Detailed Information on Publication Record
2021
CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES
KRKOŠKOVÁ, RadmilaBasic 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
RIV identification code
RIV/47813059:19520/21:A0000217
Organization unit
School of Business Administration in Karvina
UT WoS
000681057300006
Keywords in English
ADF test; causality; energy; GDP; VECM; Visegrad Group
Tags
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.