Electricity consumption and economic growth. Empirical evidence from
82 countries
Fardis, Dimitrios
The extensively researched causal relationship between electricity consumption and economic growth is given in this dissertation a chance to be clarified with 61 countries and 21 region aggregates being examined on data spanning from 1971 up to 2011. The results verify the divergence in the outcomes of causality direction and existence even among different studies for a specified country and witness the sensitivity of the approaching methods to the associated variables. Moreover an attempt is made to correlate the outcomes of causality with each country’ s specificities like income level, region and potential of producing electricity by oil and natural gas reserves. Here the feedback hypothesis is found to be connected with countries that produce electricity through the aforementioned fossil fuels while the neutrality hypothesis seems to be possible for countries in Europe and central Asia.
