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Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia

Yıl 2014, Cilt: 4 Sayı: 4, 726 - 734, 01.12.2014

Öz

The purpose of this paper is to empirically investigate the short and long run causality between economic growth and energy consumption in Saudi Arabia during the period of 1971-2012 using the Gregory and Hansen (1996) cointegration procedure and error-correction models. The results of the unit root tests with structural breaks indicate that total energy and gas consumption are stationary in levels. Thus, we dropped these variables from the cointegration and causality analysis. The stable long run relationship between real GDP and oil consumption is detected by both stability and cointegration tests. The estimated breakpoints correspond with the period of 1974-1985 during the oil boom. The causal relationship is found between real GDP and oil consumption in both the short and long run. We found short run unidirectional Granger causality running from real GDP to oil consumption. However, the long run unidirectional Granger causality is detected from oil consumption to real GDP. Therefore, the energy conservation policy in the long run should be designed with caution, since energy is considered an engine of GDP growth.

Yıl 2014, Cilt: 4 Sayı: 4, 726 - 734, 01.12.2014

Öz

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Ayrıntılar

Diğer ID JA69RP23YE
Bölüm Araştırma Makalesi
Yazarlar

Waheed A. Banafea Bu kişi benim

Yayımlanma Tarihi 1 Aralık 2014
Yayımlandığı Sayı Yıl 2014 Cilt: 4 Sayı: 4

Kaynak Göster

APA Banafea, W. A. (2014). Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia. International Journal of Energy Economics and Policy, 4(4), 726-734.
AMA Banafea WA. Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia. IJEEP. Aralık 2014;4(4):726-734.
Chicago Banafea, Waheed A. “Structural Breaks and Causality Relationship Between Economic Growth and Energy Consumption in Saudi Arabia”. International Journal of Energy Economics and Policy 4, sy. 4 (Aralık 2014): 726-34.
EndNote Banafea WA (01 Aralık 2014) Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia. International Journal of Energy Economics and Policy 4 4 726–734.
IEEE W. A. Banafea, “Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia”, IJEEP, c. 4, sy. 4, ss. 726–734, 2014.
ISNAD Banafea, Waheed A. “Structural Breaks and Causality Relationship Between Economic Growth and Energy Consumption in Saudi Arabia”. International Journal of Energy Economics and Policy 4/4 (Aralık 2014), 726-734.
JAMA Banafea WA. Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia. IJEEP. 2014;4:726–734.
MLA Banafea, Waheed A. “Structural Breaks and Causality Relationship Between Economic Growth and Energy Consumption in Saudi Arabia”. International Journal of Energy Economics and Policy, c. 4, sy. 4, 2014, ss. 726-34.
Vancouver Banafea WA. Structural Breaks and Causality Relationship between Economic Growth and Energy Consumption in Saudi Arabia. IJEEP. 2014;4(4):726-34.