Economic Growth and Energy Consumption in Post-Communist Countries: a Bootstrap Panel Granger Causality Analysis
DOI:
https://doi.org/10.12775/DEM.2013.003Keywords
energy consumption, economic growth, bootstrap panel Granger causality test, energy efficiencyAbstract
The aim of this paper is to identify Granger causality between energy consumption and economic growth in post-communist countries in the period 1993 to 2011. Bootstrap panel Granger causality test was used as a research tool in order to accommodate for countryspecific heterogeneity and to avoid the problem of cross-sectional dependence. The analysis allowed for the verification of the hypothesis regarding the links between economic growth and energy consumption in nine countries. The hypotheses were confirmed: the growth hypothesis in three countries and the feedback hypothesis in one country.
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