A re-examination of causal relation between economic growth and energy consumption: Evidence from 91 countries


Kablamaci B.

ECONOMICS BULLETIN, cilt.37, ss.790-806, 2017 (ESCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 37
  • Basım Tarihi: 2017
  • Dergi Adı: ECONOMICS BULLETIN
  • Sayfa Sayıları: ss.790-806

Özet

This paper empirically examines the causal relationship between energy consumption and economic growth, by controlling with CO2 emission and economic globalization in multivariate models, in a sample of the 91 less developed, developing and developed countries individually, in the period of 1970-2013. I apply the Toda-Yamamoto augmented Granger non-causality testing procedure. I observe a significant unidirectional causality running from energy consumption to economic growth in twenty-one countries. In thirty-one countries, conservation hypothesis is valid. Empirical evidence also shows that there is a feedback hypothesis in sixteen countries and no causal relation in only twenty-three countries.