The Relationship between Electricity Consumption and Economic Growth in BRICS Countries

Heru Wahyudi
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Heru Wahyudi: University of Lampung, Bandar Lampung, Indonesia.

International Journal of Energy Economics and Policy, 2024, vol. 14, issue 2, 349-356

Abstract: This study analyzed the Gross Domestic Product (GDP) determinants in Brazil, Russia, India, China, and South Africa (BRICS). The method used in this study is a Fully Modified Ordinary Least Square (FMOLS) panel that can overcome the problem of non-stationary panels and the effect of heterogeneity between countries. The analysis range of this study is from 1992 to 2021, with three independent variables, namely electrical energy consumption, labor force, and gross fixed capital formation (GFCF) or investment. The results showed a significant favorable influence on energy consumption, labor force, and investment in GDP in BRICS countries from 1992 to 2021. This research resulted in a review of one of the policy recommendations to improve the economy in BRICS countries.

Keywords: Electrical Energy; FMOLS; GDP; Investment; Labor Force (search for similar items in EconPapers)
JEL-codes: E01 E22 P48 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2024-02-35

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