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Sustainability 2017, 9(1), 50; doi:10.3390/su9010050

Electricity Consumption and Economic Growth: Evidence from 17 Taiwanese Industries

Department of Economics and Finance, Ming Chuan University, 5 De Ming Rd., Gui Shan District, Taoyuan City 333, Taiwan
Academic Editor: Marc A. Rosen
Received: 10 November 2016 / Revised: 12 December 2016 / Accepted: 26 December 2016 / Published: 30 December 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
View Full-Text   |   Download PDF [422 KB, uploaded 30 December 2016]   |  

Abstract

The current paper investigates the existence and nature of the Granger causality between electricity consumption and economic growth for 17 industries in Taiwan. Empirical results over the period 1998–2014 suggest that a panel cointegration test shows a long-run equilibrium relationship and a bi-directional Granger causality between electricity and economic growth has been found. The result indicates that a 1% increase in electricity consumption boosts the real GDP by 1.72%. The government can pursue energy conservation and carbon reduction policy in some industries without impeding the economic growth for adjusting the industrial structure. View Full-Text
Keywords: energy consumption; economic growth; panel cointegration; Granger causality energy consumption; economic growth; panel cointegration; Granger causality
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Lu, W.-C. Electricity Consumption and Economic Growth: Evidence from 17 Taiwanese Industries. Sustainability 2017, 9, 50.

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