Analyzing Structural Change between Energy Consumption and Economic Growth in the Selected Oil Exporting Countries (1980-2010)

Subject Areas : Financial Economics

سید کمیل طیبی ¹ , zahra zamani ² , mostafa rajabi ³ , atyee azimi ⁴

1 - استاد اقتصاد بین‌الملل دانشگاه اصفهان.ایران
2 - دکتری اقتصاد دانشگاه اصفهان، ایران
3 - استادیار دانشگاه آزاد اسلامی واحد خمینی شهر.ایران
4 - کارشناس ارشد اقتصاد توسعه و برنامه ریزی، دانشگاه آزاد اسلامی واحد زاهدان.ایران

Received: 2015-04-09 Accepted : 2015-06-11 Published : 2015-08-23

Keywords: Economic Growth, Q43, Keywords: Energy Consumption, Chaw Test, Structural Change, Oil Exporting Countries. JEL Classification: O10,

Abstract :

Abstract Energy is known as an important and strategic input among natural resources in which its effect on economic growth is not deniable. A deep investigation of the relationship between energy consumption and growth could help policy makers to conduct effective and sustainable policies in the energy section of oil producing and exporting countries. However, this relationship could be volatile sometimes in the presence of structural changes. Therefore, it is necessary to investigate such structural changes between energy consumption and growth to avoid misleading policies in these economies. This study examines any structural change of the relationship between energy consumption and economic growth in the selected oil exporting countries, such as Algeria, Colombia, Equator, Indonesia, Malaysia, Norway, Venezuela and Iran, during 1980-2010. This has been done by using co-integration and Chaw tests via a panel data approach. The results confirm a structural change between oil consumption and economic growth in the oil exporting countries during the mentioned period.

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