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Energy Consumption And Economic Growth In Central America: Evidence From A Panel Cointegration And Error Correction Model

机译:中美洲的能源消耗与经济增长:来自面板协整和误差校正模型的证据

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摘要

This study examines the relationship between energy consumption and economic growth for six Central American countries over the period 1980-2004 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. Based on the heterogeneous panel cointegration test by Pedroni (Pedroni, P., 1999. Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics 61, 653-670; Pedroni, P., 2004. Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis: new results. Econometric Theory 20, 597-627), cointegration is present between real GDP, energy consumption, the labor force, and real gross fixed capital formation with the respective coefficients positive and statistically significant. The Granger-causality results indicate the presence of both short-run and long-run causality from energy consumption to economic growth which supports the growth hypothesis.
机译:这项研究在多变量框架内研究了六个中美洲国家在1980年至2004年期间的能源消耗与经济增长之间的关系。给定时间序列数据的相对较短的时间,采用面板协整和误差校正模型来推断因果关系。基于Pedroni的异质面板协整测试(Pedroni,P.,1999.具有多个回归的异质面板中的协整测试的临界值。牛津经济与统计公报61,653-670; Pedroni,P.,2004.面板协整:集合时间序列检验的渐近和有限样本性质及其在PPP假设上的应用:新结果(计量经济学理论20,597-627),实际GDP,能耗,劳动力和实际固定资本总额之间存在协整关系系数分别为正且在统计上具有显着性。格兰杰因果关系结果表明,从能源消耗到经济增长都存在短期和长期因果关系,这支持了增长假说。

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