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Causality Relationship between GDP and Energy Consumption in Georgia, Azerbaijan and Armenia

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Author Info

  • Hüseyin Kalyoncu

    (Melikþah University, Kayseri, Turkey)

  • Faruk Gürsoy

    (International Black Sea University, Tbilisi, Georgia)

  • Hasan Göcen

    (Melikþah University, Kayseri, Turkey)

Abstract

This research aims to investigate the relationship between energy consumption and economic growth in Georgia, Azerbaijan and Armenia during the period of 1995–2009. The Engle- Granger cointegration and Granger causality tests are used in order to analyse the causal relationship between energy consumption and economic growth. It is crucial to see the directions of causality between two variables for the policy makers. For Georgia and Azerbaijan it is found that these two variables are not cointegrated. In case of Armenia these two variables are cointegrated. Accordingly, causality analysis is conducted for Armenia. The research outcomes reveal that there is unidirectional causality from per capita GDP to per capita energy consumption for Armenia.

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Bibliographic Info

Article provided by Econjournals in its journal International Journal of Energy Economics and Policy.

Volume (Year): 3 (2013)
Issue (Month): 1 ()
Pages: 111-117

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Handle: RePEc:eco:journ2:2013-01-11

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Related research

Keywords: Economic growth; Energy consumption; Granger causality;

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References

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Cited by:
  1. Eyup DOGAN, 2014. "Energy Consumption and Economic Growth: Evidence from Low-Income Countries in Sub-Saharan Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 4(2), pages 154-162.

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