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

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

tax motivated transfer pricing and us intrafirm trade prices abstract this paper analyzes monthly data on us international trade prices between 1997 and 1999 in order to investigate the impact of tax influences on intrafirm trade prices results indicate that there is substantial evidence of tax motivated transfer pricing in us intrafirm trade prices there is a strong and statistically significant relationship between countries tax rates and the prices of intrafirm transactions controlling for other variables that affect trade prices as country tax rates are lower us intrafirm export prices are lower and us intrafirm import prices are higher this finding is consistent with theoretical predictions regarding tax motivated income shifting behavior

fiscal paradise foreign tax havens and american business the tax haven affiliates of american corporations account for more than 20 percent of u s foreign direct investment and nearly a third of the foreign profits of u s firms american companies report extraordinarily high profit rates on their tax haven investments in 1982 this behavior implies that the revenue maximizing tax rate for a typical haven is around 5 8 percent american and foreign investment in tax havens has an uncertain effect on u s tax revenue but since low tax rates encourage american companies to shift profits out of high tax foreign countries it is possible that low foreign tax rates ultimately enhance u s tax collections

profit shifting and investment effects the implications of zero taxable profits abstract recent empirical research documents a tendency of multinational enterprise affiliates to bunch around zero reported profit we set up a theoretical model of multinational firm behavior in which we allow for corner solutions in the choice of the optimal transfer price due to insufficient profits or losses of affiliates such constraints in the choice of the transfer price induce bunching and generate investment effects in the low tax as well as the high tax country in equilibrium affiliates might overinvest and the investment effects generate a tendency for too high profit taxes the analysis provides a micro foundation for the investment effects that result from transfer pricing the finding stands in contrast to the existing literature where transfer pricing choices are unconstrained

multinationals profit response to tax differentials effect size and shifting channels this paper provides a quantitative review of the empirical literature on profit shifting behavior of multinational firms we synthesize the evidence from 25 studies and find a substantial response of profit measures to international tax rate differentials accounting for misspecification biases by means of meta regressions we predict a tax semi elasticity of subsidiary pre tax profits of about 0 8 moreover we disentangle the tax response by means of financial planning from the transfer pricing and licensing channel our results suggest that transfer pricing and licensing are the dominant profit shifting channel

electricity supply employment and real gdp in india evidence from cointegration and granger causality tests abstract this study probes nexus between electricity supply employment and real gdp for india within a multivariate framework using autoregressive distributed lag ardl bounds testing approach of cointegration long run equilibrium relationship has been established among these variables for the time span 1970 71 to 2005 06 the study further establishes long and short run granger causality running from real gdp and electricity supply to employment without any feedback effect thus growth in real gdp and electricity supply are responsible for the high level of employment in india the absence of causality running from electricity supply to real gdp implies that electricity demand and supply side measures can be adopted to reduce the wastage of electricity which would not affect future economic growth of india

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 gdp and electricity consumption in 10 asian countries the purpose of this study is to estimate the relationships between gdp and electricity consumption in 10 newly industrializing and developing asian countries using both single data sets and panel data procedures the empirical results from single data set indicate that the causality directions in the 10 asian countries are mixed while there is a uni directional short run causality running from economic growth to electricity consumption and a bi directional long run causality between electricity consumption and economic growth if the panel data procedure is implemented these empirical findings imply that electricity conservation policies through both rationalizing the electricity supply efficiency improvement to avoid the wastage of electricity and managing demand side to reduce the electricity consumption without affecting the end user benefits could be initiated without adverse effect on economic growth the findings on the long run relationship indicate that a sufficiently large supply of electricity can ensure that a higher level of economic growth

corporate taxation in the oecd in a wider context against the background of increased globalisation statutory corporate tax rates have shown a clear downward trend over the last two decades the sharp decline in these rates was accompanied by substantial tax base broadening and a comparable reduction in personal income tax rates only until the early 1990s this suggests that corporate tax competition is of increasing importance so far corporate tax revenues remain fairly stable but an analysis of corporate taxation in the context of the overall tax systems shows that a substantial shift towards value added taxes has taken place while the trends so far have been driven by smaller european countries recent tax reforms indicate that increasing tax competition is inducing a shift towards consumption even for larger economies

corporate taxes and the location of intangible assets within multinational firms intangible assets like patents and trademarks are increasingly seen as the key to competitive success and as the drivers of corporate profit moreover they constitute a major source of profit shifting opportunities in multinational enterprises mnes due to a highly intransparent transfer pricing process this paper argues that for both reasons mnes have an incentive to locate intangible property at affiliates with a relatively low corporate tax rate using panel data on european mnes and controlling for unobserved time constant heterogeneity between affiliates we find that the lower a subsidiary s corporate tax rate relative to other affiliates of the multinational group the higher is its level of intangible asset investment this effect is statistically and economically significant even after controlling for subsidiary size and accounting for a dynamic intangible investment pattern

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

discretionary inflation in a general equilibrium model this paper extends the barro and gordon 1983 model to a general equilibrium framework in which the costs and benefits to surprise inflation reflect the preferences technology and market structure of the economy the benefit of such an approach is that we can relate the underlying features of the economy to the size of the inflation bias in particular it can be shown that an increase in the source of the monetary authority s incentive to inflate does not necessarily result in a worsened inflation bias due to offsetting changes in the cost of inflation furthermore changes in the real interest rate affect the monetary authority s incentives and hence the discretionary level of inflation lastly we can show that an increase in the labor share of national income worsens the inflation bias the model also indicates the importance of a nominal rigidity lack of policy precommitment and a distortion for optimal monetary policy to be characterized by a level of discretionary inflation that exceeds the friedman 1969 rule

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

the effect of taxes on investment and income shifting to puerto rico the income of puerto rican affiliates of u s corporations is essentially untaxed by either puerto rico or the united states this lowers the tax penalty on investment there and also makes it attractive to shift reported taxable income from the u s parent corporation to the puerto rican affiliate this paper investigates these two interrelated impacts of taxation by developing a structural econometric model of the joint decisions regarding investment and income shifting and estimating the model using firm level data on the activity u s corporations in puerto rico the results suggest that the income shifting advantages are the predominant reason for u s investment in puerto rico

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

the impact of electricity supply on economic growth in sri lanka abstract yang energy econ 22 2000 309 has found a bi directional causal relationship between gross domestic product and electricity consumption in taiwan roc this study applies yang s model to examine the impact of electricity supply on economic growth in sri lanka morimoto and hope an extended cba model of hydro projects in sri lanka 2001 have found that the expected increase in economic output due to increased electricity supply parameter eo plays a crucial role in their cost benefit analysis model this study shows that the application of yang s regression analysis is one possible approach to estimate a better range for the parameter eo the estimated figure is that an extra output of rs 88 000 137 000 us1120 1740 for every 1 mw h increase in electricity supply

the dynamics of electricity demand in pakistan a panel cointegration analysis abstract this paper examines the dynamics of electricity demand in pakistan at the aggregate and sectoral levels over the period 1978 2012 panel cointegration test and fully modified ordinary least squares method is employed to determine the long run relationship between electricity consumption real income real price of electricity and domestic price of non energy products the results reveal that electricity demand is more responsive to changes in income than changes in prices at the aggregate and disaggregate levels short run and long run income elasticities are positive and statistically significant supporting the conservation hypothesis it appears from the results that long run price elasticities are negative and significant at the aggregate level and for the agriculture commercial residential sectors and public utilities the short run price elasticities are significant but low in magnitude which implies that changes in electricity price exert minimal effect on the electricity consumption in pakistan the domestic price of non energy products is positive and significant for aggregate sample in the short run the domestic price of non energy products exert significant negative positive impact on electricity demand in the agriculture industrial sectors the results thus provide important information to the agents operating in the electricity market regarding the income and pricing policies and helps in planning the future strategy of electricity demand management

electricity consumption and economic growth in seven south american countries abstract this paper attempts to investigate the causal relationship between electricity consumption and economic growth among seven south american countries namely argentina brazil chile columbia ecuador peru and venezuela using widely accepted time series techniques for the period 1975 2006 the results indicate that the causal nexus between electricity consumption and economic growth varies across countries there is a unidirectional short run causality from electricity consumption to real gdp for argentina brazil chile columbia and ecuador this means that an increase in electricity consumption directly affects economic growth in those countries in venezuela there is a bidirectional causality between electricity consumption and economic growth this implies that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption in that country however no causal relationships exist in peru the documented evidence from seven south american countries can provide useful information for each government with regard to energy and growth policy

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

exploring the depth of energy penetration in economic advancement perspective of bangladesh abstract developing countries consume a tiny share of world commercial energy this tempts policymakers in developing countries to sort out ways to increase commercial energy demand so that their invaluable resources are best utilized country like bangladesh may fall in trap if quickly declining and immensely valuable energy is wasted in unsustainable growth this urges for better use of its scarce resources for sustainable growth in this paper we aim to identify how energy consumption in bangladesh is related to various growth indicators like national income financial development industrialization and urbanization in the long run in search of a right path for sustainable development in this study we try to assess the relationship among energy consumption financial development economic growth industrialization and urbanization from 1980 to 2010 a number of cointegration techniques are employed to examine whether there is a long run relationship besides these we also employed augmented granger causality test to examine the causality if presents this study finds that financial development economic growth industrialization and urbanization have positive impact on energy consumption in short run but industrialization has no impact in the long run our causality test ensures that the above mentioned variables granger cause energy consumption for sustainable growth industrialization should be given priority as future consumption of energy in industrial sector will be greater than any other sector this future demand can only be fulfilled by injecting more and more renewable energy through solar wind and other technology as nonrenewable energy are declining quickly

natural gas consumption and economic growth nexus panel data analysis for gcc countries abstract this study investigates the relationship between natural gas energy consumption and economic growth by including trade openness total labor force and gross fixed capital formation as a major determinants of gdp growth within the multivariate framework model in gulf cooperation council gcc countries a panel gdp model is constructed taking the period of 1980 2012 the result revealed that natural gas energy consumption is cointegrated with gdp growth in the investigated countries in addition based on the panel dynamic ordinary least square dols and the fully modified ordinary least square fmols this study concluded that the natural gas energy consumption affects the gcc s countries gdp growth positively in the long run furthermore the results from the granger causality test revealed bidirectional causality between natural gas energy consumption and gdp growth which confirms the feedback hypothesis from the outcome of this research a number of policy implications were provided for the gcc countries

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

international corporate tax avoidance a review of the channels magnitudes and blind spots this paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations it surveys evidence on main channels of corporate tax avoidance including transfer mispricing international debt shifting treaty shopping tax deferral and corporate inversions moreover it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting we find that the literature suggests that for the most recent year a 1 percentage point lower corporate tax rate compared to other countries will expand before tax income by 1 5 percent an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time the literature on tax avoidance still has several unresolved puzzles and blind spots that require further research

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

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

integrating real options analysis with long term electricity market models abstract in liberalized electricity markets the investment postponement option is deemed decisive for understanding the addition of new generating capacity basically it refers to the possibility for investors to postpone projects for a period while waiting for the arrival of new and better information about the market evolution when such development involves major uncertainties the generation business becomes riskier and the investors wait and see behavior might limit the timely addition of new power plants in that sense the literature provides solid empirical evidence about the occurrence of construction cycles in the deregulated electricity industry however the strategic flexibility inherent to the option to defer new power plants has not yet been rigorously incorporated to investment signals in existing market models therefore this paper proposes a novel methodology to assess the long term development of liberalized power markets based on a more realistic approach for valuing generation investments the work is based on a stochastic dynamic market model built upon system dynamics simulation approach the decision making framework considers that the addition of new capacity is driven by the economic value of the strategic flexibility associated with deferring investments under uncertainties thus the value of the postponement option is quantified in monetary terms through real options analysis simulations confirm the cyclical behavior of the energy only market in the long run as suggested by the empirical evidence found in the literature in addition sensitivity analysis regarding some relevant exogenous variables depicts an even more fluctuating evolution of the capacity due to the combination of strong demand growth rates with large volatilities finally the model validity is assessed through a formal procedure according to the scope of system dynamics modeling approach

electricity and growth nexus dynamics in singapore fresh insights based on wavelet approach abstract this study examines the empirical relationship of electricity generation egen and economic growth ipi in singapore by using the flexible properties of the wavelet approach this innovative technique allows the decomposition of time series across time scales in this study we used continuous wavelet transform cross wavelet and wavelet coherence ratios to investigate the relationship between egen and ipi by using the monthly data from 1983 1 to 2016 1 results of autoregressive distributed lag and johansen juselius cointegration tests show that there is a significant long run relationship the mentioned variables in singapore furthermore results indicate that there is a unidirectional causal relationship running from egen to ipi in the long run while a bidirectional causal interplays are depicted between the of egen on ipi in medium run thus it can be recommended that government needs to increase electricity generation and further providing and nurturing the expansion of electricity supply in country which will ultimately benefits the economic growth

the boundaries of multinational enterprises and the theory of international trade this paper begins with a review of empirical evidence on multinational firms conceptual underpinnings of a theory are developed relying in particular on the notion of knowledge capital as a mobile joint input into geographically separated production facilities this idea is embedded in a simple two country general equilibrium model that supports multinational production in equilibrium under conditions consistent with the empirical evidence the final section examines internalization and shows why certain properties of knowledge capital also imply a preference for transferring technologies internally within the firm rather than through arm s length markets

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

cross border tax effects on affiliate investment evidence from european multinationals recent studies suggest that multinational firm activities at home and abroad are positively correlated which may be due to the use of common inputs like marketing patents etc then a cost shock at one location may lead to reduced activity in all other locations within the firm in this paper we theoretically and empirically analyze national corporate tax policy in such a setting our main hypothesis is that corporate taxation at the parent location not only reduces the parent s capital stock but also lowers capital stocks at affiliates abroad using micro data on european multinational firms we confirm the hypothesis showing that a 10 percentage point increase in corporate tax rates is associated with a 5 6 decrease in the affiliate s capital stock from a welfare point of view this cross border tax effect on the capital stock gives rise to a negative fiscal externality of corporate taxation which is empirically shown to compensate a substantial fraction of the well known positive externality due to profit shifting

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

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

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 nexus between carbon emissions energy consumption and economic growth in middle east countries a panel data analysis abstract the environmental kuznets curve ekc hypothesis assumes that there is an inverted u shaped relationship between environmental degradation and income per capita in other words as a country grows it is assumed that its environmental quality improves in this study we aim to test the ekc hypothesis for 12 middle east countries during the period 1990 2008 by employing recently developed panel data methods our results provide evidence contrary to the ekc hypothesis we found evidence favorable to the u shaped ekc for 5 middle east countries whereas an inverted u shaped curve was identified for only 3 middle east countries furthermore there appear to be no causal links between income and co 2 emissions for the other 4 countries regarding the direction of causality there appears to be a unidirectional causality from economic growth to energy consumption in the short run in the long run however the unidirectional causality chain runs from energy consumption and economic growth to co 2 emissions we also suggest some crucial policy implications depending on these results

energy intensity developments in 40 major economies structural change or technology improvement this study analyzes energy intensity trends and drivers in 40 major economies using the wiod database a novel harmonized and consistent dataset of input output table time series accompanied by environmental satellite data we use logarithmic mean divisia index decomposition to 1 study trends in global energy intensity between 1995 and 2007 2 attribute efficiency changes to either changes in technology or changes in the structure of the economy and 3 highlight sectoral and regional differences we first show that heterogeneity within each sector across countries is high these general trends within the sectors are dominated by large economies first and foremost the united states in most cases heterogeneity is lower within each country across the different sectors regarding changes of energy intensity at the country level improvements between 1995 and 2007 are largely attributable to technological change while structural change is less important in most countries notable exceptions are japan the united states australia taiwan mexico and brazil where a change in the industry mix was the main driver behind the observed energy intensity reduction

energy consumption and economic growth new evidence from meta analysis abstract the causal relationships between energy consumption and economic growth have given rise to much discussion but remain controversial alternative data sets based on different time spans countries energy policies and econometric approaches result in diverse outcomes a meta analysis using a multinomial logit model with 174 samples governing the relationships between gdp and energy consumption is applied here to investigate the major factors that affect these controversial outcomes the empirical results have demonstrated how the time spans subject selections including gdp and energy consumption econometric models and tools for greenhouse gases emission reduction characteristics significantly affect these controversial outcomes

linear and nonlinear granger causality between electricity production and economic performance in mexico abstract understanding the granger causality directions between electricity production ep and gross domestic product gdp is helpful for policymakers in order to design redesign and implement effective energy policies although there are plenty of studies on this issue no consistent conclusion about said relationship exists in this paper we provide an updated analysis for the case of mexico in the context of the design and implementation of a new energy policy we employ three tests 2 linear and one nonlinear and find no evidence of causal relation in a granger sense between ep and gdp for the 1965 2018 period our results suggest that mexican policymakers should consider enriching the bill by further designing policies that directly seek to promote a self sufficient electricity sector by enhancing generation output by private actors and transmission capacity

energy consumption and gdp causality a three step analysis for emerging european countries abstract the established european targets should play a leading role in the complex economic process of energy consumption and the emerging countries have to consider their implications for adjusting the energy policies at national level this paper develops investigations on the causality relationship between energy consumption and gdp in the context of emerging european countries covering the period 1980 2013 this research covers the limits identified by previous researchers by detailing the energy consumption by sources and by referring to five emerging countries in europe unlike most of the previous studies it has a double approach long and short run bidirectional relationships a detailed analysis on the impact of economic growth on the energy consumption by country is conducted in order to contribute to the enrichment of the research field towards this objective a three step analysis is performed stationarity cointegration and causality tests are considered the empirical study shows mixed results there is a balance in confirming conservation growth and neutrality hypotheses in some specific cases results imply that energy consumption and economic growth are jointly determined however a comparative analysis for different significance levels draws attention on the differences in judgment of results for this type of studies discussions on the results in terms of causality are conducted in order to identify future trends for research

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

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

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

a new statistic and practical guidelines for nonparametric granger causality testing abstract in this paper we introduce a new nonparametric test for granger non causality which avoids the over rejection observed in the frequently used test proposed by hiemstra and jones 1994 testing for linear and nonlinear granger causality in the stock price volume relation journal of finance 49 1639 1664 after illustrating the problem by showing that rejection probabilities under the null hypothesis may tend to one as the sample size increases we study the reason behind this phenomenon analytically it turns out that the hiemstra jones test for the null of granger non causality which can be rephrased in terms of conditional independence of two vectors x and z given a third vector y is sensitive to variations in the conditional distributions of x and z that may be present under the null to overcome this problem we replace the global test statistic by an average of local conditional dependence measures by letting the bandwidth tend to zero at appropriate rates the variations in the conditional distributions are accounted for automatically based on asymptotic theory we formulate practical guidelines for choosing the bandwidth depending on the sample size we conclude with an application to historical returns and trading volumes of the standard and poor s index which indicates that the evidence for volume granger causing returns is weaker than suggested by the hiemstra jones test

testing for linear and nonlinear granger causality in the stock price volume relation linear and nonlinear granger causality tests are used to examine the dynamic relation between daily dow jones stock returns and percentage changes in new york stock exchange trading volume we find evidence of significant bidirectional nonlinear causality between returns and volume we also examine whether the nonlinear causality from volume to returns can be explained by volume serving as a proxy for information flow in the stochastic process generating stock return variance as suggested by clark s 1973 latent common factor model after controlling for volatility persistence in returns we continue to find evidence of nonlinear causality from volume to returns

energy consumption and economic growth in the light of meeting the targets of energy policy in the eu the bootstrap panel granger causality approach abstract the aim of the paper is to assess linkages between energy consumption and economic growth in the light of compliance with the eu energy policy targets stated in the climate and energy package for 2020 in the european union member states in the period 1993 2011 the study is divided into two main stages during the first one using cluster analysis methods four groups of countries which met three energy policy targets stated in the package at similar levels were identified during the second stage the bootstrap granger panel causality approach proposed by konya 2006 was used to verify the hypothesis of causality between energy consumption and economic growth in the countries from four groups created in the previous step the global financial crisis was also taken into account the results obtained reveal that the level of compliance with energy policy targets influences linkages between energy consumption and economic growth the results indicate causal relations in the group of countries with the greatest reduction of greenhouse gas emissions the highest reduction of energy intensity and the highest share of renewable energy consumption in total energy consumption in the remaining groups the results mostly confirm the neutrality hypothesis

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

pigou tiebout property taxation and the underprovision of local public goods abstract pigou s proposition that the use of distorting taxes rather than neutral head taxes reduces public service levels is examined in this paper a simple model with a national system of competing local governments is utilized to demonstrate that the use of a distorting property tax on mobile capital decreases the level of residential public services the case where public services are an intermediate producer good is also considered

energy consumption employment output and temporal causality evidence from taiwan based on cointegration and error correction modelling techniques in this study a cointegration analysis and a vector autoregressive model var are used to examine the causal relationships among energy consumption employment and output for taiwan over the period january 1982 to november 1997 johansen 1988 and johansen and juselius 1990 cointegration test result indicates these three variables are cointegrated with one cointegrating vector the results from granger causality tests based on vector error correction models vecm suggest bidirectional grange causality for employment output and employment energy consumption but only unidirectional causality running from energy consumption to output furthermore the impulse responses and variance decompositions are also incorporated into the analysis the results from impulsive response and variance decomposition analysis tell similar stories energy consumption appears to have led to output growth in taiwan over this period the policy implication of this finding is that energy conservation will restrain the outpu

electricity consumption and economic growth a cross country analysis abstract electricity has been the foundation of economic growth and constitutes one of the vital infra structural inputs in socio economic development the world faces a surge in demand for electricity that is driven by such powerful forces as population growth extensive urbanization industrialization and the rise in the standard of living this paper attempts to ascertain whether there is a systematic relationship between electricity consumption and economic growth to this end we use a large set of data that spans 88 countries during the period 1975 2004 a statistically significant inverted u shaped relationship between per capita consumption of electricity and per capita income is detected nevertheless by using a purchasing power parity that is much higher than the per capita income of all the countries in the world the level of per capita income is estimated at the peak point of per capita electricity consumption to be 61 379 in 2000 constant international dollars moreover we segment the sample into organization for economic cooperation and development oecd countries and non oecd countries and separately analyze the developed and developing countries the separate estimation shows that even though the peak income is higher than the average per capita income a statistically significant inverted u shaped relationship is found in oecd and developed countries but not in non oecd and developing countries

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

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

multinational firms mitigate tax competition an increase in the taxation of foreign affiliates reduces domestic investment as has recently been empirically shown in becker and riedel 2012 this paper investigates the implication of this finding for tax competition it is shown that an increase in the number of multinational firms in contrast to purely national firms may actually mitigate tax competition counter to the popular opinion that multinational firms undermine the national capacity to levy source based taxes

foreign direct investment and the domestic capital stock this paper evaluates evidence of the impact of outbound foreign direct investment fdi on domestic investment rates oecd countries with high rates of outbound fdi in the 1980s and 1990s exhibited lower domestic investment than other countries which suggests that fdi and domestic investment are substitutes u s time series data tell a very different story however years in which american multinational firms have greater foreign capital expenditures coincide with greater domestic capital spending by the same firms one dollar of additional foreign capital spending is associated with 3 5 dollars of additional domestic capital spending in the time series implying that foreign and domestic capital are complements in production by multinational firms this effect is consistent with cross sectional evidence that firms whose foreign operations expand simultaneously expand their domestic operations and suggests that interpretation of the oecd cross sectional evidence may be confounded by omitted variables this abstract was borrowed from another version of this item

electricity use and economic development abstract a study of the relationship between electricity use and economic development in over one hundred countries constituting over 99 of the global economy has been undertaken correlations between electricity consumption capita and gdp capita have been analysed and compared with those between total primary energy supply capita and gdp capita a supporting analysis has correlated the proportion of energy used in the form electricity the e e ratio with gdp capita the general conclusions of this research are that wealthy countries have a stronger correlation between electricity use and wealth creation than do poor countries and that for the global economy as a whole there is a stronger correlation between electricity use and wealth creation than there is between total energy use and wealth the study also shows that in wealthy countries the increase in wealth over time correlates with an increase in the e e ratio the results imply that the energy ratio toe should be replaced by the electricity ratio kwh as a development indicator and more precisely by the e e ratio kwh toe

repatriation taxes and outbound m as repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries this comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality which results in production inefficiencies due to second best ownership structures this paper empirically estimates the magnitude of these effects the abolishment of repatriation taxes in japan and in the u k in 2009 has increased the number of acquisitions abroad by japanese and british firms by 16 1 and 1 6 respectively a similar policy switch in the u s is simulated to increase the number of u s cross border acquisition by 11 0 the yearly gain in efficiency is estimated to be 108 9 million dollar due to the japanese reform and 3 9 million dollar due to the u k reform simulating such a reform for the u s results in a yearly efficiency gain of 537 0 million dollar

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

company taxation and tax spillovers separate accounting versus formula apportionment it is observed in the real world that taxes matter for location decisions and that multinationals shift profits by transfer pricing the us and canada use so called formula apportionment fa to tax corporate income and the eu is debating a switch from separate accounting sa to fa this paper develops a theoretical model that compares basic properties of fa to sa the focal point of the analysis is how changes in tax rates affect capital formation input choice and transfer pricing as well as on spillovers on tax revenue in other countries the analysis shows that a move from sa to fa will not eliminate such spillovers and will in cases identified in the paper actually aggravate them

international profit shifting within multinationals a multi country perspective abstract we model the opportunities and incentives generated by international tax differences for international profit shifting by multinationals the model considers not only profit shifting arising from international tax differences between affiliates and parent companies but also from tax differences between affiliates in different host countries our model yields the prediction that a multinational s profit shifting in a country depends on a weighted average of international tax rate differences between all countries where the multinational is active using a unique dataset containing detailed firm level information on the parent companies and subsidiaries of european multinationals and information about the international tax system we test our model and empirically examine the extent of intra european profit shifting by european multinationals on average we find a semi elasticity of reported profits with respect to the top statutory tax rate of 1 3 while shifting costs are estimated to be 0 6 of the tax base international profit shifting leads to a substantial redistribution of national corporate tax revenues many european nations appear to gain revenues from profit shifting by multinationals largely at the expense of germany

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