A literature survey on energy–growth nexus

A meta-analysis on the price elasticity of energy demand

The aim of this study is to exhibit an exhaustive survey which is related to the great flight of the literature of energy- environment-growth nexus at the individual and regional scale studies covering the period from 1978 to 2014. The survey takes into consideration the sample (country, region, etc.), periods covering, econometric strategies, and conclusions. Our survey is based on the causality direction among (i) the energy use variables (electricity, nuclear, renewable and non-renewable) and output growth; (ii) between economic growth and environment; and between the three variables at the same time. Globally, these surveys provide paradoxical and not conclusive results which energy consumption can boost economic growth through the productivity enhancement and it can boost also the environmental damages through the enhancement of pollutant emissions. Our survey sheds more the lights on the energy-environment-growth literature by giving an extensive listing (1978–2014) of these causal linkages among the energy use variables, environment and economic growth for both individual and collective cases. There is a unanimous consensus about the importance of dealing with such dynamic relationship, which is seems to be a cornerstone element in setting any ambition strategies (energy, ecological and economics).

Literature survey on the relationships between energy, environment and economic growth

In this paper, an extensive review of the rapidly growing in the literature on the nexus between economic growth and four types of energy consumption: total energy consumption, electricity consumption, nuclear consumption, and renewable consumption. The various hypotheses associated with the causal interaction between these variables along with a survey of the empirical literature are also discussed. The survey focuses on country coverage, periods, modeling techniques, and empirical conclusions. A general observation from these studies that results are found to be sensitive to methodology and type of energy considered. The empirical results for the specific countries surveyed show that (i) for energy consumption-growth nexus: 29% supported the growth hypothesis, 27% the feedback hypothesis, 23% the conservation hypothesis, and 21% the neutrality hypothesis; (ii) for the electricity consumption-growth nexus: 40% supported the growth hypothesis, 33% the feedback hypothesis, and 27% conservation hypothesis; (iii) for the nuclear consumption-growth nexus: 60% supported the neutrality hypothesis, and 40% the growth hypothesis; and (iv) for the renewable consumption-growth nexus: 40% supported the neutrality hypothesis, 40% the conservation hypothesis, and 20% the growth hypothesis. These mixed results may be attributed to the different used data, selected variables, and econometric approaches undertaken.

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An international literature survey on energy-economic growth nexus: Evidence from country-specific studies

https://mpra.ub.uni-muenchen.de/33196/1/MPRA_paper_33196.pdf

The dynamics of electricity consumption and economic growth: A revisit study of their causality in Pakistan

Electricity consumption and economic growth in Jamaica

Recent studies of the impact of financial liberalization in emerging markets have not examined the dynamic impact of the liberalization process on equity returns despite the important implications on ongoing reform policies. We analyze six Asian equity markets using a dynamic adjustment model with three independent variables: market capitalization value, pricebook value ratio, and price‐earnings ratio. We use panel data for the period 1991‐2000 and the LSDVR (least square dummy variable regression) approach to identify the timing effects of liberalization. The stability of the model is also tested. The results indicate, in most cases, the significance of all three variables and the timing effects. Evidence of significant structural changes is also supported.

Harridutt Ramcharran

Papers

Electricity consumption and economic growth in Jamaica

Estimating the Dynamic Impact of Financial Liberalization on Equity Returns in Southeast Asian Markets

The black-market exchange rate and currency substitution in a small open economy: An empirical analysis of Barbados