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The Effect of Energy Consumption on Economic Growth in Jordan

Muath Al-Khawaldeh and Ali Mustafa Al-Qudah ()

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2018, vol. 8, issue 2, 170-177

Abstract: This study examined the effect of energy consumption represented by electric and oil energy on economic growth in Jordan for the period of time (1992-2016). The study used the multiple linear regression model to test the hypothesis of the study. The study concluded that the energy consumption in general has a statistically significant effect on economic growth in Jordan, and the study found that the consumption of electric power has a positive and statistically significant impact on economic growth in Jordan, i.e., the increase in consumption of electric power by 1% leads to an increase in economic growth by 1.870686% .The results also showed that oil consumption has a positive and statistically significant impact on the economic growth in Jordan, where the increase of 1% of oil consumption leads to an increase in economic growth by 1.969848%. The study reached a number of recommendations, the most important of which is increasing interest in the energy sector by investing in it and using the best technologies to maintain the positive energy effect on economic growth and work to improve it.

Keywords: Economic growth; energy consumption; Jordan (search for similar items in EconPapers)
Date: 2018
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