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A dynamic panel study of energy consumption–economic growth nexus: evidence from the former Soviet Union countries

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  • Dincer Dedeoglu
  • Ali Piskin

Abstract

This paper examines the relationship between energy consumption and real gross domestic product (GDP) per capita for the 15 former Soviet Union countries during the period 1992–2009. These countries have been rarely investigated with regard to the related nexus in the literature despite the important role of these countries in energy markets as producers and consumers. Panel unit root tests, panel cointegration tests and panel vector error correction model in a dynamic panel framework are employed to infer the causal relationship. The empirical results show that there is a unidirectional causal relationship running from energy consumption to the real GDP per capita in the long run but not in the short-run for the former Soviet Union countries and Commonwealth Independent States countries regardless Russia is included or excluded. However, we discover a bidirectional relationship for oil importer and natural gas importer countries. Therefore, the findings of this study support the growth hypothesis for the former subsegments and feedback hypothesis for the latter subsegments.

Suggested Citation

  • Dincer Dedeoglu & Ali Piskin, 2014. "A dynamic panel study of energy consumption–economic growth nexus: evidence from the former Soviet Union countries," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 38(1), pages 75-106, March.
    • Handle: RePEc:bla:opecrv:v:38:y:2014:i:1:p:75-106
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    File URL: http://hdl.handle.net/10.1111/opec.12017
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    Cited by:

    1. Patterson C. Ekeocha & Dinci J. Penzin & Jonathan Emenike Ogbuabor, 2020. "Energy Consumption and Economic Growth in Nigeria: A Test of Alternative Specifications," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 369-379.
    2. Shahbaz, Muhammad & Zakaria, Muhammad & Shahzad, Syed Jawad Hussain & Mahalik, Mantu Kumar, 2018. "The energy consumption and economic growth nexus in top ten energy-consuming countries: Fresh evidence from using the quantile-on-quantile approach," Energy Economics, Elsevier, vol. 71(C), pages 282-301.
    3. Azam, Muhammad & Khan, Abdul Qayyum & Bakhtyar, B. & Emirullah, Chandra, 2015. "The causal relationship between energy consumption and economic growth in the ASEAN-5 countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 47(C), pages 732-745.
    4. Sedef Sen & Tugba Yilmaz, 2023. "An Econometric Analysis on the Relationship between Infrastructure and Economic Growth," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 10(2), pages 361-393, July.
    5. Hamit-Haggar, Mahamat, 2016. "Clean energy-growth nexus in sub-Saharan Africa: Evidence from cross-sectionally dependent heterogeneous panel with structural breaks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 1237-1244.
    6. Anca Mehedintu & Mihaela Sterpu & Georgeta Soava, 2018. "Estimation and Forecasts for the Share of Renewable Energy Consumption in Final Energy Consumption by 2020 in the European Union," Sustainability, MDPI, vol. 10(5), pages 1-22, May.
    7. Ahmed, Mumtaz & Azam, Muhammad, 2016. "Causal nexus between energy consumption and economic growth for high, middle and low income countries using frequency domain analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 653-678.

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