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| 1 |
ID:
112923
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| Publication |
2012.
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| Summary/Abstract |
This paper applies panel data techniques to analyze the role of the various energy sources in economic growth, for a set of 24 European countries (1990-2007), controlling for energy consumption and energy dependency. The results suggest that the negative effect of the use of renewables supplants the positive effect of creating income by exploiting a natural resource locally, and thus growth does not appear to improve with the change towards renewables. The high costs of promoting renewables are probably being placed excessively upon the economy, namely by increasing the costs of electricity tariffs, thus inducing a deceleration in economic activity. Fossil fuels lead to dissimilar effects on growth while natural gas does not appear to be relevant in explaining growth. Coal hampers the capacity for growth, whereas the use of oil stimulates that growth. This is in line with productive structures that are deeply grounded in fossil fuels, particularly oil.
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| 2 |
ID:
125826
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| Publication |
2013.
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| Summary/Abstract |
The Algerian economy is an example of a high level of rentierism, while the Egyptian economy shows a low/moderate level of rentierism. The ARDL bounds test approach was used upon annual time series data from 1965 to 2010. The results suggest cointegration for both countries. Bi-causality between energy consumption and growth in the long run was found. For Algeria there is a reversed (negative) energy-growth nexus, adding a new relationship to the traditional four causal hypotheses on the energy-growth nexus. For Egypt, we found positive elasticity both of oil price and energy, which is in line with the mainstream.
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