Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model
This study examines the relationship between energy consumption and economic growth for a panel of nine South American countries over the period 1980–2005 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is emp...
| Main Authors: | , |
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| Format: | Journal Article |
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Elsevier
2010
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| Online Access: | http://hdl.handle.net/20.500.11937/33237 |
| _version_ | 1848753889284718592 |
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| author | Apergis, Nicholas Payne, J. |
| author_facet | Apergis, Nicholas Payne, J. |
| author_sort | Apergis, Nicholas |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This study examines the relationship between energy consumption and economic growth for a panel of nine South American countries over the period 1980–2005 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. Pedroni's heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, energy consumption, the labor force, and real gross fixed capital formation with the respective coefficients positive and statistically significant. The Granger-causality results indicate both short-run and long-run causality from energy consumption to economic growth which supports the growth hypothesis. |
| first_indexed | 2025-11-14T08:31:41Z |
| format | Journal Article |
| id | curtin-20.500.11937-33237 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:31:41Z |
| publishDate | 2010 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-332372017-09-13T15:28:02Z Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model Apergis, Nicholas Payne, J. Panel unit root and cointegration tests Growth Granger-causality Energy consumption This study examines the relationship between energy consumption and economic growth for a panel of nine South American countries over the period 1980–2005 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. Pedroni's heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, energy consumption, the labor force, and real gross fixed capital formation with the respective coefficients positive and statistically significant. The Granger-causality results indicate both short-run and long-run causality from energy consumption to economic growth which supports the growth hypothesis. 2010 Journal Article http://hdl.handle.net/20.500.11937/33237 10.1016/j.eneco.2010.04.006 Elsevier restricted |
| spellingShingle | Panel unit root and cointegration tests Growth Granger-causality Energy consumption Apergis, Nicholas Payne, J. Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title | Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title_full | Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title_fullStr | Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title_full_unstemmed | Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title_short | Energy Consumption and Growth in South America: Evidence From a Panel Error Correction Model |
| title_sort | energy consumption and growth in south america: evidence from a panel error correction model |
| topic | Panel unit root and cointegration tests Growth Granger-causality Energy consumption |
| url | http://hdl.handle.net/20.500.11937/33237 |