Causal relationship between energy consumption and GDP revisited: the case of Korea 1970–1999
Causal relationship between energy consumption and economic growth is investigated applying a multivariate model of capital, labor, energy and GDP. Usual BTU energy aggregate is substituted with a Divisia aggregate in an attempt to mitigate aggregation bias. To test for Granger causality in the pres...
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| Veröffentlicht in: | Energy economics 2004, Vol.26 (1), p.51-59 |
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| container_title | Energy economics |
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| creator | Oh, Wankeun Lee, Kihoon |
| description | Causal relationship between energy consumption and economic growth is investigated applying a multivariate model of capital, labor, energy and GDP. Usual BTU energy aggregate is substituted with a Divisia aggregate in an attempt to mitigate aggregation bias. To test for Granger causality in the presence of cointegration among the variables, we employ a vector error correction model rather than a vector autoregressive model. Empirical results for Korea over the period 1970–1999 suggest a long run bidirectional causal relationship between energy and GDP, and short run unidirectional causality running from energy to GDP. The source of causation in the long run is found to be the error correction terms in both directions. |
| doi_str_mv | 10.1016/S0140-9883(03)00030-6 |
| format | Article |
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The source of causation in the long run is found to be the error correction terms in both directions.</description><subject>Applied sciences</subject><subject>Causality</subject><subject>Divisia</subject><subject>Economic data</subject><subject>Economic growth</subject><subject>Economics</subject><subject>Energy</subject><subject>Energy aggregate</subject><subject>Energy consumption</subject><subject>Energy economics</subject><subject>Exact sciences and technology</subject><subject>GDP</subject><subject>General, economic and professional studies</subject><subject>Granger causality</subject><subject>Gross domestic product</subject><subject>Korea</subject><subject>Methodology. 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| fulltext | fulltext |
| identifier | ISSN: 0140-9883 |
| ispartof | Energy economics, 2004, Vol.26 (1), p.51-59 |
| issn | 0140-9883 1873-6181 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37843377 |
| source | RePEc; ScienceDirect Journals (5 years ago - present) |
| subjects | Applied sciences Causality Divisia Economic data Economic growth Economics Energy Energy aggregate Energy consumption Energy economics Exact sciences and technology GDP General, economic and professional studies Granger causality Gross domestic product Korea Methodology. Modelling South Korea |
| title | Causal relationship between energy consumption and GDP revisited: the case of Korea 1970–1999 |
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