Energy Consumption and Economic Growth in the Czech Republic and Slovakia

@inproceedings{72223,
   author = {Krkošková, Radmila},
   address = {Praha},
   booktitle = {Proceedings of the 41st International Conference on Mathematical Methods in Economics},
   editor = {Jana Sekničková, Vladimír Holý},
   keywords = {ADF test; energy; GDP; Granger causality; VEC model},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Praha},
   pages = {259-264},
   publisher = {Czech Society for Operations Research},
   title = {Energy Consumption and Economic Growth in the Czech Republic and Slovakia},
   url = {https://mme2023.vse.cz/},
   year = {2023}
}

TY  - JOUR
ID  - 72223
AU  - Krkošková, Radmila
PY  - 2023
TI  - Energy Consumption and Economic Growth in the Czech Republic and Slovakia
PB  - Czech Society for Operations Research
CY  - Praha
KW  - ADF test
KW  - energy
KW  - GDP
KW  - Granger causality
KW  - VEC model
UR  - https://mme2023.vse.cz/
N2  - Energy consumption and economic growth are interconnected, and the relationship between them is complex and dependent on various factors. Key aspects of this relationship include: energy consumption as a driver of economic growth; technological progress and efficiency; structural changes in the economy; policies and regulations. This article examines the long-term relationship between energy consumption and real GDP for the Czech Republic and Slovakia from 2005 to 2022. Many studies have explored the linkages between energy consumption, economic growth, and energy efficiency. The aim of this contribution is to contribute to this topic by analyzing the Granger causality between the indicators. This paper focuses on the predictive power (Granger causality) rather than estimating the true causal relationship of the VAR/VECM model. The results for both countries indicate that energy consumption Granger-causes GDP. This means that energy-saving policies may slow down the pace of GDP growth. These findings are based on the analysis of Eurostat data from 2005 to 2022 for the Czech Republic and Slovakia, using the statistical software EViews 11 for calculations.
ER  - 

KRKOŠKOVÁ, Radmila. Energy Consumption and Economic Growth in the Czech Republic and Slovakia. Online. In Jana Sekničková, Vladimír Holý. \textit{Proceedings of the 41st International Conference on Mathematical Methods in Economics}. Praha: Czech Society for Operations Research, 2023, s.~259-264.