Causality Relationship between GDP and Energy Consumption in Georgia, Azerbaijan and Armenia
AbstractThis 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 InfoArticle provided by Econjournals in its journal International Journal of Energy Economics and Policy.
Volume (Year): 3 (2013)
Issue (Month): 1 ()
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Web page: http://www.econjournals.com
Economic growth; Energy consumption; Granger causality;
Find related papers by JEL classification:
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
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