چکیده:
In this study، we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected Middle East and North African (MENA) countries using an annual data series from 1990 to 2011.Our main finding from the panel analysis is that the demand for electricity is highly price elastic and slightly income elastic in the long run for MENA countries. Our findings are consistent with the argument that the demand for electricity in the MENA countries is affected largely by strong economic growth.
خلاصه ماشینی:
Electricity Demand in MENA Countries: A Panel Cointegration Analysis Mohammad Sharif Karimi*1 Huseyin Karamelikli2 Received: 2016/02/21 Accepted: 2016/05/01 Abstract n this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected Middle East and North African (MENA) countries using an annual data series from 1990 to 2011.
Our main finding from the panel analysis is that the demand for electricity is highly price elastic and slightly income elastic in the long run for MENA countries.
There are a few studies that have estimated income and price elasticities for residential electricity within a panel framework utilizing pooled cross- sectional and time series state-level data within the MENA, and some studies that examine the demand for a range of energy products across the Middle East (for example, Al-faris, 1997).
To test whether there is a long-run relationship between residential electricity demand and its determinants, the panel cointegration test of Pedroni (2004) is used which has the advantage that it allows for heterogeneity across countries.
+1 = + ∑ =1 ,− + (2) The test statistic examines the null hypothesis that the process is difference stationary, and the alternative is that the panel series is stationary: (رجوع شود به تصویر صفحه) In our model, if our variables [q, y, p, gp, pop] contain a panel unit root, the issue arises whether there exists a long-run equilibrium relationship between the variables.
We proceed to examine whether there is a long-run relationship between residential electricity consumption and its determinants employing the Pedroni (2004) panel cointegration test and using the three group-based test statistics.