Electricity consumption and economic growth in Turkey: an MF-var approach
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This thesis investigates the relationship between monthly electricity consumption, quarterly GDP and quarterly components of GDP using a Mixed Frequency VAR model for Turkey. The empirical evidence reveals that an increase in electricity consumption increases GDP. However, an increase in electricity consumption increases Private Consumption, Investment, Imports expenditures, Construction, Industrial, Manufacturing and Service Sector outputs more than it increases GDP. In addition to this, the empirical evidence reveals that an increase in electricity consumption increases Agricultural sector output less than it increases GDP.
Electricity consumption and mixed frequency vector autoregression model