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Analyzing of economic growth based on electricity consumption from different sources

Author

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  • Maksimović, Goran
  • Milosavljević, Valentina
  • Ćirković, Bratislav
  • Milošević, Božidar
  • Jović, Srđan
  • Alizamir, Meysam

Abstract

Economic growth could be influenced by different factors. In this study was analyzed the economic growth based on the electricity consumption form different sources. As economic growth indicator gross domestic product (GDP) was used. ANFIS (adaptive neuro fuzzy inference system) methodology was applied to determine the most important factors from the given set for the GDP growth prediction. Six inputs were used: electricity production from coal, hydroelectric, natural gas, nuclear, oil and renewable sources. Results shown that the electricity consumption from renewable sources has the highest impact on the economic or GDP growth prediction.

Suggested Citation

  • Maksimović, Goran & Milosavljević, Valentina & Ćirković, Bratislav & Milošević, Božidar & Jović, Srđan & Alizamir, Meysam, 2017. "Analyzing of economic growth based on electricity consumption from different sources," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 484(C), pages 37-40.
    • Handle: RePEc:eee:phsmap:v:484:y:2017:i:c:p:37-40
    DOI: 10.1016/j.physa.2017.04.174
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    References listed on IDEAS

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    1. Al-mulali, Usama & Fereidouni, Hassan Gholipour & Lee, Janice Y.M., 2014. "Electricity consumption from renewable and non-renewable sources and economic growth: Evidence from Latin American countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 30(C), pages 290-298.
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    5. Krkoska, Libor & Teksoz, Utku, 2009. "How reliable are forecasts of GDP growth and inflation for countries with limited coverage?," Economic Systems, Elsevier, vol. 33(4), pages 376-388, December.
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    Cited by:

    1. Liu, Yanxin & Li, Huajiao & Guan, Jianhe & Liu, Xueyong & Guan, Qing & Sun, Qingru, 2019. "Influence of different factors on prices of upstream, middle and downstream products in China's whole steel industry chain: Based on Adaptive Neural Fuzzy Inference System," Resources Policy, Elsevier, vol. 60(C), pages 134-142.
    2. Solomon P. Nathaniel & Festus V. Bekun, 2020. "Electricity Consumption, Urbanization and Economic Growth in Nigeria: New Insights from Combined Cointegration amidst Structural Breaks," Working Papers 20/013, European Xtramile Centre of African Studies (EXCAS).
    3. Puertas, Rosa & Guaita-Martinez, José M. & Carracedo, Patricia & Ribeiro-Soriano, Domingo, 2022. "Analysis of European environmental policies: Improving decision making through eco-efficiency," Technology in Society, Elsevier, vol. 70(C).
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