Energy Consumption and Economic Growth
Author | : Ansgar Belke |
Publisher | : |
Total Pages | : 22 |
Release | : 2010 |
Genre | : |
ISBN | : 9783867882149 |
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Author | : Ansgar Belke |
Publisher | : |
Total Pages | : 22 |
Release | : 2010 |
Genre | : |
ISBN | : 9783867882149 |
Author | : Ansgar Hubertus Belke |
Publisher | : |
Total Pages | : 24 |
Release | : 2014 |
Genre | : |
ISBN | : |
This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between developments on an international and a national level as drivers of the long-run relationship. Indeed, cointegration between the common components of the underlying variables indicates that international developments dominate the long-run relationship between energy consumption and real GDP. Furthermore, the results suggest that energy consumption is price-inelastic. Causality tests indicate the presence of a bi-directional.
Author | : Redwan Ahmed |
Publisher | : |
Total Pages | : |
Release | : 2017 |
Genre | : |
ISBN | : |
One of the widespread debates in the field of environmental economics that started at the beginning of the 1990s concerns the relation between environmental pollution and economic growth. This research aims to investigate the most likely pattern of the long-run relationship between CO2 emissions and economic growth, identify the factors that drive CO2 emissions and propose policy recommendations for reducing CO2 emissions. The study utilizes panel data on seven variables - per capita CO2 emissions, GDP per capita, energy consumption, human population, trade openness, financial development and corruption in 65 countries over 51 years, from 1960 to 2010. Employing graphical tool and econometric techniques such as panel unit root test, panel cointegration test, FMOLS (Fully Modified Least Squares) estimates, Granger causality and IAA (Innovative Accounting Approach) analysis, the study finds that the most likely pattern of the relationship is a sigmoid curve showing that a country's per capita CO2 emissions increase when the country transitions from a low-income status to a middle-income status to a high-income status. Also, the study documents that the potential factors driving global CO2 emissions are economic growth, financial development, energy consumption and corruption. An appropriate combination of emissions standards, pollution tax on fossil fuel based energy sources, anti-corruption strategies, socio-environmental standards for global trade, mass education and awareness about the adverse effects of CO2 emissions on the environment and human health are potential policy measures.
Author | : Prasanna Kumar P.S |
Publisher | : Prem Jose |
Total Pages | : |
Release | : |
Genre | : Education |
ISBN | : |
Energy and food are the major concerns of most of the developing countries including India, because most of its population (57%) depends on agriculture, which contributes 14.5 per cent to the Gross Domestic Product (GDP) of the country in 2010-11 (Economic Survey 2011-12). India has made a considerable progress in increasing agricultural production and productivity due to the introduction of high yielding varieties, intensive cropping system and increased usage of energy sources like chemicals, fertilizers and high level of mechanization. Agriculture today demands a lot of fossil fuels due to its intensification and market orientation. It demands energy not only directly for its operations but also indirectly for the manufacture of inputs like fertilizers, pesticides and machinery and implements. The productivity of farms depends greatly on the availability and judicious use of farm power by the farmers. Agricultural implements and machines enable the farmers to employ the power judiciously for production purposes. Agricultural machines increase productivity of land and labour by meeting timeliness of farm operations and increase work output per unit time. Besides, its paramount contribution to the multiple cropping and diversification of agriculture, mechanization also enables efficient utilization of inputs such as seeds, fertilizers and irrigation water. Energy consumption is a engine of economic growth in Indian agriculture many energy policies and inventions in India are designed for the needs of industry, transport and urban infrastructure, whilst agricultural energy requirements are frequently overlooked. Although agriculture contributes significantly to economic and social development, energy provision in agriculture has not received the attention the sector deserves. Energy for agriculture needs to have a higher priority in rural policy and technology assessment work in India.
Author | : Pardeep Singh |
Publisher | : John Wiley & Sons |
Total Pages | : 356 |
Release | : 2021-09-06 |
Genre | : Science |
ISBN | : 1119741556 |
Energy Global energy demand has more than doubled since 1970. The use of energy is strongly related to almost every conceivable aspect of development: wealth, health, nutrition, water, infrastructure, education and even life expectancy itself are strongly and significantly related to the consumption of energy per capita. Many development indicators are strongly related to per-capita energy consumption. Fossil fuel is the most conventional source of energy but also increases greenhouse gas emissions. The economic development of many countries has come at the cost of the environment. However, it should not be presumed that a reconciliation of the two is not possible. The nexus concept is the interconnection between the resource energy, water, food, land, and climate. Such interconnections enable us to address trade-offs and seek synergies among them. Energy, water, food, land, and climate are essential resources of our natural environment and support our quality of life. Competition between these resources is increasing globally and is exacerbated by climate change. Improving resilience and securing resource availability would require improving resource efficiency. Many policies and programs are announced nationally and internationally for replacing the conventional mode and also emphasizing on conservation of fossil fuels and reuse of exhausted energy, so a gap in implications and outcomes can be broadly traced by comparing the data. This book aims to highlight problems and solutions related to conventional energy utilization, formation, and multitudes of ecological impacts and tools for the conservation of fossil fuels. The book also discusses modern energy services as one of the sustainable development goals and how the pressure on resource energy disturbs the natural flows. The recent advances in alternative energy sources and their possible future growth are discussed and on how conventional energy leads to greenhouse gas formation, which reduces energy use efficiency. The different policies and models operating is also addressed, and the gaps that remained between them. Climate change poses a challenge for renewable energy, and thus it is essential to identify the factors that would reduce the possibility of relying on sustainable energy sources. This book will be of interest to researchers and stakeholders, students, industries, NGOs, and governmental agencies directly or indirectly associated with energy research.
Author | : Jude Comlanvi Eggoh |
Publisher | : |
Total Pages | : 30 |
Release | : 2014 |
Genre | : |
ISBN | : |
The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups: net energy importers and net energy exporters. It is found that there exists a long-run equilibrium relationship between energy consumption, real GDP, prices, labor and capital for each group of countries as well as for the whole set of countries. This result is robust to possible cross-country dependence and still holds when allowing for multiple endogenous structural breaks, which can differ among countries. Furthermore, we find that decreasing energy consumption decreases growth and vice versa, and that increasing energy consumption increases growth, and vice versa, and that this applies for both energy exporters and importers. Finally, there is a marked difference in the cointegration relationship when country groups are considered.
Author | : Seema Narayan |
Publisher | : MDPI |
Total Pages | : 190 |
Release | : 2020-12-29 |
Genre | : Science |
ISBN | : 3039366769 |
This issue brings together a collection of papers that provide economic insights into the modern energy market, which is still dominated by crude oil but has expanded to incorporate new energy sources in the form of coal, natural gas, and a mixture of renewable energy sources. Given the differences in the dynamics at play with different energy sources, particularly in relation to price determination, the impact they have on the environment, their importance in the energy mix and energy policy, and so forth, it has become imperative to check their behavior using economic models. Papers 1–3 provide some perspective on oil price determination by focusing on the time-varying nature of supply shocks linked to oil producers (Paper 1), OPEC’s announcements (2), and the heterogeneous interconnections of supply or demand shocks over time horizons and different countries (3). Papers 4–6 compare different energy sources within the energy market and other markets (4); explore the importance of energy storage in the electricity market (5); and examine the dynamic relationship between prices of substitutes (oil price) on the natural gas market in China (6). The final four studies examine the impact of renewable and nonrenewable energy on the macroeconomy and the environment.
Author | : Angeliki Menegaki |
Publisher | : Academic Press |
Total Pages | : 402 |
Release | : 2018-03-29 |
Genre | : Business & Economics |
ISBN | : 0128127473 |
The Economics and Econometrics of the Energy-Growth Nexus recognizes that research in the energy-growth nexus field is heterogeneous and controversial. To make studies in the field as comparable as possible, chapters cover aggregate energy and disaggregate energy consumption and single country and multiple country analysis. As a foundational resource that helps researchers answer fundamental questions about their energy-growth projects, it combines theory and practice to classify and summarize the literature and explain the econometrics of the energy-growth nexus. The book provides order and guidance, enabling researchers to feel confident that they are adhering to widely accepted assumptions and procedures. Provides guidance about selecting and implementing econometric tools and interpreting empirical findings Equips researchers to get clearer pictures of the most robust relationships between variables Covers up-to-date empirical and econometric methods Combines theory and practice to classify and summarize the literature and explain the econometrics of the energy-growth nexus
Author | : Alain A. Vertes |
Publisher | : John Wiley & Sons |
Total Pages | : 702 |
Release | : 2020-06-10 |
Genre | : Science |
ISBN | : 111915202X |
Reviews the latest advances in biofuel manufacturing technologies and discusses the deployment of other renewable energy for transportation Aimed at providing an interface useful to business and scientific managers, this book focuses on the key challenges that still impede the realization of the billion-ton renewable fuels vision. It places great emphasis on a global view of the topic, reviewing deployment and green energy technology in different countries across Africa, Asia, South America, the EU, and the USA. It also integrates scientific, technological, and business development perspectives to highlight the key developments that are necessary for the global replacement of fossil fuels with green energy solutions. Green Energy to Sustainability: Strategies for Global Industries examines the most recent developments in biofuel manufacturing technologies in light of business, financial, value chain, and supply chain concerns. It also covers the use of other renewable energy sources like solar energy for transportation and proposes a view of the challenges over the next two to five decades, and how these will deeply modify the industrial world in the third millennium. The coming of age of electric vehicles is also looked at, as is the impact of their deployment on the biomass to biofuels value chain. Offers extensive updates on the field of green energy for global industries Covers the structure of the energy business; chemicals and diesel from biomass; ethanol and butanol; hydrogen and methane; and more Provides an expanded focus on the next generation of energy technologies Reviews the latest advances in biofuel manufacturing technologies Integrates scientific, technological and business perspectives Highlights important developments needed for replacing fossil fuels with green energy Green Energy to Sustainability: Strategies for Global Industries will appeal to academic researchers working on the production of fuels from renewable feedstocks and those working in green and sustainable chemistry, and chemical/process engineering. It is also an excellent textbook for courses in bioprocessing technology, renewable resources, green energy, and sustainable chemistry.
Author | : Fei Lu |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : |
As economic growth and energy consumption are strongly correlated, this research proposes a novel set of energy consumption indices (ECI) that leverages the mixing-frequency method to predict GDP growth rates. The findings demonstrate that the newly developed indices have strong predictive power. In particular, the electricity consumption index from the industrial sector has excellent forecasting performance, which deserves the attention of the government and the academia to monitor and regulate the economic operation. The mixed-frequency model with the Least Absolute Shrinkage and Selection Operator approach (MIDAS-LASSO) enables the full exploitation of energy consumption information for stable forecasting performance, even in the context of crisis fluctuations and geopolitical risk shocks. The development of the new ECI provides a better reflection of the macroeconomic environment and serves as a vital tool in GDP forecasting research. Furthermore, we apply forecast encompassing tests and variable selections to investigate the predictive information statistically. By analyzing energy consumption characteristics, we contribute to economic growth hypothesis at the energy-consuming sectors level and offers novel insights into GDP prediction.