Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
This paper examines the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income countries from 1978 to 2012. Using a panel vector autoregression approach, the study finds evidence of a lo...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/957991496167336779/Does-energy-efficiency-promote-economic-growth-evidence-from-a-multi-country-and-multi-sector-panel-data-set http://hdl.handle.net/10986/26949 |
| Summary: | This paper examines the causal
relationship between energy efficiency and economic growth
based on panel data for 56 high- and middle-income countries
from 1978 to 2012. Using a panel vector autoregression
approach, the study finds evidence of a long-run Granger
causality from economic growth to lower energy intensity for
all countries. The study also finds evidence of long-run
bidirectional causality between lower energy intensity and
higher economic growth for middle-income countries. This
finding suggests that beyond climate benefits, middle-income
countries may also earn an extra growth dividend from energy
efficiency measures. |
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