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Energy Consumption and Economic Growth in OECD Countries

Author

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  • El in Ayka Alp

    (Department of Economics, Faculty of Business, Istanbul Commerce University, Sutluce, Beyoglu, Istanbul, Turkey.)

Abstract

Energy consumption is analyzed economically in many ways especially in energy economics literature. The influence on the basis of this analysis shows the effects of environmental factors and energy-based economic crisis to the growth of the country. The main reason that is pushing countries to identify effective energy policies, and it is necessary to predict what will be the impact of these policies on economic growth. The aim of this study is to analyze the causal relationship between growth and energy consumption in Organization for Economic Co-operation and Development (OECD) countries during the period of 1980-2012. In this study, 4 basic hypotheses, the neutrality hypothesis, the growth hypothesis, the conservation hypothesis, the feedback hypothesis will be tested from the obtained International Energy Statistics of 23 OECD countries. The test of causality is made with Granger causality analysis. Also vector autoregressive models and Johansen co-integration analysis are used by the relevance of the data. From those analyses of 23 OECD countries, 11 neutrality, 4 conservation, and 6 growth hypothesis is found to be valid for the period of 1980-2012.

Suggested Citation

  • El in Ayka Alp, 2016. "Energy Consumption and Economic Growth in OECD Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 6(4), pages 753-759.
    • Handle: RePEc:eco:journ2:2016-04-11
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    Citations

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    Cited by:

    1. Marianna Oliskevych & Galyna Beregova & Viktor Tokarchuk, 2018. "Fuel Consumption in Ukraine: Evidence from Vector Error Correction Model," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 58-63.
    2. Ghazouani, Tarek & Boukhatem, Jamel & Yan Sam, Chung, 2020. "Causal interactions between trade openness, renewable electricity consumption, and economic growth in Asia-Pacific countries: Fresh evidence from a bootstrap ARDL approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 133(C).
    3. Ireneusz Miciuła & Henryk Wojtaszek & Marek Bazan & Tomasz Janiczek & Bogdan Włodarczyk & Judyta Kabus & Radomir Kana, 2020. "Management of the Energy Mix and Emissivity of Individual Economies in the European Union as a Challenge of the Modern World Climate," Energies, MDPI, vol. 13(19), pages 1-24, October.
    4. Brandão, Lucas G.L. & Ehrl, Philipp, 2022. "The impact of transmission auctions on Brazilian electric power companies," Utilities Policy, Elsevier, vol. 78(C).
    5. Yuzran Bustamar & Ian Lange & Elizabeth Van Wie Davis, 2017. "Characteristic of Successful Energy Policy from Politics, Economics, Social and Technological Perspective - a qualitative analysis," Working Papers 2017-10, Colorado School of Mines, Division of Economics and Business.

    More about this item

    Keywords

    Energy Consumption; Economic Growth; Energy Policy;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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