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| Baris Kablamaci |
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| ''A re-examination of causal relation between economic growth and energy consumption: Evidence from 91 countries'' |
| ( 2017, Vol. 37 No.2 ) |
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| This paper empirically examines the causal relationship between energy consumption and economic growth, by controlling with CO2 emission and economic globalization in multivariate models, in a sample of the 91 less developed, developing and developed countries individually, in the period of 1970-2013. I apply the Toda-Yamamoto augmented Granger non-causality testing procedure. I observe a significant unidirectional causality running from energy consumption to economic growth in twenty-one countries. In thirty-one countries, conservation hypothesis is valid. Empirical evidence also shows that there is a feedback hypothesis in sixteen countries and no causal relation in only twenty-three countries. |
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| Keywords: Energy consumption; economic growth; causality analysis |
JEL: O1 - Economic Development: General
Q4 - Energy: General |
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| Manuscript Received : Oct 28 2016 | | Manuscript Accepted : Apr 22 2017 |
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