Econometric perspective of the energy consumption and economic growth relation in European Union

Pîrlogea, Corina; Cicea, Claudiu

doi:10.1016/j.rser.2012.06.010

Cited by 146 publications

(78 citation statements)

References 32 publications

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“…[34] scrutinize the connection between natural gas and economic development in G-7 countries (Canada, France, Germany, Italy, Japan, United Kingdom-UK, and the USA) using a bootstrap -corrected causality test; they concluded that for the UK there is only a unidirectional causality running from economic growth to natural gas consumption while for Italy is contrary; for Germany, France, and the USA there is a bidirectional causality; for Japan and Canada, there is no any causality. [48] investigate the same correlation in Spain, Romania, and EU for the period 1990-2010, applying GC test; and they report a long-run relationship between GDP per capita and energy consumption with source natural gas for Spain and Romania; and for EU was only discovered a long-run relationship proven among GDP per capita and energy consumption with source renewable and total petroleum products. [5] examining natural gas consumption and economic growth nexus for a panel of 67 countries for the period 1992-2005, employing Pedroni panel cointegration and GC causality test, report bidirectional causality between natural gas consumption and economic growth in both short and longrun.…”

Section: Specific Country Data Analysis Vs Panel Data Analysismentioning

confidence: 95%

“…This study follows a two-step approach: first times series data is inspected if it has unit root using Augmented Dickey-Fuller (ADF) test, which is the most extensively used test among researchers because of its simplicity [54]. ADF test null hypothesis supports the existence of unit root, and the probability of obtaining nonstationary series is high, therefore we shall have to test again but on the first difference which would change the series integrated of order 1 I(1); and if the series remain nonstationary we will have to apply second differences, which would transform the original series in I(2), or integrated two times [48]. Second, Error Correction Model (ECM) is employed to check dynamic relationship among variables because data is both integrated and stationary and this model can better estimate short and long-run effects and also it is easy for interpretation [51].…”

Section: Methodsmentioning

confidence: 99%

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Dynamics of the Natural Gas Industry and Economic Growth in Mozambique

Bay¹

2017

SJEE

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This paper investigates dynamics of the natural gas industry and economic growth in Mozambique for the period of 1999 to 2015. Times series data is collected from Index Mundi, produced by World Bank and it includes export and labor. This study employs Error Correction model. Results report that the natural gas industry, export, and labor are positively cointegrated with economic growth, and they have a long-run relationship. In a short-run term, results revealed that the natural gas industry has a positive effect and it is significant to influence economic growth in Mozambique. However, on the other hand, export and labor contribution to economic growth is small. The study recommends that government should implement a growth policy for the natural gas industry because it would stimulate economic growth. In Mozambique, the natural gas industry will experience foremost dynamics with the production of natural gas in Rovuma Basin scheduled to start by 2022, and it will play a great role to promote the economic growth in the upcoming future.

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Section: Specific Country Data Analysis Vs Panel Data Analysismentioning

confidence: 95%

Section: Methodsmentioning

confidence: 99%

Dynamics of the Natural Gas Industry and Economic Growth in Mozambique

Bay¹

2017

SJEE

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“…Analysis of the current state and forecasting the future state of the energy sector are some of the key components of forming a long-term policy of sustainable economic development (Pirlogea and Cicea 2012). The nexus of energy consumption, economic growth, and environmental protection is an important factor in this respect (Omri 2013).…”

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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“…In the context of different economies, researchers around the world have tried to find the truth about the factors which impact on economic growth. Over the years, key concepts have been analyzed with the aim to explain their effects on variability of growth (Pirlogea and Cicea, 2012). From the theoretical point of view, unidirectional, bidirectional and neutrality approaches have prevailed in the latest studies (Adewuyi and Adeniyi, 2015;Ahmed and Azam, 2016;Balitskiy et al, 2016;Ee, 2016;Mutascu, 2016;Saidi and Hammami, 2015;Shahzad et al, 2017;Trost and Bojnec, 2015) examining the relationships among energy consumption, export and economic growth.…”

Section: Introductionmentioning

confidence: 99%

“…It should be noted that these three types of approaches within the scientific literature may be due to the selections of the countries, data time spans, empirical econometric model settings or other explanatory variable selections (Chen et al, 2016). Moreover, it is worth noting that energy consumption has been a relatively new factor seen as a driving force of economic growth that has not been included in the growth models (Pirlogea and Cicea, 2012). Trade openness is an important factor of economic growth and the increase in export promotes the economic activities and the energy demand (Sadorsky, 2012).…”

Section: Introductionmentioning

confidence: 99%

Export, Energy Consumption and Economic Growth Inter-Linkages: The Case of Lithuania

Dudzevičiūtė

Šimelytė

2017

Scientific Annals of Economics and Business

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This paper has aimed to examine the causal relationships between energy consumption -economic growth, export -energy consumption and export -economic growth in Lithuania during the period of 1998 -2015. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Granger causality test has been used to a time series data set to determine the causality between variables. The results of Granger causality test have shown unidirectional causality running from GDP to energy consumption, from export to GDP and from export to energy consumption. It is obvious that GDP and export play significant roles in accelerating energy consumption in Lithuania. The determination of the causal links between energy consumption -economic growth, exporteconomic growth and energy consumption -export has provided policy makers with the main insights to formulate future policy directions for sustainable economic development in Lithuania.

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Econometric perspective of the energy consumption and economic growth relation in European Union

Cited by 146 publications

References 32 publications

Dynamics of the Natural Gas Industry and Economic Growth in Mozambique

Dynamics of the Natural Gas Industry and Economic Growth in Mozambique

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

Export, Energy Consumption and Economic Growth Inter-Linkages: The Case of Lithuania

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