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Advisor(s)
Abstract(s)
The augmented energy-growth nexus with globalization is analyzed for a panel of 43 countries between 1971 to 2013, by using na autoregressive distributed lag (ARDL) approach. The impacts of economic, political and social globalization on energy-growth nexus are explored. The results are consistent with the presence of cointegration. Evidences of the traditional feedback hypothesis on the energy-growth nexus was found. Economic, political and social globalization have heterogenous impacts on the nexus. In general, globalization is a long-run driver of both energy consumption and economic growth. Accordingly, globalization should be promoted. In addition, restrictive energy policies should be avoided or carefully designed to no hamper economic growth.
Description
Keywords
Augmented energy-growth nexus Globalization Panel data Primary energy consumption