Journal
ENERGY ECONOMICS
Volume 32, Issue 3, Pages 545-549Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.eneco.2009.09.015
Keywords
Nuclear energy; Growth; Panel; Granger-causality
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This study examines the relationship between nuclear energy consumption and economic growth for sixteen countries within a multivariate panel framework over the period 1980-2005. Pedroni's (1999, 2004) heterogeneous panel cointegration test reveals there is a long-run equilibrium relationship between real GDP, nuclear energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The results of the panel vector error correction model finds bidirectional causality between nuclear energy consumption and economic growth in the short-run while unidirectional causality from nuclear energy consumption to economic growth in the long-run. Thus, the results provide support for the feedback hypothesis associated with the relationship between nuclear energy consumption and economic growth. (C) 2009 Elsevier By. All rights reserved.
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