Premium
Economic Growth and Electricity Consumption in GCC and MENA Countries
Author(s) -
Kayıkçı Fazıl,
Bildirici Melike
Publication year - 2015
Publication title -
south african journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.502
H-Index - 31
eISSN - 1813-6982
pISSN - 0038-2280
DOI - 10.1111/saje.12061
Subject(s) - economics , economic rent , distributed lag , consumption (sociology) , electricity , granger causality , international economics , economy , monetary economics , econometrics , microeconomics , engineering , social science , sociology , electrical engineering
This study estimates the causal relationship between oil rents, electricity consumption and economic growth at aggregate levels with annual data from between 1972 and 2011 for the A rab states of the G ulf and some Middle East and North A frican countries. An autoregressive distributed lag bounds test shows that oil rents, economic growth and electricity consumption are cointegrated for these countries in a stable manner over this whole period. Granger causality tests indicate that directions of causalities differ for the countries according to their natural resource levels. Thus, these countries can be classified according to their oil rent levels for implementing energy policies such as energy conservation.