Energy consumption and economic growth in the United Kingdom: Cross-Sample Validation Approach

 
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2017 (EN)
Energy consumption and economic growth in the United Kingdom: Cross-Sample Validation Approach (EN)

Cherednichenko, Alena (EN)

School of Science and Technology, MSc in Energy Management (EL)
Apergis, Nikolaos (EN)
Zachariadis, Theodoros (EN)
Dergiades, Theologos (EN)

This dissertation was written as a part of the MSc in Energy Management at the International Hellenic University. It investigates the relationship between energy consumption and economic growth in the United Kingdom, making use of the annual data for the period 1855-2010. There are two novelties in our study: firstly, in the Granger-causality testing we use a GDP series controlled for the effects of classic factors of production; secondly, in order to obtain credible causal inference we apply Cross-Sample Validation approach and compare it with the results of the conventional in-sample F-test. According to our empirical results, there is a strong evi-dence in support of feedback hypothesis from 1861 to 1950. However, after the Second World War this causal link disappears in favor of neutrality hypothesis. These results may provide useful information for the policy purposes. (EN)

masterThesis

Energy consumption (EN)
Economic growth (EN)
Cross-sample validation (EN)
Granger-causality (EN)

Διεθνές Πανεπιστήμιο της Ελλάδος (EL)
International Hellenic University (EN)

2017-04-10


IHU (EN)



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