Revisiting Energy-GDP Nexus for the Selected Countries of the Middle East Region

Eisa Maboudian () and Khashayar Seyyed Shokri
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Eisa Maboudian: Department of Economics, Islamic Azad University (Central Tehran Branch),Tehran, Iran.
Khashayar Seyyed Shokri: Department of Economics, Islamic Azad University (Central Tehran Branch),Tehran, Iran.

Iranian Economic Review (IER), 2014, vol. 18, issue 3, 103-113

Abstract: This paper investigates the relationship between total energy consumption and GDP in six countries of the Middle East, including Iran,Pakistan,Saudi Arabia,Oman,Bahrain and the United Arab Emirates. The data are annual and spanning the period 19802012. We employed Hsiao’s (1981) methodology to examine causality relation between total energy consumption and GDP.The empirical findings show a unidirectional causality relation between total energy consumption and GDP for Iran running from energy to GDP,and supports the growth hypothesis for Iran. For Saudi Arabia there is a unidirectional causality running from GDP to total energy consumption. Therefore we can accept conservation hypothesis about Saudi Arabia.There is bidirectional causality relation for other countries which support the feedback hypothesis about them.

Keywords: Energy consumption; GDP; Middle East; Causality relation. (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eut:journl:v:18:y:2014:i:3:p:103

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