Energy Consumption and Economic Growth: A Disaggregate Approach
Journal Title: Asian Economic and Financial Review - Year 2012, Vol 2, Issue 1
Abstract
This paper attempts to examine the long run as well as short run relationship between Pakistan’s real GDP and energy consumption at sectoral level. The analysis is based on the time series data from 1977 to 2010. We estimate the DOLS cointegration to check the long run relationship. The results indicate the long run relationship between energy consumption and real GDP on aggregate level as well as in industry and services sector but no evidence is found in agriculture sector. This paper also examines the direction of causality by employing Granger causality test and found bidirectional causality between variables under study and unidirectional causality runs from real GDP to energy consumption for industrial and services sectors but result is reverse for agriculture sector.
Authors and Affiliations
Mohsin Nawaz| M.Phil student: Applied Economics Research Centre, University of Karachi, Mahpaar Sadaqat| Research Economist: Applied Economics Research Centre, University of Karachi, Naveed Wahid Awan| Senior Lecturer: PAF Kiet University, Karachi, Maria Qureshi| M.Phil student: Applied Economics Research Centre, University of Karachi
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