『Abstract
This paper provides a survey of the recent progress in the literature
of energy consumption-economic growth and electricity consumption-economic
growth causality nexus. The survey highlights that most empirical
studies focus on either testing the role of energy (electricity)
in stimulating economic growth or examining the direction of causality
between these two variables. Although the positive role of energy
on growth has become a stylized fact, there are some methodological
reservations about the results from these empirical studies. A
general observation from these studies is that the literature
produced conflicting results and there is no consensus neither
on the existence nor on the direction of causality between energy
consumption (electricity consumption) and economic growth. As
a policy implication, to avoid from conflicting and unreliable
results, the authors may use the autoregressive distributed lags
bounds test, two-regime threshold co-integration models, panel
data approach and multivariate models including new variables
(such as: real gross fixed capital formation, labor force, carbon
dioxide emissions, population, exchange rates, interest rates,
etc.). Thus, the authors should focus more on the new approaches
and perspectives rather than by employing usual methods based
on a set of common variables for different countries and different
intervals of time.
Keywords: Energy consumption; Electricity consumption; Economic
growth』
1. Introduction
2. The causality literature survey on the energy consumption and
economic growth
2.1. Country-specific studies on energy consumption-growth
nexus
2.2. Multi-country studies on energy consumption-growth nexus
3. The causality literature survey on the electricity consumption
and economic growth
3.1. Country-specific studies on electricity consumption-growth
nexus
3.2. Multi-country studies on electricity consumption-growth
nexus
4. Concluding remarks
Acknowledgement
References