Dynamic Relationship between Energy Consumption and Economic Growth: Evidence from Pakistan
Journal Title: Journal of Empirical Economics - Year 2014, Vol 3, Issue 1
Abstract
This study investigated the dynamic link between energy consumption and economic growth by using time series data of Pakistan from 1980-2011. Augmented Granger Causality test depicted unidirectional causality running from economic growth to energy consumption. Petroleum consumption granger cause economic growth. There was unidirectional causality between gas consumption and economic growth. The study found that GDP granger cause electricity consumption. Engle-Granger test was applied for aggregate analysis of energy consumption and economic growth which showed long run relationship between the variables. ARDL co-integration approach was used for disaggregate analysis which revealed only short run relationship between gas consumption and economic growth. There was only long run relationship between electricity consumption and economic growth.
Authors and Affiliations
Muhammad Imran Khan, Muhammad Waqas
Keywords
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