Detailed Information on Publication Record
2023
Energy Consumption and Economic Growth in the Czech Republic and Slovakia
KRKOŠKOVÁ, RadmilaBasic information
Original name
Energy Consumption and Economic Growth in the Czech Republic and Slovakia
Authors
KRKOŠKOVÁ, Radmila (203 Czech Republic, guarantor, belonging to the institution)
Edition
Praha, Proceedings of the 41st International Conference on Mathematical Methods in Economics, p. 259-264, 6 pp. 2023
Publisher
Czech Society for Operations Research
Other information
Language
English
Type of outcome
Stať ve sborníku
Field of Study
50202 Applied Economics, Econometrics
Country of publisher
Czech Republic
Confidentiality degree
není předmětem státního či obchodního tajemství
Publication form
electronic version available online
References:
Organization unit
School of Business Administration in Karvina
ISBN
978-80-11-04132-8
ISSN
Keywords in English
ADF test; energy; GDP; Granger causality; VEC model
Změněno: 22/5/2024 08:45, Mgr. Radmila Krkošková, Ph.D.
Abstract
V originále
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.