Energy consumption and economic growth: Evidence from Cameroon

Yris Fondja Wandji ()
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Yris Fondja Wandji: AgroParisTech

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Abstract: The aim of this paper is to study the nature of the relationship between energy consumption and economic growth in Cameroon through a three-step approach: (i) Study the stationarity of the chronic, (ii) test of causality between variables and (iii) estimate the appropriate model. The study concludes in a non-stationarity of the series. Using the data in first difference, the Granger causality test yields a strong evidence for unidirectional causality running from OIL to GDP. Cointegration tests also show that these two series are co-integrated and the Error Correction Model (ECM) reveals that every percentage increase in Oil products consumption increases economic growth by around 1.1%. This result confirms the intuition that an economic policy aimed at improving energy supply will necessarily have a positive impact on economic growth. On the other side, a lack of energy is a major bottleneck for further economic development in Cameroon.

Date: 2013-10
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Published in Energy Policy, 2013, 61, pp.1295-1304. ⟨10.1016/j.enpol.2013.05.115⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04429167

DOI: 10.1016/j.enpol.2013.05.115

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