Energy Consumption and Economic Growth: Evidence from COMESA Countries
AbstractThis study applies panel data techniques to investigate the long-run relationship between energy consumption and GDP for a panel of 19 African countries (COMESA) based on annual data for the period 1980-2005. In the first step, we examine the degree of integration between GDP and energy consumption by employing three panel unit root tests and find that the variables are integrated of order one. In the second step, we investigate the long-run relationship between energy consumption and GDP. Results overwhelming show that GDP and energy consumption move together in the long-run. In the third step, we estimate the long-run relationship and test for causality using panel-based error correction models. The results indicate that long-run and short-run causality is unidirectional, running from energy consumption to GDP.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia with number 46450.
Date of creation: 31 Jan 2009
Date of revision:
Energy consumption; GDP; Panel Causality tests; International Development; Resource /Energy Economics and Policy; O13; O55;
Find related papers by JEL classification:
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
This paper has been announced in the following NEP Reports:
- NEP-AFR-2009-01-17 (Africa)
- NEP-ALL-2009-01-17 (All new papers)
- NEP-ENE-2009-01-17 (Energy Economics)
- NEP-FDG-2009-01-17 (Financial Development & Growth)
- NEP-MAC-2009-01-17 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Asafu-Adjaye, John, 1999.
"The relationship between energy consumption, energy prices and economic growth: Time series evidence from Asian developing countries,"
1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand
123754, Australian Agricultural and Resource Economics Society.
- Asafu-Adjaye, John, 2000. "The relationship between energy consumption, energy prices and economic growth: time series evidence from Asian developing countries," Energy Economics, Elsevier, vol. 22(6), pages 615-625, December.
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