A survey of literature on energy consumption and economic growth

Mutumba, Geoffrey Ssebabi; Odongo, Tomson; Okurut, Nathan Francis; Bagire, Vicent

doi:10.1016/j.egyr.2021.10.107

Cited by 43 publications

(14 citation statements)

References 512 publications

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“…So far as this research is concerned, energy consumption by producers influences economic growth in Sub-Saharan Africa, and therefore, the more they consume, the greater the economic growth. Although Mutumba et al, 2021) found the relationship between energy consumption and economic growth to be inconclusive, these findings are in line with research done by researchers in this area (Siddique & Majeed 2015;Omri 2014;Gozgor et al 2018;Waheed et al 2019;Rao et al 2020;and Rahman & Velayutham 2020) and therefore confirm the data from this study.…”

Section: Figure 4 the Asymmetric Relationship Between Fdi Ce Eg And C...supporting

confidence: 93%

The Interconnection of Economic Growth, Carbon Dioxide Emission, Foreign Direct Investment and Energy Consumption: Evidence from Sub-Saharan Africa

Boohene

Darkwah

2023

Aswan University Journal of Environmental Studies

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This study examines how economic growth, carbon dioxide (CO 2 ) emissions, foreign direct investment (FDI), and energy consumption relate to each other in Sub-Saharan African (SSA) region by employing the quantile regression model to guesstimate the point coefficients of the explanatory variables on the response variables for a range of quantiles from 0.01 to 0.99. The researchers make use of data from 17 SSA countries, with the years ranging from 1975 to 2018. The study reveals a dynamic result for the estimated regression parameters of the quantile regression models for all the respective explanatory variables at varied quantiles. The effect of FDI inflow on economic growth is statistically significant at quantiles 0.1, 0.4 to 0.8 but not statistically significant at quantiles 0.2, 0.3, and 0.9 at 1% and 5% significance levels. Also, the effects of energy consumption on economic growth and the effect of CO 2 emissions on economic growth are statistically significant at quantiles of 0.1, 0.2, and 0.7 at 1% and 5% significance levels. Furthermore, the result established that the coefficients for FDI inflow, energy consumption, and CO 2 emissions are positive across all the specified quantiles except for quantile 0.1 for FDI inflow, which is negative. Evidently, there exists an asymmetric relationship between economic growth and its explanatory variables (FDI inflow, energy consumption, and CO 2 emissions) at diverse quantile levels in its restrictive distribution. The study recommends that governments in the various regions should authorize the environmental agencies to act within the power given to them by the constitution. Also, less polluting foreign production techniques such as greener energy should also be sought after.

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Section: Figure 4 the Asymmetric Relationship Between Fdi Ce Eg And C...supporting

confidence: 93%

The Interconnection of Economic Growth, Carbon Dioxide Emission, Foreign Direct Investment and Energy Consumption: Evidence from Sub-Saharan Africa

Boohene

Darkwah

2023

Aswan University Journal of Environmental Studies

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“…In a major survey of papers published during 1974-2021, Mutumba et al (2021) found that 10.5% of the results supported the neutrality hypothesis, 43.8% the growth hypothesis, 27.2% the conservation hypothesis, and 18.5% the feedback hypothesis. Given the growing number of papers published on the subject, it is unsurprising that no consensus has been reached.…”

Section: Energy Co 𝟐 Emissions and Economic Growthmentioning

confidence: 98%

“…Given the growing number of papers published on the subject, it is unsurprising that no consensus has been reached. Mixed results have been attributed to different time periods, model specifications, empirical methods, and variables chosen (AlKhars et al, 2020; Jakovac, 2018; Mutumba et al, 2021;. The first hypothesis states that energy consumption will not affect economic activity or vice versa.…”

Section: Energy Co 𝟐 Emissions and Economic Growthmentioning

confidence: 99%

Energy consumption, financial development, CO2 emissions, and economic growth in 23 developing economies

Zermeño

2022

REMEF

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This study examines the nexus among energy consumption, CO2 emissions, financial development, and economic growth in 23 developing countries. The econometric approach is based on panel pairwise Granger causality and GMM estimations of panel VAR-Granger causality with fixed effects. Our study is probably one of the first to estimate joint relationships between financial (bank credit to private sector and liquid liabilities), energy (primary energy consumption and electricity generation), environmental (CO2 emissions), and economic variables (GDP and inflation rates) in less developed economies over the 2001-2019 period. The results confirm bidirectional causality between financial development and CO2, financial development and GDP, and primary energy consumption and CO2; and unidirectional from financial development to energy consumption and from electricity generation to CO2. We did not find evidence of a relationship between GDP and energy or CO2 emissions. Due to data availability, we could not complement our analysis with further testing, which would enrich the results. The research may guide policymakers in designing policies to reduce contamination, improve energy use, and promote financial development.

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“…There are many more publications on the interdependence between energy consumption and economic growth. A very comprehensive analysis of the literature in this field is presented in the paper [25].…”

Section: Literature Reviewmentioning

confidence: 99%

Forecasting Household Energy Consumption in European Union Countries: An Econometric Modelling Approach

Chudy-Laskowska

Pisula

2023

Energies

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The article raises issues regarding the consumption of energy from both fossil and renewable sources in households. The research was carried out on the basis of data obtained from the Eurostat database, which covered the period from 1995 to 2021 and concerned the European Union countries. Increasing energy consumption and, thus, increasing household expenses affect their standard of living. The purpose of the analysis was to construct two econometric models for electricity consumption. The first model referred to the consumption of energy from fossil sources and the second from renewable sources. A forecast of energy consumption in households was also constructed on the basis of estimated models. Econometric modelling methods (multiple regression) and time-series forecasting methods (linear regression method, exponential smoothing models) were applied for the study. Research shows that the main factor that models energy consumption in households, both from fossil and renewable sources, is the final consumption expenditure of households (Euro per capita). The set of indicators for the models varies depending on the type of energy source. The forecast shows that the share of energy consumption obtained from fossil sources will decrease systematically, while the share of energy consumption from renewable sources will continue to increase systematically.

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A survey of literature on energy consumption and economic growth

Cited by 43 publications

References 512 publications

The Interconnection of Economic Growth, Carbon Dioxide Emission, Foreign Direct Investment and Energy Consumption: Evidence from Sub-Saharan Africa

The Interconnection of Economic Growth, Carbon Dioxide Emission, Foreign Direct Investment and Energy Consumption: Evidence from Sub-Saharan Africa

Energy consumption, financial development, CO2 emissions, and economic growth in 23 developing economies

Forecasting Household Energy Consumption in European Union Countries: An Econometric Modelling Approach

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