The policy implications of the relationship between energy consumption, energy intensity and economic growth in Ghana

2017 ◽  
Vol 41 (4) ◽  
pp. 344-363 ◽  
Author(s):  
Solomon Aboagye
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Energy Intensity ◽  
Policy Implications ◽  
Consumption Energy ◽  
The Relationship

scholarly journals The Impacts of Energy Consumption, Energy Prices and Energy Import-Dependency on Gross and Sectoral Value-Added in Sri Lanka

Energies ◽  
2020 ◽  
Vol 13 (24) ◽  
pp. 6565
Author(s):  
Muntasir Murshed ◽  
Haider Mahmood ◽  
Tarek Tawfik Yousef Alkhateeb ◽  
Mohga Bassim
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Sri Lanka ◽  
Structural Break ◽  
Value Added ◽  
Oil Price ◽  
Policy Implications ◽  
Energy Prices ◽  
Total Energy Consumption ◽  
Consumption Energy

Drifting away from the neoclassical growth conjecture of economic growth being solely dependent on capital and labor inputs, this paper aimed to evaluate the dynamic impacts of energy consumption, energy prices and imported energy-dependency on both gross and sectoral value-added figures of Sri Lanka. The analysis has particularly used the robust econometric methods that can account for structural break issues in the data. The results, in a nutshell, indicated that energy consumption homogeneously contributes to gross, agricultural, industrial and services value-additions in Sri Lanka. However, positive oil price shocks and greater shares of imported energy in the total energy consumption figures are found to dampen the growth figures, especially in the context of the gross, industrial and services value additions. Besides, the joint growth-inhibiting impacts of oil price movements and energy import-dependency are also ascertained. On the other hand, the causality estimates reveal bidirectional causal associations between energy consumption-gross value-added and energy consumption-industrial value-added. In contrast, no causal impact of energy consumption on the agricultural and services value-added is evidenced. Hence, these findings impose key policy implications for constructing crucial energy policy reforms to make sure that the economic growth performances of Sri Lanka are sustained in the future.

scholarly journals The wealth of nations and sustainable development: energy intensity and the environmental Kuznets curve

2020 ◽  
Vol 11 (1) ◽  
pp. 110-123 ◽  
Author(s):  
Ola Honningdal Grytten ◽  
Magnus Lindmark ◽  
Kjell Bjørn Minde
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Environmental Degradation ◽  
Environmental Kuznets Curve ◽  
Energy Intensity ◽  
Polynomial Regression ◽  
Continuous Series ◽  
Kuznets Curve ◽  
Wealth Of Nations ◽  
The Relationship

Scholars warn that wealth leads to unsustainable environmental development. However, over the last decades, studies have shown an increase in environmental degradation at the initial stage of economic growth, and then a decline when economic growth reaches a certain level. This first acceleration and then deceleration create an inverted U-shaped curve between pollution and economic growth, called the environmental Kuznets curve (EKC). Environmental degradation can be measured by different factors. This paper deals with two of them, i.e. energy consumption and energy intensity (EI). The latter is measured as the ratio between energy consumption and GDP. The relationship of energy consumption and intensity to economic growth can serve as a tool for examining whether an EKC exists. The paper presents continuous series of energy consumption energy intensity and gross domestic product for the Norwegian mainland economy 1835–2019. The series are used to examine the possible existence of relative and absolute environmental Kuznets curves (EKC). Time series are established using available data and annual figures for 1835–2019, which are presented for the first time. They depict a development that, first, reflects an almost constant downward trend in EI, and, second, the existence of EKCs. The paper also proposes a polynomial regression model to discuss the relationship between environmental degradation as measured by energy consumption and intensity on the one hand, and economic growth on the other. It is concluded that there are both relative and absolute EKC-relations between environmental degradation and economic growth, with 1975 as relative and 2002 as absolute turning point.

Economic growth and energy consumption nexus in Pakistan

2013 ◽  
Vol 2 (2) ◽  
pp. 251-275 ◽  
Author(s):  
Waqas Ahmed ◽  
Khalid Zaman ◽  
Sadaf Taj ◽  
Rabiah Rustam ◽  
Muhammad Waseem ◽  
...  
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Capita Income ◽  
Energy Demand ◽  
Electricity Consumption ◽  
Policy Implications ◽  
Per Capita Income ◽  
Content Type ◽  
Per Capita ◽  
The Relationship

PurposeThis study aims to examine the relationship between electricity consumption per capita (ELEC) and real per capita income (Y), as the direction of causation of this relationship remains controversial in the existing literature. It also seeks to explore the relationship between energy consumption per capita (ENC) and real per capita income, over a 34‐year period (between 1975 and 2009).Design/methodology/approachThe study uses Johansen cointegration technique to determine the short‐ and long‐run relationship between the variables. The authors also utilize Granger causality test to determine the causal relationship between the selected variables.FindingsThe study provides evidence of bi‐directional causality between the electricity consumption per capita and real per capita income on one hand; and energy consumption per capita and real per capita income on the other hand as the direction of causality has significant policy implications.Research limitations/implicationsThis study does not include all dimensions of the energy growth, but is limited to the three variables which the authors consider to be critical to economic development, including energy consumption, electricity consumption and economic growth.Originality/valueThe study uses a sophisticated econometric technique with additional tests of forecasting framework to examine the effect of energy demand on economic growth over a period of the next ten years, i.e. 2010‐2019, in the context of Pakistan. The impulse response describes the reaction of the system as a function of independent variable that parameterizes the dynamic behavior of the system.

Empirical Study on Energy Consumption and Economic Growth - Evidence from Zhejiang Province

2012 ◽  
Vol 524-527 ◽  
pp. 3083-3086
Author(s):  
Di Ping Zhang ◽  
Jin Nan Wang ◽  
Xiao Ning Zhang ◽  
Jing Wu
Keyword(s):  
Economic Growth ◽  
Energy Efficiency ◽  
Sustainable Development ◽  
Energy Consumption ◽  
Statistical Analysis ◽  
Empirical Study ◽  
Statistical Data ◽  
Zhejiang Province ◽  
Consumption Energy ◽  
The Relationship

Taking Zhejiang Province as an example, this paper using statistical data of 1990-2009 makes a statistical analysis of energy consumption and an empirical research on the relationship between economic growth and energy consumption, energy efficiency by the way of metrology analysis. The result shows the relationship between economic growth and energy consumption, energy efficiency in Zhejiang Province is long balanced. There is a two-way causation between economic growth and energy consumption, but only a single causal relationship between economic growth and energy efficiency, namely, GDP grows by 3.4% when energy efficiency grows by 1%. Therefore, we give some advice on energy consumption in Zhejiang Province and the national economy sustainable development.

scholarly journals Investigating the Nexus among Sulfur Dioxide Emission, Energy Consumption and Economic Growth: Empirical Evidence from Pakistan

2021 ◽  
Author(s):  
Khuda Bakhsh ◽  
Tanzila Akmal ◽  
Tauqeer Ahmad ◽  
Qasir Abbas
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Sulfur Dioxide ◽  
Scale Effect ◽  
Environmental Degradation ◽  
Capital Accumulation ◽  
Fossil Fuels ◽  
Policy Implications ◽  
Technique Effect ◽  
The Relationship

Abstract Developing countries like Pakistan majorly depends on fossil fuels for achieving higher economic growth but have sloppy environmental rules and regulations in order to attract foreign direct investment (FDI). As a result, energy consumption is considered as the primary cause of environmental degradation. Besides CO2 emission, environmental degradation is also associated with emission of sulfur dioxide (SO2). The purpose of this study was to investigate the relationship among SO2 emissions, energy consumption, economic growth and FDI in Pakistan. By applying the 3SLS method study has estimated the scale effect, composition effect and technique effect. The scale effect and technique effect findings indicated that capital stock, FDI, and SO2 emissions all had a significant impact on GDP. When the capital accumulation effects of FDI were considered, the relationship between FDI and stock of capital was found to be positive. According to the technique effect results, FDI, population density, and energy consumption were all significantly related to SO2 emissions. The study came to a conclusion with significant policy implications.

Energy intensity, carbon emissions, renewable energy, and economic growth nexus: New insights from Romania

2018 ◽  
Vol 30 (3) ◽  
pp. 427-443 ◽  
Author(s):  
Fırat Emir ◽  
Festus Victor Bekun
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Carbon Emissions ◽  
Energy Intensity ◽  
Energy Sources ◽  
Success Story ◽  
Renewable Energy Consumption ◽  
The Relationship ◽  
Growth Hypothesis

This study empirically examines the relationship between energy intensity, carbon emissions, renewable energy consumption, and economic growth for the case of Romania given the conflicting evidences in the literature between 1990 and 2014 on a quarterly basis. To this end, our study employs an autoregressive distributive lag (ARDL) model for cointegration, while direction of causality was achieved via the Toda–Yamamoto model. Empirical findings reveal cointegration among the variables under consideration. The causality results show feedback causality between energy intensity and economic growth while uni-directional causality is seen running from renewable energy consumption to economic growth. Thus, this study affirms the energy-led growth hypothesis. Therefore, our study corroborates with the current success story of Romania attaining her energy targets within two decades. However, there is need to sustain this milestone by further diversification of her energy portfolio into other cleaner energy sources.

scholarly journals Intensity Of Energy Use In The U.S.A.: 1949 - 2003

2011 ◽  
Vol 5 (11) ◽  
Author(s):  
Christopher M. Chima
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Energy Use ◽  
Energy Intensity ◽  
Kuznets Curve ◽  
Energy Prices ◽  
Font Size ◽  
Conservation Policies ◽  
The World ◽  
The Relationship

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">The particular role that energy plays in the economy of a country, and the relationship between energy consumption and economic growth are of interest to researchers, analysts, and policymakers. Energy consumption can be seen as either a cause of, or a symptom of economic growth. Therefore, understanding the nature of the interactions between energy consumption and gross domestic product (GDP) can help guide energy policies. This paper examines the energy-GDP relationship in the U.S.A. One common method used in analyzing the energy-GDP relationship is energy intensity (also called the intensity of energy use (IEU)), which is the amount of energy required to produce a unit of income (GDP). The paper begins with a substantial literature review of energy intensity studies from around the world. A summary of the findings is discussed, including the factors that were found to directly influence the intensity of energy use. The Kuznets environmental curve is then presented and used in developing a model for the IEU. The model is then tested with data for the U.S.A. from 1949 &ndash; to 2003. The results show that energy consumption is very sensitive to energy prices, which in turn impacts the GDP, and that the IEU has declined in the U.S.A. for the period tested, fitting the downward slopping segment of the Kuznets curve.<span style="mso-spacerun: yes;">&nbsp; </span>These results imply that energy conservation policies are desirable. </span></span></p>

The relationship between energy consumption, energy prices and economic growth: case study (OPEC countries)

2012 ◽  
Vol 36 (3) ◽  
pp. 272-286 ◽  
Author(s):  
Abbasinejad Hossein ◽  
Gudarzi Farahani Yazdan ◽  
Asghari Ghara Ehsan
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Energy Prices ◽  
Consumption Energy ◽  
The Relationship
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