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Ming-Jeng Hwang

Bio: Ming-Jeng Hwang is an academic researcher from West Virginia University. The author has contributed to research in topics: Panel data & Energy consumption. The author has an hindex of 4, co-authored 4 publications receiving 1132 citations.

Papers
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Journal ArticleDOI
TL;DR: In this article, the authors employed the GMM-SYS approach for the estimation of the panel VAR model in each of the four groups, and the causal relationship between energy consumption and economic growth was tested and ascertained.
Abstract: This paper uses the panel data of energy consumption and GDP for 82 countries from 1972 to 2002. Based on the income levels defined by the World Bank, the data are divided into four categories: low income group, lower middle income group, upper middle income group, and high income group. We employ the GMM-SYS approach for the estimation of the panel VAR model in each of the four groups. Afterwards, the causal relationship between energy consumption and economic growth is tested and ascertained. We discover: (a) in the low income group, there exists no causal relationship between energy consumption and economic growth; (b) in the middle income groups (lower and upper middle income groups), economic growth leads energy consumption positively; (c) in the high income group countries, economic growth leads energy consumption negatively. After further in-depth analysis of energy related data, the results indicate that, in the high income group, there is a great environmental improvement as a result of more efficient energy use and reduction in the release of CO2. However, in the upper middle income group countries, after the energy crisis, the energy efficiency declines and the release of CO2 rises. Since there is no evidence indicating that energy consumption leads economic growth in any of the four income groups, a stronger energy conservation policy should be pursued in all countries.

567 citations

Journal ArticleDOI
TL;DR: In this article, the authors employed the GMM-SYS approach for the estimation of the panel VAR model in each of the four groups, and the causal relationship between energy consumption and economic growth was tested and ascertained.

520 citations

Journal ArticleDOI
TL;DR: In this paper, the authors studied the price volatility of the crude oil market by examining the market structure of OPEC, the stable and unstable demand structure, and related elasticity of demand.

167 citations

Posted Content
TL;DR: In this article, the demand for cigarettes was estimated using panel data from 42 states and Washington, D.C. from 1961 to 2002, and it was found that the price and income elasticities are approximately -0.41 and 0.06, respectively, and the price elasticities of neighboring states is 0.09.
Abstract: This paper estimates the demand for cigarettes using panel data - 42 states and Washington, D.C. - from 1961 to 2002. We first employ the panel unit root test before estimating the demand structure. We have found that (i) the price and income elasticities are approximately -0.41 and 0.06, (ii) the price elasticities of neighboring states is 0.09, (iii) decreasing tax elasticity gives rise to decreasing price elasticity, and smaller tax shares (real tax as percentage of real price) seem to be related to declining tax elasticity, (iv) overall antismoking campaigns have contributed to declining income elasticities across different income groups, and (v) the decline in income elasticity for dividend and transfer income recipients is the main cause for the decrease in overall income elasticity. It has interesting implications: cigarette consumption is a normal good to wage earners and transfer payment recipients, but an inferior good to the owners of stocks and the elderly population.

25 citations


Cited by
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Journal ArticleDOI
Ilhan Ozturk1
TL;DR: A survey of the recent progress in the literature of energy consumption and economic growth causality nexus can be found in this paper, which highlights that most empirical studies focus on either testing the role of energy (electricity) in stimulating economic growth or examining the direction of causality between these two variables.

1,470 citations

Journal ArticleDOI
TL;DR: This article investigated the existence and direction of Granger causality between economic growth, energy consumption, and carbon emissions in China, applying a multivariate model of economic growth and energy use, carbon emissions, capital and urban population.

1,273 citations

Journal Article
TL;DR: Šonje et al. as mentioned in this paper used a sample of 35 countries for the period between 1860 and 1963 to show the relationship between income and financial depth measured by the ratio between bank's assets and GDP.
Abstract: relationship. All subsequent studies confirmed it (see for example King and Levine, 1993, and the review in: Pagano, 1993). Goldsmith used a sample of 35 countries for the period between 1860 and 1963 to show the relationship between income and financial depth measured by the ratio between bank's assets and GDP. He also showed that in periods of rapid growth, financial depth grows faster than income. More details about measuring financial depth can be found in this paper. FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH Velimir Šonje

891 citations

Journal ArticleDOI
TL;DR: In this paper, the authors examined the relationship between energy consumption and economic growth for six Central American countries over the period 1980-2004 within a multivariate framework, where a panel cointegration and error correction model was employed to infer the causal relationship.

682 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigated the existence of the environmental Kuznets curve (EKC) hypothesis in Vietnam during the period 1981-2011 and established a pollution model by applying the Autoregressive Distributed Lag (ARDL) methodology.

622 citations