Does Energy Efficiency Promote Economic Growth? : Evidence from a Multicountry and Multisectoral Panel Dataset

Rajbhandari, Ashish ; Zhang, Fan

Elsevier

关键词: ENERGY EFFICIENCY;    ECONOMIC GROWTH;    GRANGER CAUSALITY;    GROWTH DIVIDEND;    CLIMATE IMPACT;   

DOI  :  10.1016/j.eneco.2017.11.007
RP-ID  :  123232

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

We examine the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income economies from 1978 to 2012. Using a panel vector autoregression approach, we find evidence of a long-run Granger causality from economic growth to lower energy intensity for all economies. We also find evidence of long-run bidirectional causality between lower energy intensity and higher economic growth for middle-income economies. This finding suggests that beyond climate benefits, middle-income economies may also earn an extra growth dividend from energy efficiency measures.