共查询到20条相似文献,搜索用时 15 毫秒
1.
《Energy Policy》2016
This study investigates the long and short run relationships among carbon emissions, energy consumption and economic growth in India at the aggregated and disaggregated levels during 1971–2014. The autoregressive distributed lag model is employed for the cointegration analyses and the vector error correction model is applied to determine the direction of causality between variables. Results show that a long run cointegration relationship exists and that the environmental Kuznets curve is validated at the aggregated and disaggregated levels. Furthermore, energy (total energy, gas, oil, electricity and coal) consumption has a positive relationship with carbon emissions and a feedback effect exists between economic growth and carbon emissions. Thus, energy-efficient technologies should be used in domestic production to mitigate carbon emissions at the aggregated and disaggregated levels. The present study provides policy makers with new directions in drafting comprehensive policies with lasting impacts on the economy, energy consumption and environment towards sustainable development. 相似文献
2.
This study investigates the relationship between energy use and economic growth by incorporating financial development, international trade and capital as important factors of production function in case of China over the period of 1971–2011. The ARDL bounds testing approach to cointegration was applied to examine long run relationship among the series while stationarity properties of the variables was tested by applying structural break test.Our empirical evidence confirmed long run relationship among the variables. The results showed that energy use, financial development, capital, exports, imports and international trade have positive impact on economic growth. The Granger causality analysis revealed that unidirectional causal relationship running from energy use to economic growth. Financial development and energy use Granger cause each other. There is bidirectional causality between international trade and energy use. The feedback relation exists between financial development and international trade. There is also bidirectional causality exists between capital and energy demand, financial development and economic growth and, international trade and economic growth. This paper makes significant contribution in energy economics and opens up new direction for policy makers to explore new and alternative sources of energy which would be helpful in meeting the rising demand of energy due to sustained rate of economic growth. 相似文献
3.
This article examines the dynamic relationship between renewable and non-renewable energy consumption and industrial output and GDP growth in OECD countries using data over the period of 1980–2011. The panel cointegration technique allowing structural breaks is used for empirical investigation. The results show that there is a long-term equilibrium relationship among non-renewable and renewable energy sources, industrial output and economic growth. The panel causality analyses show bidirectional causality between industrial output and both renewable and non-renewable energy consumption in the short and long run. However, there is evidence of bidirectional short-run relationship between GDP growth and non-renewable energy consumption while unidirectional causality between GDP growth and renewable energy consumption. These results indicate that OECD economies still remain energy-dependent for their industrial output as well as overall economic growth. However, expansion of renewable energy sources is a viable solution for addressing energy security and climate change issues, and gradually substituting renewable to non-renewable energy sources could enhance a sustainable energy economy. 相似文献
4.
This paper investigates the asymmetric relationship between energy consumption and economic growth by incorporating financial development, capital and labour into a production function covering the Indian economy from 1960Q1–2015Q4. The nonlinear autoregressive distributed lag bounds testing approach is applied to examine the asymmetric cointegration between the variables. An asymmetric causality test is also employed to examine the causal association between the considered variables. The results indicate cointegration between the variables in the presence of asymmetries. The asymmetric causality results show that only negative shocks to energy consumption have impacts on economic growth. In the same vein, only negative shocks to financial development have impacts on economic growth. By contrast, symmetrically, capital formation causes economic growth. Finally, over the study period, a neutral effect exists between the labour force and economic growth in India. The implications of these results for growth policies in India are also discussed. 相似文献
5.
The paper develops a function of energy consumption, population growth, economic growth and urbanization process, and provides fresh empirical evidences for urbanization and energy consumption for China over the period 1978–2008 through the use of ARDL testing approach and factor decomposition model. The results of the bounds test show that there is a stable long run relationship amongst total energy consumption, population, GDP (Gross domestic product) and urbanization level when total energy consumption is the dependent variable in China. The results of the causality test with ECM (error correction model) specification, the short run and long run dynamics of the interested variables are tested, indicating that there exists only a unidirectional Granger causality running from urbanization to total energy consumption both in the long run and in the short run. At present, the contribution share which urbanization drags the energy consumption is smaller than that in the past, and the intensity holds a downward trend. Therefore, together with enhancing energy efficiency, accelerating the urbanization process that can cut reliance on resource and energy dependent industries is a fundamental strategy to solve the sustainable development dilemma between energy consumption and urbanization. 相似文献
6.
This paper examines the causal relationship between the electric power industry and the economic growth of Cote d'Ivoire. Using the data from 1971 to 2008, a test was conducted for the cointegration and Granger causality within an error correction model. Results from these tests reveal a bidirectional causality between per capita electricity consumption and per capita GDP. A unidirectional causality running from electricity consumption to industry value added appears in the short run. Economic growth is found to have great effects on electricity consumption and a reverse causality from electricity to economic growth may also appear. In the long run, there is a unidirectional causality between electricity and both GDP and industry value added. From these findings, we conclude that the country will be energy dependent in the long run and must therefore secure the production network from shortfalls to ensure a sustainable development path. Accordingly, government should adopt policies aimed at increasing the investment in the sector by stepping up electricity production from existing and new energy sources. 相似文献
7.
This paper empirically examines the dynamic causal relationships between carbon dioxide emissions, energy consumption, economic growth, trade openness and urbanization for the panel of newly industrialized countries (NIC) using the time series data for the period 1971–2007. Using four different panel unit root tests it is found that all panel variables are integrated of order 1. From the Johansen Fisher panel cointegration test it is found that there is a cointegration vector among the variables. The Granger causality test results support that there is no evidence of long-run causal relationship, but there is unidirectional short-run causal relationship from economic growth and trade openness to carbon dioxide emissions, from economic growth to energy consumption, from trade openness to economic growth, from urbanization to economic growth and from trade openness to urbanization. It is found that the long-run elasticity of carbon dioxide emissions with respect to energy consumption (1.2189) is higher than short run elasticity of 0.5984. This indicates that over time higher energy consumption in the newly industrialized countries gives rise to more carbon dioxide emissions as a result our environment will be polluted more. But in respect of economic growth, trade openness and urbanization the environmental quality is found to be normal good in the long-run. 相似文献
8.
《Energy Policy》2013
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. 相似文献
9.
Soheila Khoshnevis Yazdi Ehsan Ghorchi Beygi 《Energy Sources, Part B: Economics, Planning, and Policy》2018,13(1):13-20
This empirical study examines the impact of economic growth, renewable energy, energy consumption, financial developments, trade openness, and urbanization growth on CO2 emissions using the Pooled Mean Group (PMG) approach and Granger Causality in the EKC model a data set of 25 African countries over the period 1985–2015. The results showed that increases in renewable energy consumption and trade openness decrease CO2 emissions, and the EKC hypothesis is supported for the African countries. Granger’s causality results indicated the presence of bidirectional causality between economic growth and financial development and CO2 emissions. These results could support policymakers manage financial development and consider clean investments and other ecological aspects for sustainable urban development. The causality tests showed a unidirectional causality running from renewable energy consumption to CO2 emissions in African countries. 相似文献
10.
This paper applies panel data analysis to examine the short-run dynamics and long-run equilibrium relationships among nuclear energy consumption, oil prices, oil consumption, and economic growth for developed countries covering the period 1971–2006. The panel cointegration results show that in the long run, oil prices have a positive impact on nuclear energy consumption, suggesting the existence of the substitution relationship between nuclear energy and oil. The long-run elasticity of nuclear energy with respect to real income is approximately 0.89, and real income has a greater impact on nuclear energy than do oil prices in the long run. Furthermore, the panel causality results find evidence of unidirectional causality running from oil prices and economic growth to nuclear energy consumption in the long run, while there is no causality between nuclear energy consumption and economic growth in the short run. 相似文献
11.
The pricing mechanism for energy is not in line with the international standards, because the energy prices are controlled by the government partly or completely in China. Chinese government made a lot of efforts to improve the pricing mechanism for energy. The relations between Chinese energy prices and energy consumption are the foundations to reform the mechanism. In this paper, the relations between Chinese energy consumption and energy prices are researched by cointegration equations, impulse response functions, granger causality and variance decomposition. The cointegration relations among energy prices, energy consumption and economic outputs show that higher energy price will decrease energy consumption in Chinese industrial sectors but will not reduce the economic output in the long run. The cointegration relation between energy price and household energy consumption shows that higher energy price will decrease household energy consumption in the long run and increase it in the short run. So Chinese government should deepen the reform of pricing mechanism for energy, and increase the energy prices reasonably to save energy. 相似文献
12.
This paper examines the long run and causal relationship issues between economic growth, carbon emissions, energy consumption and employment ratio in Turkey by using autoregressive distributed lag bounds testing approach of cointegration. Empirical results for Turkey over the period 1968–2005 suggest an evidence of a long-run relationship between the variables at 5% significance level in Turkey. The estimated income elasticity of carbon emissions per capita is ?0.606 and the income elasticity of energy consumption per capita is 1.375. Results for the existence and direction of Granger causality show that neither carbon emissions per capita nor energy consumption per capita cause real GDP per capita, but employment ratio causes real GDP per capita in the short run. In addition, EKC hypothesis at causal framework by using a linear logarithmic model is not valid in Turkish case. The overall results indicates that energy conservation policies, such as rationing energy consumption and controlling carbon dioxide emissions, are likely to have no adverse effect on the real output growth of Turkey. 相似文献
13.
The aim of this paper is to examine the causal relationship between financial development, trade, economic growth, energy consumption and carbon emissions in Turkey for the 1960–2007 period. The bounds F‐test for cointegration test yields evidence of a long-run relationship between per capita carbon emissions, per capita energy consumption, per capita real income, the square of per capita real income, openness and financial development. The results show that an increase in foreign trade to GDP ratio results an increase in per capita carbon emissions and financial development variable has no significant effect on per capita carbon emissions in the long- run. These results also support the validity of EKC hypothesis in the Turkish economy. It means that the level of CO2 emissions initially increases with income, until it reaches its stabilization point, then it declines in Turkey. In addition, the paper explores causal relationship between the variables by using error-correction based Granger causality models. 相似文献
14.
The impact of growth, energy and financial development on the environment in China: A cointegration analysis 总被引:2,自引:0,他引:2
This article aims to investigate the impact of financial development, economic growth and energy consumption on environmental pollution in China from 1953 to 2006 using the Autoregressive Distributed Lag (ARDL) bounds testing procedure. The main objective is to examine the long run equilibrium relationship between financial development and environmental pollution. The results of the analysis reveal a negative sign for the coefficient of financial development, suggesting that financial development in China has not taken place at the expense of environmental pollution. On the contrary, it is found that financial development has led to a decrease in environmental pollution. It is concluded that carbon emissions are mainly determined by income, energy consumption and trade openness in the long run. Moreover, the findings confirm the existence of an Environmental Kuznets Curve in the case of China. 相似文献
15.
This study aims at examining the short-run and long-run causal link between economic growth, energy consumption and financial development by using data set of 6 SMCs for the 1995–2015 periods. The basic testing procedure requires four steps: ADF and PP unit root tests, Bound tests for Co-integration, ARDL approach and VECM method. The results confirm cointegration between the variables. It means that the long-run relationship exists. The short-run causal relationships (unidirectional) exist at least once for each country (except Egypt). The Granger causality results for individual countries give mixed results. These results urge for the attention of the policy makers in SMCs to design a comprehensive energy conservation policy to minimize the consequences of massive energy consumption on economic growth by adding financial development. 相似文献
16.
Causality between energy consumption and economic growth in India: a note on conflicting results 总被引:5,自引:0,他引:5
This note examines the different direction of causal relation between energy consumption and economic growth in India. Applying Engle–Granger cointegration approach combined with the standard Granger causality test on Indian data for the period 1950–1996, we find that bi-directional causality exists between energy consumption and economic growth. Further, we apply Johansen multivariate cointegration technique on the different set of variables. The same direction of causality exists between energy consumption and economic growth. This is different from the results obtained in earlier studies. 相似文献
17.
Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan 总被引:2,自引:0,他引:2
This paper studies the stability between energy consumption and GDP for Taiwan during 1954–2003. We use aggregate as well as various disaggregate data of energy consumption, including coal, oil, gas, and electricity, to employ the unit root tests and the cointegration tests allowing for structural breaks. Our main findings are: First, though gas consumption seems to have structural breaks in the 1960s, after considering the structural breaks, the series is a stationary variable when Taiwan adopted its expansionary export trade policy. Second, we find that different directions of causality exist between GDP and various kinds of energy consumption. The empirical result shows unanimously in the long run that energy acts as an engine of economic growth, and that energy conservation may harm economic growth. Third, the cointegration between energy consumption and GDP is unstable, and some economic events may affect the stability. Overall, we do find the structural breakpoints, and they look to match clearly with the corresponding critical economic incidents. 相似文献
18.
Usama Al-Mulali Che Normee Binti Che Sab 《Energy Sources, Part B: Economics, Planning, and Policy》2018,13(5):257-263
This study examines the impact of electricity consumption on the economic growth in the Middle East countries during the period 1990–2008. The panel model is used in this study. Based on the cointegration test results, it is found that CO2 emission and electricity consumption have a long-run relationship with economic growth. Moreover, there is also a bi-directional Granger causality between electricity consumption, CO2 emission, and economic growth in both the short run and the long run. The results of this study show clearly that electricity consumption plays an important role in the economic growth of the Middle East countries. 相似文献
19.
Energy consumption and economic growth: Evidence from China at both aggregated and disaggregated levels 总被引:9,自引:0,他引:9
Using a neo-classical aggregate production model where capital, labor and energy are treated as separate inputs, this paper tests for the existence and direction of causality between output growth and energy use in China at both aggregated total energy and disaggregated levels as coal, oil and electricity consumption. Using the Johansen cointegration technique, the empirical findings indicate that there exists long-run cointegration among output, labor, capital and energy use in China at both aggregated and all three disaggregated levels. Then using a VEC specification, the short-run dynamics of the interested variables are tested, indicating that there exists Granger causality running from electricity and oil consumption to GDP, but does not exist Granger causality running from coal and total energy consumption to GDP. On the other hand, short-run Granger causality exists from GDP to total energy, coal and oil consumption, but does not exist from GDP to electricity consumption. We thus propose policy suggestions to solve the energy and sustainable development dilemma in China as: enhancing energy supply security and guaranteeing energy supply, especially in the short run to provide adequate electric power supply and set up national strategic oil reserve; enhancing energy efficiency to save energy; diversifying energy sources, energetically exploiting renewable energy and drawing out corresponding policies and measures; and finally in the long run, transforming development pattern and cut reliance on resource- and energy-dependent industries. 相似文献
20.
Energy consumption and economic growth in New Zealand: Results of trivariate and multivariate models
This study examines the energy consumption–growth nexus in New Zealand. Causal linkages between energy and macroeconomic variables are investigated using trivariate demand-side and multivariate production models. Long run and short run relationships are estimated for the period 1960–2004. The estimated results of demand model reveal a long run relationship between energy consumption, real GDP and energy prices. The short run results indicate that real GDP Granger-causes energy consumption without feedback, consistent with the proposition that energy demand is a derived demand. Energy prices are found to be significant for energy consumption outcomes. Production model results indicate a long run relationship between real GDP, energy consumption and employment. The Granger-causality is found from real GDP to energy consumption, providing additional evidence to support the neoclassical proposition that energy consumption in New Zealand is fundamentally driven by economic activities. Inclusion of capital in the multivariate production model shows short run causality from capital to energy consumption. Also, changes in real GDP and employment have significant predictive power for changes in real capital. 相似文献