On The Relationship between Energy Consumption and Real GDP in Iran: An Application of VEC Model
Amir Mansor Tehranchian
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Amir Mansor Tehranchian: Assistant professor, faculty of economics, university of Mazandaran, Iran
Iranian Economic Review (IER), 2006, vol. 11, issue 2, 141-147
This paper examines the causal relationship between energy use and real GDP for the period 1967-2002 in Iran. The results of Phillips- Perron test indicate that the real GDP and the four categories of energy , i.e. coal, oil, gas, and hydroelectric energy are integrated of order one. Besides, the Johansen – Juselius maximum likelihood co- integration tests imply the existence of Granger causality. The VEC models that have been estimated to test the direction of Granger causality support a unidirectional causality from GDP to energy use in short run.
Keywords: Energy consumption; Economic growth; Granger causality; VEC model. (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eut:journl:v:11:y:2006:i:2:p:141
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