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| 1 |
ID:
113468
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2012.
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| Summary/Abstract |
This study examines the causal relationship between diesel consumption and economic growth in Cameroon by using a three-step modern time-series technique. Tests for unit roots, cointegration, and Granger-causality based on error correction model are employed on annual data covering the period 1975-2008. Empirical results of the study confirm the presence of a long-run equilibrium relationship between diesel consumption and economic growth. The error correction model shows that an estimated 1% increase in economic growth causes a rise in diesel consumption of 1.30% in the long-run. The overall results show that there exists bidirectional causality in the long-run relationship and no causality in the short-run relationship between diesel consumption and economic growth at the 5% level of significance. Thus, the energy policies in Cameroon should place priority on the discovery of new oil field and building capacity additions of the refinery to increase production of petroleum products, as this would propel the economic growth of the country.
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| 2 |
ID:
104952
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2011.
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| Summary/Abstract |
The objective of this study is to project transport energy consumption in Thailand for the next 20 years. The study develops log-linear regression models and feed-forward neural network models, using the as independent variables national gross domestic product, population and the numbers of registered vehicles. The models are based on 20-year historical data between years 1989 and 2008, and are used to project the trends in future transport energy consumption for years 2010-2030. The final log-linear models include only gross domestic product, since all independent variables are highly correlated. It was found that the projection results of this study were in the range of 54.84-59.05 million tonnes of oil equivalent, 2.5 times the 2008 consumption. The projected demand is only 61-65% of that predicted in a previous study, which used the LEAP model. This major discrepancy in transport energy demand projections suggests that projects related to this key indicator should take into account alternative projections, because these numbers greatly affect plans, policies and budget allocation for national energy management.
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