TY - JOUR
T1 - Does energy consumption cause economic growth?
T2 - Evidence from a systematic study of over 100 countries
AU - Chontanawat, Jaruwan
AU - Hunt, Lester C.
AU - Pierse, Richard
PY - 2008/3
Y1 - 2008/3
N2 - Energy arguably plays a vital role in economic development. Hence many studies have attempted to test for causality between energy and economic growth; however, no consensus has emerged. This paper, therefore, tests for causality between energy and GDP using a consistent data set and methodology for over 100 countries. Causality from energy to GDP is found to be more prevalent in the developed OECD countries compared to the developing non-OECD countries; implying that a policy to reduce energy consumption aimed at reducing emissions is likely to have greater impact on the GDP of the developed rather than the developing world.
AB - Energy arguably plays a vital role in economic development. Hence many studies have attempted to test for causality between energy and economic growth; however, no consensus has emerged. This paper, therefore, tests for causality between energy and GDP using a consistent data set and methodology for over 100 countries. Causality from energy to GDP is found to be more prevalent in the developed OECD countries compared to the developing non-OECD countries; implying that a policy to reduce energy consumption aimed at reducing emissions is likely to have greater impact on the GDP of the developed rather than the developing world.
KW - Causality
KW - Development
KW - Energy
KW - GDP
KW - Modeling
UR - http://www.scopus.com/inward/record.url?scp=39149107077&partnerID=8YFLogxK
U2 - 10.1016/j.jpolmod.2006.10.003
DO - 10.1016/j.jpolmod.2006.10.003
M3 - Article
AN - SCOPUS:39149107077
SN - 0161-8938
VL - 30
SP - 209
EP - 220
JO - Journal of Policy Modeling
JF - Journal of Policy Modeling
IS - 2
ER -