Economic growth and energy consumption revisited -- Evidence from linear and nonlinear Granger causality
AbstractThe relationship between energy consumption and economic growth is considered as an imperative issue in energy economics. Previous studies have ignored the nonlinear behavior which could be caused by structural breaks. In this study, both linear and nonlinear Granger causality tests are applied to examine the causal relationship between energy consumption and economic growth for a sample of Asian newly industrialized countries as well as the U.S. This study finds evidence supporting a neutrality hypothesis for the United States, Thailand, and South Korea. However, empirical evidence on Philippines and Singapore reveals a unidirectional causality running from economic growth to energy consumption while energy consumption may have affected economic growth for Taiwan, Hong Kong, Malaysia and Indonesia. Policy implications are also discussed.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Economics.
Volume (Year): 30 (2008)
Issue (Month): 6 (November)
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Web page: http://www.elsevier.com/locate/eneco
Nonlinear causality test Neutrality hypothesis Energy consumption Economic growth;
Other versions of this item:
- Chiou-Wei, Song Zan & Chen, Ching-Fu & Zhu, Zhen, 2009. "Economic growth and energy consumption revisited -- Evidence from linear and nonlinear Granger causality," Energy Economics, Elsevier, vol. 31(2), pages 235-239, March.
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