Energy consumption and economic growth: New evidence from the OECD countries

Giray Gozgor, Chi Keung Lau, Zhou Lu

Research output: Contribution to journalArticle

34 Citations (Scopus)

Abstract

This paper introduces a growth model that considers the indicator of economic complexity as a measure of capabilities for exporting the high value-added (sophisticated) products. Empirically, the paper analyzes the effects of the renewable and the non-renewable energy consumption on the economic growth in the panel data of 29 Organization for Economic Co-operation and Development (OECD) countries for the period from 1990 to 2013. For this purpose, the paper considers the panel autoregressive distributed lag (ARDL) and the panel quantile regression (PQR) estimations. The paper finds that not only the economic complexity, but also both the non-renewable and the renewable energy consumption are positively associated with a higher rate of economic growth.
LanguageEnglish
Pages27-34
Number of pages8
JournalEnergy
Volume153
Early online date6 Apr 2018
DOIs
Publication statusPublished - 15 Jun 2018

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Energy utilization
Economics
Economic cooperation
Consumption growth
Energy economics
Co-development
Energy consumption
Economic growth
Growth model
Renewable energy
Value added
Panel data
Exporting
Quantile regression
Distributed lag

Cite this

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title = "Energy consumption and economic growth: New evidence from the OECD countries",
abstract = "This paper introduces a growth model that considers the indicator of economic complexity as a measure of capabilities for exporting the high value-added (sophisticated) products. Empirically, the paper analyzes the effects of the renewable and the non-renewable energy consumption on the economic growth in the panel data of 29 Organization for Economic Co-operation and Development (OECD) countries for the period from 1990 to 2013. For this purpose, the paper considers the panel autoregressive distributed lag (ARDL) and the panel quantile regression (PQR) estimations. The paper finds that not only the economic complexity, but also both the non-renewable and the renewable energy consumption are positively associated with a higher rate of economic growth.",
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author = "Giray Gozgor and Lau, {Chi Keung} and Zhou Lu",
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Energy consumption and economic growth : New evidence from the OECD countries. / Gozgor, Giray; Lau, Chi Keung; Lu, Zhou.

In: Energy, Vol. 153, 15.06.2018, p. 27-34.

Research output: Contribution to journalArticle

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T2 - Energy

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AU - Lau, Chi Keung

AU - Lu, Zhou

PY - 2018/6/15

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N2 - This paper introduces a growth model that considers the indicator of economic complexity as a measure of capabilities for exporting the high value-added (sophisticated) products. Empirically, the paper analyzes the effects of the renewable and the non-renewable energy consumption on the economic growth in the panel data of 29 Organization for Economic Co-operation and Development (OECD) countries for the period from 1990 to 2013. For this purpose, the paper considers the panel autoregressive distributed lag (ARDL) and the panel quantile regression (PQR) estimations. The paper finds that not only the economic complexity, but also both the non-renewable and the renewable energy consumption are positively associated with a higher rate of economic growth.

AB - This paper introduces a growth model that considers the indicator of economic complexity as a measure of capabilities for exporting the high value-added (sophisticated) products. Empirically, the paper analyzes the effects of the renewable and the non-renewable energy consumption on the economic growth in the panel data of 29 Organization for Economic Co-operation and Development (OECD) countries for the period from 1990 to 2013. For this purpose, the paper considers the panel autoregressive distributed lag (ARDL) and the panel quantile regression (PQR) estimations. The paper finds that not only the economic complexity, but also both the non-renewable and the renewable energy consumption are positively associated with a higher rate of economic growth.

KW - energy consumption

KW - economic growth

KW - energy-growth nexus

KW - economic complexity

KW - panel ARDL model

KW - panel quantile regression

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