Energy consumption and economic growth: assessing the evidence from Greece

Hondroyiannis, George; Lolos, Sarantis; Papapetrou, Evangelia

doi:10.1016/s0140-9883(02)00006-3

Cited by 286 publications

(116 citation statements)

References 29 publications

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“…On the other hand, studies such as Cheng andLai (1997), Ghosh (2002), Soytas and Sari (2003), Yoo (2006), Halicioglu (2007) and Hu and Lin (2008) find evidence of the unidirectional causality running from economic growth to energy consumption. Finally, the evidence of bidirectional causality between energy consumption and economic growth has been found in, among others, Ebohon (1996), Yang (2000), Hondroyiannis et al, (2002), Yoo (2005), Zachariadis and Pashourtidou (2007), Wolde-Rufael (2006), Squalli (2007), Chen et al (2007), Akinlo (2008), Narayan and Smyth (2009), Wolde-Rufael (2009), and Shahbaz et al (2012.…”

Section: Energy Consumption and Economic Growthmentioning

confidence: 93%

Energy conservation policies, growth and trade performance: Evidence of feedback hypothesis in Pakistan

2015

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This study investigates the relationship between energy consumption and trade openness in Pakistan by using the annual time series data for the period of 1973-2011. Our main results show: i) the presence of long-run link between energy consumption and trade performance; ii) positive impact of gross domestic product, exports, and imports on energy consumption; iii) bidirectional causal relationship between exports and energy consumption, and also between imports and energy demand; and iv) bidirectional causality between gross domestic product and energy consumption points to the presence of feedback hypothesis in Pakistan. We therefore note that energy conservation policies will reduce the trade performance which in turn leads to the decline in economic growth in Pakistan. The present study may guide policymakers in formulating a conclusive energy and trade policies for sustainable growth for long span of time.

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Section: Energy Consumption and Economic Growthmentioning

confidence: 93%

Energy conservation policies, growth and trade performance: Evidence of feedback hypothesis in Pakistan

2015

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“…Other researchers who model a cointegrating relation between GDP, energy, and energy prices for individual countries produce mixed results. For example, Glasure (2002) finds very similar results to Costantini and Martini (2010) for Korea, while Masih and Masih (1997) and Hondroyiannis et al (2002) find mutual causation in the long run for Korea and Taiwan and Greece respectively. Following Stanley et al (2010), we should probably put most weight on the largest sample study -that of Costantini and Martini (2010) -concluding that these models identify a demand function relationship where in the long run GDP growth drives energy use.…”

Section: Introductionmentioning

confidence: 91%

Causality between energy and output in the long-run

Stern

Enflo

2013

Energy Economics

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Abstract:Though there is a very large literature examining whether energy use Granger causes economic output or vice versa this literature is fairly inconclusive. Almost all existing studies use relatively short time series or panels with a relatively small time dimension. Additionally, many recent papers continue to use what seem to be misspecified models. We apply Granger causality and cointegration techniques to a Swedish time series data set on energy and economic growth spanning 150 years to test whether increases in energy use and energy quality have driven economic growth. We show that these techniques are very sensitive to variable definition, choice of additional variables in the model, and sample periods. All of the following appear to make a finding that energy causes growth more likely: using multivariate models, defining variables to better reflect their theoretical definition, using larger samples, and including appropriate structural breaks. However, it is also possible that the relationship between energy and growth has changed over time and that results from recent smaller samples reflect this. Energy prices have a significant causal impact on both energy use and output.

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“…However, researchers are unable to arrive at a consensus on the flow of causality between energy consumption and economic growth. Conflicting results are present in papers on developed countries and adopt energy as proxy for energy usage (see Stern, 2000;Fatai et al 2002;Glasure, 2002;Hondroyiannis et al 2002;Ghali and El-Sakka, 2004;Oh and Lee, 2004;Ho andSiu, 2007 andPayne, 2009).…”

Section: Literature Reviewmentioning

confidence: 98%

Trivariate causality between economic growth, urbanisation and electricity consumption in Angola: Cointegration and causality analysis

2013

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This paper investigates the causal relationship between economic growth, urbanisation and electricity consumption in the case of Angola, utilizing the data over the period of . We have applied Strazicich (2003, 2004) unit root test to test the stationarity properties of the series. Gregory-Hansen structural break cointegration procedure as complement, we employed the ARDL bounds test to examine long run relationship. The VECM Granger causality test is subsequently used to examine the direction of causality between economic growth, urbanisation and electricity consumption. Our results indicate the existence of long run relationship. We further observe evidence in favour of bidirectional causality between electricity consumption and economic growth. The feedback hypothesis is also found between urbanization and economic growth. Urbanization and electricity consumption Granger cause each other. We conclude that Angola is an energy (electricity) dependent country. Consequently, the relevant authorities should boost electricity production as one of the means of achieving sustainable economic development for long span of time.

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Energy consumption and economic growth: assessing the evidence from Greece

Cited by 286 publications

References 29 publications

Energy conservation policies, growth and trade performance: Evidence of feedback hypothesis in Pakistan

Energy conservation policies, growth and trade performance: Evidence of feedback hypothesis in Pakistan

Causality between energy and output in the long-run

Trivariate causality between economic growth, urbanisation and electricity consumption in Angola: Cointegration and causality analysis

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