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ANALYZING OF THE VALIDITY OF ENERGY-GROWTH HYPOTHESIS IN N-11 COUNTRIES

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DOI: 
http://dx.doi.org/10.15637/jlecon.141
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Abstract (2. Language): 
Th s study a ms to determ ne wh ch energy-growth hypothes s s val d n Next-11 countr es. We adopt a panel est mat on techn ques for the per od of 1984-2010 to exam ne the poss b l ty of growth, conservat ve, feedback, or neutral ty hypotheses for Next-11 countr es. F rstly, second generat on un t root test are used to nvest gate stat onar ty propert es of the var ables because of the cross-sect onal dependence.Then a panel co ntegrat on and panel causal ty approach are proposed to exam ne the causal relat onsh p between the var ables. F nally, panel vector autoregress on model, mpulseresponse and var ance decompos t on analys s are appl ed us ng general zed moment methods. The f nd ngs obta ned from panel Granger causal ty test suggests that there s ev dence of un - d rect onal causal ty between renewable energy consumpt on and econom c growth n the short-term, wh ch s cons stent w th the growth hypothes s. It s also found that the responses of growth to a shock of renewable energy consumpt on are pos t ve. S nce there s ev dence nd cat ng that renewable energy consumpt on may tr gger econom c growth.
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