Energy consumption and economic growth: Parametric and non-parametric causality testing for the case of Greece

Dergiades, Theologos; Martinopoulos, Georgios; Tsoulfidis, Lefteris

doi:10.1016/j.eneco.2012.11.017

Cited by 126 publications

(56 citation statements)

References 75 publications

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“…Yuan et al [8] tested the relationship between energy consumption and economic growth in China under the framework of the neo-classical one-sector aggregate production function where energy was treated as the third input besides capital and labor. They estimated the causality from a vector error correction (VEC) model using an annual data from 1963 to 2005, and supported growth hypothesis for electricity and GDP, while conservation hypothesis for total energy and GDP, and so on [9][10][11][12][13]. Most of these researches employed nonstationary time series methods, the main drawback for these methods is lack of power in small samples, which may result in wrong conclusions.…”

Section: Literature Reviewmentioning

confidence: 99%

The Relationship between Energy Consumption and Economic Growth: Evidence from China’s Industrial Sectors

Guo

Wang

et al. 2015

Energies

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Abstract:In this article, the relationship between energy consumption and economic growth is examined from the viewpoint of China's industrial sectors. Panel data from 37 industrial sectors in China covering the period from 1998 to 2010 was used in this study. Not only first generation panel unit root tests and panel cointegration tests, but also second generation tests that account for dependence between cross-sectional units were employed. The empirical results reveal that both energy consumption and economic growth are integrated as order one, and they are cointegrated. Panel fully modified ordinary least squares estimators show that a 1% increase in energy consumption increases the real value added of industrial sectors by 0.871%, and a 1% increase in real value added of industrial sectors increases energy consumption by 1.103%. The panel vector error correction models for causality tests are estimated by a system generalized moment method. We find a unidirectional causal relation running from economic growth to energy consumption in the shortrun. In the long run, however, there is evidence of a unidirectional causality running from energy consumption to economic growth. OPEN ACCESSEnergies 2015, 8 9393

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Section: Literature Reviewmentioning

confidence: 99%

The Relationship between Energy Consumption and Economic Growth: Evidence from China’s Industrial Sectors

Guo

Wang

et al. 2015

Energies

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“…The (often unsubstantiated) assumption of linearity leads to 5 Nonparametric techniques have also been used to investigate the causal relationships between energy consumption and economic growth (e.g. Chiou-Wei et al, 2008;Cheng-Lang et al, 2010;Dergiades et al, 2013).…”

Section: Preliminary Data Analysismentioning

confidence: 99%

The CO 2 –growth nexus revisited: A nonparametric analysis for the G7 economies over nearly two centuries

et al. 2017

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Using a two-century long dataset and some recently popularized nonparametric econometric techniques, this study revisits the nexus between economic growth and carbon dioxide (CO 2 ) emissions for the G7 countries over nearly two centuries. The use of nonparametric modelling is warranted by the fact that long historical time series are often subject to structural breaks and other forms of nonlinearity over the course of time. We employ nonparametric cointegration and causality tests along with the cross-validated Local Linear technique analysis and validate the existence of the environmental Kuznets curve in six of the G7 countries -Canada, France, Germany, Italy, U.K. and the U.S.-and the only exception is Japan. Our empirical analysis also finds CO 2 emissions and economic growth to be cointegrated and closely interrelated in the Granger sense. Our results are robust and highlight the nonlinear causal relationship between the two variables.JEL Classification: C14, Q5.

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“…Modern researchers place special emphasis on analyzing the inter-relation between the GDP and economic activity, eventually affecting the developments of energy intensity in an economy (Dergiades et al 2013;Fuinhas and Marques 2012;Yuan et al 2008;Baranzini et al 2013). It is noted that energy consumption in economically developed countries is much more resilient to drastic changes in the economic situation than in developing countries.…”

Section: Introductionmentioning

confidence: 99%

Analysis of energy intensity trend as a tool for long-term forecasting of energy consumption

Эдер

Provornaya

2018

Energy Efficiency

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The paper presents retrospective developments of energy intensity of the world economy differentiated by regions and their levels of economic development. The analysis has revealed the persistent decreasing trend in energy intensity across all the macroregions and most countries, showing diversity of its course regarding both the starting point and rate of energy intensity reduction. Based on the time series, it has been shown that energy intensity of an economy is best described by an exponential trend, indicating a fairly uniform decline in energy efficiency in the economies. A power index of the exponential equation is one of the critical parameters characterizing reduction rate of energy intensity-the index of energy intensity reduction (IEIR). The authors have proposed an approach to measuring beta-convergence in time series of energy intensity, substantiating thereby convergence of economies. A comprehensive analysis of the time series and trend model served as a basis for prediction of variation in energy intensity of economies of the macro-regions for the period until 2040, which also included its quality and rationale verification. It has been shown that the trend method can be successfully applied to forecasting energy intensity developments to economically developed regions, whereas for developing countries such a forecast is less reliable. In these conditions, a comprehensive use of the trend model and the convergence model is necessary. The forecast of changes in energy intensity of the world economies grouped into macroregions until 2040 has shown that the economically developed countries of Europe will remain to be the energy efficiency leaders until the mid-twenty-first century. The energy intensity indicators for less developed regions will gradually converge in their domain; yet, they are not expected to reach the level of the economically developed countries by 2040.

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Energy consumption and economic growth: Parametric and non-parametric causality testing for the case of Greece

Cited by 126 publications

References 75 publications

The Relationship between Energy Consumption and Economic Growth: Evidence from China’s Industrial Sectors

The Relationship between Energy Consumption and Economic Growth: Evidence from China’s Industrial Sectors

The CO 2 –growth nexus revisited: A nonparametric analysis for the G7 economies over nearly two centuries

Analysis of energy intensity trend as a tool for long-term forecasting of energy consumption

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