The causal relationship between energy consumption and GDP in Albania, Bulgaria, Hungary and Romania: Evidence from ARDL bound testing approach

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dc.authoridÖzturk, Ilhan -- 0000-0002-6521-0901; Acaravci, Ali -- 0000-0002-6662-6175
dc.contributor.authorÖztürk, İlhan
dc.contributor.authorAcaravci, Ali
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:28:09Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:28:09Z
dc.date.issued2010
dc.departmentMeslek Yüksekokuluen_US
dc.descriptionWOS: 000278306300016en_US
dc.description.abstractThe purpose of this study is to investigate the causal relationship between energy and economic growth in Albania, Bulgaria, Hungary and Romania from 1980 to 2006 by employing energy use per capita, electric power consumption per capita and real GDP per capita variables. To examine this linkage, we use the two-step procedure from the Engle and Granger model: In first step, we explore the long-run relationships between the variables by using recently developed autoregressive distributed lag (ARDL) bounds testing approach of cointegration. Secondly, we employ a dynamic vector error correction (VEC) model to test causal relationships between variables. The bounds test yields evidence of a long-run relationship between energy use per capita and real GDP per capita and evidence of two-way (bidirectional) strong Granger causality between these variables only in Hungary. On the other hand, the ARDL bounds test results show that there is no a unique long-term or equilibrium relationship between energy consumption variables and real GDP per capita in Albania, Bulgaria and Romania. In other words, no cointegration exists between these variables in these three countries. The econometric analysis suggests that any causal relationships within dynamic error correction model for Albania. Bulgaria and Romania cannot be estimated.en_US
dc.identifier.doi10.1016/j.apenergy.2009.10.010
dc.identifier.endpage1943en_US
dc.identifier.issn0306-2619
dc.identifier.issue6en_US
dc.identifier.scopus2-s2.0-77950857875
dc.identifier.scopusqualityQ1
dc.identifier.startpage1938en_US
dc.identifier.urihttps://doi.org/10.1016/j.apenergy.2009.10.010
dc.identifier.urihttps://hdl.handle.net/20.500.12507/646
dc.identifier.volume87en_US
dc.identifier.wosWOS:000278306300016
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherELSEVIER SCI LTDen_US
dc.relation.ispartofApplıed Energy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectEnergy Consumptionen_US
dc.subjectEconomic Growthen_US
dc.subjectARDLen_US
dc.subjectCausalityen_US
dc.titleThe causal relationship between energy consumption and GDP in Albania, Bulgaria, Hungary and Romania: Evidence from ARDL bound testing approach
dc.typeArticle

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