THE ANALYSIS OF THE CORRELATION BETWEEN THE GROSS DOMESTIC PRODUCT AND THE FINAL ENERGY CONSUMPTION

Viorel Florin Gilca

Romanian Statistical Review Supplement, 2016, vol. 64, issue 4, 29-36

Abstract: The aim of this study is to analyze the correlation between the Gross Domestic Product of Romania and the annual Final Energy Consumption in the period 2000 – 2011. For the analysis of this correlation we used a simple linear regression model taking the Gross Domestic Product as an endogenous variable (dependent variable) and the Final Energy Consumption as an explanatory variable (independent variable). The Gross Domestic Product is one of the most important macroeconomic indicators and reflects the synthetic expression of the results of all economic activities produced in a country over a year. Thus, the Gross Domestic Product represents the total value of all goods and services for final consumption, produced in all branches of the economy, that have a monetary value.

Keywords: Gross Domestic Product; consumption; correlation; energy; regression (search for similar items in EconPapers)
Date: 2016
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