The Effect of Production of Paper and Paper Products and Gross National Product on Electricity Consumption
2019
AKAY, Ozlem
Energy is an important in put for economic and industrial development and an indispensable production input for the continuation of the production process. In a very large part of economic and social life, electrical energy is widely used because of its easy usage and other advantages. The aim of this study is to investigate the effect of the production of paper and paper products and the gross national product, which is an indicator of economic growth, on the consumption of electricity by panel data analysis. For this purpose, a panel data set was established for 20 OECD countries between 2006 and 2016 from Eurostat and Wordbank. Cross-sectional dependence, heteroskedasticity and autocorrelation assumptions were tested for the model and deviations from the assumptions were observed. Parameters were estimated using the Driscoll-Kraay estimators, which are resistant to these deviations. As a result of the analysis, it was found that an increase of 1% in the production of paper and paper products increased the electrical energy consumption by 0.22%, the increase of 1% in the per capita gross domestic product increased approximately 0.62% in electricity consumption.
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