J 2021

CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES

KRKOŠKOVÁ, Radmila

Basic information

Original name

CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES

Authors

KRKOŠKOVÁ, Radmila (203 Czech Republic, guarantor, belonging to the institution)

Edition

Technological and Economic Development of Economy, 2021, 2029-4913

Other information

Language

English

Type of outcome

Článek v odborném periodiku

Field of Study

50202 Applied Economics, Econometrics

Country of publisher

Lithuania

Confidentiality degree

není předmětem státního či obchodního tajemství

References:

CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES

RIV identification code

RIV/47813059:19520/21:A0000217

Organization unit

School of Business Administration in Karvina

DOI

http://dx.doi.org/10.3846/tede.2021.14863

UT WoS

000681057300006

Keywords in English

ADF test; causality; energy; GDP; VECM; Visegrad Group

Tags

impakt

Tags

International impact, Reviewed
Změněno: 13/9/2021 09:14, Mgr. Radmila Krkošková, Ph.D.

Abstract

V originále

Energy plays an important role in economic development. This paper deals with the long-run relationship between energy consumption and real GDP for V4 countries from 2005 to 2019. The analysis was based on the unit root tests, co-integration tests, and causality tests. There are two questions. The first question is if energy consumption is the stimulus to GDP, resp. energy consumption causes GDP. And the second question is if GDP is the stimulus for energy consumption, resp. GDP causes the consumption of energy. Energy consumption has an essential role in the economy on both the demand and the supply. It means that there should be a causal relationship from energy consumption to GDP as well as vice versa. Given that in the long run the energy consumption Granger causes the GDP in Slovakia, Hungary, and the Czech Republic, it means that energy consumption could cause economic growth in these countries. The only country where no significant relationship between energy consumption and the GDP has been demonstrated in Poland.
Displayed: 18/11/2024 18:05