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Economic Growth, Electricity Consumption, Labor Force and Capital Input: A More Comprehensive Analysis on North China Using Panel Data

机译:经济增长,电力消耗,劳动力和资本投入:使用面板数据对华北地区进行更全面的分析

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Over the past three decades, China’s economy has witnessed remarkable growth, with an average annual growth rate over 9%. However, China also faces great challenges to balance this spectacular economic growth and continuously increasing energy use like many other economies in the world. With the aim of designing effective energy and environmental policies, policymakers are required to master the relationship between energy consumption and economic growth. Therefore, in the case of North China, a multivariate model employing panel data analysis method based on the Cobb-Douglas production function which introduces electricity consumption as a main factor was established in this paper. The equilibrium relationship and causal relationship between real GDP, electricity consumption, total investment in fixed assets, and the employment were explored using data during the period of 1995–2014 for six provinces in North China, including Beijing City, Tianjin City, Hebei Province, Shanxi Province, Shandong Province and Inner Mongolia. The results of panel co-integration tests clearly state that all variables are co-integrated in the long term. Finally, Granger causality tests were used to examine the causal relationship between economic growth, electricity consumption, labor force and capital. From the Granger causality test results, we can draw the conclusions that: (1) There exist bi-directional causal relationships between electricity consumption and real GDP in six provinces except Hebei; and (2) there is a bi-directional relationship between capital input and economic growth and between labor force input and economic growth except Beijing and Hebei. Therefore, the ways to solve the contradiction of economic growth and energy consumption in North China are to reduce fossil energy consumption, develop renewable and sustainable energy sources, improve energy efficiency, and increase the proportion of the third industry, especially the sectors which hold the characteristics of low energy consumption and high value-added.
机译:在过去的三十年中,中国经济出现了惊人的增长,年均增长率超过9%。然而,与世界上许多其他经济体一样,中国在平衡这种惊人的经济增长和不断增加的能源使用方面也面临着巨大的挑战。为了设计有效的能源和环境政策,决策者必须掌握能源消耗与经济增长之间的关系。因此,在华北地区,建立了一种基于面板数据分析方法的多变量模型,该模型基于Cobb-Douglas生产函数,将电力消耗作为主要因素。利用1995-2014年间华北六省(包括北京市,天津市,河北省)的数据探索了实际GDP,电力消耗,固定资产总投资和就业之间的均衡关系和因果关系,山西省,山东省和内蒙古。面板协整测试的结果清楚地表明,所有变量都是长期协整的。最后,格兰杰因果关系检验用于检验经济增长,电力消耗,劳动力和资本之间的因果关系。从格兰杰因果关系检验结果可以得出以下结论:(1)除河北以外的六个省份的用电量与实际GDP之间存在双向因果关系; (2)除北京和河北外,资本投入与经济增长之间,劳动力投入与经济增长之间存在双向关系。因此,解决华北地区经济增长与能源消耗矛盾的方法是减少化石能源消耗,开发可再生能源和可持续能源,提高能源效率,增加第三产业的比重,特别是那些拥有第三产业的部门。低能耗,高附加值的特点。

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