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Multivariate granger causality between electricity consumption, exports and GDP : Evidence from a panel of Middle Eastern countries

Narayan, Paresh and Smyth, Russell 2009, Multivariate granger causality between electricity consumption, exports and GDP : Evidence from a panel of Middle Eastern countries, Energy policy, vol. 37, no. 1, pp. 229-236.

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Title Multivariate granger causality between electricity consumption, exports and GDP : Evidence from a panel of Middle Eastern countries
Author(s) Narayan, Paresh
Smyth, Russell
Journal name Energy policy
Volume number 37
Issue number 1
Start page 229
End page 236
Publisher Elsevier Ltd.
Place of publication Amsterdam, The Netherlands
Publication date 2009-01
ISSN 0301-4215
1873-6777
Keyword(s) electricity
Middle East
causality
Summary This paper examines the causal relationship between electricity consumption, exports and gross domestic product (GDP) for a panel of Middle Eastern countries. We find that for the panel as a whole there are statistically significant feedback effects between these variables. A 1 per cent increase in electricity consumption increases GDP by 0.04 per cent, a 1 per cent increase in exports increases GDP by 0.17 per cent and a 1 per cent increase in GDP generates a 0.95 per cent increase in electricity consumption. The policy implications are that for the panel as a whole these countries should invest in electricity infrastructure and step up electricity conservation policies to avoid a reduction in electricity consumption adversely affecting economic growth. Further policy implications are that for the panel as a whole promoting exports, particularly non-oil exports, is a means to promote economic growth and that expansion of exports can be realized without having adverse effects on energy conservation policies.
Language eng
Field of Research 140299 Applied Economics not elsewhere classified
Socio Economic Objective 859999 Energy not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2008, Elsevier Ltd.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022724

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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