Energy consumption and economic growth nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL bounds test approach (1965–2009)
José Fuinhas () and
António Marques ()
Energy Economics, 2012, vol. 34, issue 2, 511-517
The paper examines the nexus between primary energy consumption and growth in Portugal, Italy, Greece, Spain and Turkey (PIGST), with annual time series data, from 1965 to 2009. PIGST are southern European economies which have experienced several episodes that make them of particular interest to the study of periods of economic expansion and stagnation. An ARDL bounds test approach is a suitable technique to examine energy-growth nexus, within the context of countries with both sporadic shocks (outliers) and permanent shocks (structural breaks). Empirical results suggest bidirectional causality between energy and growth in both the long-run and short-run, supporting the feedback hypothesis. The results reveal themselves to be robust to panel framework. An energy conservation policy will reduce GDP growth, while a saving phenomenon is observed, since one additional unit of product requires less than one unit of energy.
Keywords: ARDL bounds test; Short and long-run elasticities; Energy-growth nexus; PIGST (search for similar items in EconPapers)
JEL-codes: C22 C23 Q43 O52 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (68) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:34:y:2012:i:2:p:511-517
Access Statistics for this article
Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant
More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().