TÜRKİYE EKONOMİSİNDE YABANCI SERMAYE YATIRIMLARI İLE ENERJİ TÜKETİMİ ARASINDAKİ İLİŞKİ: SİMETRİK/ASİMETRİK NEDENSELLİK ANALİZİ.

This paper explores the symmetric/asymmetric causal linkage between foreign direct investments and energy consumption in Turkey over the period 1975-2015. The unit root properties of variables are tested by the Ng-Perron and Lee-Strazicich unit root techniques. The ARDL bounds test is used to examine the cointegration between the variables. The Toda-Yamamoto and Hacker and Hatemi-J causality tests are used to investigate the symmetric causalit analysis. The Hatemi-J causality approach is applied to explore the asymmetric causal relationship between the variables. Empirical results show that there exists cointegration between the variables in the existence of structural breaks and the presence of symmetric causality running from energy consumption to foreign direct investments. There exists causality from positive foreign direct investment shocks to positive energy consumption shocks. There also exists causality from negative energy consumption shocks to negative foreign direct investment shocks. The findings will present policy implications related to Turkish economy. [ABSTRACT FROM AUTHOR]