A (negative) replication of ‘The relationship between energy consumption, energy prices, and economic growth: Time series evidence from Asian developing countries’ (Energy Economics, 2000)

Janelle Mann and Peter Sephton ()

Energy Economics, 2019, vol. 82, issue C, 78-84

Abstract: This paper replicates Asafu-Adjaye (2000) which employs unit root and cointegration tests together with error correction models to investigate the relationships between energy consumption and income for four energy-dependent Asian developing countries using data from 1971 through 1995. This paper finds not only that the results cannot be replicated, but that the results are not robust to alternative estimation procedures that include the simulation of finite sample critical values and the extension to panel unit root, stationarity and cointegration tests which are necessary to improve upon the power properties of the short time series employed by Asafu-Adjaye (2000). The results from the extension of the analysis to more modern time series techniques disprove the original paper's results, with panel cointegration tests finding that the trivariate system (income, energy consumption, and prices) does not follow a long run relationship for India, Indonesia, Thailand, and the Philippines.

Keywords: Energy consumption; Economic growth; Negative replication; Finite sample critical values; Panel cointegration (search for similar items in EconPapers)
JEL-codes: C22 C32 Q43 Q48 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:82:y:2019:i:c:p:78-84

DOI: 10.1016/j.eneco.2018.05.005

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