Economic growth and energy consumption revisited - Evidence from linear and nonlinear Granger causality

Energy Economics

Volumn 30, Issue 6, 2008, Pages 3063-3076

  Chiou Wei, Song Zan ^a   Chen, Ching Fu ^b   Zhu, Zhen ^c  

^a NANHUA UNIVERSITY   (Taiwan)

^b NATIONAL CHENG KUNG UNIVERSITY   (Taiwan)

^c UNIVERSITY OF CENTRAL OKLAHOMA   (United States)

Author keywords

Economic growth; Energy consumption; Neutrality hypothesis; Nonlinear causality test

Indexed keywords

ECOLOGY; ENERGY POLICY; PUBLIC POLICY;

CAUSAL RELATIONSHIPS; ECONOMIC GROWTH; ECONOMIC GROWTHS; EMPIRICAL EVIDENCES; ENERGY CONSUMPTION; ENERGY ECONOMICS; GRANGER CAUSALITY; GRANGER CAUSALITY TESTS; HONG-KONG; INDONESIA; INDUSTRIALIZED COUNTRIES; MALAYSIA; NEUTRALITY HYPOTHESIS; NON-LINEAR BEHAVIORS; NONLINEAR CAUSALITY TEST; PHILIPPINES; POLICY IMPLICATIONS; SINGAPORE; SOUTH KOREA; STRUCTURAL BREAKS; THAILAND; UNITED STATES;

ECONOMICS;

CONSUMPTION BEHAVIOR; ECONOMIC GROWTH; ENERGY MARKET; ENERGY POLICY; ENERGY USE; GRANGER CAUSALITY TEST; LINEARITY; NONLINEARITY;

ASIA; CHINA; EURASIA; FAR EAST; HONG KONG; INDONESIA; KOREA; MALAYSIA; NORTH AMERICA; PHILIPPINES; SINGAPORE [SOUTHEAST ASIA]; SOUTH KOREA; SOUTHEAST ASIA; TAIWAN; THAILAND; UNITED STATES;

EID: 52049124792     PISSN: 01409883     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.eneco.2008.02.002     Document Type: Article

References (35)

1. Asafu-Adjaye J. The relationship between energy consumption, energy prices and economic growth: time series evidence from Asian developing countries. Energy Economics 22 (2000) 615-625
2. Baek E., and Brock W. A general test for nonlinear Granger causality: bivariate Model. Working Paper (1992), Iowa State University and University of Wisconsin-Madison
3. Brock W., Dechect W., and Scheinkman J. A test for independence based on the correlation dimension. Working Paper (1987), Department of Economics, University of Wisconsin, Madison
4. Brock W., Dechect W., Scheinkman J., and Lebaron B. A test for independence based on the correlation dimension. Econometric Reviews 15 (1996) 197-235
5. Cheng B.S. Energy consumption and economic growth in Brazil, Mexico and Venezuela: a time series analysis. Applied Economics Letters 4 (1997) 671-674
6. Cheng B.S., and Lai T.W. An investigation of co-integration and causality between energy consumption and economic activity in Taiwan. Energy Economics 19 (1997) 435-444
7. Diks C., and Panchenko V. A note on the Hiemstra-Jones test for Granger noncausality. Studies in Nonlinear Dynamics and Econometrics 9 2 (2005) 1-7
8. Diks C., and Panchenko V. A new statistic and practical guidelines for nonparametric Granger causality testing. Journal of Economic Dynamics and Control 30 9-10 (2006) 1647-1669
9. Engle R., and Granger C. Cointegration and error correction: representation, estimation, and testing. Econometrica 55 (1987) 251-276
10. Glasure Y.U. Energy and national income in Korea: further evidence on the role of omitted variables. Energy Economics 24 (2002) 355-365
11. Granger C. Investigate causal relations by econometric models and cross spectral methods. Econometrica 37 (1969) 424-438
12. Grassberger P., and Procassia I. Measuring the strangeness attractors. Physica D 9 (1983) 189-208
13. Hiemstra C., and Jones J. Testing for linear and nonlinear Granger causality in the stock price-volume relation. Journal of Finance 49 (1994) 1639-1664
14. Hondroyiannis G., Lolos S., and Papaetrou E. Energy consumption and economic growth: assessing the evidence from Greece. Energy Economics 24 (2002) 319-336
15. Hwang D.B.K., and Gum B. The causal relationship between energy and GNP: the case of Taiwan. Journal of Energy and Development 16 (1992) 219-226
16. Johansen S. Statistical and hypothesis testing of cointegration vectors. Journal of Economic Dynamics and Control 12 (1988) 231-254
17. Johansen S., and Juselius K. Maximum likelihood estimation and inference in cointegration with application to the demand for money. Oxford Bulletin of Economics and Statistics 5 (1990) 169-209
18. Kraft J., and Kraft A. On the relationship between energy and GNP. Journal of Energy and Development 3 (1978) 401-403
19. Lee C.C. Energy consumption and GDP in developing countries: a cointegrated panel analysis. Energy Economics 27 (2005) 415-427
20. Lee C.C. The causality relationship between energy consumption and GDP in G-11 countries revisited. Energy Policy 34 (2006) 1086-1093
21. Lee C.C., and Chang C.P. Structural breaks, energy consumption, and economic growth revisited: evidence from Taiwan. Energy Economics 27 (2005) 857-872
22. Masih A.M.M., and Masih R. Energy consumption, real income and temporal causality: results from a multi-country study based on cointegration and error-correction modeling techniques. Energy Economics 18 (1996) 165-183
23. Masih A.M.M., and Masih R. On the temporal relationship between energy consumption, real income and prices: some new evidence from Asian-energy dependent NICs based on a multivariate cointegration and error-correction approach. Journal of Policy Modeling 19 (1997) 417-440
24. MOE. AREMO Economic-statistic Data Banks (2006), Ministry of Education, Taiwan
25. Oh W., and Lee K. Causal relationship between energy consumption and GDP revisited: the case of Korea 1970-1999. Energy Economics 26 (2004) 51-59
26. Reimers H.E. Comparison of tests for multivariate cointegration. Statistical Papers 33 (1992) 335-359
27. Sims C.A. Macroeconomics and reality. Econometrica 48 (1980) 1-48
28. Soytas U., and Sari R. Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Economics 25 (2003) 33-37
29. World Bank. World Development Indicators (2005), World Bank, Washington DC
30. Yang H.Y. A note on the causal relationship between energy and GDP in Taiwan. Energy Economics 22 (2000) 309-317
31. Yemane W.-R. Disaggregated industrial energy consumption and GDP: the case of Shanghai. Energy Economics 26 (2004) 69-75
32. Yu E.S.H., and Hwang B.K. The relationship between energy and GNP: further results. Energy Economics 6 (1984) 186-190
33. Yu E.S.H., and Choi J.Y. The causal relationship between energy and GNP: an international comparison. Journal of Energy and Development 10 (1985) 249-272
34. Yu S.H., and Jin J.C. Cointegration test of energy consumption, income and employment. Resources and Energy 14 (1992) 259-266
35. Zivot E., and Andrews D. Further evidence on the great crash, the oil price shock and the unit root hypothesis. Journal of Business and Economic Statistics 10 (1992) 936-954