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A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An Empirical Investigation

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  • Chun-Yu Ho

    ()
    (Boston University, Department of Economics)

  • Kam Wing Siu

    ()
    (Boston University, Department of Economics)

Abstract

Public debates on electricity policy in Hong Kong focus on the regulation regime but sel- dom discuss the macroeconomic impact. In this paper, we use the novel dataset on electricity consumption and report the following ?ndings: (1) there is a long run equilibrium relationship between real GDP and electricity consumption, (2) a one-way causal e¤ect exists from electric- ity consumption to real GDP, (3) a signi?cant adjustment process occurs when equilibrium is interrupted, (4) there exists possible structural change in the relationship between electricity consumption and economic activities in 1990s.

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Bibliographic Info

Paper provided by Boston University - Department of Economics in its series Boston University - Department of Economics - Working Papers Series with number WP2006-049.

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Length: 22 pages
Date of creation: Sep 2006
Date of revision:
Handle: RePEc:bos:wpaper:wp2006-049

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Keywords: Cointegration and error correction; electricity; Hong Kong.;

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References

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