Exploring the transformation and upgrading of China's economy using electricity consumption data: A VAR–VEC based model

Physica A: Statistical Mechanics and its Applications

Volumn 473, Issue , 2017, Pages 144-155

  Zhang, Chi ^a   Zhou, Kaile ^a   Yang, Shanlin ^a   Shao, Zhen ^a  

^a HEFEI UNIVERSITY OF TECHNOLOGY   (China)

Author keywords

Electricity consumption; Industrial structure; Transformation and upgrading; VAR VEC

Indexed keywords

ECONOMIC ANALYSIS; ELECTRIC POWER UTILIZATION; ERROR CORRECTION; IMPULSE RESPONSE; INTERNATIONAL TRADE; METADATA; VALUE ENGINEERING;

ECONOMIC TRANSFORMATION; ELECTRICITY-CONSUMPTION; GROSS DOMESTIC PRODUCTS; IMPULSE RESPONSE FUNCTIONS; INDUSTRIAL STRUCTURES; TRANSFORMATION AND UPGRADING; VECTOR ERROR CORRECTION; WORLD TRADE ORGANIZATIONS;

ECONOMIC AND SOCIAL EFFECTS;

EID: 85009282407     PISSN: 03784371     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.physa.2017.01.004     Document Type: Article

References (26)

1. [1] Huang, S., Fidrmuc, J., Fidrmuc, J., Whither China? Reform and economic integration among Chinese regions. China Econ. Rev. 33 (2015), 94–110.
2. [2] Liu, J.-H., Wang, J., Shao, J., Zhou, T., Online social activity reflects economic status. Physica A 457 (2016), 581–589.
3. [3] Sun, M., Zhang, P.-P., Shan, T.-H., Fang, C.-C., Wang, X.-F., Tian, L.-X., Research on the evolution model of an energy supply–demand network. Physica A 391 (2012), 4506–4516.
4. [4] Lin, B., Liu, C., Why is electricity consumption inconsistent with economic growth in China?. Energy Policy 88 (2016), 310–316.
5. [5] Yuan, J., Zhao, C., Yu, S., Hu, Z., Electricity consumption and economic growth in China: Cointegration and co-feature analysis. Energy Econ. 29 (2007), 1179–1191.
6. [6] Liping, L.W.S.F.X., Intensity effect, structure effect and the mystery of electricity consumption in China: Decomposition analysis based on 43 specific industries. Stat. Res., 12, 2011, 013.
7. [7] C.E. Council, The current situation and prospect of China's power industry, 2015. http://www.cec.org.cn/yaowenkuaidi/2015-03-10/134972.html.
8. [8] N.B.o.S.o. China, China Statistical Yearbook, 2015. http://www.stats.gov.cn/tjsj/ndsj/2015/indexch.html.
9. [9] Bentes, S.R., On the integration of financial markets: How strong is the evidence from five international stock markets?. Physica A 429 (2015), 205–214.
10. [10] de Senna, V., Souza, A.M., Assessment of the relationship of government spending on social assistance programs with Brazilian macroeconomic variables. Physica A 462 (2016), 21–30.
11. [11] Ouedraogo, N.S., Energy consumption and economic growth: Evidence from the economic community of West African States (ECOWAS). Energy Econ. 36 (2013), 637–647.
12. [12] Konstantakis, K.N., Michaelides, P.G., Vouldis, A.T., Non performing loans (NPLs) in a crisis economy: Long-run equilibrium analysis with a real time VEC model for Greece (2001–2015). Physica A 451 (2016), 149–161.
13. [13] Abosedra, S., Dah, A., Ghosh, S., Electricity consumption and economic growth, the case of Lebanon. Appl. Energy 86 (2009), 429–432.
14. [14] Kantar, E., Keskin, M., The relationships between electricity consumption and GDP in Asian countries, using hierarchical structure methods. Physica A 392 (2013), 5678–5684.
15. [15] Kemalbay, G., Korkmazoglu, O.B., Effects of multicollinearity on electricity consumption forecasting using partial least squares regression. Procedia-Soc. Behav. Sci. 62 (2012), 1150–1154.
16. [16] Shahbaz, M., Feridun, M., Electricity consumption and economic growth empirical evidence from Pakistan. Qual. Quant. 46 (2011), 1583–1599.
17. [17] Yao, C.-Z., Lin, J.-N., Liu, X.-F., A study of hierarchical structure on South China industrial electricity-consumption correlation. Physica A 444 (2016), 129–145.
18. [18] Dickey, F., Likelihood ratio statistics for autoregressive tim. Econometrica, 1981, 1057–1072.
19. [19] MacKinnon, J.G., Engle, R.F., Granger, C.W., Long-Run Economic Relationships: Readings in Cointegration. 1991, OUP Oxford.
20. [20] Johansen, S., Statistical analysis of cointegration vectors. J. Econom. Dynam. Control 12 (1988), 231–254.
21. [21] Johansen, S., Estimation and hypothesis testing of cointegration. Econometrica, 1991, 1551–1580.
22. [22] Johansen, S., Juselius, K., Maximum likelihood estimation and inference on cointegration-with applications to the demand for money. Oxford Bull. Econ. Statist. 52 (1990), 169–210.
23. [23] Sims, C.A., Money, income, and causality. Amer. Econ. Rev. 62 (1972), 540–552.
24. [24] Brooks, C., Introductory Econometrics for Finance. 2014, Cambridge University Press, New York.
25. [25] Sims, C.A., Macroeconomics and reality. Econometrica 48 (1980), 1–48.
26. [26] N.B.o.S.o. China, The national bureau of statistics database, http://data.stats.gov.cn/index.html.