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

energy security in bangladesh perspective an assessment and implication energy is a key indicator of the nation s overall economic as well as social development looking at the present energy demand scenario in bangladesh electricity demand has significantly increased over the past years most of the bangladesh s power plants are heavily dependent on expensive imported fossil fuel energy resources thus the power failure has become an acute problem for the country and adversely affects the socio economic development of the country consequently the shortage and constraint in availability of fossil fuels appeal to boost up the renewable energy sector in bangladesh in order to bring down the gap between demand and supply hence decisive steps to reform the power sector with a mandate to oversee these sectors urgently need to overcome current energy crisis facing in the country in this paper efforts have been made to summarize the availability current status strategies perspectives promotion policies major achievements and future potential of energy options in bangladesh

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

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

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

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

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

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

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

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

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

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

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

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

nepali fuelwood production and consumption regional and household distinctions substitution and successful intervention this article uses household data from nepal s two major populated regions and 27 of 59 districts within those regions to examine fuelwood consumption and production in contrast with a purely market assessment household analysis includes production which is consumed in the producing household the household regressions yield coefficients and elasticities that are very different from and more reliable than a comparable assessment of market demand and supply household results generally support the hypotheses that expenditures on fuelwood are a small share of total household activity and that fuelwood is not sufficiently scarce to alter household behaviour fuelwood is sufficiently scarce however to alter behaviour for those households in the hill region that do not participate in market exchange these households may be the best targets for public market interventions designed to alter fuelwood supply and deforestation

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

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

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

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

electricity consumption 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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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