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@article{52146,
author = {Krkošková, Radmila},
article_number = {4},
doi = {http://dx.doi.org/10.3846/tede.2021.14863},
keywords = {ADF test; causality; energy; GDP; VECM; Visegrad Group},
language = {eng},
issn = {2029-4913},
journal = {Technological and Economic Development of Economy},
title = {CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES},
url = {https://journals.vgtu.lt/index.php/TEDE/article/view/14863},
volume = {27},
year = {2021}
}
TY - JOUR
ID - 52146
AU - Krkošková, Radmila
PY - 2021
TI - CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES
JF - Technological and Economic Development of Economy
VL - 27
IS - 4
SP - 900-920
EP - 900-920
SN - 20294913
KW - ADF test
KW - causality
KW - energy
KW - GDP
KW - VECM
KW - Visegrad Group
UR - https://journals.vgtu.lt/index.php/TEDE/article/view/14863
N2 - 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.
ER -
KRKOŠKOVÁ, Radmila. CAUSALITY BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE V4 COUNTRIES. \textit{Technological and Economic Development of Economy}. 2021, vol.~27, No~4, p.~900-920. ISSN~2029-4913. Available from: https://dx.doi.org/10.3846/tede.2021.14863.
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