Impact of renewable and non-renewable energy consumption on economic growth: New evidence from the MENA Net Oil Exporting Countries (NOECs)
Author | Kahia, Montassar |
Author | Ben Aïssa, Mohamed Safouane |
Author | Charfeddine, Lanouar |
Available date | 2017-01-10T07:00:05Z |
Publication Date | 2016-12-01 |
Publication Name | Energy |
Identifier | http://dx.doi.org/10.1016/j.energy.2016.07.126 |
Citation | Montassar Kahia, Mohamed Safouane Ben Aïssa, Lanouar Charfeddine, Impact of renewable and non-renewable energy consumption on economic growth: New evidence from the MENA Net Oil Exporting Countries (NOECs), Energy, Volume 116, Part 1, 1 December 2016, Pages 102-115 |
ISSN | 03605442 |
Abstract | This study explores the economic growth – energy consumption nexus for two samples of MENA Net Oil Exporting Countries (NOECs) during the period 1980–2012. Using panel cointegration approach, we found strong evidence for the existence of a long-run relationship between real GDP, renewable and non-renewable energy consumption, real gross fixed capital formation, and the labor force. Moreover, empirical results from the estimation of the panel error correction model indicate evidence of a unidirectional causality running from economic growth to renewable energy consumption in the short-run. In the long-run, the results show evidence of a bidirectional causality for the entire group of MENA NOECs. For the 5 selected MENA NOECs sample, we found strong evidence for bidirectional causality between renewable energy and economic growth. Additionally, our results confirm bidirectional causality between renewable and non-renewable energy consumption with negative and significant coefficient in the short-run indicating substitutability between these two types of energy. Finally, the paper discusses the economic implications of the results and proposes certain policies recommendations. |
Language | en |
Publisher | Elsevier |
Subject | Renewable and non-renewable energy consumption Economic growth Panel cointegration MENA Net Oil Exporting Countries |
Type | Article |
Pagination | 102-115 |
Volume Number | 116 |
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