Energy consumption-GDP nexus: Heterogeneous panel causality analysis
K. Ali Akkemik and
Energy Economics, 2012, vol. 34, issue 4, 865-873
Existing studies examining the Granger causality relationship between energy consumption and GDP use a panel of countries but implicitly assume that the panels are homogeneous. This paper extends the Granger causality relationship between energy consumption and GDP by taking into account panel heterogeneity. For this purpose, we use a large panel of 79 countries for the period 1980–2007. Specifically, we examine four different causal relationships: homogeneous non-causality, homogeneous causality, heterogeneous non-causality, and heterogeneous causality. The results show that roughly seven-tenths of the countries exhibit bi-directional Granger causality, two-tenths exhibit no Granger causality, and one-tenths exhibit uni-directional Granger causality.
Keywords: Energy; Granger causality; Heterogenous panel (search for similar items in EconPapers)
JEL-codes: C22 C23 Q49 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:34:y:2012:i:4:p:865-873
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