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

the impact of renewable energy consumption to economic growth a panel data application internationally the importance of renewable energy in the energy mix has been increasingly appreciated the advantages of the renewable energy usage for the world s energy security and the environment are indisputable and much discussed in the literature however its effects on the economic welfare of the countries are yet to be examined fully and described quantitatively the purpose of this paper is to estimate the impact of the renewable energy consumption to economic welfare by employing panel data techniques the results show that the influence of renewable energy consumption or its share to the total energy mix to economic growth is positive and statistically significant from a policy point of view promoting renewable energies bears benefits not only for the environment but also for the economic conditions of the countries

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

electricity consumption and economic growth in algeria a multivariate causality analysis in the presence of structural change this article addresses the issue of electricity consumption petroleum price and economic growth in algeria the primary objective is to investigate and analyze the causal relationship between electricity consumption ec brent oil price bop and economic growth gdp for algeria over the period of 1971 2010 to examine short run long run and joint causality relationships we used a multivariate cointegration approach based on the recent advances in time series econometrics e g zivot andrews test gregory hansen cointegration test vector error correction models vecm the empirical results show that there is evidence of short run and a strong long run bi directional causal relationship between ec and real gdp in algeria findings indicate also the absence of causal relationship between bop and ec our empirical findings support the idea that there a link between electricity consumption and economic growth and disproves the neo classical assumption referred to as the neutrality hypothesis

the causality relationship between energy consumption and gdp in g 11 countries revisited abstract this paper explores whether energy conservation policies can be implemented in countries with the same level of development that is is restraining energy consumption without compromising economic growth feasible in all industrialized countries a new granger non causality testing procedure developed by toda and yamamoto 1995 journal of econometrics 66 225 250 is applied to re investigate the relationship if any between energy consumption and income in 11 major industrialized countries the results clearly do not support the view that energy consumption and income are neutral with respect to each other except in the case of the united kingdom germany and sweden where a neutral relationship is found bi directional causality in the united states and uni directional running from energy consumption to gdp in canada belgium the netherlands and switzerland are found this indicates that energy conservation may hinder economic growth in the latter five countries further the causality relationship appears to be uni directional but reversed for france italy and japan which implies that in these three countries energy conservation may be viable without being detrimental to economic growth

effects of renewable energy sector development on electricity consumption growth nexus in the european union abstract the aim of this study is to assess the effect of renewable energy sector development on the relationships between electricity consumption and economic growth in the european union countries in the period between 1995 and 2015 a panel vector autoregressive model is used for testing granger causality and estimating impulse response functions the results indicate that the relationships between economic growth and electricity consumption depend on the level of renewable energy sector development the greater the share of the renewable energy sector in the economy is the more noticeable the mutual dependence between the economic growth and renewable electricity consumption is in countries with relatively well developed renewable energy sectors renewable electricity consumption boosts the economy and vice versa in the remaining countries economic growth and electricity consumption are independent empirical findings suggest that policymakers should develop strategies to implement clean energy policy aimed at stimulating the development of the renewable energy sector to support economic growth

the relationship between economic growth and electricity consumption from renewable and non renewable sources a study of turkey abstract the main objective of this study is to analyze the short and long run estimates as well as the causality relationships between economic growth gr electricity consumption from renewable sources relc and electricity consumption from non renewable sources nrelc for turkey in a multivariate model wherein capital k and labor l are included as additional variables using the autoregressive distributed lag ardl approach to cointegration the johansen cointegration test and the gregory hansen cointegration test with structural break we show that gr relc nrelc k and l are cointegrated although nrelc has a long run positive effect on gr the long run estimate of relc is negative but insignificant at 5 level of significance the granger causality test based on the vector error correction model reveals the evidence of neutrality hypothesis between relc and gr and between nrelc and gr in turkey in the short run in addition the granger causality runs from relc nrelc k and l to gr as well as from gr relc k and l to nrelc in the long run which supports the existence of growth hypothesis between relc and gr and feedback hypothesis between nrelc and gr in the long run it is advised that policy makers in the turkish government should continue to reduce the share of electricity consumption from renewable sources and encourage the usage of electricity from non renewable sources to have sustainable long run growth rates it is also essential to promote the investment projects to increase the efficiency of electricity generation from non renewable sources

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

a re examination of the relationship between electricity consumption and economic growth in malaysia abstract the purpose of this study is to re investigate the relationship between electricity consumption and economic growth in malaysia from 1972 1 to 2003 4 this study adopted the newly developed ecm based f test kanioura a turner p 2005 critical values for an f test for cointegration in the multivariate model applied economics 37 3 265 270 for cointegration to examine the presence of long run equilibrium relationship through the autoregressive distributed lag ardl model the empirical evidence suggests that electricity consumption and economic growth are not cointegrated in malaysia however the standard granger s test and mwald test suggest that electricity consumption and economic growth in malaysia granger causes each other this finding provides policymakers with a better understanding of electricity consumption and allows them to formulate electricity consumption policy to support the economic development and to enhance the productivity of capital labour and other factors of production for future economic growth in malaysia

electricity consumption and economic growth exploring panel specific differences abstract in this paper we examine the long and short run dynamics between electricity consumption and economic activities using panel data of per capita electricity consumption and per capita gdp of 160 countries for the period of 1980 2010 accounting for the degree of electricity dependence and the level of urbanization furthermore in order to capture the differences in this relationship the full sample is divided into various subsamples based on countries income levels regional locations and oecd memberships this framework is argued and found to be appropriate since the causal links and inferences arising therefrom differ considerably among the subsamples which led us to conclude that the electricity growth nexus is highly sensitive to regional differences countries income levels urbanization rates and supply risks

an examination of the equilibrium specification and structure of production for canadian telecommunications multiple output models of canadian telecommunications production are estimated under different production equilibria a specification test is conducted between the short and long run equilibrium models and the long run equilibrium is rejected in order to capture the nature of the disequilibrium a dynamic cost of adjustment model is estimated for bell canada there are significant adjustment costs and it is estimated that for 1 00 of marginal capital costs the carrier must incur an additional cost of 0 30 to install the new capital into the production process

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

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

the electricity consumption versus economic growth of the polish economy abstract the aim of this contribution is an investigation of causal interdependences between electricity consumption and gdp in poland our research was conducted for total electricity consumption as well as for the industrial consumption of electricity in order to reflect the causality between gdp and electricity consumption properly we performed our investigations in a three dimensional framework with employment chosen as an additional variable we used reliable quarterly data from the period q1 2000 q4 2009 in order to check the stability of the causalities the investigations were performed on two samples a full sample and a pre crisis i e q1 2000 q3 2008 subsample we applied both traditional methods and some recently developed econometric tools we found feedback between total electricity consumption and gdp as well as between total electricity consumption and employment we also found unidirectional causality running from industrial electricity consumption to employment and no direct causal links between industrial electricity consumption and gdp in addition all these findings were in general not seriously affected by the financial and economic crises of 2008 a significant exception is the causal effect of industrial electricity consumption on employment which was more pronounced after the crisis of 2008

multivariate granger causality between electricity consumption exports and gdp evidence from a panel of middle eastern countries this paper examines the causal relationship between electricity consumption exports and gross domestic product gdp for a panel of middle eastern countries we find that for the panel as a whole there are statistically significant feedback effects between these variables a 1 per cent increase in electricity consumption increases gdp by 0 04 per cent a 1 per cent increase in exports increases gdp by 0 17 per cent and a 1 per cent increase in gdp generates a 0 95 per cent increase in electricity consumption the policy implications are that for the panel as a whole these countries should invest in electricity infrastructure and step up electricity conservation policies to avoid a reduction in electricity consumption adversely affecting economic growth further policy implications are that for the panel as a whole promoting exports particularly non oil exports is a means to promote economic growth and that expansion of exports can be realized without having adverse effects on energy conservation policies

renewable and non renewable energy consumption growth nexus evidence from a panel error correction model abstract unlike previous renewable energy consumption growth studies this study examines the relationship between renewable and non renewable energy consumption and economic growth for 80 countries within a multivariate panel framework over the period 1990 2007 the pedroni 1999 2004 heterogeneous panel cointegration test show a long run equilibrium relationship between real gdp renewable energy consumption non renewable energy consumption real gross fixed capital formation and the labor force with the respective coefficient estimates positive and statistically significant there is little difference in the elasticity estimates with respect to renewable and non renewable energy consumption the results from the panel error correction model reveal bidirectional causality between renewable and non renewable energy consumption and economic growth in both the short and long run also there is bidirectional short run causality between renewable and non renewable energy consumption indicative of substitutability between the two energy sources

applied econometrics and implications for energy economics research abstract developments in applied econometrics particularly with regard to unit root tests and cointegration tests have motivated a rich empirical literature on energy economics over the last decade this study reviews recent developments in time series econometrics applications in the energy economics literature we first consider the literature on the integration properties of energy variables we begin with a discussion of the implications of whether energy variables contain a unit root and proceed to examine how results differ according to the specific unit root or stationarity test employed we then proceed to examine recent developments in the literature on cointegration granger causality and long run estimates between disaggregated energy consumption and economic growth we review both single country and panel studies and pay particular attention to studies which have expanded the literature through adding variables such as financial development and trade in addition to energy consumption to the augmented production function as well as studies which have extended the literature through examining disaggregated energy consumption by type in each case we highlight best practice in the literature point to limitations in the literature including econometric modeling challenges and suggest recommendations for future research a key message of our survey is that the profession needs to guard against overload of research in these areas as most applied studies are no longer adding anything more to what is already known

are energy conservation policies effective without harming economic growth in the gulf cooperation council countries abstract this study explores the fossil fuels electricity consumption growth of the gross domestic product gdp relationship in the six gulf cooperation council gcc countries for the period 1980 2012 the aim of this study is to examine whether energy conservation policies are appropriate for these countries to reduce their high levels of electricity consumption the autoregressive distributed lag ardl and the toda yamamoto dolado lutkepohl tydl methodologies were employed to investigate this relationship the ardl results revealed that fossil fuels electricity consumption has a long run positive effect on gdp growth in the gcc countries however the tydl granger causality revealed different causality relationships among the countries a bi directional causality was found between fossil fuels electricity consumption and gdp growth in bahrain and the united arab emirates uae while one way causality from fossil fuels electricity consumption to gdp growth was found in oman and qatar on the other hand no causality was concluded between the variables in kuwait and saudi arabia from the results it is clear that energy conservation is not an ideal policy for the bahrain uae oman and qatar because it will have a negative consequence on their output however this policy can be implemented in kuwait and saudi arabia since it will not harm their output

electricity consumption and economic growth in china abstract this paper applies the error correction model to examine the causal relationship between electricity consumption and real gdp for china during 1971 2000 our estimation results indicate that real gdp and electricity consumption for china are cointegrated and there is unidirectional granger causality running from electricity consumption to real gdp but not vice versa in order to overcome the constraints on electricity consumption the chinese government has to speed up the nation wide interconnection of power networks to upgrade urban and rural distribution grids and to accelerate rural electrification

electricity consumption growth nexus evidence from panel data for transition countries abstract this paper investigates the long run relationship and causality issues between electricity consumption and economic growth in 15 transition countries albania belarus bulgaria czech republic estonia latvia lithuania macedonia moldova poland romania russian federation serbia slovak republic and ukraine by using the pedroni panel cointegration method for the 1990 2006 period results suggest that the pedroni panel cointegration tests do not confirm a long term equilibrium relationship between electricity consumption per capita and real gdp per capita moreover since no cointegration was found error correction mechanisms plus causality tests cannot be run for further steps in the long term to investigate the causality between electricity consumption and economic growth overall it can be said that the electricity consumption related policies have no effect or relation on the level of real output in the long run for these countries as a conclusion the literature has conflicting results and there is no consensus either on the existence or the direction of causality between electricity consumption and economic growth thus the findings of this study have important policy implications and it shows that this issue still deserves further attention in future research

the causal relationship between electricity consumption and economic growth in the asean countries abstract this paper investigates the causal relationship between electricity consumption and economic growth among the association of south east asian nations asean 4 members namely indonesia malaysia singapore and thailand using modern time series techniques for the period 1971 2002 the results indicate that there is a bi directional causality between electricity consumption and economic growth in malaysia and singapore this means that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption in the two countries however uni directional causality runs from economic growth to electricity consumption in indonesia and thailand without any feedback effect thus electricity conservation policies can be initiated without deteriorating economic side effects in the two countries

information aggregation and policy the function of monetary policy to alter the informational content of money price signals is examined in a model where traders can observe an economy wide financial signal and a local commodity price under a passive policy money demand disturbances which are not directly observable are shown to be confused with real productivity shocks and thereby preclude prices from fully reflecting all information even when the policy authority has no informational advantage prospective money growth feedback rules can improve the structure of available information applications of the rational expectations hypothesis to monetary theory have focused on the informational aspects of money price signals a key element of the models of lucas 1972 1975 barro 1976 and sargent and wallace 1975 is that agents have limited powers of information acquisition and use prices as imperfect summaries from the rest of the world those works have suggested that monetary policy can affect the informational content of observed price signals and thereby affect real variables in weiss 1980a it was shown systematic money growth feedback rules can contribute to economic efficiency when the money demands of one group are based on factors not directly observed by all in this context monetary policy can alter the information content transmitted from the informed to the uninformed through observation of nominal price signals a limitation of these analyses is the omission of economy wide financial signals clearly stock and bond prices are observed accurately and costlessly empirically there are strong comovements between financial signals and economic activity traditional keynesian theory argues that financial signals exert an important influence on output by affecting the demand for new capital goods understanding the informational role of such signals is crucial to any theory which explains fluctuations as arising from incomplete information the present analysis investigates the structure of available information with its implications for real variables in a model where agents trade on both an economy wide capital market and a local commodity market the model has positive implications for the comovements of money demand disturbances aggregate investment expected and realized returns as well as normative implications for the conduct of policy the structure of exogenous information in the model differs from that of my earlier paper rather than assuming two types of traders informed and uninformed the model considers traders to have symmetric although noisy exogenous private information in this framework the economy wide market both aggregates and transmits individuals information about an aggregate structural variable this modification is both analytically convenient and illustrates how noise in the price system alters the importance of public relative to private sources of information the idea that prices aggregate individual information was first formalized in grossman 1976 in that paper a non monetary model of a speculative market was developed in which the price system conveyed all relevant information so as to yield an efficient allocation however this feature was also shown to break down if prices are influenced by

electricity consumption and economic growth bounds and causality analyses of opec members this paper investigates the relationship between electricity consumption and economic growth for opec members the bounds test yields evidence of a long run relationship between electricity consumption and economic growth for all opec members causality results suggest that economic growth is dependent on electricity consumption in five countries less dependent in three countries and independent in three countries because these countries do not necessarily share similar political and economic traits no single universal policy implication can be inferred from the results the disparities across these causality results therefore stress the importance of formulating causality explanations while taking into account the particularities of individual countries rather than blindly applying the conventional interpretations

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

electricity consumption and economic growth in transition countries a revisit using bootstrap panel granger causality analysis abstract the purpose of this paper is to revisit the granger causal relationship between electricity consumption and economic growth for 15 transition economies for the period 1975 2010 using a bootstrap panel causality approach that allows for both cross sectional dependency and for heterogeneity across countries applying this approach we found a unidirectional causality running from electricity consumption to economic growth only in belarus and bulgaria from economic growth to electricity consumption in the czech republic latvia lithuania and the russian federation bidirectional causality only in ukraine while no granger causality in any direction in albania macedonia moldova poland romania serbia slovak republic and slovenia these results show that there is a limited support for the electricity led growth hypothesis nevertheless these different findings provide important implications for energy strategies and policies for transition countries

electricity consumption and economic growth evidence from turkey abstract this study investigates the causal relationship between electricity consumption and real gdp in turkey during the period of 1950 2000 both of the series were found to be a stationary process around a structural break by the zivot and andrews test thus two different methodologies have been employed to test the granger non causality the dolado lutkepohl test using the vars in levels and the standard granger causality test using the detrended data both tests have yielded a strong evidence for unidirectional causality running from the electricity consumption to the income this implies that the supply of electricity is vitally important to meet the growing electricity consumption hence to sustain the economic growth in turkey

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

electricity consumption from renewable and non renewable sources and economic growth evidence from latin american countries abstract this study explores the effect of renewable and non renewable electricity consumption on economic growth in 18 latin american countries to achieve the goal of this study a panel gross domestic product gdp model was constructed taking the period 1980 2010 into account from the pedroni cointegration test results it was found that renewable electricity consumption non renewable electricity consumption labor gross fixed capital formation and total trade are cointegrated moreover the panel dynamic ordinary least squares dols test results revealed that all above the mentioned variables have a long run positive effect on gdp growth in the investigated countries the vector error correction vec granger causality model results revealed the existence of feedback causality between the variables the results of the study indicated that renewable electricity consumption is more significant than non renewable electricity consumption in promoting economic growth in the investigated countries in the long run and the short run based on the results of this study it is recommended that the investigated countries should increase their investment on renewable energy projects to increase the role of electricity consumption from renewable sources in addition it is essential that these countries should reduce their non renewable electricity consumption by increasing their energy efficiency and implementing energy saving projects by applying these recommendations these countries would be able to mitigate global warming and reduce their dependency on fossil fuel to increase their energy security

does renewable energy consumption add in economic growth an application of auto regressive distributed lag model in pakistan abstract the objective of the study is to examine the relationship between renewable energy consumption and economic growth by incorporating capital and labour as potential determinants of production function in case of pakistan this study used auto regressive distributed lag ardl model and rolling window approach rwa for cointegration in context of pakistan the study used quarterly data over the period of 1972q1 2011q4 the causality analysis applied through vecm granger causality and innovative accounting approaches the results reveal that all the variables in the study are cointegrated that shows the long run relationship between the variables furthermore renewable energy consumption capital and labour boost economic growth the causality analysis shows the feedback effect between economic growth and renewable energy consumption

a structural var analysis of electricity consumption and real gdp evidence from the g7 countries in this paper we depart from the literature on electricity consumption real gdp in that for the first time we examine the reaction of real gdp to shocks in electricity consumption to achieve this goal we use the structural vector autoregressive svar model and examine the impact of electricity consumption shocks on real gdp for the g7 countries we find that except for the usa electricity consumption has a statistically significant positive impact on real gdp over short horizons this finding implies that except for the usa electricity conservation policies will hurt real gdp in the g7 countries

renewable energy consumption and economic growth evidence from a panel of oecd countries abstract this study examines the relationship between renewable energy consumption and economic growth for a panel of twenty oecd countries over the period 1985 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 the heterogeneous panel cointegration test reveals a long run equilibrium relationship between real gdp renewable energy consumption real gross fixed capital formation and the labor force with the respective coefficients positive and statistically significant the granger causality results indicate bidirectional causality between renewable energy consumption and economic growth in both the short and long run

renewable energy consumption economic growth nexus for china abstract the aim of this paper is to investigate the relationship between renewable energy consumption and economic growth in china for the period 1977 2011 autoregressive distributed lag approach ardl to cointegration and johansen cointegration techniques are employed by including intermittent variables namely carbon dioxide emissions and labor we also employed granger causality test in order to determine the direction of the causality among the variables the results show that there is a bi directional long term causality between renewable energy consumption and economic growth this finding implies that growing economy in china is propitious for the development of renewable energy sector which in turn helps to boost economic growth we also find that labor influences renewable energy consumption in the short term however there is no evidence of long or short run causality between carbon emissions and renewable energy consumption this implies that actual level of renewable energy in china is still insignificant and not considerably exploited in order to contribute to the mitigation of carbon dioxide emissions

electricity generation mix and economic growth what role is being played by nuclear sources and carbon dioxide emissions in france abstract the gradual trend towards the electrification of economies has raised new challenges focusing on france this paper uses monthly data from january 2010 to november 2014 to study the challenge of the simultaneous integration of various sources of generation and their relationship with economic growth for the analysis of the dynamics of interaction between electricity sources the auto regressive distributed lag ardl bounds test approach was shown to be appropriate as it allows short and long run effects to be distinguished the results showed that nuclear energy has been a huge driver of economic growth in france and at the same time leads to an environment with lower co 2 emissions renewables were shown to exert a negative effect on economic growth which could be due to lack of investment in other sources of production due to the resilient position held by nuclear sources the substitution effect among sources is noticeable the robustness of the results was checked using annual data from 1970 until 2012 and the results were comparable to those from the monthly data

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

economic welfare impacts from renewable energy consumption the china experience over the last years renewable energy sources have increased their share on electricity generation of china due to environmental and security of supply concerns in this work author assesses the role of both the amount and share of renewable energy consumption in economic welfare using cobb douglas type production functions this assessment is carried out by multivariate ols and spss software for china from 1978 to 2008 results indicate that a 1 increase in renewable energy consumption rec increases real gdp by 0 120 gdp per capita by 0 162 per capita annual income of rural households by 0 444 and per capita annual income of urban households by 0 368 respectively the impact of renewable energy consumption share srec on economic welfare is insignificant and an increasing share of rec negatively affects economic welfare growth to a certain extent in this paper the cost structural demand accounting mechanism and policy reasons of renewable energy development are interpreted marginal effects analysis show that the shape of sound and robust renewable energy institutions and policies would matter for increasing the standards of economic welfare in the context of speeding up renewable energy development and increasing share of renewable energy consumption especially the goal oriented policy refinement should be addressed efficiently in improvement households income while increasing share of renewable energy consumption c 2011 elsevier ltd all rights reserved

nuclear energy consumption oil prices and economic growth evidence from highly industrialized countries this study utilizes the johansen cointegration technique the granger non causality test of toda and yamamoto 1995 the generalized impulse response function and the generalized forecast error variance decomposition to examine the dynamic interrelationship among nuclear energy consumption real oil price oil consumption and real income in six highly industrialized countries for the period 1965 2008 our empirical results indicate that the relationships between nuclear energy consumption and oil are as substitutes in the u s and canada while they are complementary in france japan and the u k second the long run income elasticity of nuclear energy is larger than one indicating that nuclear energy is a luxury good third the results of the granger causality test find evidence of unidirectional causality running from real income to nuclear energy consumption in japan a bidirectional relationship appears in canada germany and the u k while no causality exists in france and the u s we also find evidence of causality running from real oil price to nuclear energy consumption except for the u s and causality running from oil consumption to nuclear energy consumption in canada japan and the u k suggesting that changes in price and consumption of oil influence nuclear energy consumption finally the results observe transitory initial impacts of innovations in real income and oil consumption on nuclear energy consumption in the long run the impact of real oil price is relatively larger compared with that of real income on nuclear energy consumption in canada germany japan and the u s

renewable energy consumption and growth in eurasia this study examines the causal relationship between renewable energy consumption and economic growth for 13 countries within eurasia over the period 1992 2007 within a multivariate panel data framework the heterogeneous panel cointegration test reveals a long run equilibrium relationship exists between real gdp renewable energy consumption real gross fixed capital formation and labor force the results from the error correction models indicate bidirectional causality between renewable energy consumption and economic growth in both the short run and long run thus the empirical findings lend support for the feedback hypothesis of the interdependent relationship between renewable energy consumption and economic growth

a literature survey on energy growth nexus abstract this paper provides a survey of the recent progress in the literature of energy consumption economic growth and electricity consumption economic growth causality nexus the survey highlights that most empirical studies focus on either testing the role of energy electricity in stimulating economic growth or examining the direction of causality between these two variables although the positive role of energy on growth has become a stylized fact there are some methodological reservations about the results from these empirical studies a general observation from these studies is that the literature produced conflicting results and there is no consensus neither on the existence nor on the direction of causality between energy consumption electricity consumption and economic growth as a policy implication to avoid from conflicting and unreliable results the authors may use the autoregressive distributed lags bounds test two regime threshold co integration models panel data approach and multivariate models including new variables such as real gross fixed capital formation labor force carbon dioxide emissions population exchange rates interest rates etc thus the authors should focus more on the new approaches and perspectives rather than by employing usual methods based on a set of common variables for different countries and different intervals of time

the causal relationship between renewable electricity generation and gdp growth a study of energy sources abstract this paper examines the causal relationship between economic growth and electricity generation from renewable sources biomass geothermal hydroelectric solar waste and wind across 20 oecd countries over 1990 to 2008 the results from a commonly used panel error correction model find a a bidirectional relationship between aggregate renewable generation and real gdp b biomass hydroelectricity waste and wind energy exhibit a positive long run relationship with gdp c hydroelectricity and waste generation exhibit a short run positive bidirectional relationship with gdp growth and d biomass hydroelectric and waste electricity generation have the largest impact on real gdp in the long run we extend the analysis to consider the possibility of structural breaks and cross sectional dependence accounting for cross sectional dependence we find that in the short run increases in biomass and waste generation negatively affect gdp while aggregate renewable and hydroelectricity increase gdp energy conservation policies will positively impact gdp if the policies cause decreases in biomass or waste energy but increase hydroelectricity and wind energy