Electricity Consumption and Economic Growth: A Time-Series Study on Pakistan

Raza Muhammad Khan, Sohail Farooq and Muhammad Akram Gilal
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Raza Muhammad Khan: Teaching Asistant, Department of Economics,Hazara University, Mansehra, KP, Pakistan.
Sohail Farooq: Assistant Professor,Department of Economics,Hazara University, Mansehra, KP, Pakistan.
Muhammad Akram Gilal: Associate Professor,Department of Economics,University of Sindh, Jamshoro, Sindh, Pakistan.

Global Economics Review, 2020, vol. 5, issue 1, 24-37

Abstract: In Socio-Economic development, the role of energy is very crucial, and often its consumption indicates the level of economic development and is considered as a vital ingredient of sustainable economic growth. Electricity as a key input variable plays a supreme role in the process of industrialization (IND), Economic growth (GDP) as well as technological progress (TEC) of a country. By utilizing time-series data from 1975 up to 2017, the study attempted to examine the nexus between EC and GDP of Pakistan in the Cobb Douglas production function framework. The study results reveal that EC, labor force, capital stocks, and technology, have positively and significantly affect Pakistans GDP growth. The study concluded and recommended that economic performance cannot be improved in the absence of continuous usage of electricity. Therefore, to achieve the desired economic growth path, uninterrupted electricity consumption is pivotal.

Keywords: Economic Growth; Electricity Usage; Industrialization. (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aaw:journl:v:5:y:2020:i:1:p:24-37

DOI: 10.31703/ger.2020(V-I).03

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