Energy Consumption and Economic Growth: Econometric Analysis for NIC Countries

Fatma Kizilkaya and Mehmet Dag
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Fatma Kizilkaya: Hakkari University
Mehmet Dag: Siirt University

Business and Economics Research Journal, 2019, vol. 10, issue 3, 587-596

Abstract: Energy is considered a necessary and important input for social and economic development. Growth and energy consumption can cause each other. In this study, the causality relationship between energy consumption and growth in Newly Industrialized Countries (NIC) is analysed using annual data from the period 1971-2014. In this study, firstly the cross-sectional dependence of the series is investigated. The findings show that there is cross-sectional dependence in the series. Then the causality relationship between the series is examined using bootstrap causality test developed by Konya (2006). The results show that the neutrality hypothesis is valid for Brazil, Indonesia, India, Mexico, Malaysia, Thailand, Turkey and South Africa, and the growth hypothesis is valid for China and Philippines.

Keywords: Growth Hypothesis; Neutrality Hypothesis; Energy Consumption; Growth; Bootstrap Causality (search for similar items in EconPapers)
JEL-codes: C33 O40 Q40 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ris:buecrj:0409

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