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| 1 |
ID:
105771
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| Publication |
2011.
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| Summary/Abstract |
The aim of this paper is to re-examine the relationship between electricity consumption, economic growth, and employment in Portugal using the cointegration and Granger causality frameworks. This study covers the sample period from 1971 to 2009. We examine the presence of a long-run equilibrium relationship using the bounds testing approach to cointegration within the Unrestricted Error-Correction Model (UECM). Moreover, we examine the direction of causality between electricity consumption, economic growth, and employment in Portugal using the Granger causality test within the Vector Error-Correction Model (VECM). As a summary of the empirical findings, we find that electricity consumption, economic growth, and employment in Portugal are cointegrated and there is bi-directional Granger causality between the three variables in the long-run. With the exception of the Granger causality between electricity consumption and economic growth, the rest of the variables are also bi-directional Granger causality in the short-run. Furthermore, we find that there is unidirectional Granger causality running from economic growth to electricity consumption, but no evidence of reversal causality.
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| 2 |
ID:
150473
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| Summary/Abstract |
The gradual trend towards the electrification of economies has raised new challenges. Focusing on France, this paper uses monthly data from January 2010 to November 2014, to study the challenge of the simultaneous integration of various sources of generation, and their relationship with economic growth. For the analysis of the dynamics of interaction between electricity sources, the auto-regressive distributed lag (ARDL) bounds test approach was shown to be appropriate, as it allows short- and long-run effects to be distinguished. The results showed that nuclear energy has been a huge driver of economic growth in France and, at the same time, leads to an environment with lower CO2 emissions. Renewables were shown to exert a negative effect on economic growth, which could be due to lack of investment in other sources of production, due to the resilient position held by nuclear sources. The substitution effect among sources is noticeable. The robustness of the results was checked using annual data, from 1970 until 2012, and the results were comparable to those from the monthly data.
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