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Consumo de electricidad y producto interior bruto: Relación dinámica y estabilidad/Electricity Consumption and GDP: Dynamic Relationship and Stability

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  • DEL HOYO, JUAN

    ()
    (Departamento de Análisis Económico: Economía Cuantitativa, UNIVERSIDAD AUTÓNOMA DE MADRID, ESPAÑA.)

  • LLORENTE, GUILLERMO

    ()
    (Departamento de Análisis Económico: Economía Cuantitativa, UNIVERSIDAD AUTÓNOMA DE MADRID, ESPAÑA.)

  • RIVERO, CARLOS

    ()
    (Departamento de Estadística e Investigación Operativa II, UNIVERSIDAD COMPLUTENSE DE MADRID, ESPAÑA.)

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    Abstract

    Este trabajo estudia las relaciones dinámicas entre el consumo de electricidad y el Producto Interior Bruto en España. Utilizando la función de correlación cruzada se constata que el PIB causa al consumo de electricidad, con un efecto instantáneo (elasticidad) de 0.95 y un efecto a largo plazo de 0.42. Técnicas de remuestreo y contrastes de estabilidad endógenos permiten aceptar la significación de la relación estimada y no rechazan la hipótesis de estabilidad en el periodo considerado. This paper studies the dynamic relationships between energy consumption and GDP in Spain. The cross correlation function shows that the GDP causes the electricity consumption. The impact multiplier is 0.95 and the long run effect is 0.42. Bootstrap techniques and structural change test asses the significativeness and the stability along the considered sample of the estimated model.

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    Bibliographic Info

    Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

    Volume (Year): 29 (2011)
    Issue (Month): (Agosto)
    Pages: 473-492

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    Handle: RePEc:lrk:eeaart:29_2_4

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    Related research

    Keywords: Relación dinámica; remuestreo; cambio estructural. ; Dynamic Relationship; Bootstrap; Structural Change..;

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    References

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    1. Climent, Francisco & Pardo, Angel, 2007. "Decoupling factors on the energy-output linkage: The Spanish case," Energy Policy, Elsevier, Elsevier, vol. 35(1), pages 522-528, January.
    2. Davidson, Russell & MacKinnon, James G., 2006. "The power of bootstrap and asymptotic tests," Journal of Econometrics, Elsevier, Elsevier, vol. 133(2), pages 421-441, August.
    3. Narayan, Paresh Kumar & Prasad, Arti, 2008. "Electricity consumption-real GDP causality nexus: Evidence from a bootstrapped causality test for 30 OECD countries," Energy Policy, Elsevier, Elsevier, vol. 36(2), pages 910-918, February.
    4. Francis X. Diebold & Celia Chen, 1993. "Testing structural stability with endogenous break point: a size comparison of analytic and bootstrap procedures," Working Papers 93-11, Federal Reserve Bank of Philadelphia.
    5. Hansen, Bruce E., 2000. "Testing for structural change in conditional models," Journal of Econometrics, Elsevier, Elsevier, vol. 97(1), pages 93-115, July.
    6. James E. Payne, 2010. "Survey of the international evidence on the causal relationship between energy consumption and growth," Journal of Economic Studies, Emerald Group Publishing, Emerald Group Publishing, vol. 37(1), pages 53-95, January.
    7. Donald W.K. Andrews, 1990. "Tests for Parameter Instability and Structural Change with Unknown Change Point," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 943, Cowles Foundation for Research in Economics, Yale University.
    8. Aitor Ciarreta & Ainhoa Zarraga, 2010. "Electricity consumption and economic growth in Spain," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 17(14), pages 1417-1421.
    9. Chontanawat, Jaruwan & Hunt, Lester C. & Pierse, Richard, 2008. "Does energy consumption cause economic growth?: Evidence from a systematic study of over 100 countries," Journal of Policy Modeling, Elsevier, Elsevier, vol. 30(2), pages 209-220.
    10. James G. MacKinnon, 2007. "Bootstrap Hypothesis Testing," Working Papers, Queen's University, Department of Economics 1127, Queen's University, Department of Economics.
    11. Payne, James E., 2010. "A survey of the electricity consumption-growth literature," Applied Energy, Elsevier, Elsevier, vol. 87(3), pages 723-731, March.
    12. Ozturk, Ilhan, 2010. "A literature survey on energy-growth nexus," Energy Policy, Elsevier, Elsevier, vol. 38(1), pages 340-349, January.
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