Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries

Mahadevan, Renuka; Asafu‐Adjaye, John

doi:10.1016/j.enpol.2006.08.019

Cited by 416 publications

(170 citation statements)

References 30 publications

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“…The former was based on the within dimension approach, which included the following statistics: Panel-v, Panel-rho, Panel-ADF and Panel-PP. The latter was based on the between dimension approach, which included three statistics: Group-rho, Group-PP and Group-ADF (Pedroni, 2004;Mahadevan and Asafu-Adjaye, 2007). It is generally accepted that the Panel-ADF and the Group-ADF statistics had better small sample properties than the other statistics, which made them more reliable.…”

Section: Econometric Analysismentioning

confidence: 99%

Urbanization, economic growth, and carbon dioxide emissions in China: A panel cointegration and causality analysis

2015

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Abstract:Elucidating the complex mechanism between urbanization, economic growth, carbon dioxide emissions is fundamental necessary to inform effective strategies on energy saving and emission reduction in China. Based on a balanced panel data of 31 provinces in China over the period 1997-2010, this study empirically examines the relationships among urbanization, economic growth and carbon dioxide (CO 2 ) emissions at the national and regional levels using panel cointegration and vector error correction model and Granger causality tests. Results showed that urbanization, economic growth and CO 2 emissions are integrated of order one. Urbanization contributes to economic growth, both of which increase CO 2 emissions in China and its eastern, central and western regions. The impact of urbanization on CO 2 emissions in the western region was larger than that in the eastern and central regions. But economic growth had a larger impact on CO 2 emissions in the eastern region than that in the central and western regions. Panel causality analysis revealed a bidirectional long-run causal relationship among urbanization, economic growth and CO 2 emissions, indicating that in the long run, urbanization does have a causal effect on economic growth in China, both of which have causal effect on CO 2 emissions. At the regional level, we also found a bidirectional long-run causality between land urbanization and economic growth in eastern and central China. These results demonstrated that it might be difficult for China to pursue carbon emissions reduction policy and to control urban expansion without impeding economic growth in the long run. In the short-run, we observed a unidirectional causation running from land urbanization to CO 2 emissions and from economic growth to CO 2 emissions in the eastern and central regions. Further investigations revealed an inverted N-shaped relationship between CO 2 emissions and economic growth in China, not supporting the environmental Kuznets curve (EKC) hypothesis. Our empirical findings have an important reference value for policy-makers in formulating effective energy saving and emission reduction strategies for China.

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Section: Econometric Analysismentioning

confidence: 99%

Urbanization, economic growth, and carbon dioxide emissions in China: A panel cointegration and causality analysis

2015

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“…If one concentrates on energy demand, trivariate models with energy prices as an additional variable should be used (see Oh and Lee, 2004b). The studies by Masih and Masih (1998), Asafu-Adjaye (2000), Fatai et al (2004) as well as Mahadevan and Asafu-Adjaye (2007) take the consumer price index (CPI) as a proxy of the energy price. However, as the CPI is known not to capture the energy price very well, we employ the real energy price index, such as Lee and Lee (2010) and Costantini and Martini (2010).…”

Section: Literature Reviewmentioning

confidence: 99%

“…This literature estimates panel-based error-correction models to perform Granger causality tests (see, e.g. Lee, 2005;Al-Iriani, 2006;Mahadevan and Asafu-Adjaye, 2007;Lee andChang, 2007, 2008;Apergis and Payne, 2009a,b;Lee and Lee, 2010;Costantini and Martini, 2010). Some selected studies and their empirical setups are summarized in Table 1.…”

Section: Literature Reviewmentioning

confidence: 99%

Energy consumption and economic growth: New insights into the cointegration relationship

2011

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The working papers published in the Series constitute work in progress circulated to stimulate discussion and critical comments. Views expressed represent exclusively the authors' own opinions and do not necessarily refl ect those of the editors. Terms of use: Documents in Ruhr Economic Papers #190

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“…Energy conservation policies cannot sensibly be constituted without the consideration of economic or environmental factors such as energy supply infrastructure, energy efficiency considerations or institutional constraints (Mahadevan and Asafu-Adjaye, 2007).…”

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confidence: 99%

Energy Consumption and Economic Growth Revisited: Structural Breaks and Cross-Section Dependence

Dobnik

2011

SSRN Journal

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Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries

Cited by 416 publications

References 30 publications

Urbanization, economic growth, and carbon dioxide emissions in China: A panel cointegration and causality analysis

Urbanization, economic growth, and carbon dioxide emissions in China: A panel cointegration and causality analysis

Energy consumption and economic growth: New insights into the cointegration relationship

Energy Consumption and Economic Growth Revisited: Structural Breaks and Cross-Section Dependence

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