| Popis: |
This study examines the stationarity properties of per capita electricity consumption for 17Asian countries during the 1971-2014 period. We utilize a new panel stationarity test that models structural shifts as a gradual process. This Fourier panel stationarity test (FKPSS) accounts for cross-sectional dependence and allows heterogeneity across cross-sections in the panel. Moreover, this study applies several new panel stationarity tests that complement the FKPSS test. We find strong evidence supporting the stationarity of per capita electricity consumption in the 17 Asian countries included in the study. Therefore, policies to manage electricity demand will have a transitory effect as per capita electricity consumption will, after a shock, return to its long-run trend path. Keywords: Electricity Consumption, Asia, Structural Breaks, Fourier Approximation, Panel Unit-Root Test JEL Classification Number: C20, C22, C23, Q4, O53, O55 |
