Does electricity consumption panel Granger cause GDP? A new global evidence |
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| Authors: | Paresh Kumar Narayan Seema Narayan Stephan Popp |
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| Affiliation: | 1. School of Accounting, Economics and Finance, Faculty of Business and Economics, Deakin University, Melbourne, Australia;2. School of Economics, Finance, and Marketing, RMIT University, Melbourne, Australia;3. Department of Economics, University of Duisburg-Essen, Germany |
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| Abstract: | The goal of this paper is to undertake a panel data investigation of long-run Granger causality between electricity consumption and real GDP for seven panels, which together consist of 93 countries. We use a new panel causality test and find that in the long-run both electricity consumption and real GDP have a bidirectional Granger causality relationship except for the Middle East where causality runs only from GDP to electricity consumption. Finally, for the G6 panel the estimates reveal a negative sign effect, implying that increasing electricity consumption in the six most industrialised nations will reduce GDP. |
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