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Economic Freedom Indicator Contribute to Energy Utilization? A Missing Link in Energy Reforms

Author

Listed:
  • Qudsia Shafiq

    (Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan)

  • Khalid Zaman

    (Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan)

Abstract

The objective of the study is to examine the possible linkages between economic freedom indicators and energy utilization in Pakistan, for the time period during 1995-2013. The study used three most promising energy variables i.e. coal, electricity and oil energy consumption, which serves as dependent variables of the study. Further, the study used ten economic freedom indicators which served as explanatory variables of the study. The study performs ordinary least square regression technique and Granger causality test for the model. The results show that economic freedom indicators act as a strong contributor to increase energy consumption in Pakistan, however, Granger causality test in most of the cases does not show any cause-effect relationship between energy variables and economic freedom indicators, except coal consumption with more or less Granger cause economic freedom indicators but not vice versa.

Suggested Citation

  • Qudsia Shafiq & Khalid Zaman, 2014. "Economic Freedom Indicator Contribute to Energy Utilization? A Missing Link in Energy Reforms," Bulletin of Energy Economics (BEE), The Economics and Social Development Organization (TESDO), vol. 2(4), pages 124-135, December.
    • Handle: RePEc:ijr:beejor:v:2:y:2014:i:4:p:124-135
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    More about this item

    Keywords

    Energy Consumption; Economic Freedom Indicators; OLS; Pakistan;
    All these keywords.

    JEL classification:

    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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