Energy and Economic Effects of the COVID-19 Pandemic: Evidence from OECD Countries

Yugang He () and Ziqian Zhang
Additional contact information
Yugang He: College of Liberal Arts, Sejong University, Seoul 05006, Korea
Ziqian Zhang: Chinese Academy of Social Sciences, Beijing 100732, China

Sustainability, 2022, vol. 14, issue 19, 1-13

Abstract: The COVID-19 pandemic has caused disruption to the original order of the global economy and has had an influence on the social and economic growth of countries all over the globe. As a result, the aim of this paper is to explore the consequences of the COVID-19 pandemic on a sample of OECD countries with regard to energy and the economy. For empirical investigation, data from the first quarter of 2010 to the first quarter of 2022 are used, and the system generalized method of moments is applied. The findings reveal that during the COVID-19 pandemic, energy consumption impeded economic growth while economic expansion was the primary driver of energy resource consumption. Furthermore, an examination of heterogeneous effects reveals that economic growth and energy consumption are heterogeneous both before and after the COVID-19 pandemic. To conclude, these findings might provide a contribution to the body of research that has already been undertaken on this subject.

Keywords: energy consumption; economic growth; system generalized method of moments; heterogeneous effects; COVID-19 pandemic (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/14/19/12043/pdf (application/pdf)
https://www.mdpi.com/2071-1050/14/19/12043/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:19:p:12043-:d:923343

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().