Energy consumption and GDP in developing countries: A cointegrated panel analysis
Energy consumption and GDP in developing countries: A cointegrated panel analysis
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DOI：
10.1016/j.eneco.2005.03.003
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发表时间：
2005-05-01
期刊：
影响因子：
12.8
通讯作者：
Lee, CC
中科院分区：
文献类型：
--
作者：
Lee, CC
本文利用1975年至2001年的数据，重新研究了18个发展中国家能源消费与GDP之间的联动性和因果关系。最近开发的面板单位根，异质面板协整，面板为基础的误差修正模型的测试。实证结果提供了明确的长期协整关系的支持后，允许异质国家的影响。长期的关系估计使用一个完整的修改OLS。证据表明，能源消费对GDP的长期和短期因果关系，但反之亦然。这一结果表明，能源节约可能会损害发展中国家的经济增长，无论是暂时的还是永久的。(c)2005 Elsevier B.V保留所有权利。
In this paper we re-investigate the co-movement and the causality relationship between energy consumption and GDP in 18 developing countries, using data for the period 1975 to 2001. Recently developed tests for the panel unit root, heterogeneous panel cointegration, and panel-based error correction models are employed. The empirical results provide clear support of a long-run cointegration relationship after allowing for the heterogeneous country effect. The long-ran relationship is estimated using a full-modified OLS. The evidence shows that long-run and short-run causalities run from energy consumption to GDP, but not vice versa. This result indicates that energy conservation may harm economic growth in developing countries regardless of being transitory or permanent. (c) 2005 Elsevier B.V All rights reserved.