Energy Consumption and GDP in Asean Countries: Bootstrap-Corrected Panel and Time Series Causality Tests

Yıldırım, Ertuğrul; Aslan, Alper; Öztürk, İlhan

doi:10.1142/s0217590814500106

Cited by 49 publications

(25 citation statements)

References 28 publications

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“…Therefore, the claim by the hypothesis of energy-growth is that a conservative energy policy may be detrimental to energy consumption as well as economic growth. A second grouping of studies [7][8][9][10][11][12][13][14] an unidirectional causality [15] relationship between economic growth and energy consumption, which supported the conservative hypothesis. This hypothesis is contrasting to the growth hypothesis, which implies that conservative energy policy does not harm economic growth.…”

Section: Introductionmentioning

confidence: 63%

Dynamics of technological innovation, energy consumption, energy price and economic growth in Denmark

Murad

Alam

Noman

et al. 2018

Env Prog and Sustain Energy

Self Cite

115

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This study investigates the dynamic relationships between technological innovation, consumption of energy, energy price, and economic growth in Denmark during the period from 1970 until 2012, using multivariate setting to examine time‐series data. The analysis employs the autoregressive distributed lag (ARDL) approach to co‐integration to examine both the short and long run dynamics among the variables. Furthermore, the study uses the Granger procedure within the VAR framework to identify causality among the variables. The model used in this study is found to be sound, a diagnosis of the reliability of the model reached by testing normality, functional form, serial correlation, and heteroscedasticity, with stability of the model tested using a cumulative sum and cumulative sum square test, based on recursive regression residuals. The ARDL approach to co‐integration reveals that real GDP growth positively influences energy consumption as well as significantly in both the short run and long run, while energy prices and technological innovation influence energy consumption negatively and significantly. The results ascertain that energy consumption and economic growth are independent of each other, and thus they support a neutral hypothesis for Denmark. Besides, both the technological innovation and energy prices are found to be Granger cause energy consumption. Therefore, the study suggests that Denmark should adopt conservative energy policy using technological innovation and energy prices as instruments to achieve energy security and protect the environment from pollution. © 2018 American Institute of Chemical Engineers Environ Prog, 38: 22–29, 2019

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Section: Introductionmentioning

confidence: 63%

Dynamics of technological innovation, energy consumption, energy price and economic growth in Denmark

Murad

Alam

Noman

et al. 2018

Env Prog and Sustain Energy

Self Cite

115

View full text Add to dashboard Cite

show abstract

“…Therefore the claim by the hypothesis of energy-growth is that a conservative energy policy may be detrimental to energy consumption as well as economic growth. A second grouping of studies ( [7], [8], [9], [10], [11], [12], [13], [14])) found an unidirectional causality [15] relationship between economic growth and energy consumption, which supported the conservative hypothesis. This hypothesis is contrasting to the growth hypothesis, which implies that conservative energy policy does not harm economic growth.…”

Section: Introductionmentioning

confidence: 65%

Dynamics of Technological Innovation, Energy Consumption, Energy Price and Economic Growth in Denmark

Murad¹,

Alam²,

Noman³

et al. 2019

Preprint

Self Cite

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This study investigates the dynamic relationships between technological innovation, consumption of energy, energy price and economic growth in Denmark during the period from 1970 until 2012, using multivariate setting to examine time-series data. The analysis employs the autoregressive distributed lag (ARDL) approach to co-integration in order to examine both the short and long run dynamics among the variables. Furthermore, the study uses the Granger procedure within the VAR framework to identify causality among the variables. The model used in this study is found to be sound, a diagnosis of the reliability of the model reached by testing normality, functional form, serial correlation, and heteroscedasticity, with stability of the model tested using a cumulative sum and cumulative sum square test, based on recursive regression residuals. The ARDL approach to co-integration reveals that real GDP growth positively influences energy consumption as well as significantly in both the short run and long run, while energy prices and technological innovation influence energy consumption negatively and significantly. The results ascertain that energy consumption and economic growth are independent of each other, and thus they support a neutral hypothesis for Denmark. Besides, both the technological innovation and energy prices are found to be Granger cause energy consumption. Therefore, the study suggests that Denmark should adopt conservative energy policy using technological innovation and energy prices as instruments to achieve energy security and protect the environment from pollution.

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“…The Japanese government has demonstrated its high governing capacity in terms of leadership, and recombinative, institutional, enabling, and inducement capacities. Yildirim et al (2014) studied the relationship between GDP per capita and energy consumption in the Association of Southeast Asian Nations (ASEAN) member states throughout 1971-2009. The paper concluded that the relationship is dissimilar among ASEAN member states.…”

Section: Literature Reviewmentioning

confidence: 99%

Analyzing Energy Transition Patterns in Asia: Evidence From Countries With Different Income Levels

Taghizadeh–Hesary¹,

Rasoulinezhad²

2020

Front. Energy Res.

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Energy transition as the issue of striving to use more environmentally friendly energy sources instead of fossil fuels is a crucial debate for scholars. A key point is how macroeconomic variables can accelerate the energy transition movement in different regions, which may lead to similarities in energy transition patterns among various regions. The main purpose of this study is to determine how energy transition patterns depend on economic variables in Asian economies, classifying based on their income level. To this end, we collected the related variables for 45 economies in Asia over the period 1993-2018 and conducted estimation using the generalized method of moments (GMM) approach. The major results revealed that economic growth has a positive relationship with the energy transition, while CO 2 emissions negatively influence energy transition. Furthermore, in both sub-sample groups (i.e., high and upper-middle-income and low and lower-middle-income groups) an increase in population lows the energy transition process. As an important recommendation, Asian economies with different income levels need different policies to improve and accelerate the energy transition movements. Especially in the developing and emerging economies that have higher economic growth rate and more energy demand, the governments need to implement various supportive policies for easing the access to electricity from green resources in line with the sustainable development goals (SDGs). This is more essential in the current low oil price era.

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Energy Consumption and GDP in Asean Countries: Bootstrap-Corrected Panel and Time Series Causality Tests

Cited by 49 publications

References 28 publications

Dynamics of technological innovation, energy consumption, energy price and economic growth in Denmark

Dynamics of technological innovation, energy consumption, energy price and economic growth in Denmark

Dynamics of Technological Innovation, Energy Consumption, Energy Price and Economic Growth in Denmark

Analyzing Energy Transition Patterns in Asia: Evidence From Countries With Different Income Levels

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