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Causal relationship between coal consumption and economic growth in Korea

  • Yoo, Seung-Hoon
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    This paper investigates the short- and long-run causality issues between coal consumption and economic growth in Korea by applying modern time-series techniques. It employs annual data covering the period 1968-2002. Tests for unit roots, co-integration, and Granger-causality based on error-correction model are presented. The overall results show that there exists bi-directional causality running from coal consumption to economic growth with feedback. This means that an increase in coal consumption directly affects economic growth. Thus, in order not to adversely affect economic growth, Korea should endeavor to overcome the constraints on coal consumption. Moreover, the study lends support to the argument that an increase in real income gives rise to increased coal consumption.

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    Article provided by Elsevier in its journal Applied Energy.

    Volume (Year): 83 (2006)
    Issue (Month): 11 (November)
    Pages: 1181-1189

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    Handle: RePEc:eee:appene:v:83:y:2006:i:11:p:1181-1189
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    1. Ferguson, Ross & Wilkinson, William & Hill, Robert, 2000. "Electricity use and economic development," Energy Policy, Elsevier, vol. 28(13), pages 923-934, November.
    2. Shiu, Alice & Lam, Pun-Lee, 2004. "Electricity consumption and economic growth in China," Energy Policy, Elsevier, vol. 32(1), pages 47-54, January.
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    4. Hiro Y. Toda & Peter C.B. Phillips, 1991. "Vector Autoregression and Causality," Cowles Foundation Discussion Papers 977, Cowles Foundation for Research in Economics, Yale University.
    5. Kadoshin, Shiro & Nishiyama, Takashi & Ito, Toshihide, 2000. "The trend in current and near future energy consumption from a statistical perspective," Applied Energy, Elsevier, vol. 67(4), pages 407-417, December.
    6. Stock, James H. & Watson, Mark W., 1989. "Interpreting the evidence on money-income causality," Journal of Econometrics, Elsevier, vol. 40(1), pages 161-181, January.
    7. Pantula, Sastry G & Gonzalez-Farias, Graciela & Fuller, Wayne A, 1994. "A Comparison of Unit-Root Test Criteria," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(4), pages 449-59, October.
    8. Geweke, John & Meese, Richard & Dent, Warren, 1983. "Comparing alternative tests of causality in temporal systems : Analytic results and experimental evidence," Journal of Econometrics, Elsevier, vol. 21(2), pages 161-194, February.
    9. Yoo, Seung-Hoon, 2005. "Electricity consumption and economic growth: evidence from Korea," Energy Policy, Elsevier, vol. 33(12), pages 1627-1632, August.
    10. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    11. Glasure, Yong U. & Lee, Aie-Rie, 1998. "Cointegration, error-correction, and the relationship between GDP and energy: The case of South Korea and Singapore," Resource and Energy Economics, Elsevier, vol. 20(1), pages 17-25, March.
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