Examining the stability of the long-run relationship between energy and GDP in the presence of an industrialization process
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Títol
Examining the stability of the long-run relationship between energy and GDP in the presence of an industrialization processData de publicació
2016Editor
Taylor & FrancisISSN
1556-7249; 1556-7257Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://www.tandfonline.com/doi/full/10.1080/15567249.2012.749961Paraules clau / Matèries
Resum
In this paper we examine the extent to which the relationship between energy
consumption and real GDP can be affected by an effective economic development
policy based on industrialization. The Spanish Stabilization ... [+]
In this paper we examine the extent to which the relationship between energy
consumption and real GDP can be affected by an effective economic development
policy based on industrialization. The Spanish Stabilization and Liberalization Plan of
1959 is regarded as a “natural experiment” that is especially interesting for our
purposes. To explore long-run causality and possible changes in its direction, we have
exploited statistical information for a long period (1900-2008). We applied a movingwindow
regression procedure based on the augmented vector autoregressive
methodology of Toda and Yamamoto (1995). Causality results are highly sensitive to
the industrialization process. For the sub-period preceding the development policy we
consistently found greater support for the “conservation hypothesis”. This contrasts
sharply with the set of results from the data belonging to the subsequent sub-period,
where evidence is in favor of the “growth hypothesis”. [-]
Publicat a
Energy Sources, Part B: Economics, Planning, and Policy Volume 11, 2016 - Issue 8Drets d'accés
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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