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Electricity Consumption and Economic Development in Nigeria

Year 2016, Volume: 6 Issue: 1, 134 - 143, 01.03.2016

Abstract

The study examines the relationship between electricity consumption and economic development using an extended neoclassical model for the period 1970-2013. The study incorporates the uniqueness of the Nigerian economy by controlling for the role of institutions, technology, emissions, and economic structure in the electricity consumption-development argument. The study adopted a cointegration analysis based on the Johansen and Juselius (1981) Maximum Likelihood approach and a vector error correction model. In order to ensure robustness, the study adopted the Wald Block Endogeneity causality test to ascertain the direction of causal relationship between electricity consumption and economic development. The study found an existence of long-run cointegration equation with electricity consumption inversely related to economic development. Likewise, the vector error correction model failed to reject the null hypothesis of non-convergence in the long-run. Finally, the study found evidence supporting unidirectional causal relationship running from economic development to electricity consumption.

Year 2016, Volume: 6 Issue: 1, 134 - 143, 01.03.2016

Abstract

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Details

Other ID JA58EA74RM
Journal Section Research Article
Authors

Adeyemi A. Ogundipe This is me

Opeyemi Akinyemi This is me

Oluwatomisin M. Ogundipe This is me

Publication Date March 1, 2016
Published in Issue Year 2016 Volume: 6 Issue: 1

Cite

APA Ogundipe, A. A., Akinyemi, O., & Ogundipe, O. M. (2016). Electricity Consumption and Economic Development in Nigeria. International Journal of Energy Economics and Policy, 6(1), 134-143.
AMA Ogundipe AA, Akinyemi O, Ogundipe OM. Electricity Consumption and Economic Development in Nigeria. IJEEP. March 2016;6(1):134-143.
Chicago Ogundipe, Adeyemi A., Opeyemi Akinyemi, and Oluwatomisin M. Ogundipe. “Electricity Consumption and Economic Development in Nigeria”. International Journal of Energy Economics and Policy 6, no. 1 (March 2016): 134-43.
EndNote Ogundipe AA, Akinyemi O, Ogundipe OM (March 1, 2016) Electricity Consumption and Economic Development in Nigeria. International Journal of Energy Economics and Policy 6 1 134–143.
IEEE A. A. Ogundipe, O. Akinyemi, and O. M. Ogundipe, “Electricity Consumption and Economic Development in Nigeria”, IJEEP, vol. 6, no. 1, pp. 134–143, 2016.
ISNAD Ogundipe, Adeyemi A. et al. “Electricity Consumption and Economic Development in Nigeria”. International Journal of Energy Economics and Policy 6/1 (March 2016), 134-143.
JAMA Ogundipe AA, Akinyemi O, Ogundipe OM. Electricity Consumption and Economic Development in Nigeria. IJEEP. 2016;6:134–143.
MLA Ogundipe, Adeyemi A. et al. “Electricity Consumption and Economic Development in Nigeria”. International Journal of Energy Economics and Policy, vol. 6, no. 1, 2016, pp. 134-43.
Vancouver Ogundipe AA, Akinyemi O, Ogundipe OM. Electricity Consumption and Economic Development in Nigeria. IJEEP. 2016;6(1):134-43.