Destek Mehmet Akif, Sarkodie Samuel Asumadu
Gaziantep University, Department of Economics, Gaziantep, Turkey.
Nord University Business School (HHN), Post Box 1490, 8049 Bodø, Norway.
Heliyon. 2020 Feb 8;6(2):e03391. doi: 10.1016/j.heliyon.2020.e03391. eCollection 2020 Feb.
Economic development is characterised by natural resource extraction and consumption. However, due to the finite nature of fossil fuel energy sources and its price shocks, an investigation into its historical fluctuations is essential for energy policy formulation. Against the backdrop, this paper examines the stationary properties of coal, oil and natural gas consumption per capita of 16 Organisation for Economic Co-operation and Development (OECD) countries for the period 1970-2018. The study employs Fourier ADF and Fourier KSS unit root tests for linear and nonlinear series to assess the permanent or transitory shocks in coal, oil, and natural gas consumption. Empirical findings show that coal consumption is stationary for 6 of 16 countries. In contrast, oil consumption is found stationary for 4 of 16 countries while natural gas consumption is found stationary for 5 of 16 countries. These results demonstrate that any shock in oil, coal, and natural gas consumption will be permanent in most of the OECD countries. Thus, finding fossil fuel alternatives like renewable energy sources which are localized rather than internationally tradable, lessens the reliance on fossil fuel imports and the negative impacts of price shocks.
经济发展的特点是自然资源的开采和消耗。然而，由于化石燃料能源的有限性及其价格冲击，对其历史波动进行调查对于能源政策的制定至关重要。在此背景下，本文研究了1970 - 2018年期间16个经济合作与发展组织（OECD）国家的人均煤炭、石油和天然气消费量的平稳性。该研究采用傅里叶ADF和傅里叶KSS单位根检验来分析线性和非线性序列，以评估煤炭、石油和天然气消费中的永久性或暂时性冲击。实证结果表明，16个国家中有6个国家的煤炭消费是平稳的。相比之下，16个国家中有4个国家的石油消费是平稳的，16个国家中有5个国家的天然气消费是平稳的。这些结果表明，在大多数经合组织国家，石油、煤炭和天然气消费的任何冲击都将是永久性的。因此，寻找像可再生能源这样的化石燃料替代品，这些能源是本地化的而非国际可交易的，减少了对化石燃料进口的依赖以及价格冲击的负面影响。
