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Relación consumo de energía y PIB: evidencia desde un panel cointegrado de 10 países de América Latina entre 1971 - 2007
[Energy consumption and GDP relationship: evidence from a panel cointegration of ten Latin America Countries between 1971 - 2007]

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  • Campo Robledo, Jacobo
  • Sarmiento Guzmán, Viviana

Abstract

In this paper estimates the long-term relationship in the relationship Energy Consumption - GDP and GDP - Energy Consumption for 10 Latin America countries during the period 1971 to 2007. Through Cointegration test of Westerlund (2006) for panel data, which takes into account the possible dependence between countries (Cross-Section) and any existing structural breaks in long-run relationship, we calculate the elasticities, both individual and regional level. Above, to provide empirical evidence on the ability to design and implement policies those promote energy conservation. Cointegration is found to exist in both directions, energy consumption to GDP, and GDP to energy consumption. It shows the energy dependence of some countries, as well as the possibility of implementing energy conservation in others.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 31772.

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Date of creation: 23 Jun 2011
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Handle: RePEc:pra:mprapa:31772

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Keywords: Consumo de Energía; Estacionariedad en Panel; Cointegración Panel; América Latina.;

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  1. Choi, In, 2001. "Unit root tests for panel data," Journal of International Money and Finance, Elsevier, vol. 20(2), pages 249-272, April.
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  7. Lee, Chien-Chiang & Chang, Chun-Ping, 2008. "Energy consumption and economic growth in Asian economies: A more comprehensive analysis using panel data," Resource and Energy Economics, Elsevier, vol. 30(1), pages 50-65, January.
  8. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  9. BAI, Jushan & PERRON, Pierre, 1998. "Computation and Analysis of Multiple Structural-Change Models," Cahiers de recherche 9807, Universite de Montreal, Departement de sciences economiques.
  10. Magazzino, Cosimo, 2011. "Energy consumption and aggregate income in Italy: cointegration and causality analysis," MPRA Paper 28494, University Library of Munich, Germany.
  11. Lee, Chien-Chiang, 2005. "Energy consumption and GDP in developing countries: A cointegrated panel analysis," Energy Economics, Elsevier, vol. 27(3), pages 415-427, May.
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