Energy Consumption and Economic Growth:Parametric and Non-Parametric Causality Testing for the Case of Greece

Theologos Dergiades, Georgios Martinopoulos () and Lefteris Tsoulfidis ()
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Georgios Martinopoulos: International Hellenic University, http://www.ihu.edu.gr/

Discussion Paper Series from Department of Economics, University of Macedonia

Abstract: The objective of this paper is to contribute to the understanding of the linear and non-linear causal linkages between total energy consumption and economic activity, making use of annual time series of Greece for the period 1960-2008. Two are the salient features of our study: first, the total energy consumption has been adjusted for qualitative differences among its constituent components through the thermodynamics of energy conversion. In doing so, we rule out the possibility of a misleading inference due to aggregation bias. Second, the investigation of the causal linkage between economic growth and the adjusted for quality total energy consumption is conducted within a non-linear context. Our empirical results reveal significant unidirectional both linear and non-linear causal linkages running from total useful energy to economic growth. These findings may provide valuable information for the contemplation of more effective energy policies with respect to both the consumption of energy and environmental protection.

Keywords: Energy Consumption; Economic Growth; Non-linear causality. (search for similar items in EconPapers)
JEL-codes: C14 C22 Q43 Q48 (search for similar items in EconPapers)
Date: 2011-11, Revised 2011-11
New Economics Papers: this item is included in nep-ene
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Energy consumption and economic growth: Parametric and non-parametric causality testing for the case of Greece (2013)
Working Paper: Energy Consumption and Economic Growth: Parametric and Non-Parametric Causality Testing for the Case of Greece (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:mcd:mcddps:2011_16

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