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Energy and economic growth in G20 countries: Panel cointegration analysis

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  • Aynur Pala

Abstract

Rising economic performance has enlarged energy demand, carbon emissions and global warming. Policymakers need to avoid global warming. Therefore, energy-growth nexus is important. This paper empirically investigates the relationship between energy consumption and economic growth for a panel of G20 countries over the period 1990-2016. For this purpose, the paper considers the panel cointegration and panel vector error correction model. Panel cointegration test set out a long-run equilibrium relationship. Long-run relationship is estimated using a Fully Modified OLS (FMOLS) and Dynamic OLS (DOLS). The results show that causality run from energy consumption to GDP. It is indicates that “growth hypothesis†is valid for G20 countries.

Suggested Citation

  • Aynur Pala, 2020. "Energy and economic growth in G20 countries: Panel cointegration analysis," Economics and Business Letters, Oviedo University Press, vol. 9(2), pages 56-72.
    • Handle: RePEc:ove:journl:aid:14237
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/14237
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    Cited by:

    1. Namahoro, J.P. & Nzabanita, J. & Wu, Q., 2021. "The impact of total and renewable energy consumption on economic growth in lower and middle- and upper-middle-income groups: Evidence from CS-DL and CCEMG analysis," Energy, Elsevier, vol. 237(C).
    2. Zhang, Guoxing & Nuruzzaman, Md & Su, Bin, 2021. "Nexus between household energy consumption and economic growth in Bangladesh (1975–2018)," Energy Policy, Elsevier, vol. 156(C).

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