Energy consumption, economic growth, and structural breaks: Evidence from OECD countries
| Autor: | Tsai-wei Liu, 劉采薇 |
|---|---|
| Rok vydání: | 2015 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 103 This research adopts a panel analysis method to research the panel co-integration and panel vector error correction models for a set of 30 OECD countries by using annual data covering the period 1980-2013. The relationship between energy consumption and economic growth is investigated by taking into account structural breaks when applying the vector error correction model. The following results are found: Firstly, a fairly long-run relationship is acquired from the model between the two energy variables: Energy and petro-consumption, and the two economic variables: Consumer price index and M2. Secondly, after adopting structural breaks, the different results shown reflect the causality relationship: Before the structural break actually takes place, a short-run relationship exists between the three energy variables of energy, electricity, and petro-consumption, and the economic variable GDP. However, this relationship is not significant after the structural break. Thirdly, when structural breaks are not considered, the relationship between energy consumption and CPI is positive. After taking structural breaks into consideration, the relationship between energy consumption and CPI becomes negative. It is found that neglecting the impact of structural breaks tends to mislead policy makers about the direction and effect of the casual relationships. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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