Energy Consumption and Economic Growth: Evidence from Post-Communist Countries

Uktam Umurzakov, Bakhodir Mirzaev, Raufhon Salahodjaev, Arletta Isaeva and Shakhnoza Tosheva
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Uktam Umurzakov: Tashkent Institute of Irrigation and Agricultural Mechanization Engineers, Uzbekistan
Bakhodir Mirzaev: Tashkent Institute of Irrigation and Agricultural Mechanization Engineers, Uzbekistan
Shakhnoza Tosheva: ERGO Analytics, Uzbekistan.

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 6, 59-65

Abstract: Current study aimed to explore the nexus between energy and economic growth in post-communist nations during 1995-2014. As an empirical model, the growth model is employed including economic complexity indicator as a measure of capabilities for exporting sophisticated products. We employ Pedroni's (1999) panel cointegration tests and Panel Dynamic OLS estimation to assess the long-term link between the variables. At 1% significance level, we confirm cointegration between energy consumption and economic growth. Panel Dynamic OLS results revealed that economic growth positively influences energy consumption in Post-Communist states. The Dumotrescu and Hurlin (2012) panel Granger causality test results discovered unidirectional causality running from economic growth to energy consumption. Economic growth causes energy consumption in post-communistic countries, confirming the conservation hypothesis.

Keywords: energy; growth; Post-Communist (search for similar items in EconPapers)
JEL-codes: C23 O47 Q40 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (9)

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