The causal dynamics between coal consumption and growth: Evidence from emerging market economies |
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Authors: | Nicholas Apergis James E Payne |
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Affiliation: | 1. Department of Banking and Financial Management, University of Piraeus Karaoli and Dimitriou 80 Piraeus, Attiki 18534, Greece;2. College of Arts and Sciences, Illinois State University, Normal, IL 61790-4100, United States |
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Abstract: | This study examines the relationship between coal consumption and economic growth for 15 emerging market economies within a multivariate panel framework over the period 1980–2006. The heterogeneous panel cointegration results indicate there is a long-run equilibrium relationship between real GDP, coal consumption, real gross fixed capital formation, and the labor force. While in the long-run both real gross fixed capital formation and the labor force have a significant positive impact on real GDP, coal consumption has a significant negative impact. The panel causality tests show bidirectional causality between coal consumption and economic growth in both the short- and long-run. |
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Keywords: | Coal consumption Growth Panel Granger-causality |
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