Energy consumption, output and trade in South America
AbstractThis study uses panel cointegration regression techniques to examine the relationship between energy consumption, output and trade in a sample of 7 South American countries covering the period 1980 to 2007. Panel cointegration tests show a long-run relationship between 1) output, capital, labor, energy, and exports and 2) output, capital, labor, energy, and imports. Short-run dynamics show a bi-directional feedback relationship between energy consumption and exports, output and exports and output and imports. There is evidence of a one way short-run relationship from energy consumption to imports. In the long-run there is evidence of a causal relationship between trade (exports or imports) and energy consumption. These results have implications for energy policy and environmental policy. One important implication of these results is that environmental policies designed to reduce energy use will reduce trade. This puts environmental policy aimed at reducing energy consumption at odds with trade policy.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Economics.
Volume (Year): 34 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/eneco
Energy consumption; South America; Panel cointegration; Export led growth;
Find related papers by JEL classification:
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
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- Muhammad, Shahbaz & Saleheen, Khan & Mohammad, Iqbal Tahir, 2012. "The Dynamic Link between Energy Consumption, Economic Growth, Financial Development and Trade in China: Fresh Evidence from Multivariate Framework Analysis," MPRA Paper 42974, University Library of Munich, Germany, revised 26 Nov 2012.
- Carlos Alberto Barreto Nieto & Jacobo Campo Robledo, 2012.
"Relación a largo plazo entre consumo de energía y PIB en América Latina: Una evaluación empírica con datos panel,"
REVISTA ECOS DE ECONOMÍA,
- Carlos Alberto Barreto Nieto & Jacobo Campo Robledo, 2012. "Relación de largo plazo entre Consumo de Energía y PIB en América Latina: Una evaluación empírica con datos panel," DOCUMENTOS DE TRABAJO 010251, UNIVERSIDAD CATOLICA DE COLOMBIA.
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