Energy consumption and economic growth: causality relationship for Nigeria

Sa'ad, Suleiman

doi:10.1111/j.1753-0237.2010.00173.x

Cited by 16 publications

(6 citation statements)

References 17 publications

(28 reference statements)

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“…On the energy and growth framework, a significant relationship from economic growth to energy consumption was revealed in a pioneer study by J. Kraft and A. Kraft [32] for the USA, then by Lise and van Montfort [33] for Turkey, by Huang and Hwang [34] for 82 countries, by Mallick [35] for India, by Sa'ad [36] for Nigeria, by Binh [37] for Vietnam, by Narayan et al [38] for 93 countries, by Qazi et al [39] for Pakistan, by Soile [40] for Indonesia, by Kasman and Duman [41] for EU member and candidate countries, inter alia.…”

Section: Theoretical and Empirical Literature Reviewmentioning

confidence: 99%

The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy

et al. 2018

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This paper examines the relationship between energy consumption, financial development, and economic growth in an oil-rich economy-Azerbaijan-employing cointegration techniques to the data ranging from 1992 to 2015. The results confirm the existence of a long-run relationship among the variables. Also, we find that there is a positive and statistically significant impact of financial development and economic growth on energy consumption in the long-run. The positive and statistically significant coefficient of financial development and decreasing volatility in the proxy for financial development over time can be considered as improvements in the financial system. Estimation results show that a 1% increase in financial development, proxied by the private credit indicator, and economic development increases energy consumption by 0.19% and 0.12%, respectively. The positive and significant impact of financial development on energy consumption on the backdrop of relatively cheaper energy prices due to rich oil and gas resources, should be considered by policymakers in their energy use, financial development, and economic growth related decisions.

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Section: Theoretical and Empirical Literature Reviewmentioning

confidence: 99%

The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy

et al. 2018

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“…Saatcioglu and Korap () found a stationary long‐run relationship through the trace‐test statistics between total energy consumption, real income and general price level for Turkey. Sa'ad () found a cointegrated relationship between per capita GDP and per capita energy consumption and a causal relationship from per capita GDP to energy consumption in both short and long run for Nigerian economy.…”

Section: Literaturementioning

confidence: 99%

“…Sa'ad () emphasises the importance of the long‐run equilibrium and causality relationship between energy consumption and other economic variables for policy implications. There have been important increases in use of oil, gas and coal consumption in the world since 1965.…”

Section: Introductionmentioning

confidence: 99%

A VARX modelling of energy intensity interactions between China, the United States, Japan and EU

Akal

2015

OPEC Energy Review

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This study attempts to predict energy intensity interactions between China, the United States, Japan and EU by developing a restricted VARX model by proposing energy intensities of the countries interact with each others, and gross domestic product (GDP) levels per capita and Organization of Petroleum Exporting Countries (OPEC) oil‐based current energy prices affect energy intensities of the countries based upon the direction of group causalities. There exist significant causal interactions between energy intensities of the countries up to lag five either increasing efficiency or not. China's current GDP level affects its own energy use and EU's energy intensity positively, on the other way; EU's current GDP level affects only China's energy intensity while Japan's current GDP level only affects its own energy intensity negatively, ceteris paribus. It is found that OPEC oil‐based current energy prices only affect the United States' energy intensity but not others' energy intensity, ceteris paribus, for the period of 1971–2009. Evaluating cumulative effects of energy intensities of all countries, it is found that each country has experienced higher energy intensity and consumed energy less efficiently even there have been existing new technology‐embodied equipments used and alternative energy sources developed in energy consumption for the years.

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“…Energy is considered as a factor of production in the same way as capital and labor. [7][8][9][10][11][12] Production is therefore formalized as an increasing function of energy consumption. This hypothesis implies a cause-and-effect relationship from energy consumption to economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

The effect of renewable energy consumption on economic growth in KSA: A bootstrap causality test

Berradia

Abid

sakrafi

et al. 2022

Energy & Environment

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The majority of studies analyzed show a positive and statistically significant impact of renewable energy consumption on economic growth. Nevertheless, some studies suggest a limited effect, while others find no statistically significant effect. Faced with this problem, we conducted a study aimed at analyzing the impact of renewable energy consumption on economic growth in the Kingdom of Saudi Arabia for the period 1990–2020. To determine the integration properties of the variables, we utilized the sharp and smooth structural breaks unit root test developed by Shahbaz, Omay and Roubaud (SOR). We also used the bootstrap approach of testing ARDL limits to examine the cointegration between variables. Using the VECM model, we studied the causal relationship between economic growth and its determinants. The results show, in the short and long run, the existence of a bidirectional causality between renewable energy consumption and economic growth (Feedback Hypothesis). Thus, there is a bidirectional relationship between GDP and capital and also between GDP and labor, in the long run. Therefore, an important policy implication resulting from this analysis is that renewable energy can be considered as an important factor for sustainable economic development in Saudi Arabia. The findings for Saudi Arabia may also be relevant for oil exporting countries to achieve efficiency and promote the renewable energy sector beyond oil.

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Energy consumption and economic growth: causality relationship for Nigeria

Cited by 16 publications

References 17 publications

The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy

The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy

A VARX modelling of energy intensity interactions between China, the United States, Japan and EU

The effect of renewable energy consumption on economic growth in KSA: A bootstrap causality test

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