A literature survey on energy-growth nexus
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Dosyalar
Tarih
2010
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
ELSEVIER SCI LTD
Erişim Hakkı
info:eu-repo/semantics/closeAccess
Özet
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.
Açıklama
WOS: 000273081700035
Anahtar Kelimeler
Energy Consumption, Electricity Consumption, Economic Growth
Kaynak
Energy Polıcy
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
38
Sayı
1
