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Are fluctuations in electricity consumption per capita transitory? evidence from developed and developing economies

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  • Shahbaz, Muhammad
  • Tiwari, Aviral
  • Ilhan, Ozturk
  • Abdul, Farooq

Abstract

This paper investigates the unit root properties of electricity consumption per capita for the 67 developed and developing countries for 1971-2007 period. To examine the stationary properties of electricity consumption per capita, we have adopted Lee and Strazicich (2003, 2004) test of unit root that allows us to test for at most two endogenous breaks and uses the Lagrange Multiplier (LM) test statistics. Results show that 65 country series reject the unit root null hypothesis except for 2 country series. Thus, our empirical findings provide significant evidence that electricity consumption per capita is stationary in almost all countries considered in the study. The stationarity of electricity consumption per capita indicates that it should be possible for the series to forecast future movements in the energy consumption based on the past behaviors of the series.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39443.

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Date of creation: 10 Jun 2012
Date of revision: 11 Jun 2012
Handle: RePEc:pra:mprapa:39443

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Keywords: Electricity; Transitory; Permanent;

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  1. Paresh Kumar Narayan & Russell Smyth, 2005. "Are Shocks To Energy Consumption Permanent Or Temporary? Evidence From 182 Countries," Development Research Unit Working Paper Series, Monash University, Department of Economics 06/05, Monash University, Department of Economics.
  2. Aslan, Alper & Kum, Hakan, 2011. "The stationary of energy consumption for Turkish disaggregate data by employing linear and nonlinear unit root tests," Energy, Elsevier, Elsevier, vol. 36(7), pages 4256-4258.
  3. Apergis, Nicholas & Loomis, David & Payne, James E., 2010. "Are fluctuations in coal consumption transitory or permanent? Evidence from a panel of US states," Applied Energy, Elsevier, Elsevier, vol. 87(7), pages 2424-2426, July.
  4. Zivot, Eric & Andrews, Donald W K, 2002. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 20(1), pages 25-44, January.
  5. Narayan, Paresh Kumar & Narayan, Seema & Smyth, Russell, 2008. "Are oil shocks permanent or temporary? Panel data evidence from crude oil and NGL production in 60 countries," Energy Economics, Elsevier, Elsevier, vol. 30(3), pages 919-936, May.
  6. Junsoo Lee & Mark C. Strazicich, 2003. "Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 85(4), pages 1082-1089, November.
  7. Perron, Pierre, 1990. "Testing for a Unit Root in a Time Series with a Changing Mean," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 8(2), pages 153-62, April.
  8. Mishra, Vinod & Sharma, Susan & Smyth, Russell, 2009. "Are fluctuations in energy consumption per capita transitory? Evidence from a panel of Pacific Island countries," Energy Policy, Elsevier, Elsevier, vol. 37(6), pages 2318-2326, June.
  9. Lean, Hooi Hooi & Smyth, Russell, 2009. "Long memory in US disaggregated petroleum consumption: Evidence from univariate and multivariate LM tests for fractional integration," Energy Policy, Elsevier, Elsevier, vol. 37(8), pages 3205-3211, August.
  10. Lee, Chien-Chiang & Chang, Chun-Ping, 2005. "Structural breaks, energy consumption, and economic growth revisited: Evidence from Taiwan," Energy Economics, Elsevier, Elsevier, vol. 27(6), pages 857-872, November.
  11. Kumar Narayan, Paresh & Narayan, Seema & Popp, Stephan, 2010. "Energy consumption at the state level: The unit root null hypothesis from Australia," Applied Energy, Elsevier, Elsevier, vol. 87(6), pages 1953-1962, June.
  12. Apergis, Nicholas & Loomis, David & Payne, James E., 2010. "Are shocks to natural gas consumption temporary or permanent? Evidence from a panel of U.S. states," Energy Policy, Elsevier, Elsevier, vol. 38(8), pages 4734-4736, August.
  13. Hasanov, Mübariz & Telatar, Erdinc, 2011. "A re-examination of stationarity of energy consumption: Evidence from new unit root tests," Energy Policy, Elsevier, Elsevier, vol. 39(12), pages 7726-7738.
  14. Kapetanios, George & Shin, Yongcheol & Snell, Andy, 2003. "Testing for a unit root in the nonlinear STAR framework," Journal of Econometrics, Elsevier, Elsevier, vol. 112(2), pages 359-379, February.
  15. Al-Iriani, Mahmoud A., 2006. "Energy-GDP relationship revisited: An example from GCC countries using panel causality," Energy Policy, Elsevier, Elsevier, vol. 34(17), pages 3342-3350, November.
  16. Aslan, Alper, 2011. "Does natural gas consumption follow a nonlinear path over time? Evidence from 50 US States," Renewable and Sustainable Energy Reviews, Elsevier, Elsevier, vol. 15(9), pages 4466-4469.
  17. Chen, Pei-Fen & Lee, Chien-Chiang, 2007. "Is energy consumption per capita broken stationary? New evidence from regional-based panels," Energy Policy, Elsevier, Elsevier, vol. 35(6), pages 3526-3540, June.
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Cited by:
  1. Hooi Hooi Lean & Russell Smyth, 2013. "Will initiatives to promote hydroelectricity consumption be effective? Evidence from univariate and panel LM unit root tests with structural breaks," Development Research Unit Working Paper Series, Monash University, Department of Economics 47-13, Monash University, Department of Economics.

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