چکیده:
This paper investigates the relationship between total energy consumption and GDP in six countries of the Middle East , including Iran,Pakistan,Saudi Arabia,Oman,Bahrain and the United Arab Emirates. The data are annual and spanning the period 1980-2012.We employed Hsiao’s (1981) methodology to examine causality relation between total energy consumption and GDP.The empirical findings show a unidirectional causality relation between total energy consumption and GDP for Iran running from energy to GDP,and supports the growth hypothesis for Iran. For Saudi Arabia there is a unidirectional causality running from GDP to total energy consumption. Therefore we can accept conservation hypothesis about Saudi Arabia.There is bidirectional causality relation for other countries which support the feedback hypothesis about them.
خلاصه ماشینی:
"Conservation hypothesis indicates a unidirectional causality running from economic growth to energy consumption.
Asafu-Adjaye (2000) tested the causal relationship between energy use and income in four Asian countries using the cointegration and error-correction analysis.
Mehrara (2007) examined the causal relationship between the per capita energy consumption (PCEC) and the per capita GDP in a panel of 11 oil-exporting countries (Iran, Kuwait, Saudi Arabia, United Arab Emirates, Bahrain, Oman, Algeria, Nigeria, Mexico, Venezuela and Ecuador) by using panel unit root tests and panel cointegration analysis.
The results showed a unidirectional strong causality from economic growth to energy consumption for the oil-exporting countries.
According to the results of table2 we have bidirectional causality relation between total energy consumption and GDP for Bahrain which supports the feedback hypothesis.
There is a unidirectional causality effect for Saudi Arabia running from GDP to total energy consumption, and supports the conservation hypothesis.
There is a unidirectional causality effect for Iran running from energy consumption to GDP which supports the growth hypothesis.
According to their findings there is unidirectional granger causality running from GDP to energy consumption and energy saving would not harm economic growth in Iran.
Table 2: Total Energy Consumption and GDP Causality Results for Bahrain Equation Causality Minimum Relation FPE LnYt = ᵝ + Ʃ7 βj LnYt j LnY → 0.
There is a unidirectional causality effect for Iran running from total energy consumption to GDP which supports growth hypothesis.
Energy consumption, real income and temporal causality: results from a multi-country study based on cointegration and error-correction modelling techniques."