Journal
SUSTAINABILITY
Volume 9, Issue 1, Pages -Publisher
MDPI
DOI: 10.3390/su9010050
Keywords
energy consumption; economic growth; panel cointegration; Granger causality
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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.
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