Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset

We examine the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income economies from 1978 to 2012. Using a panel vector autoregression approach, we find evidence of a long-run Granger causality from economic growth to lower energy intensi...

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Bibliographic Details
Main Authors:	Rajbhandari, Ashish, Zhang, Fan
Format:	Journal Article
Published:	Elsevier 2018
Subjects:	ENERGY EFFICIENCY ECONOMIC GROWTH GRANGER CAUSALITY GROWTH DIVIDEND CLIMATE IMPACT ENERGY INTENSITY PANEL COINTEGRATION VECTOR AUTOREGRESSION
Online Access:	http://hdl.handle.net/10986/29295

id	okr-10986-29295
recordtype	oai_dc
spelling	okr-10986-292952021-05-25T10:54:43Z Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset Rajbhandari, Ashish Zhang, Fan ENERGY EFFICIENCY ECONOMIC GROWTH GRANGER CAUSALITY GROWTH DIVIDEND CLIMATE IMPACT ENERGY INTENSITY PANEL COINTEGRATION VECTOR AUTOREGRESSION We examine the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income economies from 1978 to 2012. Using a panel vector autoregression approach, we find evidence of a long-run Granger causality from economic growth to lower energy intensity for all economies. We also find evidence of long-run bidirectional causality between lower energy intensity and higher economic growth for middle-income economies. This finding suggests that beyond climate benefits, middle-income economies may also earn an extra growth dividend from energy efficiency measures. 2018-02-01T17:40:58Z 2018-02-01T17:40:58Z 2018-01 Journal Article Energy Economics 0140-9883 http://hdl.handle.net/10986/29295 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Elsevier Publications & Research :: Journal Article Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	ENERGY EFFICIENCY ECONOMIC GROWTH GRANGER CAUSALITY GROWTH DIVIDEND CLIMATE IMPACT ENERGY INTENSITY PANEL COINTEGRATION VECTOR AUTOREGRESSION
spellingShingle	ENERGY EFFICIENCY ECONOMIC GROWTH GRANGER CAUSALITY GROWTH DIVIDEND CLIMATE IMPACT ENERGY INTENSITY PANEL COINTEGRATION VECTOR AUTOREGRESSION Rajbhandari, Ashish Zhang, Fan Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset
description	We examine the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income economies from 1978 to 2012. Using a panel vector autoregression approach, we find evidence of a long-run Granger causality from economic growth to lower energy intensity for all economies. We also find evidence of long-run bidirectional causality between lower energy intensity and higher economic growth for middle-income economies. This finding suggests that beyond climate benefits, middle-income economies may also earn an extra growth dividend from energy efficiency measures.
format	Journal Article
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 Multicountry and Multisectoral Panel Dataset
title_short	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset
title_full	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset
title_fullStr	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset
title_full_unstemmed	Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset
title_sort	does energy efficiency promote economic growth? : evidence from a multicountry and multisectoral panel dataset
publisher	Elsevier
publishDate	2018
url	http://hdl.handle.net/10986/29295
_version_	1764468987194769408

Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset

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