[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Archive :: Search :: Submit :: Contact ::
Main Menu
Home::
Journal Information::
Articles archive::
For Authors::
For Reviewers::
Registration::
Contact us::
Site Facilities::
::
Search in website

Advanced Search
..
Receive site information
Enter your Email in the following box to receive the site news and information.
..
:: Volume 2, Issue 4 (Quarterly Journal Of Energy Policy and Planning Research 2017) ::
2017, 2(4): 131-164 Back to browse issues page
Energy Consumption and Economic Growth in OPEC Member Countries: New Empirical Evidence using the Panel Co-Integration with Cross-Sectional Dependence
Abstract:   (4519 Views)

The relationship between energy consumption and economic growth play an important role for energy policies. This relationship depends on the presence or absence ofcross-sectional dependence. therefore, cross-sectional dependence should be taken into consideration in empirical studies. This paper investigates the relationship between energy consumption and economic growth in OPEC member countries (including Iran) during the period 1980-2011 taking into consideration the Cross-Sectional Dependence. In this regard, we used the Pesaran’s cross-sectional Test (2004), cross-sectional augmented IPS (CIPS) unit root test and Westerlund’s co-integration test (2007). To estimate long-run coefficients we used the continuously-updated and fully-modified (Cup-FM) method sproposed by Bai et al (2009). The short-run coefficients have been estimated using pooled mean group approach sproposed by Pesaran et al (1999). The results indicate a positive impact of energy consumption on economic growth in OPEC countries in long-run and short-run. Also, in the short-term and long-term, there is atwo-way causality between economic growth and energy consumption  which support the feedback hypothesis.

Keywords: Economic Growth, Energy Consumption, Cross-Sectional Dependence, Continuously-Updated and Fully-Modified (Cup-FM), Pooled Mean Group Estimator (PMG), OPEC Member Countries.
Full-Text [PDF 1120 kb]   (1536 Downloads)    
Type of Study: Research | Subject: Special
Received: 2017/07/4 | Accepted: 2017/07/4 | Published: 2017/07/4
Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Energy Consumption and Economic Growth in OPEC Member Countries: New Empirical Evidence using the Panel Co-Integration with Cross-Sectional Dependence . Quarterly Journal of Energy Policy and Planning Research 2017; 2 (4) :131-164
URL: http://epprjournal.ir/article-1-265-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 2, Issue 4 (Quarterly Journal Of Energy Policy and Planning Research 2017) Back to browse issues page
مجله پژوهش های برنامه ریزی و سیاستگذاری انرژی Journal of Energy Planning And Policy Research
Persian site map - English site map - Created in 0.04 seconds with 37 queries by YEKTAWEB 4645