A Review of the Nexus between Energy Consumption and Economic Growth in the BRICS Countries

Hlalefang Khobai, Sanderson Abel and Pierre Le Roux
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Hlalefang Khobai: Department of Economics, Nelson Mandela Metropolitan University, South Africa and DST/NRF South Africa Research Chair in Industrial Development, University of Johannesburg, South Africa,
Sanderson Abel: Bankers Association of Zimbabwe, Zimbabwe,
Pierre Le Roux: Department of Economics, Nelson Mandela University, South Africa.

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 3, 424-431

Abstract: The study investigates the long run relationship and causal relationship between energy consumption and economic growth in the BRICS countries during the period 1990 2018. The Pedroni panel co-integration method is applied to analyse the co-integration relationship among the variables. The causality relationship among the variables is analysed using Pair-wise Granger-causality technique. The study s results reveal that there is a long run relationship between economic growth, energy consumption, employment and trade openness in Brics countries. The research outcome further detected a unidirectional causality flowing from economic growth to energy consumption. This implies that the conservation policies that curb unnecessary loss in energy could be implemented in the BRICS countries without adversely affecting economic growth.

Keywords: Energy consumption; Economic growth; Causality; BRICS countries (search for similar items in EconPapers)
JEL-codes: D04 Q01 Q42 Q47 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2021-03-52

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