Does Energy Efficiency Promote Economic Growth?

• Tác giả: Ashish Rajbhandari
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.9 Economic development and growth
• Thông tin xuất bản: Elsevier, 2018
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 305875
• Chủ đề: 1. CLIMATE IMPACT; 2. ECONOMIC GROWTH; 3. ENERGY EFFICIENCY; 4. GRANGER CAUSALITY; 5. GROWTH DIVIDEND

Tóm tắt

We examine the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income economies from 1978 to 2012. Using a panel vector autoregression approach, we find evidence of a long-run Granger causality from economic growth to lower energy intensity for all economies. We also find evidence of long-run bidirectional causality between lower energy intensity and higher economic growth for middle-income economies. This finding suggests that beyond climate benefits, middle-income economies may also earn an extra growth dividend from energy efficiency measures.