electricity consumption and economic growth in south africa a trivariate causality test abstract in this paper we examine the causal relationship between electricity consumption and economic growth in south africa we incorporate the employment rate as an intermittent variable in the bivariate model between electricity consumption and economic growth thereby creating a simple trivariate causality framework our empirical results show that there is a distinct bidirectional causality between electricity consumption and economic growth in south africa in addition the results show that employment in south africa granger causes economic growth the results apply irrespective of whether the causality is estimated in the short run or in the long run formulation the study therefore recommends that policies geared towards the expansion of the electricity infrastructure should be intensified in south africa in order to cope with the increasing demand exerted by the country s strong economic growth and rapid industrialisation programme this will certainly enable the country to avoid unprecedented power outages similar to those experienced in the country in mid january 2008

energy consumption and economic growth nexus in tanzania an ardl bounds testing approach abstract in this paper we examine the intertemporal causal relationship between energy consumption and economic growth in tanzania during the period of 1971 2006 unlike the majority of the previous studies we employ the newly developed autoregressive distributed lag ardl bounds testing approach by pesaran et al 2001 bounds testing approaches to the analysis of level relationships journal of applied econometrics 16 289 326 to examine this linkage we also use two proxies of energy consumption namely total energy consumption per capita and electricity consumption per capita the results of the bounds test show that there is a stable long run relationship between each of the proxies of energy consumption and economic growth the results of the causality test on the other hand show that there is a unidirectional causal flow from total energy consumption to economic growth and a prima facie causal flow from electricity consumption to economic growth overall the study finds that energy consumption spurs economic growth in tanzania

on electricity consumption and economic growth in china abstract the invention and application of the electric power technology triggered the second industrial revolution in human history which marked the human society entered the age of electricity electricity provides the sustainable power for economic and social development with the rapid development of economy the electricity consumption is also increasing the increase of electricity consumption has further promoted the progress of the industrial economy in order to achieve the goal of improving the level of economic development while reducing energy consumption it is necessary to reveal the relationship between electricity consumption and economic growth this study is an extensive overview of the literature surrounding this topic in this paper we focus on the relationship between electricity consumption and economic growth in china we first analyze the general situation of china s electricity consumption and economic development then we explore the relationship between china s electricity consumption and economic growth from three dimensions i e the time dimension the regional dimension and the industrial dimension finally we study the key issues in the research of the relationship between electricity consumption and economic growth including variable selection model construction and results discussion this work suggests that the nature of the nexus in china should and can be explored from a wider perspective by developing a suitable integrated methodological framework

energy consumption and gdp in developing countries a cointegrated panel analysis in this paper we re investigate the co movement and the causality relationship between energy consumption and gdp in 18 developing countries using data for the period 1975 to 2001 recently developed tests for the panel unit root heterogeneous panel cointegration and panel based error correction models are employed the empirical results provide clear support of a long run cointegration relationship after allowing for the heterogeneous country effect the long run relationship is estimated using a full modified ols the evidence shows that long run and short run causalities run from energy consumption to gdp but not vice versa this result indicates that energy conservation may harm economic growth in developing countries regardless of being transitory or permanent

co2 emissions energy consumption and economic growth in bric countries abstract this paper examines dynamic causal relationships between pollutant emissions energy consumption and output for a panel of bric countries over the period 1971 2005 except for russia 1990 2005 in long run equilibrium energy consumption has a positive and statistically significant impact on emissions while real output exhibits the inverted u shape pattern associated with the environmental kuznets curve ekc hypothesis with the threshold income of 5 393 in logarithms in the short term changes in emissions are driven mostly by the error correction term and short term energy consumption shocks as opposed to short term output shocks for each country short term deviations from the long term equilibrium take from 0 770 years russia to 5 848 years brazil to correct the panel causality results indicate there are energy consumption emissions bidirectional strong causality and energy consumption output bidirectional long run causality along with unidirectional both strong and short run causalities from emissions and energy consumption respectively to output overall in order to reduce emissions and not to adversely affect economic growth increasing both energy supply investment and energy efficiency and stepping up energy conservation policies to reduce unnecessary wastage of energy can be initiated for energy dependent bric countries

causal independence between energy consumption and economic growth in liberia evidence from a non parametric bootstrapped causality test abstract this contribution investigates causal interdependence between energy consumption and economic growth in liberia and proposes application of a bootstrap methodology to better reflect causality employment is incorporated as additional variable the study demonstrates evidence of distinct bidirectional granger causality between energy consumption and economic growth additionally the results show that employment in liberia granger causes economic growth and apply irrespective of the short run or long run evidence from a monte carlo experiment reveals that the asymptotic granger causality test suffers size distortion problem for liberian data suggesting that the bootstrap technique employed in this study is more appropriate given the empirical results implications are that energy expansion policies like energy subsidy or low energy tariff for instance would be necessary to cope with demand exerted as a result of economic growth in liberia furthermore liberia might have the performance of its employment generation on the economy partly determined by adequate energy therefore it seems fully justified that a quick shift towards energy production based on clean energy sources may significantly slow down economic growth in liberia hence the government s target to implement a long term strategy to make liberia a carbon neutral country and eventually less carbon dependent by 2050 is understandable

electricity consumption real gdp causality nexus evidence from a bootstrapped causality test for 30 oecd countries the goal of this paper is to examine any causal effects between electricity consumption and real gdp for 30 oecd countries we use a bootstrapped causality testing approach and unravel evidence in favour of electricity consumption causing real gdp in australia iceland italy the slovak republic the czech republic korea portugal and the uk the implication is that electricity conservation policies will negatively impact real gdp in these countries however for the rest of the 22 countries our findings suggest that electricity conversation policies will not affect real gdp

do urbanization income and trade affect electricity consumption across chinese provinces abstract the aim of this paper is to investigate the short and long run links among urbanization output gross domestic product gdp trade openness and electricity consumption in china using a rich dataset at the provincial level the short run granger causality analysis discloses a unidirectional causal relationship running from electricity to output and weak feedback effects between trade and urbanization the long run granger causality analysis shows output urbanization and trade trigger electricity consumption whereas trade urbanization and electricity cause output the group mean and lambda pearson causality tests reveal a large heterogeneity in the long run effects which suggests there is no one size fits all policy and each region should formulate a differentiated urbanization growth strategy based on its own characteristics to control electricity utilization

energy consumption and economic growth evidence from 11 sub sahara african countries abstract the paper examines the causal relationship between energy consumption and economic growth for eleven countries in sub saharan africa using the autoregressive distributed lag ardl bounds test the study finds that energy consumption is cointegrated with economic growth in cameroon cote d ivoire gambia ghana senegal sudan and zimbabwe moreover this test suggests that energy consumption has a significant positive long run impact on economic growth in ghana kenya senegal and sudan granger causality test based on vector error correction model vecm shows bi directional relationship between energy consumption and economic growth for gambia ghana and senegal however granger causality test shows that economic growth granger causes energy consumption in sudan and zimbabwe the neutrality hypothesis is confirmed in respect of cameroon and cote d ivoire the same result of no causality was found for nigeria kenya and togo the result shows that each country should formulate appropriate energy conservation policies taking into cognizance of her peculiar condition

energy consumption and gdp causality relationship in g 7 countries and emerging markets abstract the causality relationship between energy consumption and income is a well studied topic in energy economics this paper studies the time series properties of energy consumption and gdp and reexamines the causality relationship between the two series in the top 10 emerging markets excluding china due to lack of data and g 7 countries we discover bi directional causality in argentina causality running from gdp to energy consumption in italy and korea and from energy consumption to gdp in turkey france germany and japan hence energy conservation may harm economic growth in the last four countries

energy consumption in the us reconsidered evidence across sources and economic sectors abstract this study analyzes the impact of gdp shocks in usa on primary energy consumption and the reverse impact in a comprehensive and novel framework distinguishing by economic sectors commercial industrial residential and transportation and energy source i e total fossil coal natural gas and petroleum nuclear and renewable hydroelectric geothermal and biomass for the period 1973 1 to 2015 2 to this end we apply granger causality analysis through the hatemi j 1 and toda and yamamoto 2 approaches from a time series perspective to evaluate the existence of asymmetries on this bidirectional relationship the empirical results suggest that the impact of gdp on primary energy consumption is heterogeneous and energy source specific and an asymmetric behavior appears among cycles moreover it seems clear that the us economy is highly dependent on petroleum energy consumption the renewable energy sources do not seem to show any relationshipsources seem to show no relationship with economic growth and finally our results suggest that energy consumption in the industrial sector is key to economic growth and is also very sensitive to negative economic shocks

electricity consumption and economic growth in the gcc countries panel data analysis applying recent advances in panel data analysis we investigate the relationship between electricity consumption and economic growth in the gcc countries using annual data from 1975 to 2012 within a framework which takes into consideration dynamics heterogeneity and cross sectional dependence in the panel we show that the results obtained from using the pmge demeaned pmg amg mge and dfe models indicate a long run equilibrium relationship between electricity consumption and economic growth in order to determine the appropriate model and decide the preferred estimator the hausman test was performed the pmge model emerged as the most efficient of the three estimators also the results obtained revealed a bi directional causality between economic growth and electricity consumption in these countries which supports the feedback hypothesis as a result this implies that if these countries adopt or implement any energy or electricity conservation policies this may have a negative impact on its economic growth

the relationship amongst energy consumption renewable and non renewable and gdp in algeria abstract this study aims to explore economic growth energy consumption nexus in algeria between 1980 and 2012 with cointegration tests we demonstrate the existence of long run link between real gross domestic product real capital and the two categories of energy consumption i e renewable energy per capita and non renewable energy the long run and the short run autoregressive distributed lag ardl estimates indicate that only the non renewable energy sort and capital can contribute to enhancing economic growth whereas renewable energy does not show any significant effect the outcome of causality tests proves a feedback link among non renewable energy consumption and gross domestic product among capital and gross domestic product and among non renewable energy and capital in both short run and long run terms moreover the results reveal a unidirectional link going from renewable energy to economic growth capital and non renewable energy respectively in the long run furthermore the results illustrate the presence of a unidirectional link going from non renewable energy to renewable energy in the short term our outcome suggests that policy makers in algeria should enhance the renewable energy share together with controlling the non renewable one

energy consumption prices and economic growth in three ssa countries a comparative study in this paper we examine the causal relationship between energy consumption and economic growth in three sub saharan african countries namely south africa kenya and congo drc we incorporate prices as an intermittent variable in a bivariate setting between energy consumption and economic growth thereby creating a simple trivariate framework using the ardl bounds testing procedure we find that the causality between energy consumption and economic growth varies significantly across the countries under study the results show that for south africa and kenya there is a unidirectional causal flow from energy consumption to economic growth however for congo drc it is economic growth that drives energy consumption these findings have important policy implications insofar as energy conservation policies are concerned in the case of congo drc for example the implementation of energy conservation policies may not significantly affect economic growth because the country s economy is not entirely energy dependent however for south africa and kenya there is a need for more energy supply augmentations in order to cope with the long run energy demand in the short run however the two countries should explore more efficient and cost effective sources of energy in order to address the energy dependency problem

empirical evidence regarding electricity consumption and urban economic growth links between electricity consumption and economic growth are fairly well documented for national economies but less so for urban economies the analysis of such relationships at the sub national

nominal price rigidity money supply endogeneity and business cycles abstract this paper investigates the ability of nominal price rigidity to explain the co movement of inflation with the cyclical component of output observed in the post war u s data a dynamic general equilibrium model is constructed with the introduction of monopolistic competition and nominal price rigidity in a standard real business cycle model allowing for an endogenous money supply rule it is then demonstrated that sticky price models can explain the observed associations between movements in inflation and output much better than flexible price models this result depends little on whether money supply is assumed to be endogenous or not

cointegration and threshold adjustment this article proposes an extension to the engle granger testing strategy by permitting asymmetry in the adjustment toward equilibrium in two different ways we demonstrate that our test has good power and size properties over the engle granger test when there are asymmetric departures from equilibrium we consider an application namely whether there exists cointegration among interest rates for instruments with different maturities this issue has been widely tested with mixed results we argue that either cautious policy or possibly opportunistic behavior on the part of the federal reserve implies that an equilibrium relationship between short and long term interest rates exists but that adjustments from disequilibrium are asymmetric in nature empirical tests using u s yields confirm the asymmetric nature of error correction among interest rates of different maturities

the residential demand for electricity in australia an application of the bounds testing approach to cointegration this paper reports estimates of the long and short run elasticities of residential demand for electricity in australia using the bounds testing procedure to cointegration within an autoregressive distributive lag framework in the long run we find that income and own price are the most important determinants of residential electricity demand while temperature is significant some of the time and gas prices are insignificant our estimates of long run income elasticity and price elasticity of demand are consistent with previous studies although they are towards the lower end of existing estimates as expected the short run elasticities are much smaller than the long run elasticities and the coefficients on the error correction coefficients are small consistent with the fact that in the short run energy appliances are fixed

energy consumption and economic growth parametric and non parametric causality testing for the case of greece abstract the objective of this paper is to contribute towards the understanding of the linear and non linear causal linkages between energy consumption and economic activity making use of annual time series data of greece for the period 1960 2008 two are the salient features of our study first the total energy consumption has been adjusted for qualitative differences among its constituent components through the thermodynamics of energy conversion in doing so we rule out the possibility of a misleading inference with respect to causality due to aggregation bias second the investigation of the causal linkage between economic growth and the adjusted for quality total energy consumption is conducted within a non linear context our empirical results reveal significant unidirectional both linear and non linear causal linkages running from total useful energy to economic growth these findings may provide valuable information for the contemplation of more effective energy policies with respect to both the consumption of energy and environmental protection

inconsistency of economic growth and electricity consumption in china a panel var approach abstract china has the largest electricity system in the world which is undergoing a critical market reform based on the panel data in 2000 to 2016 of china this paper tries to explain theinconsistency between electricity consumption and economic growth for example in 2015 gdp growth rate was close to 6 9 but with only 2 9 growth in electricity consumption however in 2018 a 6 6 growth in gdp required an 8 5 electricity growth the results explain the reasons for inconsistency and identify the key factors we find that the increase in inventory fixed capital and industrial electricity consumption will narrow the gap when economy grows faster than electricity consumption and widen the gap on the contrary heterogeneity exists among regions the model and variables seem most convincing in explaining the situation in the western region which is most similar to the full sample of china feedback effect is also observed between electricity consumption and economic growth in most parts of china by granger test the findings provides suggestions for the policy makers in making power planning in an effort to avoid large power shortage or surplus

energy gdp relationship revisited an example from gcc countries using panel causality abstract this work investigates the causality relationship between gross domestic product gdp and energy consumption in the six countries of the gulf cooperation council gcc recently developed panel cointegration and causality techniques are used to uncover the direction of energy gdp causality in the gcc empirical results indicate a unidirectional causality running from gdp to energy consumption evidence shows no support for the hypothesis that energy consumption is the source of gdp growth in the gcc countries such results suggest that energy conservation policies may be adopted without much concern about their adverse effects on the growth of gcc economies

housing wealth and residential energy consumption abstract the housing wealth effect often manifests as a positive relationship between consumption and perceived housing wealth e g the perceived value of houses when the perceived value of a property rises homeowners may feel more comfortable and secure about their wealth causing them to spend more this study adopts a behavioural approach to verify if this relationship holds true for residential energy consumption in the uk while controlling for property characteristics and a large number of demographic socioeconomic and energy use behaviour variables we identified a significant relationship between housing wealth and energy consumption our models also considered psychological biases in energy consumption behaviours such as the framing effect our findings shed light on the behavioural aspects of housing wealth effect on residential energy consumption and demonstrate the potential to nudge households towards energy conservation most importantly we provide empirical evidence on the intriguing relationship among housing wealth residential energy consumption and fuel poverty the findings of this study are particularly helpful in designing and implementing energy consumption policies that can strike a balance between social justice and economic efficiency

adaptive learning and the use of forecasts in monetary policy abstract this paper investigates monetary policy design when central bank and private sector expectations differ private agents learn adaptively the central bank has a possibly misspecified model of the economy successful implementation of optimal policy using inflation targeting rules requires the central bank to have complete knowledge of private agents learning behavior if the central bank mistakenly assumes private agents to have rational expectations when in fact they are learning then policy rules frequently lead to divergent learning dynamics however if the central bank does not correctly understand agents behavior stabilization policy is best implemented by controlling the path of the price level rather than the inflation rate

electricity consumption and economic growth a time series experience for 17 african countries abstract while the availability of electricity by itself is not a panacea for the economic and social problems facing africa the supply of electricity is nevertheless believed to be a necessary requirement for africa s economic and social development this paper tests the long run and causal relationship between electricity consumption per capita and real gross domestic product gdp per capita for 17 african countries for the period 1971 2001 using a newly developed cointegration test proposed by pesaran et al 2001 and using a modified version of the granger causality test due to toda and yamamoto 1995 the advantage of using these two approaches is that they both avoid the pre testing bias associated with conventional unit root and cointegration tests the empirical evidence shows that there was a long run relationship between electricity consumption per capita and real gdp per capita for only 9 countries and granger causality for only 12 countries for 6 countries there was a positive uni directional causality running from real gdp per capita to electricity consumption per capita an opposite causality for 3 countries and bi directional causality for the remaining 3 countries the result should however be interpreted with care as electricity consumption accounts for less than 4 of total energy consumption in africa and only grid supplied electricity is taken into account

dynamics of electricity consumption oil price and economic growth global perspective this study uses the data from 157 countries from 1960 to 2014 to analyze the relationship between economic growth electricity consumption oil prices capital and labor the economic growth of developing countries with industrial infrastructure has a more significant association with electricity consumption than oil prices we use oil prices and electricity consumption jointly to study highly predictive observations for economic growth the data are categorized by income oecd and regional levels the panel cointegration long run parameter estimation and pool mean group tests are used to analyze the cointegration and short run and long run relationships between the variables the empirical results indicate the presence of cointegration between the variables the presence of feedback effects between electricity consumption and economic growth oil prices and economic growth is valid these findings confirm that in spite of the oil prices developing countries rely heavily on electricity consumption for economic growth in the short run growth and feedback effects suggest that more vigorous electricity policies should be implemented to attain sustainable economic growth for the long term

does the level of energy intensity matter in the effect of energy consumption on the growth of transition economies evidence from dynamic panel threshold analysis abstract this study investigates whether the effect of energy consumption on economic growth differs by the level of energy intensity we employ an advanced dynamic panel threshold regression model to test for the threshold level of energy intensity that has an asymmetrical energy consumption effect on economic growth we consider 12 commonwealth of independent states countries over the period 1991 2013 the estimated panel threshold regression model suggests 0 44 as the threshold level of energy intensity energy consumption above this level significantly retards economic growth whereas energy consumption below the level is found to have a statistically significant positive effect on economic growth thus when the threshold level of energy intensity one of the important indicators of energy efficiency is exceeded energy consumption significantly hinders growth if policy makers pay more attention to energy intensity while formulating new energy policies substantial gains can be achieved in low energy intensity environments

energy consumption and economic growth evidence from the economic community of west african states ecowas access to modern energy is believed to be a prerequisite for sustainable development poverty alleviation and the achievement of the millennium development goals however theoretical models and empirical results offer conflicting evidence on the relationship between energy consumption and economic growth that we remain largely unsure of the cause and effect nature of this relationship if indeed a relationship exists at all this paper tests in a panel context the long run relationship between energy access and economic growth for fifteen african countries from 1980 to 2008 by using recently developed panel cointegration techniques we adopt a three stage approach consisting of panel unit root panel cointegration and granger causality tests to study the dynamic causal relationships between energy consumption energy prices and growth as well as relationship between electricity consumption prices and growth results show that gdp and energy consumption as well as gdp and electricity move together in the long run by estimating these long run relationships and testing for causality using panel based error correction models we found unidirectional long run and short run causality the causality is running from gdp to energy consumption in the short run and from energy consumption to gdp in the long run there is also evidence of unidirectional causality running from electricity consumption to gdp in the long run this study thus provides empirical evidence of long run and causal relationships between energy consumption and economic growth for our sample of fifteen countries suggesting that lack or limited access to modern energy services could hamper economic growth and compromise the development prospects of these countries

price level versus inflation targeting abstract this paper shows that price level targeting outperforms inflation targeting in the standard new keynesian model under the assumption that the central bank is forced to operate in an environment characterized by discretion in the benchmark case with no persistence in the shocks the commitment solution can be fully replicated intuitively price level targeting introduces history dependence and a stationary level of prices both of which are prominent features of the commitment solution

aggregate and welfare effects of redistribution of wealth under inflation and price level targeting abstract an unanticipated rise in the price level redistributes wealth from lenders to borrowers its size depends on the monetary policy regime as inflation targeting it and price level targeting pt have different implications for the price level path following price level movements the effects of an unexpected 1 price level increase are measured and assessed under both regimes overall the redistribution of wealth and the implied aggregate and welfare effects are larger under it than they are under pt the youngest the poorest and the government gain at the expense of the rest of the population and when the government gain is given to households as lump sum transfers the effects on gdp are negative and long lasting

co2 emissions energy consumption and economic growth in turkey abstract this paper examines the long run and causal relationship issues between economic growth carbon emissions energy consumption and employment ratio in turkey by using autoregressive distributed lag bounds testing approach of cointegration empirical results for turkey over the period 1968 2005 suggest an evidence of a long run relationship between the variables at 5 significance level in turkey the estimated income elasticity of carbon emissions per capita is 0 606 and the income elasticity of energy consumption per capita is 1 375 results for the existence and direction of granger causality show that neither carbon emissions per capita nor energy consumption per capita cause real gdp per capita but employment ratio causes real gdp per capita in the short run in addition ekc hypothesis at causal framework by using a linear logarithmic model is not valid in turkish case the overall results indicates that energy conservation policies such as rationing energy consumption and controlling carbon dioxide emissions are likely to have no adverse effect on the real output growth of turkey

learning about monetary policy rules abstract we study macroeconomic systems with forward looking private sector agents and a monetary authority that is trying to control the economy through the use of a linear policy feedback rule we use stability under recursive learning a la evans and honkapohja learning and expectations in macroeconomics princeton university press princeton new jersey 2001 as a criterion for evaluating monetary policy rules in this context we find that considering learning can alter the evaluation of alternative policy rules

a note on the causal relationship between energy and gdp in taiwan abstract this paper re examines the causality between energy consumption and gdp by using updated taiwan data for the period 1954 1997 as a secondary contribution we investigate the causal relationship between gdp and the aggregate as well as several disaggregate categories of energy consumption including coal oil natural gas and electricity applying granger s technique we find bidirectional causality between total energy consumption and gdp we find further that different directions of cause exist between gdp and various kinds of energy consumption

energy consumption and economic growth a causality analysis for greece abstract this paper investigates the causal relationship between aggregated and disaggregated levels of energy consumption and economic growth for greece for the period 1960 2006 through the application of a later development in the methodology of time series proposed by toda and yamamoto 1995 at aggregated levels of energy consumption empirical findings suggest the presence of a uni directional causal relationship running from total energy consumption to real gdp at disaggregated levels empirical evidence suggests that there is a bi directional causal relationship between industrial and residential energy consumption to real gdp but this is not the case for the transport energy consumption with causal relationship being identified in neither direction the importance of these findings lies on their policy implications and their adoption on structural policies affecting energy consumption in greece suggesting that in order to address energy import dependence and environmental concerns without hindering economic growth emphasis should be put on the demand side and energy efficiency improvements

a note on the electricity growth nexus in lao pdr abstract this paper investigates the relationship between electricity consumption and economic growth in laos by applying the ardl bounds testing approach to cointegration and granger causality tests our results confirm the existence of a long run relationship between electricity consumption and economic growth in addition we found unidirectional causality running from economic growth to electricity consumption in the long run supporting the conservation hypothesis

an empirical study of the asymmetric cointegration relationships among the chinese stock markets the enders and siklos asymmetric cointegration test is employed to examine the long run asymmetric equilibrium relationships between the chinese shanghai and shenzhen stock markets three samples are adopted which are the whole sample october 1992 to september 2002 the first subsample before b shares were opened up to the chinese public october 1992 to february 2001 and the second subsample after b shares were opened up february 2001 to september 2002 the estimated results are as follows first when the conventional engle granger symmetric cointegration test is used only the a shares in shanghai and shenghen stock exchange market are cointegrated when using the whole sample and the first subsample however with the enders siklos m tar asymmetric cointegration test shenzhen a and b shares stock prices have an asymmetric cointegration relationship after b shares were open suggesting that openness increases the market efficiency furthermore the two a shares in shanghai and shenzhen stock exc

the effects of inflation on economic growth lessons from latin america this paper investigates the relationship between inflation and long run growth it presents an endogenous growth model that illustrates the channels through which inflation affects growth the model highlights the effects of inflation on the productivity of capital and the rate of capital accumulation the reduction in growth is caused by a diversion of resources away from activities that lead to faster rates of growth toward activities associated with reducing the costs of inflation the negative association between inflation and growth is assessed empirically for a sample group of latin american countries this abstract was borrowed from another version of this item

analysis of electricity consumption in china 1990 2016 using index decomposition and decoupling approach abstract electricity consumption accounts for a significant portion of final energy consumption in countries worldwide and has a close relationship with economic growth this paper explores the factors influencing electricity consumption in china during 1990 2016 using index decomposition analysis and analyses the decoupling status between economic growth and electricity consumption in addition to the influencing factors these analyses are conducted at both national and sectoral levels the results reveal that 1 the economic activity effect was the main driving force increasing total electricity consumption in china while the energy intensity effect hindered it 2 both diversity and aggregation existed at the sector level the power generation chemicals and non ferrous sectors were the top three contributors to increased electricity consumption 3 the change of electricity consumption caused by gdp growth in china showed three decoupling states during 1990 2016 expansive negative decoupling expansive coupling and weak decoupling in particular the energy intensity effect stimulated the occurrence of decoupling 4 industrial sectors played a significant role in decoupling in china while service sectoral electricity consumption showed expansive coupling with its sectoral gdp in recent years

on the perils of stabilizing prices when agents are learning abstract the main advantage of price level stabilization compared with inflation stabilization rests on the central bank s ability to shape expectations we show that stabilizing prices is no longer optimal when the central bank can shape expectations of agents with incomplete knowledge who have to learn about the policy implemented disinflating in the short run more than agents expect generates short term gains without triggering an abrupt loss of confidence because agents update expectations sluggishly following this policy in the long run the central bank loses the ability to shape agents beliefs and the economy converges to a rational expectations equilibrium in which policy does not stabilize prices economic volatility is high and agents suffer the corresponding welfare losses however these losses are outweighed by short term gains from the learning phase

tenure neutral and equitable housing taxation equity and neutrality are distinct concepts in housing taxation and weak and strong tenure neutrality should be distinguished when a tax system is tested for those criteria the taxes paid by landlords must be included as they affect the rents renters pay this paper defines appropriate tests applies them to a stylised tax system and proposes tax changes designed to restore tenure equity and or neutrality it shows how the homeowner s implicit income should be computed for taxes to be fundamentally tenure neutral or equitable or both it also shows the key role played by the cost differential in producing housing services under owner occupation and renting

energy consumption and economic growth nexus in portugal italy greece spain and turkey an ardl bounds test approach 1965 2009 abstract the paper examines the nexus between primary energy consumption and growth in portugal italy greece spain and turkey pigst with annual time series data from 1965 to 2009 pigst are southern european economies which have experienced several episodes that make them of particular interest to the study of periods of economic expansion and stagnation an ardl bounds test approach is a suitable technique to examine energy growth nexus within the context of countries with both sporadic shocks outliers and permanent shocks structural breaks empirical results suggest bidirectional causality between energy and growth in both the long run and short run supporting the feedback hypothesis the results reveal themselves to be robust to panel framework an energy conservation policy will reduce gdp growth while a saving phenomenon is observed since one additional unit of product requires less than one unit of energy

disaggregated industrial energy consumption and gdp the case of shanghai 1952 1999 abstract this paper investigates the causal relationship between various kinds of industrial energy consumption and gdp in shanghai for the period 1952 1999 using a modified version of the granger 1969 causality test proposed by toda and yamamoto j econ 66 1995 225 the empirical evidence from disaggregated energy series seems to suggest that there was a uni directional granger causality running from coal coke electricity and total energy consumption to real gdp but no granger causality running in any direction between oil consumption and real gdp

carbon emissions energy consumption and economic growth an aggregate and disaggregate analysis of the indian economy abstract this study investigates the long and short run relationships among carbon emissions energy consumption and economic growth in india at the aggregated and disaggregated levels during 1971 2014 the autoregressive distributed lag model is employed for the cointegration analyses and the vector error correction model is applied to determine the direction of causality between variables results show that a long run cointegration relationship exists and that the environmental kuznets curve is validated at the aggregated and disaggregated levels furthermore energy total energy gas oil electricity and coal consumption has a positive relationship with carbon emissions and a feedback effect exists between economic growth and carbon emissions thus energy efficient technologies should be used in domestic production to mitigate carbon emissions at the aggregated and disaggregated levels the present study provides policy makers with new directions in drafting comprehensive policies with lasting impacts on the economy energy consumption and environment towards sustainable development

estimation of electricity demand function for algeria revisit of time series analysis abstract this paper aims to empirically re examine whether economic growth has effect on electricity consumption for algerian economy we have incorporated urbanization and trade openness in electricity demand function as additional determinants of electricity consumption for the period of 1971 2012 for empirical purpose we have applied the recently developed combined cointegration test proposed by bayer and hanck 2013 and bounds testing approach to cointegration by pesaran et al 2001 for establishing the cointegration between the variables by accommodating structural breaks the results expose that income growth leads to higher electricity demand along with urbanization being another major contributing factor of rising electricity demand in contrast trade openness leads to reduce electricity demand the causal association between the variables is further examined with the application of innovation accounting approach of vector autoregressive var the empirical evidence indicates the presence of the neutral effect between income growth and electricity use urbanization causes electricity use and electricity use causes urbanization in granger sense

energy consumption and gdp in tunisia cointegration and causality analysis abstract in this paper the johansen cointegration technique is used to examine the causal relationship between per capita energy consumption pcec and per capita gross domestic product pcgdp for tunisia during the 1971 2004 period in order to test for granger causality in the presence of cointegration among the variables a vector error correction model vecm is used instead of a vector autoregressive var model our estimation results indicate that the pcgdp and pcec for tunisia are related by one cointegrating vector and that there is a long run bi directional causal relationship between the two series and a short run unidirectional causality from energy to gross domestic product gdp the source of causation in the long run is found to be the error correction terms in both directions hence an important policy implication resulting from this analysis is that energy can be considered as a limiting factor to gdp growth in tunisia conclusions for tunisia may also be relevant for a number of countries that have to go through a similar development path of increasing pressure on already scarce energy resources

nigeria s energy poverty insights and implications for smart policies and framework towards a smart nigeria electricity network a thorough and exhaustive review of relevant literature and associated works is carried out to critically examine energy poverty in nigeria with respect to ownership and income using the desktop approach and empirical formulas the persistent failure of public infrastructure like healthcare education and security to the poor electricity generation transmission and distribution capacity in the country is examined alongside current government s contribution to buoying our generation capacity and electricity access through policies and investment the findings of the review reveal the urgent need for the smart roll out of distributed generation units in order to stimulate and encourage the ongoing diversification of the economy and also the need for a sustainable road map that incorporates the successes of countries faced with similar challenges this review paper also proposes the need for palliatives in form of subsidized solar home systems shss through a sustainable and economically viable means for off grid homes to assuage the effects of non availability of grid electricity

the asymmetric role of shadow economy in the energy growth nexus in bolivia abstract this paper estimates the energy demand function to examine the asymmetric relationship between the shadow economy and energy consumption in the case of bolivia during the period of 1960 2015 the ambiguous empirical findings on shadow economy energy demand nexus has inclined us to apply the nonlinear ardl cointegration approach developed by shin et al 2014 and the hatemi j 2012 asymmetric causality test the empirical evidence confirms the presence of an asymmetric relationship between the variables of interest positive and negative shocks to official gdp true gdp and the shadow economy have positive impacts on energy consumption energy consumption is positively and negatively affected by positive and negative shocks in financial development respectively a positive negative shock to capital decreases energy consumption another important finding concerns the complex causal direction between economic growth and energy consumption this study provides new insights regarding to the use of official gdp true gdp and the shadow economy as economic tools to maintain energy demand for sustainable economic development

cointegration and causality between electricity consumption and gdp empirical evidence from malawi abstract the granger causality gc and error correction ecm techniques were applied on 1970 1999 data for malawi to examine cointegration and causality between electricity consumption kwh and respectively overall gdp agricultural gdp agdp and non agricultural gdp ngdp cointegration was established between kwh and respectively gdp and ngdp but not with agdp the gc results detect bi directional causality between kwh and gdp suggesting that kwh and gdp are jointly determined but one way causality running from ngdp to kwh the ecm results detect causality running one way from gdp also from ngdp to kwh suggesting that a permanent rise in gdp may cause a permanent growth in electricity consumption

electricity consumption and economic growth evidence from korea abstract this paper investigates the short and long run causality issues between electricity consumption and economic growth in korea by using the co integration and error correction models it employs annual data covering the period 1970 2002 the overall results show that there exists bi directional causality between electricity consumption and economic growth this means that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption

exploring the bi directional long run relationship between energy consumption and life quality abstract this study aims at investigating the bi directional long run relationship for the period of 1990 2009 between energy consumption and life quality in 198 countries categorized by income level to achieve this goal the canonical cointegrating regression ccr was utilized the results revealed that energy consumption improves the life quality of 70 of the countries despite their different incomes the study s results unlike all other previous studies also revealed that the life quality indicators also increase energy consumption a phenomenon that appears to be true in 65 of the countries despite the fact that energy consumption plays an important role in achieving a better life quality the world still depends on fossil fuels which represent 81 of total energy consumption therefore it is suggested that these countries should rationalize their fossil fuel energy consumption by increasing the role of renewable energy and increasing their energy saving to improve life quality without causing any damage to the environment

electricity consumption and economic growth across australian states and territories this study investigates the long run and short run dynamics between electricity consumption along with traditional inputs such as labour and capital on economic output for a panel of seven austra

energy consumption economic growth and prices a reassessment using panel vecm for developed and developing countries this paper reinvestigates the energy consumption gdp growth nexus in a panel error correction model using data on 20 net energy importers and exporters from 1971 to 2002 among the energy exporters there was bidirectional causality between economic growth and energy consumption in the developed countries in both the short and long run while in the developing countries energy consumption stimulates growth only in the short run the former result is also found for energy importers and the latter result exists only for the developed countries within this category in addition compared to the developing countries the developed countries elasticity response in terms of economic growth from an increase in energy consumption is larger although its income elasticity is lower and less than unitary lastly the implications for energy policy calling for a more holistic approach are discussed c 2006 elsevier ltd all rights reserved

electricity consumption and economic growth in nigeria a revisit of the energy growth debate abstract this paper examines the dynamic causal linkages between electricity consumption and economic growth in nigeria within a trivariate vecm for the period 1971 2011 the paper obviates the variable omission bias and the use of cross sectional techniques that characterise most existing studies the results show that there is a distinct causal flow from electricity consumption to economic growth both in the short run and in the long run this finding supports the electricity led growth hypothesis that has been conjectured in the literature the paper urges policy makers in nigeria to implement policies which enhance the generation and consumption of electricity in order to engineer economic growth appropriate monetary policies must also be put in place in order to moderate inflation thus enhancing growth

a dynamic equilibrium of electricity consumption and gdp in hong kong an empirical investigation abstract public debates on electricity policy in hong kong focus on the regulation regime but seldom discuss the macroeconomic impact in this paper we use the novel dataset on electricity consumption and report the following findings 1 there is a long run equilibrium relationship between real gdp and electricity consumption 2 a one way causal effect exists from electricity consumption to real gdp 3 a significant adjustment process occurs when equilibrium is interrupted 4 there exists possible structural change in the relationship between electricity consumption and economic activities in 1990s

production function with electricity consumption and policy implications in portugal using a sample of quarterly data we investigate the effect of electricity consumption capital formation and financial development on economic growth in portugal a positive negative shock of electricity consumption is estimated to have increased decreased economic growth economic growth is positively affected by positive shock stems in capital a positive negative shock in financial development declines increases economic growth these findings reveal that a portugal is still an energy dependent economy b energy is one of the major inputs for economic growth and development c a conservation energy policy should not be implemented because energy is an important driver of growth d economic growth enhances capital formation and not the opposite hence it appears more relevant to boost economic growth before enhancing capital formation e financial development does not appear to be an important catalyst for economic growth findings also highlight f the relevance of the recent energy policy implemented in portugal and g the need to limit energy imports by means of producing electricity through renewable energy to reduce the external debt level in portugal especially after the 2008 crisis

non linear dynamics of electric power losses electricity consumption and gdp in jamaica abstract we examine the relationship between electric power losses electric power consumption and gdp in jamaica for the period 1971 to 2014 accounting for the non linear growth in gdp there are two key findings first there are cointegrating relationships between the energy variables and gdp in the long run a positive shock to electric power losses has a negative impact on gdp but one to electric power consumption has a positive impact that peters out over time second in the short run the growth in the energy variables granger cause gdp growth we discuss the implications of these findings

interpreting the dynamic nexus between energy consumption and economic growth empirical evidence from russia research on the nexus between energy consumption and economic growth is a fundamental topic for energy policy making and low carbon economic development russia proves the third largest energy consumption country in the world in recent years while little research has shed light upon its energy consumption issue till now especially its energy growth nexus therefore this paper empirically investigates the dynamic nexus of the two variables in russia based on the state space model the results indicate that first of all russia s energy consumption is cointegrated with its economic growth in a time varying way though they do not have static or average cointegration relationship hence it is unsuitable to merely portrait the nexus in an average manner second ever since the year of 2000 russia s energy efficiency has achieved much more promotion compared with that in previous decades mainly due to the industrial structure adjustment and technology progress third among bric countries the consistency of russia s energy consumption and economic growth appears the worst which suggests the complexity of energy growth nexus in russia finally there exists bi directional causality between russia s energy consumption and economic growth though their quantitative proportional relation does not have solid foundation according to the cointegration theory

is energy security a driver for economic growth evidence from a global sample abstract this study examines whether energy security contributes to economic growth for a global sample of 74 countries covering the period from 2002 to 2013 the benchmark model is built based on an extended version of the cobb douglas production function ten measures of energy security are employed to capture five aspects of energy security including availability accessibility acceptability affordability and develop ability besides the whole sample we also conduct the panel data analysis on subsamples of countries based on different income levels using panel corrected standard errors pcse and feasible generalized least squares fgls techniques that correct for heterogeneity and autocorrelation and produce robust standard errors the empirical results appear to be relatively robust to these two estimation techniques overall we find that energy security enhances economic growth for both the whole sample and subsamples of countries meanwhile energy insecurity measured by energy intensity and carbon intensity variables has a negative impact on economic growth the results vary across subsamples for several cases the findings imply that at the global level energy for economic development energy security and climate change mitigation should be pursued as integrated themes since there are linkages among these three agendas

how does the implementation of the policy of electricity substitution influence green economic growth in china abstract to promote the level of electrification reduce environmental pollution and achieve the goal of clean energy usage and green economic growth in china the national development and reform commission and other eight departments jointly issued and implemented the policy of electricity substitution in 2016 electricity substitution aims to replace traditional fossil fuels such as coal and fuel oil with clean electric energy in different fields e g industry transportation and construction and deal with the pollutants at power generation however we still need to find out the exact impact of the policy of electricity substitution on energy saving and emission reduction in this paper we estimate the economically feasible increment of electricity demand according to different classifications in electricity substitution technology furthermore based on the input output model we discuss the relative influence of the policy of lectricity substitution the main conclusions are first the policy of electricity substitution alone is not adequate to reduce the dependence on fossil energy and environmental pollution under china s current power generation structure we should also increase the use of renewable energy second the power sector plays a leading role in stimulating economic output and the increasing electricity consumption due to the policy of electricity substitution can boost the green development of china s economy

rural electrification and household labor supply evidence from nigeria in nigeria the most populated african country rural electrification is a critical issue because of the low household electrification rate and the poor quality of the grid this energy poverty has harmful economic and social consequences in rural areas such as low productivity lack of income generating opportunities and poor housing conditions in this paper we consider electrification as a technical shock that may affect household time allocation using the 2010 2011 general household survey we investigate how electrification affects female and male labor supply decisions within rural households in nigeria focusing on husband wife data we consider potential dependence in spouses labor supply decisions and address the challenge of zero hours of work using a recent copula based bivariate hurdle model deb et al 2013 in addition an instrumental variable strategy helps identify the causal effect of elec trification our results underline that this dependence in spouses labor supply decisions is critical to consider when assessing the impact of electrification on these outcomes electrifi cation increases the working time of both spouses in the separate assessments but the joint analysis emphasizes only a positive effect of electrification on husbands working time in line with the household labor supply approach our findings highlight that within the household the labor supply decisions of one spouse significantly affect those of the other spouse thus if we neglect the effect of electrification on the spouse of the individual examined we may fail to assess how this individual has been actually affected by this common shock on both spouses our results suggest that these within household relationships promote husbands working time at the expense of wives working time

energy consumption and growth in south america evidence from a panel error correction model abstract this study examines the relationship between energy consumption and economic growth for a panel of nine south american countries over the period 1980 2005 within a multivariate framework given the relatively short span of the time series data a panel cointegration and error correction model is employed to infer the causal relationship pedroni s heterogeneous panel cointegration test reveals a long run equilibrium relationship between real gdp energy consumption the labor force and real gross fixed capital formation with the respective coefficients positive and statistically significant the granger causality results indicate both short run and long run causality from energy consumption to economic growth which supports the growth hypothesis

trivariate causality between economic growth urbanisation and electricity consumption in angola cointegration and causality analysis abstract this paper investigates the causal relationship between economic growth urbanisation and electricity consumption in the case of angola while utilizing the data over the period of 1971 2009 we have applied lee and strazicich 2003 the review of economics and statistics 63 1082 1089 2004 working paper department of economics appalachian state university unit root tests to examine the stationarity properties of the series using the gregory hansen structural break cointegration procedure as a complement we employ the ardl bounds test to investigate long run relationships the vecm granger causality test is subsequently used to examine the direction of causality between economic growth urbanisation and electricity consumption our results indicate the existence of long run relationships we further observe evidence in favour of bidirectional causality between electricity consumption and economic growth the feedback hypothesis is also found between urbanisation and economic growth urbanisation and electricity consumption granger cause each other we conclude that angola is energy dependent country consequently the relevant authorities should boost electricity production as one of the means of achieving sustainable economic development in the long run

electricity consumption and economic growth in india abstract this paper tries to examine the granger causality between electricity consumption per capita and gross domestic product gdp per capita for india using annual data covering the period 1950 51 to 1996 97 phillips perron tests reveal that both the series after logarithmic transformation are non stationary and individually integrated of order one this study finds the absence of long run equilibrium relationship among the variables but there exists unidirectional granger causality running from economic growth to electricity consumption without any feedback effect so electricity conservation policies can be initiated without deteriorating economic side effects

causality between energy and output in the long run though there is a very large literature examining whether energy use granger causes economic output or vice versa this literature is fairly inconclusive almost all existing studies use relatively short time series or panels with a relatively small time dimension additionally many recent papers continue to use what seem to be misspecified models we apply granger causality and cointegration techniques to a swedish time series data set on energy and economic growth spanning 150 years to test whether increases in energy use and energy quality have driven economic growth we show that these techniques are very sensitive to variable definition choice of additional variables in the model and sample periods all of the following appear to make a finding that energy causes growth more likely using multivariate models defining variables to better reflect their theoretical definition using larger samples and including appropriate structural breaks however it is also possible that the relationship between energy and growth has changed over time and that results from recent smaller samples reflect this energy prices have a significant causal impact on both energy use and output

energy consumption and economic growth the experience of african countries revisited abstract the aim of this paper is to re examine the causal relationship between energy consumption and economic growth for seventeen african countries in a multivariate framework by including labor and capital as additional variables we apply the variance decomposition analysis due to pesaran and shin pesaran m h and shin y generalised impulse response analysis in linear multivariate models economics letters 1998 58 17 29 to evaluate how important is the causal impact of energy consumption on economic growth relative to labor and capital the results of our multivariate modified granger causality analysis due to toda and yamamoto toda h y and yamamoto t statistical inference in vector autoregressions with possibly integrated process journal of econometrics 1995 66 225 250 tend to reject the neutrality hypothesis for the energy income relationship in fifteen out of the seventeen countries in contrast results of our variance decomposition analyses show that in eleven out of the seventeen countries energy is no more than a contributing factor to output growth and not an important one when compared to capital and labor labor and capital are the most important factors in output growth in fifteen out of the seventeen countries however these results should be interpreted with care as they may not be sufficiently robust enough to support the inference that energy consumption plays a minor role in the economic growth of african countries

energy consumption carbon emissions and economic growth in china abstract this paper investigates the existence and direction of granger causality between economic growth energy consumption and carbon emissions in china applying a multivariate model of economic growth energy use carbon emissions capital and urban population empirical results for china over the period 1960 2007 suggest a unidirectional granger causality running from gdp to energy consumption and a unidirectional granger causality running from energy consumption to carbon emissions in the long run evidence shows that neither carbon emissions nor energy consumption leads economic growth therefore the government of china can purse conservative energy policy and carbon emissions reduction policy in the long run without impeding economic growth

the relationship between energy consumption energy prices and economic growth time series evidence from asian developing countries this paper estimates the causal relationships between energy consumption and income for india indonesia the philippines and thailand using cointegration and error correction modelling techniques the results indicate that in the short run unidirectional granger causality runs from energy to income for india and indonesia while bidirectional granger causality runs from energy to income for thailand and the philippines in the case of thailand and the philippines energy income and prices are mutually causal the study results do not support the view that energy and income are neutral with respect to each other with the exception of indonesia and india where neutrality is observed in the short run c 2000 elsevier science b v all rights reserved jel classifications c22 q43 q48

the electricity consumption and gdp nexus for the fiji islands fiji is a small open island economy dependent on energy for its growth and development hence the relationship between energy consumption and economic growth is crucial for fiji s development in this paper we investigate the nexus between electricity consumption and economic growth for fiji within a multivariate framework through including the labour force variable we use the bounds testing approach to cointegration and find that electricity consumption gdp and labour force are only cointegrated when gdp is the endogenous variable we use the granger causality f test and find that in the long run causality runs from electricity consumption and labour force to gdp implying that fiji is an energy dependent country and thus energy conservation policies will have an adverse effect on fiji s economic growth

energy use and output growth in canada a multivariate cointegration analysis using a neo classical one sector aggregate production technology where capital labor and energy are treated as separate inputs this paper develops a vector error correction vec model to test for the existence and direction of causality between output growth and energy use in canada using the johansen cointegration technique the empirical findings indicate that the long run movements of output labor capital and energy use in canada are related by two cointegrating vectors then using a vec specification the short run dynamics of the variables indicate that granger causality is running in both directions between output growth and energy use hence an important policy implication of the analysis is that energy can be considered as a limiting factor to output growth in canada

the causal relationship between energy consumption and economic growth in lebanon this paper investigates the dynamic causal relationship between energy consumption and economic growth in lebanon over the period 1980 2009 within a bivariate framework imposed on us due to data limitations and in an effort to increase the robustness of our results we employ a variety of causality tests namely hsiao toda yamamoto and vector error correction based granger causality tests we find strong evidence of a bidirectional relationship both in the short run and in the long run indicating that energy is a limiting factor to economic growth in lebanon from a policy perspective the confirmation of the feedback hypothesis warns against the use of policy instruments geared towards restricting energy consumption as these may lead to adverse effects on economic growth consequently there is a pressing need to revise the current national energy policy that calls for a 5 energy conservation target also to shield the country from external supply shocks given its substantial dependence on energy imports policymakers should emphasize the development of domestic energy resources further the most pertinent implication is that relaxing the present electric capacity shortages should be made a national priority in view of its potential positive effect on the economy

the dynamic links between energy consumption economic growth financial development and trade in china fresh evidence from multivariate framework analysis abstract this study investigates the relationship between energy use and economic growth by incorporating financial development international trade and capital as important factors of production function in case of china over the period of 1971 2011 the ardl bounds testing approach to cointegration was applied to examine long run relationship among the series while stationarity properties of the variables was tested by applying structural break test our empirical evidence confirmed long run relationship among the variables the results showed that energy use financial development capital exports imports and international trade have positive impact on economic growth the granger causality analysis revealed that unidirectional causal relationship running from energy use to economic growth financial development and energy use granger cause each other there is bidirectional causality between international trade and energy use the feedback relation exists between financial development and international trade there is also bidirectional causality exists between capital and energy demand financial development and economic growth and international trade and economic growth this paper makes significant contribution in energy economics and opens up new direction for policy makers to explore new and alternative sources of energy which would be helpful in meeting the rising demand of energy due to sustained rate of economic growth