skip to main content

The role of economic complexity in shaping the energy-growth nexus: Evidence from cross-country panel data

Department of Economics, College of Administration and Economics, University of Duhok, Duhok, Kurdistan Region, Iraq

Received: 28 Dec 2023; Revised: 6 Feb 2024; Accepted: 12 Feb 2024; Available online: 20 Feb 2024; Published: 1 Mar 2024.
Editor(s): H Hadiyanto
Open Access Copyright (c) 2024 The Author(s). Published by Centre of Biomass and Renewable Energy (CBIORE)
Creative Commons License This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Citation Format:
Abstract

The study investigated the interplay between energy consumption (EN), economic growth (EG), and economic complexity across 59 countries from 2000 to 2018. Employing panel data methods, the research examined various models to estimate long-term effects while addressing unobserved heterogeneity and potential biases. Results indicate significant relationships between EG, EN, and economic complexity. Notably, the economic complexity index (ECI) displayed a positive effect on economic development, while trade openness and foreign direct investment showed varying impacts. The study identified a positive association between EG and EN, suggesting that increased energy consumption accompanies economic growth. However, a higher capital-to-labor ratio was associated with lower EN, indicating a substitution effect. Of particular note is the significant positive impact of the interaction between ECI and EN on GDP across various models. In the Country Fixed Effects Model, a one-unit increase in the interaction correlated with a 0.026 unit increase in GDP (p < 0.001). Similarly, significant positive relationships were observed in the Panel EGLS and FMOLS models, with coefficients of 0.055 and 0.031, respectively (p < 0.001 and p = 0.011). Conversely, all models consistently demonstrated a negative relationship between economic complexity and GDP, with coefficients ranging from -0.062 to -0.089 (p < 0.001). These findings underscore the importance of considering economic complexity and energy consumption in policy interventions aimed at promoting sustainable economic growth. Policymakers are encouraged to adopt comprehensive approaches that account for the complex interplay of various factors influencing economic development and energy consumption to formulate effective strategies.

Fulltext View|Download
Keywords: Energy consumption; Economic development; Economic complexity; Panel data methods

Article Metrics:

  1. Acaravci, A., & Ozturk, I. (2010). Electricity consumption-growth nexus: Evidence from panel data for transition countries. Energy Economics, 32(3), 604–608. https://doi.org/10.1016/j.eneco.2009.10.016
  2. Ajmi, A. N., Hammoudeh, S., Nguyen, D. K., & Sato, J. R. (2015). On the relationships between CO2 emissions, energy consumption and income: The importance of time variation. Energy Economics, 49, 629–638. https://doi.org/10.1016/j.eneco.2015.02.007
  3. Apergis, N., & Payne, J. E. (2009). Energy consumption and economic growth in Central America: Evidence from a panel cointegration and error correction model. Energy Economics, 31(2). https://doi.org/10.1016/j.eneco.2008.09.002
  4. Apergis, N., & Payne, J. E. (2011). On the causal dynamics between renewable and non-renewable energy consumption and economic growth in developed and developing countries. Energy Systems, 2(3), 299–312. https://doi.org/10.1007/s12667-011-0037-6
  5. Arouri, M. E. H., Ben Youssef, A., M’henni, H., & Rault, C. (2012). Energy consumption, economic growth and CO2 emissions in Middle East and North African countries. Energy Policy, 45, 342–349. https://doi.org/10.1016/J.ENPOL.2012.02.042
  6. Belke, A., Dobnik, F., & Dreger, C. (2011). Energy consumption and economic growth: New insights into the cointegration relationship. Energy Economics, 33(5), 782–789. https://doi.org/10.1016/J.ENECO.2011.02.005
  7. Belloumi, M. (2009). Energy consumption and GDP in Tunisia: Cointegration and causality analysis. Energy Policy, 37(7), 2745–2753. https://doi.org/10.1016/j.enpol.2009.03.027
  8. Borozan, D. (2013). Exploring the relationship between energy consumption and GDP: Evidence from Croatia. Energy Policy, 59, 373–381. https://doi.org/10.1016/j.enpol.2013.03.061
  9. Bowden, N., & Payne, J. E. (2010). Sectoral Analysis of the Causal Relationship Between Renewable and Non-Renewable Energy Consumption and Real Output in the US. Energy Sources, Part B: Economics, Planning, and Policy, 5(4), 400–408. https://doi.org/10.1080/15567240802534250
  10. Can, M., Brusselaers, J., & Mercan, M. (2022). The effect of export composition on energy demand: A fresh evidence in the context of economic complexity. Review of Development Economics. https://doi.org/10.1111/RODE.12854
  11. Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D., & Trembling, A. (2015). Renewable energy and growth: Evidence from heterogeneous panel of G7 countries using Granger causality. Renewable and Sustainable Energy Reviews, 52, 1405–1412. https://doi.org/10.1016/J.RSER.2015.08.022
  12. Charfeddine, L., & Kahia, M. (2019). Impact of renewable energy consumption and financial development on CO2 emissions and economic growth in the MENA region: A panel vector autoregressive (PVAR) analysis. Renewable Energy, 139, 198–213. https://doi.org/10.1016/j.renene.2019.01.010
  13. Chen, C., Xue, B., Cai, G., Thomas, H., & Stückrad, S. (2019). Comparing the energy transitions in Germany and China: Synergies and recommendations. Energy Reports, 5, 1249–1260. https://doi.org/10.1016/j.egyr.2019.08.087
  14. Cheng, B. S., & Lai, T. W. (1997). An investigation of co-integration and causality between energy consumption and economic activity in Taiwan. Energy Economics, 19(4), 435–444. https://ideas.repec.org/a/eee/eneeco/v19y1997i4p435-444.html
  15. Chica-Olmo, J., Salaheddine, S. H., & Moya-Fernández, P. (2020). Spatial relationship between economic growth and renewable energy consumption in 26 European countries. Energy Economics, 92, 104962. https://doi.org/10.1016/J.ENECO.2020.104962
  16. Chiou-Wei, S. Z., Chen, C.-F., & Zhu, Z. (2008). Economic growth and energy consumption revisited -- Evidence from linear and nonlinear Granger causality. Energy Economics, 30(6), 3063–3076. https://econpapers.repec.org/RePEc:eee:eneeco:v:30:y:2008:i:6:p:3063-3076
  17. Dickey, D. A., & Fuller, W. A. (1981). Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root. Econometrica, 49(4), 1057. https://doi.org/10.2307/1912517
  18. Erdal, G., Erdal, H., & Esengün, K. (2008). The causality between energy consumption and economic growth in Turkey. Energy Policy, 36(10), 3838–3842. https://doi.org/10.1016/j.enpol.2008.07.012
  19. Fazal, R., Rehman, S. A. U., Rehman, A. U., Bhatti, M. I., & Hussain, A. (2021). Energy-environment-economy causal nexus in Pakistan: A graph theoretic approach. Energy, 214, 118934. https://doi.org/10.1016/j.energy.2020.118934
  20. Fei, L., Dong, S., Xue, L., Liang, Q., & Yang, W. (2011). Energy consumption-economic growth relationship and carbon dioxide emissions in China. Energy Policy, 39(2), 568–574. https://doi.org/10.1016/J.ENPOL.2010.10.025
  21. Fuinhas, J. A., & Marques, A. C. (2012). Energy consumption and economic growth nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL bounds test approach (1965–2009). Energy Economics, 34(2), 511–517. https://doi.org/10.1016/j.eneco.2011.10.003
  22. Ghani, G. M. (2012). Does trade liberalization effect energy consumption? Energy Policy, 43, 285–290
  23. Glasure, Y. U., & Lee, A.-R. (1998). Cointegration, error-correction, and the relationship between GDP and energy:: The case of South Korea and Singapore. Resource and Energy Economics, 20(1), 17–25. https://doi.org/10.1016/S0928-7655(96)00016-4
  24. Gorus, M. S., & Aydin, M. (2019). The relationship between energy consumption, economic growth, and CO2 emission in MENA countries: Causality analysis in the frequency domain. Energy, 168, 815–822. https://doi.org/10.1016/j.energy.2018.11.139
  25. Gurgul, H., & Lach, Ł. (2012). The electricity consumption versus economic growth of the Polish economy. Energy Economics, 34(2), 500–510. https://doi.org/10.1016/j.eneco.2011.10.017
  26. Halicioglu, F. (2009). An econometric study of CO2 emissions, energy consumption, income and foreign trade in Turkey. Energy Policy, 37(3), 1156–1164. https://doi.org/10.1016/j.enpol.2008.11.012
  27. Hidalgo, C. A. (2021). Economic complexity theory and applications. Nature Reviews Physics, 3(2), 92–113. https://doi.org/10.1038/s42254-020-00275-1
  28. Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. Proceedings of the National Academy of Sciences, 106(26), 10570–10575
  29. Hidalgo, C. A., Winger, B., Barabási, A. L., & Hausmann, R. (2007). The product space conditions the development of nations. Science, 317(5837), 482–487. https://doi.org/10.1126/science.1144581
  30. Ho Thi Hong, X., Nguyen Thi Mai, T., Nguyen Thi Huyen, T., & Ngo Thi Hanh, Q. (2021). Forecasting Carbon Dioxide Emissions, Total Energy Consumption and Economic Growth in Asian Countries Based on Grey Theory. International Research Journal of Advanced Engineering and Science, 6(2), 77–81
  31. Hoeriyah, L., Nuryartono, N., & Pasaribu, S. H. (2022). Economic Complexity and Sustainable Growth in Developing Countries. Economics Development Analysis Journal, 11(1), 23–33. https://doi.org/10.15294/EDAJ.V11I1.47294
  32. Huang, B.-N., Hwang, M. J., & Yang, C. W. (2008). Causal relationship between energy consumption and GDP growth revisited: A dynamic panel data approach. Ecological Economics, 67(1), 41–54. https://ideas.repec.org/a/eee/ecolec/v67y2008i1p41-54.html
  33. Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  34. Imran, K., & Siddiqui, M. M. (2010). Energy consumption and economic growth: A case study of three SAARC countries. European Journal of Social Sciences, 16(2). https://doi.org/10.2139/ssrn.2124639
  35. Ivanovski, K., & Hailemariam, A. (2021). Is globalisation linked to CO2 emission? Evidence from OECD nations. Environmental and Ecological Statistics. https://doi.org/10.1007/s10651-021-00520-5
  36. Jayasinghe, M., & Selvanathan, E. A. (2021). Energy consumption, tourism, economic growth and CO2 emissions nexus in India. Journal of the Asia Pacific Economy, 26(2), 361–380. https://doi.org/10.1080/13547860.2021.1923240
  37. Jiang, W., & Chen, Y. (2020). Asymmetries in the nexus among energy consumption, air quality and economic growth in China. Energy Reports, 6, 3141–3149. https://doi.org/10.1016/J.EGYR.2020.11.065
  38. Kahia, M., Omri, A., & Jarraya, B. (2021). Green Energy, Economic Growth and Environmental Quality Nexus in Saudi Arabia. In Sustainability (Vol. 13, Issue 3). https://doi.org/10.3390/su13031264
  39. Kahouli, B. (2017). The short and long run causality relationship among economic growth, energy consumption and financial development: Evidence from South Mediterranean Countries (SMCs). Energy Economics, 68, 19–30. https://doi.org/10.1016/j.eneco.2017.09.013
  40. Kahouli, B. (2018). The causality link between energy electricity consumption, CO2 emissions, R&D stocks and economic growth in Mediterranean countries (MCs). Energy, 145, 388–399. https://doi.org/10.1016/j.energy.2017.12.136
  41. Kahouli, B. (2019). Does static and dynamic relationship between economic growth and energy consumption exist in OECD countries? Energy Reports, 5, 104–116. https://doi.org/10.1016/j.egyr.2018.12.006
  42. Kahouli, B., & Kadhraoui, N. (2012). Consolidation of regional groupings and economic growth: empirical investigation by panel data. International Journal of Euro-Mediterranean Studies, 5(1), 71–92. https://doi.org/10.1007/s40321-012-0003-7
  43. Kahouli, B., & Maktouf, S. (2015). The determinants of FDI and the impact of the economic crisis on the implementation of RTAs: A static and dynamic gravity model. International Business Review, 24(3), 518–529. https://doi.org/10.1016/j.ibusrev.2014.10.009
  44. Kasman, A., & Duman, Y. S. (2015). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: a panel data analysis. Economic Modelling, 44, 97–103. https://doi.org/10.1016/j.econmod.2014.10.022
  45. Kasperowicz, R. (2014). Electricity consumption and economic growth: Evidence from Poland. Journal of International Studies, 7(1), 46–57. https://doi.org/10.14254/2071-8330.2014/7-1/4
  46. Kraft, J., & Kraft, A. (1978). On the Relationship Between Energy and GNP. The Journal of Energy and Development, 3(2), 401–403. http://www.jstor.org/stable/24806805
  47. Krkošková, R. (2021). Causality between energy consumption and economic growth in the V4 countries. Technological and Economic Development of Economy, 27(4), 900–920. https://doi.org/10.3846/tede.2021.14863
  48. Kumar Mandal, S., & Madheswaran, S. (2010). Causality between energy consumption and output growth in the Indian cement industry: An application of the panel vector error correction model (VECM). Energy Policy, 38(11), 6560–6565. https://doi.org/10.1016/j.enpol.2010.07.042
  49. Kyriakopoulos, G. L., & Sebos, I. (2023). Enhancing Climate Neutrality and Resilience through Coordinated Climate Action: Review of the Synergies between Mitigation and Adaptation Actions. Climate, 11(5). https://doi.org/10.3390/cli11050105
  50. Lee, C.-C., & Chien, M.-S. (2010). Dynamic modelling of energy consumption, capital stock, and real income in G-7 countries. Energy Economics, 32(3), 564–581. https://doi.org/10.1016/j.eneco.2009.08.022
  51. Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  52. Lin, B., & Moubarak, M. (2014). Renewable energy consumption – Economic growth nexus for China. Renewable and Sustainable Energy Reviews, 40, 111–117. https://doi.org/10.1016/J.RSER.2014.07.128
  53. Liu, H., Liang, S., & Cui, Q. (2020). The Nexus between Economic Complexity and Energy Consumption under the Context of Sustainable Environment: Evidence from the LMC Countries. International Journal of Environmental Research and Public Health 2021, 124. https://doi.org/10.3390/IJERPH18010124
  54. Long, X., Naminse, E. Y., Du, J., & Zhuang, J. (2015). Nonrenewable energy, renewable energy, carbon dioxide emissions and economic growth in China from 1952 to 2012. Renewable and Sustainable Energy Reviews, 52, 680–688. https://doi.org/10.1016/J.RSER.2015.07.176
  55. Losada-Puente, L., Blanco, J. A., Dumitru, A., Sebos, I., Tsakanikas, A., Liosi, I., Psomas, S., Merrone, M., Quiñoy, D., & Rodríguez, E. (2023). Cross-Case Analysis of the Energy Communities in Spain, Italy, and Greece: Progress, Barriers, and the Road Ahead. Sustainability, 15(18). https://doi.org/10.3390/su151814016
  56. Magazzino, C. (2014). Energy consumption and GDP in Italy: cointegration and causality analysis. Environment, Development and Sustainability 2014 17:1, 17(1), 137–153. https://doi.org/10.1007/S10668-014-9543-8
  57. Magazzino, C., Mutascu, M., Mele, M., & Sarkodie, S. A. (2021). Energy consumption and economic growth in Italy: A wavelet analysis. Energy Reports, 7, 1520–1528. https://doi.org/10.1016/j.egyr.2021.03.005
  58. Mahadevan, R., & Asafu-Adjaye, J. (2007). Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries. Energy Policy, 35(4), 2481–2490. https://doi.org/10.1016/J.ENPOL.2006.08.019
  59. Mutumba, G. S., Odongo, T., Okurut, N. F., & Bagire, V. (2021). A survey of literature on energy consumption and economic growth. Energy Reports, 7, 9150–9239. https://doi.org/10.1016/j.egyr.2021.10.107
  60. Nagmi, A., & Serkan, D. (2021). Toda-Yamamoto causality test between energy consumption and Economic growth: Evidence from a panel of middle eastern. Journal of Empirical Economics and Social Sciences, 3(1), 56-78. https://doi.org/10.46959/jeess.651976
  61. Narayan, P. K., & Smyth, R. (2008). Energy consumption and real GDP in G7 countries: New evidence from panel cointegration with structural breaks. Energy Economics, 30(5), 2331–2341. https://doi.org/10.1016/j.eneco.2007.10.006
  62. Narayan, S., & Doytch, N. (2017). An investigation of renewable and non-renewable energy consumption and economic growth nexus using industrial and residential energy consumption. Energy Economics, 68, 160–176. https://doi.org/10.1016/J.ENECO.2017.09.005
  63. Nepal, R., & Paija, N. (2019). A multivariate time series analysis of energy consumption, real output and pollutant emissions in a developing economy: New evidence from Nepal. Economic Modelling, 77, 164–173. https://doi.org/10.1016/j.econmod.2018.05.023
  64. Odhiambo, N. (2009). Energy consumption and economic growth nexus in Tanzania: An ARDL bounds testing approach. Energy Policy, 37(2), 617–622. https://econpapers.repec.org/RePEc:eee:enepol:v:37:y:2009:i:2:p:617-622
  65. Odhiambo, N. (2021). Energy consumption and economic growth in Botswana: empirical evidence from a disaggregated data. International Review of Applied Economics, 35(1), 3–24. https://econpapers.repec.org/RePEc:taf:irapec:v:35:y:2021:i:1:p:3-24
  66. Odhiambo, N. M. (2014). Energy Dependence in Developing Countries: Does the Level of Income Matter? Atlantic Economic Journal, 42(1), 65–77. https://doi.org/10.1007/s11293-013-9402-2
  67. Okoye, L. U., Omankhanlen, A. E., Okoh, J. I., Adeleye, N. B., Ezeji, F. N., Ezu, G. K., & Ehikioya, B. I. (2020). Analyzing the energy consumption and economic growth nexus in nigeria. International Journal of Energy Economics and Policy, 11(1), 378–387. https://doi.org/10.32479/ijeep.10768
  68. Omri, A. (2013). CO2 emissions, energy consumption and economic growth nexus in MENA countries: Evidence from simultaneous equations models. Energy Economics, 40, 657–664. https://doi.org/10.1016/j.eneco.2013.09.003
  69. Omri, A., & Kahouli, B. (2014). The nexus among foreign investment, domestic capital and economic growth: Empirical evidence from the MENA region. Research in Economics, 68(3), 257–263. https://doi.org/10.1016/j.rie.2013.11.001
  70. Orhan, A., Ince, M. R., & Acik, A. (2020). Asymmetric Causality Relationship between Energy Consumption and Economic Growth: Sample of Selected Turkish Republics. JOEEP: Journal of Emerging Economies and Policy, 5(2), 61–74. https://dergipark.org.tr/en/pub/joeep/issue/55982/778946
  71. Ouyang, Y., & Li, P. (2018). On the nexus of financial development, economic growth, and energy consumption in China: New perspective from a GMM panel VAR approach. Energy Economics, 71, 238–252. https://doi.org/10.1016/J.ENECO.2018.02.015
  72. Ozturk, I., & Acaravci, A. (2010). The causal relationship between energy consumption and GDP in Albania, Bulgaria, Hungary and Romania: Evidence from ARDL bound testing approach. Applied Energy, 87(6), 1938–1943. https://doi.org/10.1016/j.apenergy.2009.10.010
  73. Payne, J. E. (2011). US Disaggregate Fossil Fuel Consumption and Real GDP: An Empirical Note. Energy Sources, Part B: Economics, Planning, and Policy, 6(1), 63–68. https://doi.org/10.1080/15567240902839278
  74. Phillips, P. C. B., & Moon, H. R. (1999). Linear regression limit theory for nonstationary panel data. Econometrica, 67(5), 1057–1111
  75. PHILLIPS, P. C. B., & PERRON, P. (1988). Testing for a unit root in time series regression. Biometrika, 75(2), 335–346. https://doi.org/10.1093/biomet/75.2.335
  76. Piłatowska, M., & Geise, A. (2021). Impact of Clean Energy on CO2 Emissions and Economic Growth within the Phases of Renewables Diffusion in Selected European Countries. Energies, 14(4). https://doi.org/10.3390/en14040812
  77. Ren, S., Yuan, B., Ma, X., & Chen, X. (2014). International trade, FDI (foreign direct investment) and embodied CO2 emissions: a case study of Chinas industrial sectors. China Economic Review, 28, 123–134. https://doi.org/10.1016/j.chieco.2014.01.003
  78. Romero, J. P., & Gramkow, C. (2021). Economic complexity and greenhouse gas emissions. World Development, 139, 105317. https://doi.org/10.1016/j.worlddev.2020.105317
  79. Saboori, B., Sapri, M., & bin Baba, M. (2014). Economic growth, energy consumption and CO2 emissions in OECD (Organization for Economic Co-operation and Development)’s transport sector: A fully modified bi-directional relationship approach. Energy, 66, 150–161. https://doi.org/10.1016/j.energy.2013.12.048
  80. Saidi, K., & Hammami, S. (2015). The impact of CO2 emissions and economic growth on energy consumption in 58 countries. Energy Reports, 1, 62–70. https://doi.org/10.1016/j.egyr.2015.01.003
  81. Salahuddin, M., Gow, J., & Ozturk, I. (2015). Is the long-run relationship between economic growth, electricity consumption, carbon dioxide emissions and financial development in Gulf Cooperation Council Countries robust? Renewable and Sustainable Energy Reviews, 51, 317–326. https://doi.org/10.1016/j.rser.2015.06.005
  82. Salari, M., Javid, R. J., & Noghanibehambari, H. (2021). The nexus between CO2 emissions, energy consumption, and economic growth in the U.S. Economic Analysis and Policy, 69, 182–194. https://doi.org/10.1016/j.eap.2020.12.007
  83. Sbia, R., Shahbaz, M., & Hamdi, H. (2014). A contribution of foreign direct investment, clean energy, trade openness, carbon emissions and economic growth to energy demand in UAE. Economic Modelling, 36, 191–197. https://doi.org/10.1016/j.econmod.2013.09.047
  84. Sebri, M., & Ben-Salha, O. (2014). On the causal dynamics between economic growth, renewable energy consumption, CO2 emissions and trade openness: Fresh evidence from BRICS countries. Renewable and Sustainable Energy Reviews, 39, 14–23. https://doi.org/10.1016/j.rser.2014.07.033
  85. Shahbaz, M., Khan, S., & Tahir, M. I. (2013). The dynamic links between energy consumption, economic growth, financial development and trade in China: fresh evidence from multivariate framework analysis. Energy Economics, 40, 8–21. https://doi.org/10.1016/j.eneco.2013.06.006
  86. Shahbaz, M., Lahiani, A., & Sinha, A. (2020). Renewable Energy Consumption , Income , CO2 Emissions and Oil Prices in G7 Countries : The Importance of Asymmetries. Journal of Energy and Development , 43(12), 157-191. https://mpra.ub.uni-muenchen.de/102895/
  87. Shahbaz, M., & Lean, H. H. (2012). Does financial development increase energy consumption? The role of industrialization and urbanization in Tunisia. Energy Policy, 40, 473–479. https://doi.org/10.1016/j.enpol.2011.10.050
  88. Shahbaz, M., Zakaria, M., Shahzad, S. J. H., & Mahalik, M. K. (2018). The energy consumption and economic growth nexus in top ten energy-consuming countries: Fresh evidence from using the quantile-on-quantile approach. Energy Economics, 71, 282–301. https://doi.org/10.1016/J.ENECO.2018.02.023
  89. Shojaee, A. A., & Seyedin, S. H. (2021). Relationship Between Energy Consumption and Economic Growth in Europe Area. Journal of Multidisciplinary Engineering Science and Technology, 8(6), https://www.jmest.org/wp-content/uploads/JMESTN42353814.pdf
  90. Singh, K., & Vashishtha, S. (2020). Does Any Relationship between Energy Consumption and Economic Growth Exist in India? A VAR Model Analysis. OPEC Eergy Review, 44(3), 334-347. https://doi.org/10.1111/opec.12185
  91. Song, P., Wang, P. P., Zhang, B., Zhang, X., & Zong, X. (2021). Complexity economic indexes for the energy market: Evidence during extreme global changes. Energy Economics, 96, 105148. https://doi.org/10.1016/J.ENECO.2021.105148
  92. Soytas, U., & Sari, R. (2009). Energy consumption, economic growth, and carbon emissions: Challenges faced by an EU candidate member. Ecological Economics, 68(6), 1667–1675. https://doi.org/10.1016/J.ECOLECON.2007.06.014
  93. Soytas, U., Sari, R., & Ozdemir, O. (2001). Energy consumption and GDP relation in Turkey: a cointegration and vector error correction analysis. Economies and Business in Transition: Facilitating Competitiveness and Change in the Global Environment Proceedings, 1, 838–844. https://hdl.handle.net/11511/70971
  94. Stern, D. (1993). Energy and economic growth in the USA: A multivariate approach. Energy Economics, 15(2), 137–150. https://doi.org/10.1016/0140-9883(93)90033-N
  95. Stern, D. (2010). The Role of Energy in Economic Growth (CCEP Working Papers). Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University. https://econpapers.repec.org/RePEc:een:ccepwp:0310
  96. Sunde, T. (2020). Energy consumption and economic growth modelling in SADC countries: an application of the VAR Granger causality analysis. International Journal of Energy Technology and Policy, 16(1), 41–56. https://econpapers.repec.org/RePEc:ids:ijetpo:v:16:y:2020:i:1:p:41-56
  97. Tiwari, A. K., Eapen, L. M., & Nair, S. R. (2021). Electricity consumption and economic growth at the state and sectoral level in India: Evidence using heterogeneous panel data methods. Energy Economics, 94, 105064. https://doi.org/10.1016/J.ENECO.2020.105064
  98. Tsani, S. Z. (2010). Energy consumption and economic growth: A causality analysis for Greece. Energy Economics, 32(3). https://doi.org/10.1016/j.eneco.2009.09.007
  99. Tugcu, C. T., & Topcu, M. (2018). Total, renewable and non-renewable energy consumption and economic growth: Revisiting the issue with an asymmetric point of view. Energy, 152, 64–74. https://doi.org/10.1016/j.energy.2018.03.128
  100. Wang, S. S., Zhou, D. Q., Zhou, P., & Wang, Q. W. (2011). CO2 emissions, energy consumption and economic growth in China: A panel data analysis. Energy Policy, 39(9), 4870–4875. https://doi.org/10.1016/j.enpol.2011.06.032
  101. Wesseh, P. K., & Zoumara, B. (2012). Causal independence between energy consumption and economic growth in Liberia: Evidence from a non-parametric bootstrapped causality test. Energy Policy, 50, 518–527. https://doi.org/10.1016/j.enpol.2012.07.053
  102. Wolde-Rufael, Y. (2009). Energy consumption and economic growth: The experience of African countries revisited. Energy Economics, 31(2), 217–224. https://econpapers.repec.org/RePEc:eee:eneeco:v:31:y:2009:i:2:p:217-224
  103. Yang, M., Kim, J., & Al-Silefanee, R. (2020). Revisiting the Relation between Renewable Electricity and Economic Growth: A Renewable–Growth Hypothesis. Sustainability 2020, Vol. 12, Page 3121, 12(8), 3121. https://doi.org/10.3390/SU12083121
  104. Yıldırım, D. Ç., Yıldırım, S., & Demirtas, I. (2019). Investigating energy consumption and economic growth for BRICS-T countries. World Journal of Science, Technology and Sustainable Development, 16(4), 184–195. https://doi.org/10.1108/WJSTSD-12-2018-0063

Last update:

No citation recorded.

Last update: 2024-04-12 17:16:39

No citation recorded.