Multivariate granger causality between electricity consumption, exports and GDP : Evidence from a panel of Middle Eastern countries
Data(s) |
01/01/2009
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Resumo |
This paper examines the causal relationship between electricity consumption, exports and gross domestic product (GDP) for a panel of Middle Eastern countries. We find that for the panel as a whole there are statistically significant feedback effects between these variables. A 1 per cent increase in electricity consumption increases GDP by 0.04 per cent, a 1 per cent increase in exports increases GDP by 0.17 per cent and a 1 per cent increase in GDP generates a 0.95 per cent increase in electricity consumption. The policy implications are that for the panel as a whole these countries should invest in electricity infrastructure and step up electricity conservation policies to avoid a reduction in electricity consumption adversely affecting economic growth. Further policy implications are that for the panel as a whole promoting exports, particularly non-oil exports, is a means to promote economic growth and that expansion of exports can be realized without having adverse effects on energy conservation policies.<br /> |
Identificador | |
Idioma(s) |
eng |
Publicador |
Elsevier Ltd. |
Relação |
http://dro.deakin.edu.au/eserv/DU:30022724/narayan-multivariategranger-2009.pdf http://dro.deakin.edu.au/eserv/DU:30022724/narayan-multivariategranger-evid-2009.pdf http://dx.doi.org/10.1016/j.enpol.2008.08.020 |
Direitos |
2008, Elsevier Ltd. |
Palavras-Chave | #electricity #Middle East #causality |
Tipo |
Journal Article |