Economic Growth and Electricity Consumption in GCC and MENA Countries

KAYIKÇI F., Bildirici M. E.

SOUTH AFRICAN JOURNAL OF ECONOMICS, cilt.83, sa.2, ss.303-316, 2015 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 83 Sayı: 2
  • Basım Tarihi: 2015
  • Doi Numarası: 10.1111/saje.12061
  • Dergi Adı: SOUTH AFRICAN JOURNAL OF ECONOMICS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.303-316
  • Anahtar Kelimeler: C22, O40, Q43, Growth, electricity consumption, ARDL, ENERGY-CONSUMPTION, ERROR-CORRECTION, COINTEGRATION, DEMAND, BOUNDS, CAUSALITY, NEXUS
  • Yıldız Teknik Üniversitesi Adresli: Evet

Özet

This study estimates the causal relationship between oil rents, electricity consumption and economic growth at aggregate levels with annual data from between 1972 and 2011 for the Arab states of the Gulf and some Middle East and North African countries. An autoregressive distributed lag bounds test shows that oil rents, economic growth and electricity consumption are cointegrated for these countries in a stable manner over this whole period. Granger causality tests indicate that directions of causalities differ for the countries according to their natural resource levels. Thus, these countries can be classified according to their oil rent levels for implementing energy policies such as energy conservation.