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A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An Empirical Investigation

Chun-Yu Ho () and Kam Wing Siu ()
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Kam Wing Siu: Boston University, Department of Economics

No WP2006-049, Boston University - Department of Economics - Working Papers Series from Boston University - Department of Economics

Abstract: Public debates on electricity policy in Hong Kong focus on the regulation regime but sel- dom discuss the macroeconomic impact. In this paper, we use the novel dataset on electricity consumption and report the following ?ndings: (1) there is a long run equilibrium relationship between real GDP and electricity consumption, (2) a one-way causal e¤ect exists from electric- ity consumption to real GDP, (3) a signi?cant adjustment process occurs when equilibrium is interrupted, (4) there exists possible structural change in the relationship between electricity consumption and economic activities in 1990s.

Keywords: Cointegration and error correction; electricity; Hong Kong. (search for similar items in EconPapers)
JEL-codes: Q41 Q43 Q48 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2006-09
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