Investigating energy consumption and economic growth for BRICS-T countries

Investigating energy consumption and economic growth for BRICS-T countries PurposeThe purpose of this paper is to explore the relationship between energy consumption and economic growth for Brazil, Russia, China, India, South Africa and Turkey (BRICS-T) countries. In this context, this study investigates energy consumption and real output in BRICS-T countries through panel cointegration.Design/methodology/approachThe data include energy consumption and real output for BRICS-T countries and period of 1990–2014. The variables are transformed into natural logarithm. To analyze these data, this study employed Pedroni cointegration test, the second-generation panel cointegration test, Westerlund and Edgerton (2008) test and FMOLS test.FindingsResults indicate that there is a bi-directional causality relationship between energy consumption and economic growth for BRICS-T countries. An increase in GDP leads to an increase in energy consumption and an increase in energy consumption leads to an increase in GDP.Research limitations/implicationsThis study used data that include the period of 1990–2014 for BRICS-T countries. So, further studies can use different periods of data or different countries.Originality/valueThis study provides important evidence that countries with strong growth performance need to follow bi-directional energy policies to increase both energy investments and ensure energy savings. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png World Journal of Science, Technology and Sustainable Development Emerald Publishing

Investigating energy consumption and economic growth for BRICS-T countries

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
2042-5945
DOI
10.1108/WJSTSD-12-2018-0063
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to explore the relationship between energy consumption and economic growth for Brazil, Russia, China, India, South Africa and Turkey (BRICS-T) countries. In this context, this study investigates energy consumption and real output in BRICS-T countries through panel cointegration.Design/methodology/approachThe data include energy consumption and real output for BRICS-T countries and period of 1990–2014. The variables are transformed into natural logarithm. To analyze these data, this study employed Pedroni cointegration test, the second-generation panel cointegration test, Westerlund and Edgerton (2008) test and FMOLS test.FindingsResults indicate that there is a bi-directional causality relationship between energy consumption and economic growth for BRICS-T countries. An increase in GDP leads to an increase in energy consumption and an increase in energy consumption leads to an increase in GDP.Research limitations/implicationsThis study used data that include the period of 1990–2014 for BRICS-T countries. So, further studies can use different periods of data or different countries.Originality/valueThis study provides important evidence that countries with strong growth performance need to follow bi-directional energy policies to increase both energy investments and ensure energy savings.

Journal

World Journal of Science, Technology and Sustainable DevelopmentEmerald Publishing

Published: Oct 7, 2019

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