factor demand technical change and inter fuel substitution in africa abstract the translog production function has been widely used in applied production analysis due to its flexibility and superiority over other functional forms this study develops a translog production function for a group of african countries the random effects model is estimated using generalized least squares estimator the main findings are first output in africa is driven by a more intensive use of petroleum and electricity and to a lesser extent capital labor and coal relative to technological progress second african production technology exhibits increasing returns to scale suggesting a path towards market entry barriers third technical change is scale biased and factor augmenting albeit very slow fourth all energy inputs are substitutes indicating africa s potential to proportionally switch towards cleaner fuels without adversely affecting economic growth finally and perhaps more generally the study reinforces the assertion that imposing restrictions like homotheticity homogeneity or separability on the production technology is unrealistic and should rather be a testable hypothesis within any applied analysis in view of the documented findings relevant implications for africa are discussed

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

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

semi nonparametric estimates of interfuel substitution in u s energy demand abstract this paper focuses on the demand for crude oil natural gas and coal in the united states in the context of two globally flexible functional forms the fourier and the asymptotically ideal model aim estimated subject to full regularity using methods suggested over 20 years ago by gallant and golub gallant a ronald and golub gene h imposing curvature restrictions on flexible functional forms journal of econometrics 26 1984 295 321 and recently used by serletis and shahmoradi serletis a shahmoradi a 2005 semi nonparametric estimates of the demand for money in the united states macroeconomic dynamics 9 542 559 in the monetary demand systems literature we provide a comparison in terms of a full set of elasticities and also a policy perspective using for the first time parameter estimates that are consistent with global regularity

energy consumption and economic development in sub sahara africa sub saharan african countries economic development is dependent on energy consumption this paper assesses total energy demand which is composed of traditional energy wood fuel and commercial energy electricity and petroleum in the central east south and west regions of sub saharan africa cross sectional time series data for 20 countries in 25 years are analyzed and the results of the study show that wood fuel accounts for 70 of energy consumption followed by petroleum with most industrial activities utilizing some form of wood fuel regression results suggest that energy demand is inversely related to the price of petroleum and industrial development but positively related to gdp population growth rate and agricultural expansion and that price elasticity is less than one the model results also show that there are regional differences in energy demand in addition the interaction of population growth rates by regions generates mixed results and there are regional differences in the use of commercial energy consumption and gdp growth the findings of this study suggest that countries must diversify their energy sources and introduce energy efficient devices and equipment at all levels of the economy to improve gdp growth rate and gdp per capita

weaving straw into gold managing organizational tensions between standardization and flexibility in microfinance this article explores how organizations balance the pressures to pursue efficiency through standardization with the need to remain responsive to local needs the study combines rich ethnography with detailed loan data to show that both standardization and flexibility through relational ties provide substantial organizational benefits but also carry significant costs thus no strategy is inherently superior and their coexistence generates the best results such coexistence however creates contradictions that must be managed here i use microfinance as a strategic setting and gain analytic leverage from the random assignment across branches of loan officers who exhibit significant heterogeneity in rule enforcement styles some enforce rules strictly whereas others frequently bend them to respond to client needs i find that loan officers with relational styles exercise discretion productively to enhance organizational performance yet their effectiveness is contingent on the presence of rule enforcing peers as evidenced by the significant underperformance of branches with a high concentration of officers of either type in contrast branches that contain discretionary diversity or a balance between enforcement styles perform best this is not due to diversity per se but because loan officers process decisions in local credit committees committees that contain discretionary diversity generate a productive tension that induces participants to justify decisions along broader organizational goals thus maintaining a productive balance between standardization and flexibility implications for organizational theory and practice are discussed

energy consumption and economic growth in south africa reexamined a nonparametric testing apporach this paper is an effort to investigate claims concerning granger causality relationship from energy consumption to economic growth in south africa we adopt a nonparametric bootstrap method to reassess evidence supporting granger causality and unravel findings of long run unidirectional causality running from energy consumption to economic growth this implies that energy conservation policies will negatively impact economic growth in south africa in addition the results of this study have implications on co2 emissions in south africa given that coal accounts for about 72 of energy this suggests that energy use would have a long run effect of raising the country s co2 emission levels hence there might be a need to develop a more balanced energy structure which will include higher share of renewable energy a further monte carlo experiment performed reveals that asymptotic granger causality test suffers size distortion problem for south african data these findings provide support for use of a bootstrap methodology and also imply that the results presented in this study are likely to be more reliable

separability functional form and regulatory policy in models of interfuel substitution abstract counter intuitive results such as positive own price elasticities have been found in some studies of interfuel substitution this paper examines three possible reasons for this problem first including energy materials in petroleum and coal aggregates is found to contribute to incorrect signs second the mathematical properties of the translog function contribute to concavity violations in contrast the linear logit model of cost shares is found to provide more sensible estimates of own price elasticities across alternative model specifications finally natural gas curtailment policies and environmental regulations are found to be significant factors influencing us industrial fuel demand although omission of these factors does not directly contribute to curvature violations

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

estimates of inter fuel substitution possibilities in chinese chemical industry abstract the chemical sector is a key driver of china s remarkable growth record and accounts for about 10 of the country s gdp this has made the industry energy intensive and consequently a major contributor to greenhouse gas emissions ghg and other pollutants this study has attempted to investigate the potential for inter fuel substitution between coal oil natural gas and electricity in chinese chemical sector by employing a translog production and cost function ridge regression procedure was adopted to estimate the parameters of the function estimation results show that all energy inputs are substitutes in addition the study produces evidence that the significant role of coal in the chinese chemical fuel mix converges over time albeit slowly these results suggest that price based policies coupled with capital subsidy programs can be adopted to redirect technology use towards cleaner energy sources like electricity and natural gas hence retaining the ability to fuel the chemical sector while also mitigating ghg emissions notwithstanding one must understand that the extent to which substituting electricity for coal will be effective depends on the extent to which coal or oil is used in generating electricity the findings of this study provide general insights and underscore the importance of chinese government policies that focus on installed capacity of renewable electricity energy intensity targets as well as merger of enterprises

causality analysis of diesel consumption and economic growth in cameroon abstract this study examines the causal relationship between diesel consumption and economic growth in cameroon by using a three step modern time series technique tests for unit roots cointegration and granger causality based on error correction model are employed on annual data covering the period 1975 2008 empirical results of the study confirm the presence of a long run equilibrium relationship between diesel consumption and economic growth the error correction model shows that an estimated 1 increase in economic growth causes a rise in diesel consumption of 1 30 in the long run the overall results show that there exists bidirectional causality in the long run relationship and no causality in the short run relationship between diesel consumption and economic growth at the 5 level of significance thus the energy policies in cameroon should place priority on the discovery of new oil field and building capacity additions of the refinery to increase production of petroleum products as this would propel the economic growth of the country

energy consumption carbon emissions and economic growth in saudi arabia an aggregate and disaggregate analysis the objective of this study is to examine the relationship among economic growth carbon emissions and energy consumption at the aggregate and disaggregate levels for the aggregate energy consumption model we use total energy consumption per capita and co2 emissions per capita based on the total energy consumption for the disaggregate analysis we used oil gas and electricity consumption models along with their respective co2 emissions the long term income elasticities of carbon emissions in three of the four models are positive and higher than their estimated short term income elasticities these results suggest that carbon emissions increase with the increase in per capita income which supports the belief that there is a monotonically increasing relationship between per capita carbon emissions and per capita income for the aggregate model and for the oil and electricity consumption models the long and short term income elasticities of carbon emissions are negative for the gas consumption model this result indicates that if the saudi arabian economy switched from oil to gas consumption then an increase in per capita income would reduce carbon emissions the results also suggest that electricity is less polluting than other sources of energy

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

economic growth and electricity consumption in cote d ivoire evidence from time series analysis this paper examines the causal relationship between the electric power industry and the economic growth of cote d ivoire using the data from 1971 to 2008 a test was conducted for the cointegration and granger causality within an error correction model results from these tests reveal a bidirectional causality between per capita electricity consumption and per capita gdp a unidirectional causality running from electricity consumption to industry value added appears in the short run economic growth is found to have great effects on electricity consumption and a reverse causality from electricity to economic growth may also appear in the long run there is a unidirectional causality between electricity and both gdp and industry value added from these findings we conclude that the country will be energy dependent in the long run and must therefore secure the production network from shortfalls to ensure a sustainable development path accordingly government should adopt policies aimed at increasing the investment in the sector by stepping up electricity production from existing and new energy sources

a real options valuation of chinese wind energy technologies for power generation do benefits from the feed in tariffs outweigh costs abstract in order to assess the viability of wind energy projects in china this paper takes a real options approach by accounting for flexibility over deployment of the technology in response to a stochastic non renewable energy cost the difference between the latter and the r d enhanced cost of renewable energy operation may be thought of as a benefit from using wind on the other hand the chinese government provides feed in tariffs to encourage further adoption of wind which should be included as a cost this work thus shows that there is substantial options value to china s wind energy program which is bolstered if the cost of carbon dioxide emissions is internalized moreover by varying the rate of feed in tariffs the model may be used to show plausible ranges for the feed in tariffs which could be a useful policy insight furthermore the study hypothesizes that with the likelihood of renewable energy to replace non renewable energy wind power in china can potentially reduce co2 emissions by approximately 6 4 by 2020 comparing to the 2005 level and highlights the significant role of wind power in china s emission targets and energy security this is a relevant paper especially given the importance of a sustainable energy transition for china more generally using the real options approach from a policy perspective could provide insights about the viability of renewable energy programs and robustness of feed in tariffs rates

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

bounds test approach to cointegration and causality between nuclear energy consumption and economic growth in india abstract this paper attempts to examine the dynamic relationship between economic growth nuclear energy consumption labor and capital for india for the period 1969 2006 applying the bounds test approach to cointegration developed by pesaran et al 2001 we find that there was a short and a long run relationship between nuclear energy consumption and economic growth using four long run estimators we also found that nuclear energy consumption has a positive and a statistically significant impact on india s economic growth further applying the toda and yamamoto 1995 approach to granger causality and the variance decomposition approach developed by pesaran and shin 1998 we found a positive and a significant uni directional causality running from nuclear energy consumption to economic growth without feedback this implies that economic growth in india is dependent on nuclear energy consumption where a decrease in nuclear energy consumption may lead to a decrease in real income for a fast growing energy dependent economy this may have far reaching implications for economic growth india s economic growth can be frustrated if energy conservation measures are undertaken without due regard to the negative impact they have on economic growth

disaggregated energy consumption and gdp in taiwan a threshold co integration analysis abstract energy consumption growth is much higher than economic growth for taiwan in recent years worsening its energy efficiency this paper provides a solid explanation by examining the equilibrium relationship between gdp and disaggregated energy consumption under a non linear framework the threshold co integration test developed with asymmetric dynamic adjusting processes proposed by hansen and seo hansen b e seo b 2002 testing for two regime threshold cointegration in vector error correction models journal of econometrics 110 293 318 is applied non linear co integrations between gdp and disaggregated energy consumptions are confirmed except for oil consumption the two regime vector error correction models vecm show that the adjustment process of energy consumption toward equilibrium is highly persistent when an appropriately threshold is reached there is mean reverting behavior when the threshold is reached making aggregate and disaggregated energy consumptions grow faster than gdp in taiwan

electricity consumption and economic growth nexus in portugal using cointegration and causality approaches the aim of this paper is to re examine the relationship between electricity consumption economic growth and employment in portugal using the cointegration and granger causality frameworks this study covers the sample period from 1971 to 2009 we examine the presence of a long run equilibrium relationship using the bounds testing approach to cointegration within the unrestricted error correction model uecm moreover we examine the direction of causality between electricity consumption economic growth and employment in portugal using the granger causality test within the vector error correction model vecm as a summary of the empirical findings we find that electricity consumption economic growth and employment in portugal are cointegrated and there is bi directional granger causality between the three variables in the long run with the exception of the granger causality between electricity consumption and economic growth the rest of the variables are also bi directional granger causality in the short run furthermore we find that there is unidirectional granger causality running from economic growth to electricity consumption but no evidence of reversal causality

cointegration and causal relationships between energy consumption and output assessing the evidence from australia in this paper we describe our investigation of the cointegration and causal relationships between energy consumption and economic output in australia over a period of five decades the framework used in this paper is the single sector aggregate production function which is the first comprehensive approach used in an australian study of this type to include energy capital and labour as separate inputs of production the empirical evidence points to a cointegration relationship between energy and output and implies that energy is an important variable in the cointegration space as are conventional inputs capital and labour we also find some evidence of bidirectional causality between gdp and energy use although the evidence of causality from energy use to gdp was relatively weak when using the thermal aggregate of energy use once energy consumption was adjusted for energy quality we found strong evidence of granger causality from energy use to gdp in australia over the investigated period the results are robust irrespective of the assumptions of linear trends in the cointegration models and are applicable for different econometric approaches

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

renewable energy consumption economic growth nexus in turkey abstract this paper examines the renewable energy consumption economic growth causality nexus in turkey studies in the literature can be grouped as country specific and multi country studies the results of these studies are inconsistent and there is no agreement on the existence or the direction of causality between renewable energy consumption and economic growth the results of this country specific study support conservation hypothesis the results of empirical tests from ardl approach show that renewable energy consumption has a negative impact on economic growth and the ones of toda yamamoto causality tests show that there is a unidirectional causality running from economic growth to renewable energy consumption

electricity consumption employment and real income in australia evidence from multivariate granger causality tests this paper examines the relationship between electricity consumption employment and real income in australia within a cointegration and causality framework we find that electricity consumption employment and real income are cointegrated and that in the long run employment and real income granger cause electricity consumption while in the short run there is weak unidirectional granger causality running from income to electricity consumption and from income to employment

causality relationship between electricity consumption and gdp in bangladesh in this paper we examine the causal relationship between the per capita electricity consumption and the per capita gdp for bangladesh using cointegration and vector error correction model our results show that there is unidirectional causality from per capita gdp to per capita electricity consumption however the per capita electricity consumption does not cause per capita gdp in case of bangladesh the finding has significant implications from the point of view of energy conservation emission reduction and economic development

environmental degradation economic growth and energy consumption evidence of the environmental kuznets curve in malaysia this paper tests for the short and long run relationship between economic growth carbon dioxide co2 emissions and energy consumption using the environmental kuznets curve ekc by employing both the aggregated and disaggregated energy consumption data in malaysia for the period 1980 2009 the autoregressive distributed lag ardl methodology and johansen juselius maximum likelihood approach were used to test the cointegration relationship and the granger causality test based on the vector error correction model vecm to test for causality the study does not support an inverted u shaped relationship ekc when aggregated energy consumption data was used when data was disaggregated based on different energy sources such as oil coal gas and electricity the study does show evidences of the ekc hypothesis the long run granger causality test shows that there is bi directional causality between economic growth and co2 emissions with coal gas electricity and oil consumption this suggests that decreasing energy consumption such as coal gas electricity and oil appears to be an effective way to control co2 emissions but simultaneously will hinder economic growth thus suitable policies related to the efficient consumption of energy resources and consumption of renewable sources are required

residential electricity demand dynamics in turkey abstract this article provides fresh empirical evidences for the income and price elasticies of the residential energy demand both in the short run and long run for turkey over the period 1968 2005 using the bounds testing procedure to cointegration the computed elasticities of income and price are consistent with the previous studies and as expected the long run elasticities are greater than the short run elasticities an augmented form of granger causality analysis is implemented among residential electricity income price and urbanization in the long run causality runs interactively through the error correction term from income price and urbanization to residential energy but the short run causality tests are inconclusive the parameter stability of the short run as well as long run coefficients in the residential energy demand function are tested the results of these tests display a stable pattern

a dynamic analysis of interfuel substitution in u s industrial energy demand using data for 1960 92 to analyze interfuel substitution in the u s industrial sector a dynamic linear logit model is shown to provide superior global properties than a comparable dynamic translog model confirming earlier static results by t j considine 1989 the linear logit model provides a direct unbiased estimate of the rate of dynamic adjustment indicating a median response lag of less than two years excluding fuels used for nonenergy purposes yields larger estimates of the price elasticities for coal and oil and indicates generally greater potential for interfuel substitution than when using aggregate data

substitution possibilities and determinants of energy intensity for china abstract this paper measures technological change factor demand and inter factor and inter fuel substitutability measures for china we use individual fuel price data and a two stage approach to estimate total factor cost functions and fuel share equations both inter factor and inter fuel substitution elasticities are calculated and the change in energy intensity is decomposed into its driving forces the results suggest that energy is substitutable for capital regionally and for labor nationally capital substitutes for energy more easily than labor does energy intensity changes vary by region but the major drivers seem to be budget effect and the adoption of energy intensive technologies which might be embodied in high level energy using exports and sectors capital investment and even old technique and equipment imports whether the trend in rising energy intensity continues will be significant for china and the rest of the world

rentierism energy and economic growth the case of algeria and egypt 1965 2010 abstract the algerian economy is an example of a high level of rentierism while the egyptian economy shows a low moderate level of rentierism the ardl bounds test approach was used upon annual time series data from 1965 to 2010 the results suggest cointegration for both countries bi causality between energy consumption and growth in the long run was found for algeria there is a reversed negative energy growth nexus adding a new relationship to the traditional four causal hypotheses on the energy growth nexus for egypt we found positive elasticity both of oil price and energy which is in line with the mainstream

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

major oecd country industrial sector interfuel substitution estimates 1960 1979 abstract a range of static and dynamic translog based expenditure shares models are estimated for non energy producing industrial sectors of the major seven countries of the oecd area sectoral energy volume and fuel efficiency bias variables are shown to be significant over and above individual prices in explaining individual fuel expenditure shares statistically significant own price and cross price elasticities of demand are presented for individual countries with some magnitudes varying considerably across alternative model specifications

electricity consumption and economic growth in burkina faso a cointegration analysis abstract this study empirically establishes the direction of causality between electricity consumption and economic growth in burkina faso for the period 1968 2003 the bounds test yields evidence of cointegration between electricity consumption gdp and capital formation when electricity consumption and gdp are used as dependent variable causality results indicate that there is no significant causal relationship between electricity consumption and investment estimates however detect in the long run a bidirectional causal relationship between electricity use and real gdp there is also evidence of a positive feedback causal relationship between gdp and capital formation burkina faso is therefore an energy dependent country it is also a country in which electricity consumption is growing with the level of income all of this shows that electricity is a significant factor in socio economic development in burkina faso as such energy policy must be implemented to ensure that electricity generates fewer potential negative impacts

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

electricity consumption and economic growth in china cointegration and co feature analysis abstract this paper applies the cointegration theory to examine the causal relationship between electricity consumption and real gdp gross demostic product for china during 1978 2004 our estimation results indicate that real gdp and electricity consumption for china are cointegrated and there is only unidirectional granger causality running from electricity consumption to real gdp but not the vice versa then hodrick prescott hp filter is applied to decompose the trend and fluctuation component of the gdp and electricity consumption series the estimation results indicate that there is cointegration between not only the trend components but also the cyclical components of the two series which implies that the granger causality is probably related with the business cycle the estimation results are of policy implication to the development of electric sector in china

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

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

effects of energy consumption on per worker output a study of kenya and south africa the paper investigates the long run cointegration relationship and energy elasticities for kenya and south africa over the periods 1978 2009 and 1971 2009 respectively using the ardl procedure developed by pesaran et al 2001 with recomputed critical bounds from narayan 2005 and the solow 1956 framework extended by rao 2010 we also conduct the toda and yamamoto 1995 test for granger non causality the regression results show that short run and long run energy elasticities are 0 50 and 1 71 respectively for kenya and 0 17 and 0 34 respectively for south africa the causality results indicate a unidirectional granger causality running from capital per worker and energy per capita to output per worker for both countries moreover in kenya we detect a strong unidirectional causality a on output from joint consideration of capital stock and energy and b on capital stock from joint consideration of energy and output in south africa the joint causations are neutral hence while energy and capital stock spurs growth in both countries kenya has a greater potential to harness growth and capital productivity via joint consideration of energy with capital and output respectively

income level and the energy consumption gdp nexus evidence from sub saharan africa this study tests the relationship between energy consumption and economic growth in sub saharan africa using a panel co integration approach country level time series data of energy consumption and economic growth are pooled and used to estimate the model sub saharan african countries in the sample are classified into low income and middle income countries the findings support the neutrality hypothesis in the short run except for middle income countries and a strong causation running in both directions is found in the long run the different results for low and middle income countries provide evidence of the importance of income level in the causal relationship this study helps to explain the interdependence of energy consumption and economic growth in sub saharan africa results are critical in formulating sustainable development policies that are geared to the efficient allocation of resources which are expected to increase access to energy services in the study region

can african countries efficiently build their economies on renewable energy abstract the translog production model is estimated to provide insights on the effectiveness of renewable energy for africa the analysis shows that capital labor renewable energy and nonrenewable energy drive output in african countries with renewable energy being a higher driver of growth than the conventional fossil fuels over the sample period this finding is reflective of the fact that renewable sources like wind hydro and solar account for a greater share of power generation in most african countries output elasticities computed for both energy types reaffirm the results and suggest that eastern and central african countries are more renewable energy dependent than the other three regions in addition technological progress is driven mainly by the efficiency with which various factors and energy inputs are used while africa has great potential of facing out conventional fossil energy the discussion provided in this study suggests that such transition is limited in practice due to issues of scale economics and sitting problems

energy economic growth and causality in developing countries a case study of tanzania and nigeria the debate about the precise role of energy in economic development remains contentious existing empirical studies have produced varying results some have argued the complementarity between energy and other factors of production and others have indicated that energy can be substituted for other factors of production commonly these studies have focused primarily on the developed countries one explanation being that supply constraints and price rigidities render any study on factor substitutions in developing countries meaningless however the functional relationship between energy consumption and income in developing countries is constantly investigated with the use of regression techniques while such techniques are useful in empirical analysis no mechanism exists for indicating causal directions between variables this limits the scope for policy analysis and prescription the need to identify causal direction between energy consumption and income growth in developing countries is overwhelming apart from providing further insights into the role of energy in economic development it provides policy analysts with a clearer understanding of the likely impact of energy supply constraints on economic growth this article examines the causal directions between energy consumption and economic growth proxied by gdp and gnp for nigeria and tanzania the results show a simultaneous causal relationship between energy and economic growth for both countries the implication being that unless energy supply constraints are eased economic growth and development will remain elusive to these countries given similar economic characteristics and profiling the same energy scenario for other developing countries our finding supports the view that energy plays a key role in economic development

the importance of electrical energy for economic growth in barbados using a neo classical aggregate production model where capital labour technology and energy are treated as separate inputs this paper tests for the existence and direction of causality between output growth and electrical energy use in barbados analysed as a whole and in sectors respectively results indicate the presence of a long run relationship between growth and electricity consumption specifically we find that the non residential sector is a key driver of growth in addition the evidence reveals a bidirectional causal relationship between electrical energy consumption and real gdp in the long run but only a unidirectional causal relationship from energy to output in the short run forecasts indicate increasing consumption of electrical energy particularly by the residential sector we suggest that plans by the government to liberalise the sector should encourage efficiency and innovation in production and distribution which should result in lower prices as independent suppliers compete to maintain their market shares changes in the regulatory environment will also be necessary if such plans materialise policymakers will need to pay greater attention to the expected increase in the rate of consumption by the residential sector as this will help to reduce the imports of oil and depletion of scarce foreign exchange resources by a sector that does not spur economic growth an increase in energy capacity should be encouraged as contingency planning in the event of a technical or political disruption to fuel imports will be critical notwithstanding the drive to use more renewable sources of energy

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

energy consumption carbon emissions and economic growth nexus in bangladesh cointegration and dynamic causality analysis abstract the paper investigates the possible existence of dynamic causality between energy consumption electricity consumption carbon emissions and economic growth in bangladesh first we have tested cointegration relationships using the johansen bi variate cointegration model this is complemented with an analysis of an auto regressive distributed lag model to examine the results robustness then the granger short run the long run and strong causality are tested with a vector error correction modelling framework the results indicate that uni directional causality exists from energy consumption to economic growth both in the short and the long run while a bi directional long run causality exists between electricity consumption and economic growth but no causal relationship exists in short run the strong causality results indicate bi directional causality for both the cases a uni directional causality runs from energy consumption to co 2 emission for the short run but feedback causality exists in the long run co 2 granger causes economic growth both in the short and in the long run an important policy implication is that energy electricity as well can be considered as an important factor for the economic growth in bangladesh moreover as higher energy consumption also means higher pollution in the long run policy makers should stimulate alternative energy sources for meeting up the increasing energy demand

interfuel substitution in the united states in this paper we use the locally flexible translog functional form to investigate the demand for energy and interfuel substitution in the united states and to provide a comparison of our results with most of the existing empirical energy demand literature motivated by the widespread practice of ignoring theoretical regularity we follow barnett s 2002 suggestions and estimate the model subject to theoretical regularity using methods developed by diewert and wales 1987 and ryan and wales 2000 in an attempt to produce inference consistent with neoclassical microeconomic theory moreover we use the most recent data published by the u s energy information administration eia and in addition to investigating interfuel substitution possibilities in total u s energy demand we follow serletis et al 2009 and also examine interfuel substitution possibilities in energy demand by sector moreover we test for weak separability with the objective of discovering the structure of the functional form in total energy demand as well as energy demand by sector

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

carbon emissions energy consumption and output a threshold analysis on the causal dynamics in emerging african economies abstract following the recent global economic downturn attention has gradually shifted towards emerging economies which have experienced robust growth amidst sluggish growth of the world economy a significant number of these emerging economies are in africa rising growth in these economies is associated with surging demand for energy to propel the engines of growth with direct implications on emissions into the atmosphere further these economies are constantly being shaped by series of structural reforms with direct and indirect effects on growth demand for energy etc to this end this paper examines the causal dynamics among energy use real gdp and co2 emissions in the presence of regime shifts in six emerging african economies using the gregory and hansen 1996a j econ 70 99 126 threshold cointegration and the toda and yamamoto 1995 j econometrics 66 225 250 granger causality techniques results confirm the presence of regime shift effects in the long run inter linkages among energy use real gdp and co2 emissions in the countries considered thus indicating that structural changes have both economic and environmental effects hence integration of energy and environmental policies into development plans is imperative towards attaining sustainable growth and development

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 and economic growth in jamaica abstract this study examines the relationship between electricity consumption and economic growth in jamaica during 1970 86 a period of rapid increase in energy prices the results show that the aggregate demand for electricity is slightly income elastic electricity has a significant impact on economic growth the electricity intensity has increased over time residential demand is fairly income elastic commercial demand is price inelastic and the rate of adjustment is slow these results suggest that conservation policies could be ineffective therefore indigenous sources of electricity are important for jamaica to be less dependent on imported energy

an international literature survey on energy economic growth nexus evidence from country specific studies in this paper an extensive review of the rapidly growing in the literature on the nexus between economic growth and four types of energy consumption total energy consumption electricity consumption nuclear consumption and renewable consumption the various hypotheses associated with the causal interaction between these variables along with a survey of the empirical literature are also discussed the survey focuses on country coverage periods modeling techniques and empirical conclusions a general observation from these studies that results are found to be sensitive to methodology and type of energy considered the empirical results for the specific countries surveyed show that i for energy consumption growth nexus 29 supported the growth hypothesis 27 the feedback hypothesis 23 the conservation hypothesis and 21 the neutrality hypothesis ii for the electricity consumption growth nexus 40 supported the growth hypothesis 33 the feedback hypothesis and 27 conservation hypothesis iii for the nuclear consumption growth nexus 60 supported the neutrality hypothesis and 40 the growth hypothesis and iv for the renewable consumption growth nexus 40 supported the neutrality hypothesis 40 the conservation hypothesis and 20 the growth hypothesis these mixed results may be attributed to the different used data selected variables and econometric approaches undertaken

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

threshold cointegration and causality relationship between energy use and growth in seven african countries abstract the paper investigates the long run and the causality relationship between energy consumption and economic growth for seven sub saharan african countries during the period 1970 2007 using the gregory and hansen 1996a 1996b testing approach to threshold cointegration we find that energy consumption is cointegrated with economic growth in cameroon cote d ivoire ghana nigeria and south africa moreover this test suggests that economic growth has a significant positive long run impact on energy consumption in these countries before 1988 and this effect becomes negative after 1988 in ghana and south africa furthermore causality tests suggest bidirectional causality between energy consumption and real gdp in cote d ivoire and unidirectional causality running from real gdp to energy usage in the case of congo and ghana

electricity consumption growth nexus the case of malaysia abstract the goal of this paper is to model the relationship between electricity consumption and real gross domestic product gdp for malaysia in a bivariate and multivariate framework we use time series data for the period 1971 2003 and apply the bounds testing approach to search for a long run relationship our results reveal that electricity consumption real gdp and price share a long run relationship the results of the autoregressive distributed lag ardl estimates of long run elasticity of electricity consumption on gdp are found to be around 0 7 and statistically significant finally in the short run the results of the causality test show that there is a unidirectional causal flow from electricity consumption to economic growth in malaysia from these findings we conclude that malaysia is an energy dependent country leading us to draw some policy implications this paper adds support and validity thus reducing the policy makers concern on the ambiguity of the electricity and growth nexus in malaysia

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

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 pollutant emissions and economic growth in south africa article i nfo article history this paper examines the long run and the causal relationship between economic growth pollutant emissions and energy consumption for south africa for the period 1965 2006 in a multivariate framework which includes labour and capital as additional variables using the bound test approach to cointegration we found a short run as well as a long run relationship among the variables with a positive and a statistically significant relationship between pollutant emissions and economic growth further applying a modified version of the granger causality test we also found a unidirectional causality running from pollutant emissions to economic growth from energy consumption to economic growth and from energy consumption to co2 emissions all without a feedback the econometric evidence suggests that south africa has to sacrifice economic growth or reduce its energy consumption per unit of output or both in order to reduce pollutant emissions in the long run however it is possible to meet the energy needs of the country and at the same time reduce co2 emissions by developing energy alternatives to coal the main source of co2 emissions however the econometric results upon which the policy suggestions are made should be interpreted with care as they may not be sufficiently robust enough to categorically warrant the choice of an unpalatable policy option by south africa

oil price fluctuation volatility spillover and the ghanaian equity market implication for portfolio management and hedging effectiveness abstract this study attempts to contribute to the literature on stock markets and energy prices by examining the dynamic volatility and volatility transmission between oil and ghanaian stock market returns in a multivariate setting using the recently developed var garch var agarch and dcc garch frameworks in turn the models results are used to compute and analyze the optimal weights and hedge ratios for oil stock portfolio holdings for comparison purposes and to put the paper more in the perspective of west africa the nigerian stock market is also included in the analysis our findings point to the existence of significant volatility spillover and interdependence between oil and the two stock market returns while spillover effects are stronger for nigeria the transmission of volatility is much more apparent from oil to stock than from stock to oil in the case of ghana also the study demonstrates evidence of short term predictability in oil and stock price changes through time and reveals that conditional volatility changes more rapidly as result of substantial effects of past volatility rather than past news shocks for all market returns moreover we show that there is a slightly more effective hedge in the two stock markets under the dcc garch framework our preferred model compared to the other two models although hedging effectiveness is much greater for ghana on the whole our findings for optimal hedge ratios are consistent with other studies and particularly the view that oil assets should be an integral part of a diversified portfolio of stocks and suggest that a better understanding of volatility links is crucial for portfolio management in the presence of oil price risk finally the existence of multivariate asymmetric effects and dynamic conditional correlations as revealed by the var agarch and dcc garch models make it clear that the assumptions of symmetric effects and constant conditional correlations are not supported empirically

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

an empirical analysis of electricity consumption in cyprus abstract the paper presents the first empirical analysis of electricity consumption in cyprus using annual data from 1960 to 2004 we have examined electricity use in the residential and the services sectors which are the fastest growing electricity consumers in the island and its interaction with income prices and the weather the analysis was performed with the aid of time series analysis techniques such as unit root tests with and without a structural break in levels cointegration tests vector error correction models granger causality tests and impulse response functions results show long term elasticities of electricity use above unity for income and of the order of 0 3 to 0 4 for prices in the short term electricity consumption is rather inelastic mostly affected by weather fluctuations granger causality tests confirm exogeneity of electricity prices and bidirectional causality between residential electricity consumption and private income the commercial sector is less elastic and reverts faster to equilibrium than the residential sector despite the relatively small sample size results reported here are quite robust and can be used for forecasts and policy analyses

fossil fuel flexibility in west european power generation and the impact of system load factors this paper analyzes short run interfuel substitution in west european power generation and the impact of system load factors on fossil fuel choice the problems are studied within a restricted translog cost share model the paper concludes that interfuel substitution in existing power plants is substantial especially that between oil and gas this is consistent with the notion that short run fuel substitution takes place in dual or multi fired plants by switching load between different single fired plants and by some conversions of power plants to be able to burn alternate fuels the empirical investigation also indicates that the system load factor is a notable determinant of fossil fuel choices in west europe and the paper ends with an assessment of the fuel consequences of some load management schemes in the region

delving into liberia s energy economy technical change inter factor and inter fuel substitution abstract the industrial energy mix of liberia is dominated by petroleum products this has generated serious environmental problems contributing immensely to co 2 emissions and other pollutants in the country this study has attempted to investigate the potential for inter factor and inter fuel substitution between capital labor petroleum and electricity in liberia by employing a translog production and cost function approach ridge regression procedure has been adopted to estimate the parameters of the function due to multicollinearity in the data estimation results show that all inputs are substitutes these suggest that price based policies coupled with capital subsidy programs can be adopted to redirect technology use towards cleaner energy sources like electricity hence retaining the ability to fuel the economy while also mitigating greenhouse gas ghg emissions substitution between energy and labor and energy and capital implies that removal of price ceilings on energy in liberia would tend to reduce energy use and increase capital and labor intensiveness notwithstanding the study seems to show no evidence of convergence in relative technological progress of the four inputs implying that petroleum will continue to play a dominant role in the energy consumption mix of liberian industry while labor investment will continue to outweigh capital inputs finally the findings of this study provide general insights and underscore the importance of policies that focus on installed capacity of renewable electricity energy intensity targets as well as merger of enterprises

structural break unit root and the causality between energy consumption and gdp in turkey abstract this paper tries to investigate a series of unit root and causality tests to detect causality between the gdp and energy consumption in turkey employing hsiao s version of granger causality method for the 1950 2000 period the conventional unit root tests indicate the series are i 1 whereas the endogenous break unit root tests proposed by zivot and andrews zivot e and andrews d w k 1992 further evidence on the great crash the oil price shock and the unit root hypothesis journal of business and economics statistics 10 251 270 and perron perron p 1997 further evidence on breaking trend functions in macroeconomic variables journal of econometrics 80 355 385 reveal that the series are trend stationary with a structural break therefore it is inappropriate to take the first difference of the data to achieve stationarity the main conclusion of this study is that there is no evidence of causality between energy consumption and gdp in turkey based on the detrended data

output renewable energy consumption and trade in africa abstract we use panel cointegration techniques to examine the relationship between renewable energy consumption trade and output in a sample of 11 african countries covering the period 1980 2008 the results from panel error correction model reveal that there is evidence of a bidirectional causality between output and exports and between output and imports in both the short and long run however in the short run there is no evidence of causality between output and renewable energy consumption and between trade exports or imports and renewable energy consumption also in the long run there is no causality running from output or trade to renewable energy in the long run our estimations show that renewable energy consumption and trade have a statistically significant and positive impact on output our energy policy recommendations are that national authorities should design appropriate fiscal incentives to encourage the use of renewable energies create more regional economic integration for renewable energy technologies and encourage trade openness because of its positive impact on technology transfer and on output

energy consumption and economic growth in the usa evidence from renewable energy abstract recent debates about renewable energy consumption manifest two main expectations firstly renewable energy consumption should contribute to economic growth and secondly it should not cause damage on environment this study focuses on the first issue by applying toda yamamoto procedure and bootstrap corrected causality test for the us since empirical literature criticizes the toda yamamoto test which bases on asymptotic distribution the models consist of real gdp employment investment and kinds of renewable energy consumption only one causal relationship was found from biomass waste derived energy consumption to real gdp no causal relationship was found between real gdp and all of the other renewable energy kinds total renewable energy consumption geothermal energy consumption hydro electric energy consumption biomass energy consumption and biomass wood derived energy consumption that is using of energy from waste cause not only solving the dumping problems but also it contributes to real gdp for policy purpose the results of this study suggest that countries should concentrate on energy producing from waste as an alternative energy resource

renewable energy technologies as beacon of cleaner production a real options valuation analysis for liberia abstract the importance of energy consumption for growth and development calls for improved decision support for a sustainable energy transition given africa s dependence on fossil fuels the economic and environmental savings from research development and deployment of renewable energy technologies may be substantial although the benefits of renewable energy technologies research development funding may appear to be low assuming immediate deployment the uncertainty in the non renewable energy price and the flexibility over timing makes research development program more appealing this study develops different scenarios in order to quantify benefits provided by research development funding for renewable power generation in liberia by using real options pricing approach to estimate the value of renewable energy technologies while taking into account the uncertainty of fossil fuel prices and learning by doing in renewable energy technologies the optimal solution shows that renewable energy technologies are economically attractive especially when external costs are internalized however annual research development funding is low and should be raised significantly in order to guarantee the highest possible investment incentives with minimal expenditures the study also hypothesizes that with the likelihood of renewable energy to replace non renewable energy renewable power use in liberia can potentially reduce carbon dioxide emissions by approximately 13 9 by 2015 compared to the 2008 levels the key insight provided by the real options analysis in this study is that while renewable energy may have inherent limitations such as seasonality of supply low energy content and capacity factor issues they still hold a significant amount of value which can only be detected when externalities are internalized thus underscoring the need for external costs related policies

the relationship between disaggregate energy consumption and industrial production in the united states an ardl approach abstract we re examine the relationship between disaggregate energy consumption and industrial output as well as employment in the united states using the autoregressive distributed lag ardl approach developed by pesaran and pesaran pesaran m h pesaran b 1997 working with microfit 4 0 camfit data ltd cambridge and pesaran shin and smith pesaran m h shin y smith r j 2001 bounds testing approaches to the analysis of level relationships journal of applied econometrics 16 289 326 in particular we focus attention on the following energy consumption variables coal fossil fuels conventional hydroelectric power solar energy wind energy natural gas wood and waste the sample period covers 2001 1 2005 6 our results imply that real output and employment are long run forcing variables for nearly all measures of disaggregate energy consumption

retesting the causality between energy consumption and gdp in china evidence from sectoral and regional analyses using dynamic panel data abstract the increasing attention on energy policy needs has provided a renewed stimulus to research the linkages between energy consumption and economic performance in china this paper examined the causal relationship between energy consumption and economic growth in the regional and sectoral aspects by adopting provincial panel data in china from 1995 to 2008 the results indicate that economic growth causes more energy consumption in china not only at the national level but also at the regional and sectoral levels then the eastern region and the industrial sector show results quite similar to that of the whole country in which a bidirectional causality relationship exists between energy consumption and economic growth the implication for energy policies in china is that the eastern region and the industrial sector should play a leading role in the adjustment of energy consumption patterns and the transformation of the economy structure energy prices have limited effects on energy consumption but do have effects on economic growth because the energy price mechanism is more government oriented than market oriented in china

valuing chinese feed in tariffs program for solar power generation a real options analysis newhuadu business school research fund china sustainable energy program g 1305 18257 national social science foundation of china 12zd059 ministry of education 10gbj013

energy consumption and economic growth evidence from china at both aggregated and disaggregated levels using a neo classical aggregate production model where capital labor and energy are treated as separate inputs this paper tests for the existence and direction of causality between output growth and energy use in china at both aggregated total energy and disaggregated levels as coal oil and electricity consumption using the johansen cointegration technique the empirical findings indicate that there exists long run cointegration among output labor capital and energy use in china at both aggregated and all three disaggregated levels then using a vec specification the short run dynamics of the interested variables are tested indicating that there exists granger causality running from electricity and oil consumption to gdp but does not exist granger causality running from coal and total energy consumption to gdp on the other hand short run granger causality exists from gdp to total energy coal and oil consumption but does not exist from gdp to electricity consumption we thus propose policy suggestions to solve the energy and sustainable development dilemma in china as enhancing energy supply security and guaranteeing energy supply especially in the short run to provide adequate electric power supply and set up national strategic oil reserve enhancing energy efficiency to save energy diversifying energy sources energetically exploiting renewable energy and drawing out corresponding policies and measures and finally in the long run transforming development pattern and cut reliance on resource and energy dependent industries

comment testing the homogeneity of segments for estimating disaggregate choice models comment to gensch d h 1984 targeting the switchable industrial customer marketing sci 3 winter 41 54