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Advisor(s)
Abstract(s)
The paper examines the nexus between growth and primary energy consumption in
Portugal, using the Autoregressive Distributed Lag (ARDL) bounds test approach with
annual time series data from 1965 to 2008. Portugal is a medium-sized economy which
has experienced several episodes of economic expansion and stagnation that make it
of particular interest. Portugal is constrained by external energy dependency and is faced
with the policies of energy preservation due to international commitments and
initiatives, such as the Kyoto Protocol and Directives of European Union, that potentially
may have deep implications for its economic growth. Empirical results suggest that
energy causes growth in the long run and short run, but growth only causes energy
consumption in the short run. Therefore, an energy policy to promote consumption
constraints on energy will reduce GDP growth in Portugal.
Description
Keywords
Autoregressive Distributed Lag