Electricity consumption and economic growth: evidence from Korea

Electricity consumption and economic growth: evidence from Korea

This paper investigates the short- and long-run causality issues between electricity consumption and economic growth in Korea by using the co-integration and error-correction models. It employs annual data covering the period 1970–2002. The overall results show that there exists bi-directional causa...

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Veröffentlicht in:Energy policy 2005-08, Vol.33 (12), p.1627-1632
1. Verfasser: Yoo, Seung-Hoon
Format: Artikel
Sprache:eng
Schlagworte:
Applied sciences
Causality
Co-integration
Cointegration analysis
Economic data
Economic growth
Effects
Electric energy
Electricity
Electricity consumption
Energy
Energy consumption
Energy economics
Energy policy
Error correction model
Exact sciences and technology
General, economic and professional studies
Korea
Studies
Unit root
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Beschreibung
Zusammenfassung:This paper investigates the short- and long-run causality issues between electricity consumption and economic growth in Korea by using the co-integration and error-correction models. It employs annual data covering the period 1970–2002. The overall results show that there exists bi-directional causality between electricity consumption and economic growth. This means that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption.
ISSN:0301-4215
1873-6777
DOI:10.1016/j.enpol.2004.02.002