Mean Reverting Behavior of Energy Consumption: Evidence from Selected MENA Countries

Suleyman Bolat, Murat Belke and Necati Celik
Additional contact information
Suleyman Bolat: Cumhuriyet University, Department of Public Finance, Sivas, Turkey
Murat Belke: Akdeniz University, Department of Economics, Antalya, Turkey
Necati Celik: University of Utah, Department of Economics, Salt Lake City, UT, USA

International Journal of Energy Economics and Policy, 2013, vol. 3, issue 4, 315 - 320

Abstract: This study examines whether the energy consumption for 15 members of the Middle Eastern & North African (MENA) countries is a stationary process over 1971-2010 period. Annual energy consumption data for Algeria, Bahrain, Egypt, Iran, Israel, Jordan, Lebanon, Libya, Morocco, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Turkey, is analyzed using the Lagrange Multiplier (LM) unit root test, in which structural breaks in level and/or trend are endogenously determined. The results of the LM test with two breaks showed that the energy consumption per capita in 8 MENA countries is a stationary process. This study suggests that it is possible to design consistent energy policies based on econometric models and forecasts of energy consumption in those 8 MENA countries.

Keywords: Energy Consumption; Unit Root; LM test; MENA (search for similar items in EconPapers)
JEL-codes: E21 Q43 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://www.econjournals.com/index.php/ijeep/article/download/527/303 (application/pdf)
http://www.econjournals.com/index.php/ijeep/article/view/527/303 (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:eco:journ2:2013-04-16

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().