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...

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Main Authors:	Rajbhandari, Ashish, Zhang, Fan
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ENERGY EFFICIENCY ENERGY INTENSITY ECONOMIC GROWTH PANEL COINTEGRATION GRANGER CAUSALITY VECTOR AUTOREGRESSIONS
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

id	okr-10986-26949
recordtype	oai_dc
spelling	okr-10986-269492021-06-08T14:42:46Z Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set Rajbhandari, Ashish Zhang, Fan ENERGY EFFICIENCY ENERGY INTENSITY ECONOMIC GROWTH PANEL COINTEGRATION GRANGER CAUSALITY VECTOR AUTOREGRESSIONS 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. 2017-06-05T20:57:48Z 2017-06-05T20:57:48Z 2017-05 Working Paper 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 English en_US Policy Research Working Paper;No. 8077 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper South Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ENERGY EFFICIENCY ENERGY INTENSITY ECONOMIC GROWTH PANEL COINTEGRATION GRANGER CAUSALITY VECTOR AUTOREGRESSIONS
spellingShingle	ENERGY EFFICIENCY ENERGY INTENSITY ECONOMIC GROWTH PANEL COINTEGRATION GRANGER CAUSALITY VECTOR AUTOREGRESSIONS Rajbhandari, Ashish Zhang, Fan Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
geographic_facet	South Asia
relation	Policy Research Working Paper;No. 8077
description	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.
format	Working Paper
author	Rajbhandari, Ashish Zhang, Fan
author_facet	Rajbhandari, Ashish Zhang, Fan
author_sort	Rajbhandari, Ashish
title	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
title_short	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
title_full	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
title_fullStr	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
title_full_unstemmed	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set
title_sort	does energy efficiency promote economic growth? : evidence from a multi-country and multi-sector panel data set
publisher	World Bank, Washington, DC
publishDate	2017
url	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
_version_	1764462962376966144

Does Energy Efficiency Promote Economic Growth? : Evidence from a Multi-Country and Multi-Sector Panel Data Set

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