric Model of Electricity Demand in Turkey as a Measure of Economic Growth and Development by M. Bildirici and T. Bakirtas

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Melike Bildirici and Tahsin Bakirtas, “Econometric Model of Electricity Demand in Turkey as a Measure of Economic Growth and Development,” This article develops an econometric model of electricity demand in Turkey as a measure of economic growth and development. In this study, the authors use the variables of electricity consumption (per-capita electricity consumption, electricity use in the manufacturing industry, and net electricity consumption) as a measure for both economic growth and development in various models, and then derive a demand curve. While emphasizing the differences of growth and development in electricity consumption, the authors obtain the electricity demand in Turkey and the demand for the industrial sector. For analyses, they use cointegration and vector error correction (VEC) analysis and autoregressive moving average (ARMA) for assumptions to 2015. According to the results obtained from the econometric model, the elasticity in the growth model has been found much higher than that for the development model. Based upon their work, the authors expect that electricity demand will continue to grow at high rates as a natural consequence of industrialization in Turkey, which will require substantial new investments in order to expand the country’s power generation capacity. This article by Melike Bildirici and Tahsin Bakirtas appeared in The Journal of Energy and Development, vol. 33, no. 1.
Melike Bildirici and Tahsin Bakirtas, “Econometric Model of Electricity Demand in Turkey as a Measure of Economic Growth and Development,” This article develops an econometric model of electricity demand in Turkey as a measure of economic growth and development. In this study, the authors use the variables of electricity consumption (per-capita electricity consumption, electricity use in the manufacturing industry, and net electricity consumption) as a measure for both economic growth and development in various models, and then derive a demand curve. While emphasizing the differences of growth and development in electricity consumption, the authors obtain the electricity demand in Turkey and the demand for the industrial sector. For analyses, they use cointegration and vector error correction (VEC) analysis and autoregressive moving average (ARMA) for assumptions to 2015. According to the results obtained from the econometric model, the elasticity in the growth model has been found much higher than that for the development model. Based upon their work, the authors expect that electricity demand will continue to grow at high rates as a natural consequence of industrialization in Turkey, which will require substantial new investments in order to expand the country’s power generation capacity. This article by Melike Bildirici and Tahsin Bakirtas appeared in The Journal of Energy and Development, vol. 33, no. 1.

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11/09/2012

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