Purpose The purpose of this study is to find the causal relationship among energy consumption (renewable energy and non-renewable energy), gross domestic product (GDP) growth and carbon dioxide (CO2) emission for Brazil, Russia, India, China and South Africa for the period of 1990-2017. Design/methodology/approach The study uses bootstrap Dumitrescu and Hurlin panel causality test, which accepts heterogeneity and dependency in cross-sectional units across emerging countries. Findings The results find unidirectional causality from GDP to CO2 for India, China, Brazil, South Africa and no causality for Russia. The causality results from renewable energy consumption to GDP show that there is evidence of feedback hypothesis for China and Brazil, growth hypothesis for Russia, conservation hypothesis for South Africa and neutrality hypothesis for India. However, the results accept growth hypothesis for India, China, Russia, Brazil and neutrality hypothesis for South Africa. In the case of renewable energy and non-renewable energy consumption to CO2 emission, the results find convergence in India, Russia and South Africa and divergence in China and Brazil. Originality/value It is the first study that investigates the part of balanced economic growth, instead of simply financial development in those economies. Numerous studies have used diverse factors such as economic development, renewable energy, non-renewable energy and CO2 emission; however, the examination has used total GDP growth rate, energy consumption and CO2 emissions.

Purpose The purpose of this paper is to find out the relationship between energy consumption, economic growth and CO2 emissions for the G7 countries over the period 1971–2014. The second intent of the paper is to make a comparison whether it is renewable energy consumption, non-renewable energy consumption, or both that determine sustainable economic growth in G7 countries. Design/methodology/approach The authors testify the relationship among energy consumption, economic growth and CO2 emissions using numerous econometric techniques. The authors have applied pooled mean group autoregressive distribution model (ARDL) for long-run and short-run relationships for individual countries. Finally, the authors have applied Granger causality testing based on Dumitrescu and Hurlin (2012) and Emirmahmutoglu and Kose’s (2011) approach in order to check the causal relationship between energy consumption and economic growth, CO2 emission and economic growth and vice versa. Findings However, energy usage is a greater concern due to the increase in imported energy prices. With this preposition, new thinking needs to be carried out for energy usage and sustainable economic growth. The authors consider cross-sectional reliance and cross-country heterogeneity for seven developed countries. The tests utilized in this investigation include the bootstrap causality approach of Dumitrescu and Hurlin (2012) and LA–VAR approach of Toda and Yamamoto (1995) that permits testing the causality for every individual panel individuals independently. However, not very many empirical works bring these two separate streams of writing together to analyze the causal connections between energy consumption, economic growth and CO2 emission for G7 countries. Originality/value However, energy usage is a greater concern due to the increase in imported energy prices. Meanwhile, the exhaustive use of fossil fuels increases emission level which leads to climate change, global warming, reduction in agriculture productivity and danger to human life. With this preposition, new thinking needs to be carried out for energy usage and sustainable economic growth. There are limited number of studies addressing energy consumption, economic growth and CO2 emission relationship. This study employs different methodology to find out the relationship among the variables.

The main aim of the article is theoretical and empirical analysis of the causal relationship between the budget balance and the current account balance in India from the period 1990–2013. The article starts with a descriptive statistics to check the presence of normality in the frequency distribution followed by unit root test of non-stationarity. The presence of short-run and long-run relationship among the concerned variables, current account balance and fiscal balance has been tested by applying co-integration test followed by vector error correction mechanism, and finally it ends with Wald–Granger causality test. The results of the Wald–Granger casualty test claim that there exists bi-directional causality among the variables in the long-run whereas, the cointegration test results also conform the long-run association among the variables, and vector error correction mechanism results claim that there is no short-run relationship among the variables. The results indicate that the twin deficits hypothesis does exist in India.

This study examines the relationship between energy consumption and economic growth for BRICS countries within a multivariate panel framework for 1990–2012. The Pedroni (1999–2004) panel cointegration test shows a long-run relationship among GDP per capita renewable energy consumption, non-renewable energy consumption, and gross fixed capital formation. Finally, we apply panel error correction mechanism which reveals unidirectional causality from economic growth to renewable and non-renewable energy consumption. The results support the conservation hypothesis. In other words, no strong relationship is found between energy consumption to economic growth. These results indicate economic growth is the significant variable which boosts energy consumption in the BRICS countries. Higher the economic growth, higher will be the energy consumption.

No abstract