leapfrog to the future energy scenarios and strategies for suriname to 2050 abstract this paper formulates energy strategies for suriname a conceptual model identifying relationships in the energy sector is conceived one of the striking characteristics is that various relationships inhibit significant uncertainty our contemporary age is characterized by more complex becoming relations decreasing predictability and increasing chaos simple extrapolation of past events is therefore futile since deviations from anticipated outcomes have significant impacts the scenario planning methodology has been used to deal with this uncertainty the most uncertain high impact driving forces that shape the future of the energy sector in suriname have been identified and are used to create energy scenarios to 2050 next robust strategies have been formulated which primarily focus on institutionalization renewable resources cost reflecting tariffs decentralization of energy supply and energy efficiency and savings leading indicators have been identified that identify towards which scenario the present develops and hence which set of strategies need to be applied

the impacts of tourism energy consumption and political instability on economic growth in the mena countries using panel data of 24 countries in the middle east and north african mena region from 2001 to 2009 the purpose of this study is to examine the impacts of tourism energy consumption and political instability on economic growth within the neoclassical growth framework to address the objective of this study we utilise both the static panel data approach as well as the dynamic generalised method of moments gmm estimator to examine the impact of candidate variables our results show that energy consumption and tourism significantly contribute to the economic growth of countries in the mena region hence our study lends some support to the existence of the tourism led growth and energy led growth hypotheses in the region in line with our expectation our estimation results also reveal that political instability impedes the process of economic growth and development in the mena region therefore macroeconomic policies to promote expansion in tourism and energy consumption will directly stimulate economic growth additionally efforts to help the region overcome its history of political instability would attract more international tourist arrivals and further invigorate economic growth

tax collection with agency costs private contracting or government bureaucrats historically governments contracted with private agents known as tax farmers to collect taxes this paper develops a theoretical framework for determining when a welfare maximizing government should choose tax farmers over bureaucratic tax collectors while bureaucratic collectors have an incentive to shirk and raise collection costs above least costs profit maximizing private collectors tend to reduce tax evasion below the optimal level generally the choice of collection methods depends on a comparison of the welfare loss associated with monitoring in the bureaucratic setting and the welfare loss associated with overdetection of evasion in the private setting copyright 1992 by the london school of economics and political science

energy efficiency and conservation in china s chemical fiber industry abstract china is currently experiencing rapid economic growth as a result of industrialization and urbanization in the next 20 years china s energy demand will increase substantially and energy conservation will become imperative for the country s low carbon economic transformation since 1998 china s chemical fiber production has ranked first in the world in 2011 china s chemical fiber production accounted for about 70 of the world s total output therefore energy saving is important for china s chemical fiber industry and can provide immense benefits and hence the need for thorough and intense research in this paper the co integration method is used to test the relationship between energy consumption and its influencing factors such as gdp energy prices population and r d expenditures the results show that there is a long term relationship between the variables based on this we estimate energy demand and predict the energy saving potential for the industry under different scenarios we apply the monte carlo simulation method to verify the reliability of the prediction scenario analysis is adopted to predict energy demand and energy saving in the industry under different scenarios finally we propose some policy suggestions on energy saving based on the research

effects of the price of charitable giving evidence from an online crowdfunding platform abstract a long literature has examined the effects of the price of giving that is the amount an individual must give for one dollar to accrue to the charitable activity itself on donative behavior we use data from donorschoose org an online platform linking teachers with prospective donors that are uniquely suited to addressing this question due to exogenous variation in overhead costs an increased price of giving results in a lower likelihood of a project being funded we also calculate the price elasticity of giving finding estimates between 0 8 and 2 finally we examine the effect of competition on giving and find that increased competition reduces the likelihood of a project being funded these results provide insight into the workings of the market for charitable gifts

estimation on oil demand and oil saving potential of china s road transport sector national social science foundation of china 12zd059 ministry of education 10gbj013 national natural science foundation of china 71203186 fundamental research funds for the central universities 2010221051 national science foundation for disting

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

is the energy led growth hypothesis valid new evidence from a sample of 85 countries abstract the energy growth literature contains a large number of discussions on the causal relationship between energy consumption and economic growth the central debate focuses on whether energy consumption contributes or not to economic growth since it has direct implications for the formulation of strategic policies nevertheless current studies cannot provide a conclusive suggestion due to mixed causality results this inconclusive evidence is potentially attributed to model specifications and the stage of economic development of the countries under investigation hence this study attempts to empirically re investigate the validity of the energy led growth hypothesis using a different model specification and different stages of economic development for 85 selected countries around the globe overall although the causality results are mixed among countries we do find a systematic pattern in particular granger causality models with three and four variables are more likely to support the hypothesis compared to their counterparts that contain only two variables in addition both developed and developing countries are more likely to support the energy led growth hypothesis compared to the less developed or low income countries therefore causality results are very sensitive to the choice of the model specification along with the stages of economic development finally energy conservation policies should only focus on low income countries as these policies may not retard the process of economic growth

a dynamic panel study of economic development and the electricity consumption growth nexus abstract this study examines the relationship between electricity consumption and economic growth for 88 countries categorized into four panels based on the world bank income classification high upper middle lower middle and low income within a multivariate panel framework over the period 1990 2006 the larsson et al 2001 panel cointegration test indicates there is a long run equilibrium relationship between real gdp coal consumption real gross fixed capital formation and the labor force for the high upper middle and lower middle income country panels the results from the panel vector error correction models reveal 1 bidirectional causality between electricity consumption and economic growth in both the short and long run for the high income and upper middle income country panels 2 unidirectional causality from electricity consumption to economic growth in the short run but bidirectional causality in the long run for the lower middle income country panel and 3 unidirectional causality from electricity consumption to economic growth for the low income country panel

determinants of renewable energy adoption in china and india a comparative analysis this article examines the dynamic relationships among output carbon emission and renewable energy generation of india and china during the period 1972 to 2011 using a multivariate vector error correction model vecm the results for india reveal unidirectional short run causality from carbon emission to renewable energy generation and from renewable energy generation to output whereas in the long run the variables have bidirectional causality causalities in china give a rather different scenario with a short run unidirectional causality from output to renewable energy and from carbon emission to renewable energy generation in the long run for china unidirectional causality is found from output to renewable energy generation while bidirectional causality is found between carbon emission and renewable energy generation

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

useful exergy is key in obtaining plausible aggregate production functions and recognizing the role of energy in economic growth portugal 1960 2009 abstract the role of energy in economic growth is controversial models based on aggregate production functions apf range from the neoclassical which downplay energy due to a cost share theorem but typically rely on exogenous total factor productivity tfp to the ecological economic which acknowledge energy s importance the validity of the apf concept itself is questioned here we apply cointegration analysis to identify apfs between output capital labor and possibly energy measured as primary energy or useful exergy we test for tfp growth by including a time trend we require that plausible apfs verify cointegration non negative output elasticities and granger causality linking inputs to output our method recognizes cases where a plausible apfs do not exist thereby addressing the apf critique b energy impacts growth directly c energy impacts growth indirectly through capital and labor we apply the method to portugal 1960 2009 considering standard and quality adjusted capital labor measures with a time trend or disregarding energy plausible apfs are never found without a trend plausible apfs are found only when considering capital energy labor combinations within these with quality adjusted capital and labor and useful exergy results are consistent with the cost share theorem but energy plays a central role through a constraint on all factors of production

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

the relationship between energy and production evidence from turkish manufacturing industry this paper investigates the relationship between energy and production at the industry level in an emerging market turkey in a multivariate framework the electricity consumption and value added relation is examined in the turkish manufacturing industry while also accounting for labor and fixed investment we find that labor fixed investment electricity consumption and value added are related via three cointegrating vectors the vec results indicate uni directional causality running from electricity consumption to value added generalized impulse response and variance decomposition analyses confirm these results thus energy input appears to be closely related to production hence energy saving technologies and increased energy efficiency may increase the growth in manufacturing value added

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

growth and renewable energy in europe a random effect model with evidence for neutrality hypothesis this is an empirical study on the causal relationship between economic growth and renewable energy for 27 european countries in a multivariate panel framework over the period 1997 2007 using a random effect model and including final energy consumption greenhouse gas emissions and employment as additional independent variables in the model empirical results do not confirm causality between renewable energy consumption and gdp although panel causality tests unfold short run relationships between renewable energy and greenhouse gas emissions and employment the estimated cointegration factor refrains from unity indicating only a weak if any relationship between economic growth and renewable energy consumption in europe suggesting evidence of the neutrality hypothesis which can partly be explained by the uneven and insufficient exploitation of renewable energy sources across europe

change in energy related co2 carbon dioxide emissions in portuguese tourism a decomposition analysis from 2000 to 2008 abstract tourism is an activity with great potential in portugal at a time of economic crisis tourism is seen as an opportunity to boost the economy and provide sustainable economic growth this strategic path based on tourism has to be accomplished in order to make better use of the economic advantages but at the same time respecting the environment and environmental goals to which portugal is committed so it becomes important to analyze what effects contribute more to emissions in this sector as well as which tourism subsectors are more responsible for the increase of emissions the objective of this work is to identify the effects in which co2 carbon dioxide emissions in tourism can be broken down and analyzed as well as their evolution and which of them has more importance in determining emissions for that in this study a decomposition technique based on logarithmic mean divisia index was used in the 2000 2008 period for five tourism subsectors in portugal in general tourism activity is the most important effect energy mix carbon intensity and energy intensity effects also proved important

the impact of energy consumption and economic development on ecological footprint and co2 emissions evidence from a markov switching equilibrium correction model abstract reducing the impact of air pollution and global environmental degradation on human health and quality of life for qatari citizens represents the most important objective of the qatar national vision 2030 with respect to this vision this study investigates the effects of economic growth energy consumption trade openness urbanization and financial development on environmental degradation by using the markov switching equilibrium correction model with shifts in both the intercept and income per capita slope for the period 1970 2015 unlike existing studies and in addition to the co 2 emissions pollutant this paper uses the total ecological footprint and ecological carbon footprint as new proxies of environmental degradation empirical results show strong evidence for cointegration with markov shifts in particular our results show that the non control for breaks can hide the true relationship among variables the results show also that when controlling for breaks the environment kuznets curve ekc hypothesis holds for the co 2 emissions and ecological carbon footprint pollutants and the u shaped behavior holds for the total ecological footprint moreover the results show that these two behaviors ekc and u shaped are regime dependent regarding the other explanatory variables the results show that trade openness and urbanization worsen ecological footprint however the electricity consumption and financial development are positively related to the ecological footprint and negatively related to ecological carbon footprint and co 2 emissions finally we found evidence for the growth hypothesis for both pollutants based on these results a detailed economic energy and environmental policy is proposed and discussed for the case of qatar

the growth of income and energy consumption in six developing countries this paper reexamines the inter temporal link between energy consumption and income in six developing countries with diverse economic backgrounds and energy statistics in a production function framework we employ the generalized variance decompositions and generalized impulse response techniques to see if the growth of income and energy consumption contains considerable information to predict each other in all countries energy appears as an essential factor of production results indicate that energy may be a relatively more important input than labor and or capital in some countries hence neutrality of energy does not seem to hold

the relation between chinese economic development and energy consumption in the different periods since the 1980s chinese economy grew rapidly with the rapid economic growth chinese energy consumption sharply increased the relation between chinese energy consumption and economic growth is focused on and many researchers have studied this issue by applying the methods such as granger causality test however the results just reveal the relation in a very long period in this paper the history of chinese economy is divided into four periods and the relation between chinese energy consumption and economic growth is examined by applying grey incidence analysis which is one of the most important methods of grey system theory which can be applied to solve the problems with small samples the results show that the relations in different periods are not the same the degree of grey incidences between total energy consumption and values added of secondary industry is larger and the degree of grey incidences between gdp and consumption of coal is larger too and the policy implications of these results are explained

energy consumption and economic growth in the next 11 countries the bootstrapped autoregressive metric causality approach abstract departing from previous literature using bootstrapped autoregressive metric causality approach which is more robust against non stationarity and break problems than lag augmented tests this study analyzes causal relation between economic growth and energy consumption in the next 11 countries estimating a trivariate model consisting of gdp per capita energy consumption per capita and gross capital formation it was found that the neutrality hypothesis is valid for all of the countries except for turkey these findings imply that energy conservation oriented policies should be implemented in bangladesh egypt indonesia iran korea mexico pakistan and philippines in the case of turkey a unidirectional causal nexus was found from energy consumption to economic growth since the growth hypothesis is valid energy conservation policy poses an obstacle for economic growth in turkey

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

renewable energy consumption and income in emerging economies abstract increased economic growth and demand for energy in emerging economies is creating an opportunity for these countries to increase their usage of renewable energy this paper presents and estimates two empirical models of renewable energy consumption and income for a panel of emerging economies panel cointegration estimates show that increases in real per capita income have a positive and statistically significant impact on per capita renewable energy consumption in the long term a 1 increase in real income per capita increases the consumption of renewable energy per capita in emerging economies by approximately 3 5 long term renewable energy per capita consumption price elasticity estimates are approximately equal to 0 70

energy and economic growth in the usa a multivariate approach abstract this paper examines the causal relationship between gdp and energy use for the period 1947 90 in the usa the relationship between energy use and economic growth has been examined by both biophysical and neoclassical economists in particular several studies have tested for the presence of a causal relationship in the granger sense between energy use and economic growth however these tests do not allow a direct test of the relative explanatory powers of the neoclassical and biophysical models a multivariate adaptation of the test vector autoregression var does allow such a test a var of gdp energy use capital stock and employment is estimated and granger tests for causal relationships between the variables are carried out although there is no evidence that gross energy use granger causes gdp a measure of final energy use adjusted for changing fuel composition does granger cause gdp

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

energy as a driver of growth in oil exporting countries abstract this paper is a contribution to the on going debate over whether there is a relationship between energy consumption and economic growth although the oil exporting countries are among the most energy intensive economies in the world little attention has been paid to the features of their energy consumption therefore this study empirically investigates the two variables dynamic relationship in 12 oil exporting countries from 1990 to 2010 using recently developed panel econometric techniques the present paper accounts for cross section dependence and structural breaks when analysing the energy income nexus the results of this study indicate that there exists a long run equilibrium relationship between energy consumption and economic growth furthermore the empirical evidence of a dynamic panel error correction model reveals a short run unidirectional causality from energy consumption to economic growth whereas in the long run it is the economic process that determines the energy consumption trend

energy consumption and economic growth evidence from the commonwealth of independent states abstract this study examines the relationship between energy consumption and economic growth for eleven countries of the commonwealth of independent states over the period 1991 2005 within a multivariate panel data framework based on pedroni 1999 pedroni 2004 heterogeneous panel cointegration test and corresponding error correction model cointegration is present between real gdp energy consumption real gross fixed capital formation and labor force with the respective coefficients positive and statistically significant the results of the error correction model reveal the presence of unidirectional causality from energy consumption to economic growth in the short run while bidirectional causality between energy consumption and economic growth in the long run thus the results lend support for the feedback hypothesis associated with the relationship between energy consumption and economic growth

causality between energy consumption and output growth in the indian cement industry an application of the panel vector error correction model vecm abstract the aim of this paper is to examine the existence and direction of the causal relationship between energy consumption and output growth in the indian cement industry for the period 1979 80 to 2004 05 the most recently developed panel unit root a heterogeneous panel cointegration and panel based error correction model is applied within a multivariate framework the empirical results confirm a positive long run cointegrated relationship between output and energy consumption when heterogeneous state effects are taken into account we also found a long run bi directional relationship between energy consumption and output growth in the indian cement industry for the study period implying that an increase in energy consumption directly affects the growth of this sector and that growth stimulates further energy consumption these empirical findings imply that energy consumption and output are jointly determined and affect each other the empirical evidence also suggests the implementation of energy conservation policies oriented toward improving energy use efficiency to avoid any negative impacts of the conservation policies on the growth of this industry

environmental kuznet s curve for india evidence from tests for cointegration with unknown structuralbreaks this study revisits the cointegrating relationship between carbon emission energy use economic activity and trade openness for india using threshold cointegration tests with a view to testing the environmental kuznet s curve hypothesis in the presence of possible regime shift in long run relationship of the variables for the period 1971 to 2008 the article confirms the existence of regime shift or threshold cointegration among the variables and environmental kuznet s curve for india it challenges previous empirical works for india which fail to establish cointegrating relationship among these variables and explains its logical and econometric reasons the study finds that the carbon emission is highly elastic with respect to real per capita income and energy use in india this finding is critical and warns successful design and execution of energy and environmental policy framework which would pave the low carbon sustainable growth path inindia

trade and consumption of energy varieties empirical analysis of selected west africa economies abstract this paper examined the relationship between consumption of energy varieties total electricity and road transport and trade export and import in selected west african countries data spanning 1971 to 2010 was used to estimate vector error correction models vecm for 6 countries based on data availability empirical analysis showed that there is insignificant linkage between consumption of energy varieties and export of benin however there is a one way positive linkage running from energy varieties to import of the country for cote d ivoire energy varieties have insignificant relationship with export and import however while inverse relationship runs from export to both electricity and road transport energy consumption positive direct association runs from import to total energy and transport energy consumption with respect to ghana positive causality runs from electricity and road transport energy consumption to export however there is a significant positive feedback effect between import and electricity as well as road transport energy consumption for nigeria there is a significant positive link running from both electricity and road transport energy consumption to export and import senegal s case suggests a bi directional inverse linkage between export and total energy consumption for togo both export and import are insignificantly linked with energy use these mixed findings generate different policy implications across the selected west african countries which are well articulated in the paper

the future of the income tax the federal income tax has been under attack by the economics profession for more than a decade the attack comes from two directions supply siders who believe that progressive income taxation impairs economic incentives and more traditional economists who would substitute a progressive expenditure tax for the income tax 2 at one time support for the expenditure tax was confined to a few members of our profession including such distinguished names as john stuart mill irving fisher nicholas kaldor and james meade today it is fair to say that many if not most economists favor the expenditure tax or a flat rate income tax this group has joined the opponents of progressive taxation in the attack on the income tax despite an incessant barrage from both groups no country in the world is planning to abandon the income tax or is even considering a personal expenditure tax a wave of tax reform beginning with the u s reform in 1986 has been sweeping the world aimed at improving the income tax not at eliminating it tax preferences formerly regarded as sacrosanct are being removed and there is a distinct movement toward comprehensive income taxation 3 however individual income tax rates are being cut tax progressivity has been declining almost everywhere and reliance on the income tax has been diminishing it will come as no surprise to this audience that i approve of the base broadening feature of the current tax reform movement but i believe that the reduction in the redistributive effect of the income tax has gone too far in this paper i shall show that the progressivity of the u s tax system never very pronounced except during and immediately after the two world wars has been declining for more than two decades and that the tax reform act of 1986 reversed this decline but only slightly consequently we have a long way to go to improve the equity of the tax system i believe this can be done without punitive tax rates that will hurt economic incentives i begin with a brief review of recent changes in the u s distribution of income and follow this with an analysis of the effect of taxes on the income distribution i next examine arguments for and against the income tax with particular emphasis on its effects on economic incentives and its merits when compared with the expenditure tax i then evaluate the income tax as it emerged from the 1986 tax reform and conclude with tjoseph pechman passed away on august 19 1989 his presidential address was delivered at the onehundred second meeting of the american economic association december 29 1989 atlanta georgia joseph a pechman economic studies program the brookings institution 1775 massachusetts avenue nw washington dc 20036 i have benefited from the comments and suggestions on an earlier draft of this paper by henry j aaron richard goode jane g gravelle robert w hartman donald w kiefer herbert e klarman robert d reischauer clifford m winston and h peyton young but they should not be held responsible for the views expressed in this paper i am indebted to richard kasten for various simulations i am also grateful to stephen j kastenberg for research assistance and to diane a shugart valerie m owens and sara c hufham for secretarial assistance some of the more extreme supply siders argued that large tax cuts pay for themselves see for example laffer 1981 but i believe it is fair to say that this view has been totally discredited for a more reasonable supply side view see the economic report of the president 1982 2see for example michael j boskin 1978 david e bradford 1980 charles l ballard don fullerton john shoven and john whalley 1985 paul courant and edward gramlich 1982 martin feldstein 1978 robert hall and alvin rabushka 1985 john kay and mervyn king 1983 charles mclure 1987 mieszkowski 1980 and lawrence summers 1981 it is interesting that the recent popularity of the expenditure tax among economists was stimulated by a tax lawyer william d andrews 1974 3see pechman 1988

energy growth conundrum in energy exporting and importing countries evidence from heterogeneous panel methods robust to cross sectional dependence abstract this article uses the panel methods for energy exporting and importing countries that discuss the heterogeneity and cross sectional dependence in investigating the linkages between energy consumption and economic growth the findings of the study suggest that the energy consumption is an important input not only in the energy importing but also in energy exporting countries furthermore the results of the present paper suggest that the policy options should be different for the different countries in the back drop of heterogeneous slope coefficients

sample audit tax assessment for businesses what s fair how should a revenue agency assess a business taxpayer s income on the basis of a sample audit of transactions the agency would like to maximize revenue while minimizing the risk that the taxpayer will be assessed more than he really owes the taxpayer reasons that overassessment is worse than underassessment as far as he is concerned and therefore the taxpayer might reasonably argue that the lower bound of a one sided confidence interval should be used by the assessor the revenue agency might understandably take a different point of view the revenue agency might argue that overassessment is really no worse than underassessment from its point of view so the midpoint of such a confidence interval should be used in fact it is this latter position that is currently in use most commonly by state agencies but such practice is being challenged the courts will have to make a decision

china s energy demand and its characteristics in the industrialization and urbanization process a reply zhang and qin 2013 argued that in jiang and lin 2012 the equation form and variable selection should be altered and it was problematic to use regression equation to project the future in this reply we disagree with and will refute some of the points raised in their comments the model that we established was based on the mature economic theory with the variable selections all having economic implications considering the economic development stage china s urbanization will speed up and this will have significant effect on energy consumption therefore urbanization is an indispensable variable for analyzing energy demand in china the scenario design only in terms of the gdp is sufficient for illustrating energy demand trend in china to be understood in a way by most of the people although energy forecast is not that precise it has an important implication for energy policy design especially for china which is in transition and china s energy demand will keep high growth in the mid term

a multivariate cointegration analysis of the role of energy in the us macroeconomy abstract this paper extends my previous analysis of the causal relationship of gdp and energy use in the usa in the post war period a majority of the relevant variables are integrated justifying a cointegration analysis the results show that cointegration does occur and that energy input cannot be excluded from the cointegration space the results are plausible in terms of macroeconomic dynamics the results are similar to my previous granger causality results and contradict claims in the literature based on bivariate models that there is no cointegration between energy and output

on energy consumption and gdp studies a meta analysis of the last two decades abstract the relationship between energy consumption and gdp growth has been intensely examined in multiple frameworks set by various methods and countries this paper is a meta analysis of 51 studies published in the last two decades with worldwide data since 1949 on the relationship between energy consumption and gdp growth the aim is to systemize some of the factors that cause the variation of results in these studies our results yield evidence that the long run elasticity of gdp growth with respect to energy consumption is not independent of the method employed for cointegration the data type and the inclusion of variables such as the price level or capital in the cointegration equation also 1 increase in capital increases the elasticity of gdp with respect to energy consumption by 0 85

energy consumption and economic growth the case of oil exporting countries this paper examines the causal relationship between the per capita energy consumption and the per capita gdp in a panel of 11 selected oil exporting countries by using panel unit root tests and panel cointegration analysis the results show a unidirectional strong causality from economic growth to energy consumption for the oil exporting countries the findings have practical policy implications for decision makers in the area of macroeconomic planning in most major oil exporting countries government policies keep domestic prices bellow free market level resulting in high levels of domestic energy consumption the results imply that the energy conservation through reforming energy price policies has no damaging repercussions on economic growth for this group of countries

causal relationship between energy consumption and gdp growth revisited a dynamic panel data approach abstract this paper uses the panel data of energy consumption and gdp for 82 countries from 1972 to 2002 based on the income levels defined by the world bank the data are divided into four categories low income group lower middle income group upper middle income group and high income group we employ the gmm sys approach for the estimation of the panel var model in each of the four groups afterwards the causal relationship between energy consumption and economic growth is tested and ascertained we discover a in the low income group there exists no causal relationship between energy consumption and economic growth b in the middle income groups lower and upper middle income groups economic growth leads energy consumption positively c in the high income group countries economic growth leads energy consumption negatively after further in depth analysis of energy related data the results indicate that in the high income group there is a great environmental improvement as a result of more efficient energy use and reduction in the release of co2 however in the upper middle income group countries after the energy crisis the energy efficiency declines and the release of co2 rises since there is no evidence indicating that energy consumption leads economic growth in any of the four income groups a stronger energy conservation policy should be pursued in all countries

the link between renewable energy production and gross domestic product in africa a comparative study between 1980 and 2008 abstract renewable energy re projects are arguably one of the most important strategies that can be used in the mitigation of climate change impacts at the same time re technologies can generate clean energy and potentially boost the economy of the african continent it is thus not surprising that recent studies have investigated the relationship between re and economic growth in some african countries however the limitation of these reductionist analytical frameworks is that they can conceal the true regional picture in terms of the link between investments in re technologies and gross domestic product gdp this holistic analysis is important in order to inform regional policies on climate change the article uses statistical analytic techniques to examine the correlation between re production and economic growth across different blocks of the african continent between 1980 and 2008 the analysis is between geographical blocks e g southern africa western africa etc and between oil and non oil producing blocks generally speaking while there exists a similar pattern in all the studied blocks in terms of mean standard deviation and correlation between re and gdp a few exceptions can be found for instance the rise in re gdp correlation from 1992 1993 onwards was conspicuously higher in north africa and oil producing countries compared to all the other blocks similarly southern africa was the only block where the correlation between re and gdp was negative throughout the period under review except 1988 1989 and 1997 when it was positive

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

does renewable and or non renewable energy consumption matter for total factor productivity tfp growth evidence from the brics abstract studies proved that output growth is mainly associated with the total factor productivity tfp growth and variables that affect the tfp have an important explanatory power on output in this regards the aim of this study is to examine the causal relationship between different types of energy consumption and tfp growth in the brics from 1992 to 2012 a panel bootstrap granger causality test by konya 2006 68 was employed to investigate the direction of possible connection between energy consumption and tfp growth results show that no remarkable causal link exists between renewable energy consumption and tfp growth in the brics however in the case of non renewables energy consumption creates a positive externality that contributes economic development in brazil and south africa by the growth of tfp as well as energy use itself in this respect policies that promote coal and non renewable electricity consumption in south africa and natural gas consumption in brazil may be beneficial for their economic development

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

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

driving force of rising renewable energy in china environment regulation and employment abstract this paper studies the development of renewable energy in china by examining the driving force of environment quality regulation and employment on renewable energy generation we adopt renewable energy as a metric for environment quality and test the relationship between renewable energy and income using environment kuznets curve ekc theories the impact of employment on renewable energy is tested and dummy variables are used to indicate when the regulation was in effect the results show that there exists a quadratic relationship between renewable energy and income but the results fail to provide that the renewable energy generation is a job creator when the lagged unemployment rate is included as an explaining variable we consider the employment population and the finding shows that the employment can promote the development of renewable energy the regulation has significantly positive impacts on renewable energy the interaction of income and employment show that along with the income increases the impacts of employment on renewable energy decrease our findings are helpful for government to figure out the determinants for rising the renewable energy generation and take efficient measures to promote its development

growth and energy nexus in europe revisited evidence from a fixed effects political economy model this is an empirical study on the causal relationship between economic growth and energy for 26 european countries in a multivariate panel framework over the period 1975 2009 using a two way fixed effects model and including greenhouse gas emissions capital fossil energy consumption herfindahl index political competition and number of years the government chief executive stays in office political stability as independent variables in the model empirical results confirm bidirectional causality between growth and political stability capital and political stability capital and fossil energy consumption whether political stability favors the implementation of growth or leads to corruption demands further research

rational herding in microloan markets microloan markets allow individual borrowers to raise funding from multiple individual lenders we use a unique panel data set that tracks the funding dynamics of borrower listings on prosper com the largest microloan market in the united states we find evidence of rational herding among lenders well funded borrower listings tend to attract more funding after we control for unobserved listing heterogeneity and payoff externalities moreover instead of passively mimicking their peers irrational herding lenders engage in active observational learning rational herding they infer the creditworthiness of borrowers by observing peer lending decisions and use publicly observable borrower characteristics to moderate their inferences counterintuitively obvious defects e g poor credit grades amplify a listing s herding momentum as lenders infer superior creditworthiness to justify the herd similarly favorable borrower characteristics e g friend endorsements weaken the herding effect as lenders attribute herding to these observable merits follow up analysis shows that rational herding beats irrational herding in predicting loan performance this paper was accepted by pradeep chintagunta marketing

the impact of financial development on energy consumption in emerging economies abstract financial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand this study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries several different measures of financial development are examined using a panel data set on 22 emerging countries covering the period 1990 2006 the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to gdp stock market value traded to gdp and stock market turnover the implications of these results for energy policy are discussed

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

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

exploring the relationship between agricultural electricity consumption and output new evidence from turkish regional data abstract this study investigates the relationship between agricultural electricity consumption and agricultural output for a panel of 12 regions of turkey for the period 1995 2013 in order to reveal the possible heterogeneity between regions empirical analyses are conducted for the whole panel data and two sub groups within the panel data namely coastal regions and non coastal regions the results from several panel unit root tests indicate that electricity consumption and output are stationary process at their levels for overall panel and the two specific groups by using the ols with regional fixed effects this study finds that coefficient estimate of electricity consumption on output is statistically significant and positive for overall regions coastal regions and non coastal regions in addition the results from the dumitrescu hurlin granger causality test show that there is unidirectional causality running from agricultural output to electricity consumption for non coastal regions and there is bidirectional causality between agricultural electricity consumption and output for overall panel and coastal regions findings and policy implications are further discussed

governance and renewable energy investment in mena countries how does trade matter abstract the middle east and north africa mena countries have recently developed renewable energy re markets however their rate of investment in renewable energy remains small compared to other regions in the world despite their relatively abundant endowments particularly in wind and solar while the literature identifies some barriers to investment in renewable energy we assume that the investment of mena countries could be impeded by specific governance factors furthermore we consider recent literature showing that trade openness reduces the negative effects of weak governance in this paper we empirically investigate the link between governance openness and renewable energy investment in the mena region using panel data for 15 mena countries over the period 1996 2013 our results prove that high institutional quality is associated with re investment in mena countries in addition this relationship seems to be conditional on the trade regime our results are robust to several measures of renewable energy investment and governance as well as to an alternative econometric set up

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

the importance of energy quality in energy intensive manufacturing evidence from panel cointegration and panel fmols this paper expands on the panel gdp energy cointegration modeling literature it does so by using data disaggregated along sectoral lines and adjusting energy consumption for the quality of the energy source e g electricity is of higher quality than oil which is of higher quality than coal in order to examine the role of energy quality in the five most energy intensive manufacturing sectors iron and steel non ferrous metals non metallic minerals chemicals and pulp and paper the database was constructed by combing energy consumption and energy price data to construct the energy quality index from the iea with economic data value added labor employed and physical capital from the oecd s structural analysis database in addition to finding the variables analyzed are panel i 1 and cointegrated for each sector based panel the long run elasticity estimates from panel fmols indicate the importance of energy quality primarily the shift toward the use of high quality electricity in these energy intensive manufacturing sectors in each case the elasticity for energy quality is greater than that for conventionally measured energy consumption sometimes orders of magnitude greater indeed the elasticity of conventionally measured energy consumption is insignificant to very small for three of the five sectors also when using the energy quality measure the importance of energy consumption relative to the other production factors stands out such results are useful for both energy gdp cointegration causality modelers and cge modelers who may need to estimate elasticities

energy income causality in oecd countries revisited the key role of capital stock abstract this paper applies a recent advance in panel analysis to estimate the panel cointegration and panel vector error correction models for a set of 22 oecd countries using annual data covering the period 1960 2001 we investigate the relationship between energy consumption and income using an aggregate production function and controlling for the capital stock as well as by exploring the dynamic directions of the causality among these three variables we firstly obtain solid and convincing evidence of a fairly strong long run equilibrium relationship among them secondly it is found that the capital stock is much more productive than energy consumption third it is observed that neglecting the impact of the capital stock on income tends to overestimate the effect of energy consumption finally the panel causality test shows bi directional causal linkages exist among energy consumption the capital stock and economic growth overall the findings reveal that the capital stock plays a critical role in realizing the dynamic relationship between energy and income

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

co integration and causality testing of the energy gdp relationship a cross country study in this paper the energy gdp relationship in per capita terms is analysed for a sample of 16 countries over the time period 1950 51 to 1984 85 co integration theory is first used to test whether a long run equilibrium relation exists between the two variables after co integration has been established causality measures are constructed to quantify various types of feedback between energy and gdp for each country it is then examined whether the causality measures are longitudinally related to certain basic economic indicators of the countries in the sample

energy conservation and sustainable economic growth the case of latin america and the caribbean this study examines the causal relationships among energy consumption economic growth and carbon dioxide emissions in twenty countries from latin america and the caribbean region the methodology includes the use of phillips and perron pp tests a cointegration model with vector error correction modeling vecm and vector autoregression var with granger causality the study concludes that of the twenty countries analyzed only in four of them will it be possible to implement energy conservation polices without affecting their economic growth four others are not able to consider an energy conservation policy with economic growth and the other twelve should focus on their economic growth before adopting any conservation policies energy efficiency was found in this region especially in the countries which have both cointegration and short term equilibrium

energy consumption income and carbon emissions in the united states abstract this paper investigates the effect of energy consumption and output on carbon emissions in the united states earlier research focused on testing the existence and or shape of an environmental kuznets curve without taking energy consumption into account we investigate the granger causality relationship between income energy consumption and carbon emissions including labor and gross fixed capital formation in the model we find that income does not granger cause carbon emissions in the us in the long run but energy use does hence income growth by itself may not become a solution to environmental problems

crowdfunding and social influence an empirical investigation abstractthe literature so far provides no in depth investigation of the determinants of decisions to contribute to crowdfunding platforms the present article draws on work measuring the decisions and prosocial behaviours of individuals in relation to public goods and uses survey data on crowdfunding behaviour we surveyed an original sample of individuals in france to explore individual decisions and amounts of funding chosen to support a creative project we show that in non equity crowdfunding contributing money is associated with altruism our findings suggest that the warm glow effect influences the level of the contribution we show also those monetary incentives could crowd out the decisions to contribute of crowdfunders our study has some implications for business strategy since understanding why people contribute adds to our knowledge about the incentives that might encourage them to increase their contributions and allows predictions about how changes to how crowdfunding platforms are man

energy consumption economic growth and carbon emissions challenges faced by an eu candidate member abstract this paper investigates the long run granger causality relationship between economic growth carbon dioxide emissions and energy consumption in turkey controlling for gross fixed capital formation and labor the most interesting result is that carbon emissions seem to granger cause energy consumption but the reverse is not true the lack of a long run causal link between income and emissions may be implying that to reduce carbon emissions turkey does not have to forgo economic growth

co2 emissions in australia economic and non economic drivers in the long run abstractaustralia has sustained a relatively high economic growth rate since the 1980s compared to other developed countries per capita co2 emissions tend to be highest amongst oecd countries creating new challenges to cut back emissions towards international standards this research explores the long run dynamics of co2 emissions economic and population growth along with the effects of globalization tested as contributing factors we find economic growth is not emission intensive in australia while energy consumption is emissions intensive second in an environment of increasing population our findings suggest australia needs to be energy efficient at the household level creating appropriate infrastructure for sustainable population growth high population growth and open migration policy can be detrimental in reducing co2 emissions finally we establish globalized environment has been conducive in combating emissions in this respect we establish the beneficial effect of economic globalization

delegation as commitment the case of income tax audits in this article we study the value of delegating authority over income tax audit policy arising from the incompleteness of contracts consider a utilitarian government whose ability to commit is limited to aggregate dimensions of its audit policy as publicly verifiable information about detailed allocations of audit budgets is not available we show that the welfare level associated with the full commitment solution can be attained by delegating authority over audit policy to a manager the latter is offered a simple incentive scheme based only on the aggregate variables which are publicly observable in contrast if the government retains authority direct commitment to these same variables does not allow the full commitment welfare level to be achieved thus despite sharing a common informational basis delegation may perform better than centralized arrangements in the presence of incomplete contracts

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

energy consumption and economic growth in central america evidence from a panel cointegration and error correction model abstract this study examines the relationship between energy consumption and economic growth for six central american countries over the period 1980 2004 within a multivariate framework given the relatively short span of the time series data a panel cointegration and error correction model is employed to infer the causal relationship based on the heterogeneous panel cointegration test by pedroni pedroni p 1999 critical values for cointegration tests in heterogeneous panels with multiple regressors oxford bulletin of economics and statistics 61 653 670 pedroni p 2004 panel cointegration asymptotic and finite sample properties of pooled time series tests with an application to the ppp hypothesis new results econometric theory 20 597 627 cointegration is present between real gdp energy consumption the labor force and real gross fixed capital formation with the respective coefficients positive and statistically significant the granger causality results indicate the presence of both short run and long run causality from energy consumption to economic growth which supports the growth hypothesis