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ID109700
Title ProperNuclear energy consumption and economic growth in OECD countries
Other Title Informationcross-sectionally dependent heterogeneous panel causality analysis
LanguageENG
AuthorNazlioglu, Saban ;  Lebe, Fuat ;  Kayhan, Selim
Publication2011.
Summary / Abstract (Note)The purpose of this study is to determine the direction causality between nuclear energy consumption and economic growth in OECD countries. The empirical model that includes capital and labor force as the control variables is estimated for the panel of fourteen OECD countries during the period 1980-2007. Apart from the previous studies in the nuclear energy consumption and economic growth relationship, this study utilizes the novel panel causality approach, which allows both cross-sectional dependency and heterogeneity across countries. The findings show that there is no causality between nuclear energy consumption and economic growth in eleven out of fourteen cases, supporting the neutrality hypothesis. As a sensitivity analysis, we also conduct Toda-Yamamoto time series causality method and find out that the results from the panel causality analysis are slightly different than those from the time-series causality analysis. Thereby, we can conclude that the choice of statistical tools in analyzing the nature of causality between nuclear energy consumption and economic growth may play a key role for policy implications.
`In' analytical NoteEnergy Policy Vol. 39, No. 10; Oct 2011: p.6615-6621
Journal SourceEnergy Policy Vol. 39, No. 10; Oct 2011: p.6615-6621
Key WordsNuclear Energy Consumption ;  Economic Growth ;  Panel Causality