Matei, Iuliana (2016) The Link between Energy Consumption and Economic Growth: Empirical Evidence for Black Sea Countries. British Journal of Economics, Management & Trade, 14 (1). pp. 1-8. ISSN 2278098X
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Abstract
The aim of this paper is to investigate the energy consumption-economic growth nexus for 7 Black Sea countries for the period 1990-2012. By using panel data techniques, findings show that increases in real per capita GDP have a positive and statistically significant effect on per capita energy consumption (and vice-versa). In the long term, a 1% increase in real per capita GDP increases energy consumption per capita by a value between 0.63% and 0.64% while a 1% increase in per capita energy use increases the real per capita GDP by a value between 1.02% and 1.03%. Thus, the impact of real GDP on energy consumption is less important than vice versa. All these outcomes should be taken as evidence that energy appears as a key input in the production function. Furthermore, energy saving policy and efficiency improvement appear to have both a favorable influence on the GDP growth.
Item Type: | Article |
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Subjects: | Eprints STM archive > Social Sciences and Humanities |
Depositing User: | Unnamed user with email admin@eprints.stmarchive |
Date Deposited: | 16 Jun 2023 11:53 |
Last Modified: | 16 Jan 2024 05:02 |
URI: | http://public.paper4promo.com/id/eprint/495 |