Determinants of Energy Supply Security: An Econometric Analysis For Turkey

Energy is a major input for almost all goods and services sectors; a critical foundation for economic growth and social progress. Along with social progress and economic development, energy demand is continuously increasing. Therefore, energy supply security, which means providing uninterruptible energy supply, is of vital importance for sustainable economic development. The study sheds light on concept and indicators of energy security. First We, defined the concept of energy supply security. After providing a brief literature survey on energy security, we try to investigate the main determinants of energy supply security. Accessibility, availability, affordability and acceptability are the main dimensions of energy supply security. Four indices are constructed to measure energy supply security: Import Dependency Index, Intensity Index, Domestic Production Index and Composite Index. Following a literature survey of the main determinants of supply security, and with the availability of data, an ad hoc model is formed and estimated by a Granger Causality Test and a Johansen Cointegration Analysis for the period 1970-2009 for Turkey.