Energy consumption and income in G-7 countries
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Dosyalar
Tarih
2006
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier Science Inc
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Several industrialized countries have signed the Kyoto Protocol, promising to reduce greenhouse gasses (GHG) emissions. To reduce or mitigate such emissions several policies including reducing energy consumption, increasing energy efficiency, decreasing energy intensity and forestation may be possible. The viability and effectiveness of each policy may differ due to country specific factors. This paper tries to assess the impact of a change in energy consumption on income and vice versa in G-7 countries. We employ multivariate cointegration, error correction models and generalized variance decompositions and uncover Granger causality relation between energy consumption and income in all countries. However, the direction of causality seems to differ across countries. This may suggest that although they are at the same level of economic development, different policy alternatives in support of the protocol may be available in each country.
Açıklama
Anahtar Kelimeler
Energy Consumption, Economic Growth, Global Warming, Cointegration, Vector Error Correction, Generalized Variance Decompositions
Kaynak
Journal Of Policy Modeling
WoS Q Değeri
Q4
Scopus Q Değeri
Q2
Cilt
28
Sayı
7
