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The Impact of Energy Consumption and Total Factor Productivity on Economic Growth Oil Producing African Countries

Author

Listed:
  • Ishmael Ackah

    (Department of Energy Studies, Yeshua Institute of Technology, Accra Ghana)

  • Frank Adu

    (Department of Economics, KNUST, Ghana)

Abstract

This study examines the factors which influence Economic Growth, measure the growth rate of total factor productivity (TFP) and examine the relationship between TFP, nonrenewable energy consumption and renewable energy consumption to economic growth in oil producing African countries. An augmented production function is employed to estimate the TFP. In addition, a panel cointegration and a fixed effect model in a Pooled least squares are used to examine the relationship among the variables. The findings suggest that the growth rate of total factor productivity is negative. The panel estimations indicate a significant relationship between economic growth, non-renewable energy consumption, renewable energy consumption, capital and human capital development. The Granger causality test indicates that there is a unidirectional causality from non-renewable energy to growth but bidirectional causality between renewable energy and growth in the long run. The study recommends investment in commercial sources of renewable energy to boost energy supply and investment in factors that will enhance TFP growth.

Suggested Citation

  • Ishmael Ackah & Frank Adu, 2014. "The Impact of Energy Consumption and Total Factor Productivity on Economic Growth Oil Producing African Countries," Bulletin of Energy Economics (BEE), The Economics and Social Development Organization (TESDO), vol. 2(2), pages 28-40, June.
  • Handle: RePEc:ijr:beejor:v:2:y:2014:i:2:p:28-40
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    Citations

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    Cited by:

    1. Nagmi Moftah Aimer, 2020. "Renewable energy consumption, financial development and economic growth: Evidence from panel data for the Middle East and North African countries," Economics Bulletin, AccessEcon, vol. 40(3), pages 2058-2072.
    2. Kwakwa, Paul Adjei, 2014. "Energy-growth nexus and energy demand in Ghana: A review of empirical studies," MPRA Paper 54971, University Library of Munich, Germany, revised 01 Apr 2014.
    3. Kwakwa, Paul Adjei, 2015. "An investigation into the determinants of hydropower generation in Ghana," MPRA Paper 68033, University Library of Munich, Germany.

    More about this item

    Keywords

    Total Factor Productivity; Renewable Energy Consumption; Energy Consumption;
    All these keywords.

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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