Research Article
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Year 2020, Volume: 1 Issue: 1, 1 - 10, 01.06.2020

Abstract

References

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  • [9] Fotis, P., Karkalakos, S., Asteriou, D. (2017). The relationship between energy demand and real GDP growth rate: the role of price asymmetries and spatial externalities within 34 countries across the globe. Energy Economics, 66, 69-84.
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  • [14] EC, Electricity Consumption. https://data.worldbank.org/indicator/EG.USE.ELEC.KH.PC (accessed April 20, 2018)
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  • [18] Im, K.S., Pesaran, M.,H., Shin, Y. (2003).Testing for unit roots in heterogeneous panels. Journal of Econometrics , 115(1), 53–74.
  • [19] Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148-161.
  • [20] Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and statistics, 61(S1), 653-670.

A Comparison of the Relationship Between Electricity Consumption and Gross Domestic Product According to Development Status of Countries

Year 2020, Volume: 1 Issue: 1, 1 - 10, 01.06.2020

Abstract

Electricity is a necessary requirement for the economic, social and cultural progress for all developed, developing and under-developed countries. This paper examines the relationships between electricity consumption and gross domestic product in 30 countries, using data for the period 1995–2014. These countries are classified according to their developmental status. Widely used tests for the panel unit root, heterogeneous panel cointegration, and panel-based error correction models were employed. The empirical results indicate that electricity consumption and economic growth appear to be cointegrated. The long-run and short-run relationship are estimated using suitable estimations. The results show that the developmental levels of countries differ in their impact on the relationship between electricity consumption and GDP.

References

  • [1] Kaygusuz, K. (2003). Energy policy and climate change in Turkey. Energy Conversion and Management, 44(10), 1671–1688. 1. [2] Suganthi, L., Samuel A., A. (2012). Energy models for demand forecasting—a review. Renewable Sustain Energy Rev,16(2), 1223–1240.
  • [3] U.S. Energy Information Administration EIA, https://www.eia.gov/outlooks/ieo/pdf/0484(2017).pdf (accessed December 11, 2017).
  • [4] Bah, M. and Azam, M. (2017). Investigating the relationship between electricity consumption and economic growth: evidence from South Africa. Renewable and Sustainable Energy Reviews, 80, 531-537.
  • [5] Shahbaz, M., Lean H., H. (2012). The dynamics of electricity consumption and economic growth: A revisit study of their causality in Pakistan. Energy, 39(1), 146-153.
  • [6] Odhiambo, N., M. (2009). Electricity consumption and economic growth in South Africa: a trivariate causality test. Energy Economics, 31(5), 635-640.
  • [7] Yuan, J. H., Kang, J., G., Zhao, C., H., Hu, Z., G. (2008). Energy consumption and economic growth: evidence from China at both aggregated and disaggregated levels. Energy Economics, 30(6), 3077-3094.
  • [8] Aqeel, A. and Butt, M., S. (2001). The relationship between energy consumption and economic growth in Pakistan. Asia-Pacific Development Journal, 8(2), 101-110.
  • [9] Fotis, P., Karkalakos, S., Asteriou, D. (2017). The relationship between energy demand and real GDP growth rate: the role of price asymmetries and spatial externalities within 34 countries across the globe. Energy Economics, 66, 69-84.
  • [10] Ozturk, I., Aslan, A., Kalyoncu, H. (2010). Energy consumption and economic growth relationship: Evidence from panel data for low and middle income countries. Energy Policy, 38(8), 4422-4428. [11] Wolde-Rufael, Y. (2006). Electricity consumption and economic growth: a time series experience for 17 African countries. Energy Policy, 34(10), 1106-1114.
  • [12] Soytas, U., Sari, R. (2003). Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy economics, 25(1), 33-37.
  • [13] Bozoklu, S. and Yılancı, V. (2013). Energy consumption and economic growth for selected OECD countries: further evidence from the granger causality test in the frequency domain. Energy Policy, 63, 877-881.
  • [14] EC, Electricity Consumption. https://data.worldbank.org/indicator/EG.USE.ELEC.KH.PC (accessed April 20, 2018)
  • [15] GDP, Gross Domestic Pruduct. https://data.worldbank.org/indicator/NY.GDP.PCAP.CD (accessed April 20, 2018).
  • [16] WDI,World Development Indicators. https://data.worldbank.org/products/wdi (accessed April 20, 2018).
  • [17] Levin, A., Lin, C.,F., Chu, C., S., J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1),1–24.
  • [18] Im, K.S., Pesaran, M.,H., Shin, Y. (2003).Testing for unit roots in heterogeneous panels. Journal of Econometrics , 115(1), 53–74.
  • [19] Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148-161.
  • [20] Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and statistics, 61(S1), 653-670.
There are 18 citations in total.

Details

Primary Language English
Journal Section Research Articles
Authors

Özlem Akay 0000-0002-9539-7252

Esma Kahraman

Ahmet Kılıç 0000-0002-2082-749X

Publication Date June 1, 2020
Submission Date February 3, 2020
Acceptance Date March 18, 2020
Published in Issue Year 2020 Volume: 1 Issue: 1

Cite

APA Akay, Ö., Kahraman, E., & Kılıç, A. (2020). A Comparison of the Relationship Between Electricity Consumption and Gross Domestic Product According to Development Status of Countries. NATURENGS, 1(1), 1-10.