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Abstract(s)
O nosso estudo apresenta uma nova perspetiva do nexus da relação de causalidade entre o consumo de energia, e o crescimento económico, controlando para as exportações de bens e serviços, emprego, as rendas do petróleo, a inflação e a auto-suficiência. A análise abrange um conjunto de 14 países produtores de petróleo de um universo diversificado, no período de 1970-2012. Procedemos à utilização do estimador ARDL que permite analisar as relações dinâmicas entre as variáveis, e do estimador Driscoll-Kraay que permitiu corrigir a instabilidade dos parâmetros. Os resultados do macro painel mostram que as exportações e a auto-suficiência têm influência no curto prazo e no longo prazo. As exportações mostram uma complexidade dinâmica mais extensa no curto prazo do que no longo prazo. A variável auto-suficiência mostrou-se crucial. Sem ela o modelo perdia a capacidade explicativa. Além disso a inclusão desta variável no modelo permitiu analisar países produtores de petróleo, que de uma forma geral introduz especificidade.
Our study presents a new perspective of the nexus of causality between energy consumption and economic growth, controlling for exports of goods and services, employment, oil revenues, inflation and the self-sufficiency. The analysis covers a set of 14 oil producing countries from a diverse universe, in the period 1970-2012. We proceeded to the use of ARDL estimator which allows to analyse the dynamic relationships among variables, and the Driscoll-Kraay estimator which permitted to correct the instability of the parameters. The results of the macro panel show that exports and the self-sufficiency have na influence on the short term and the long run. Exports show a more extensive dynamic complexity in the short term than in the long run one. Self-sufficiency proved crucial variable. Without it, the model would lose its explanatory power. Furthermore the inclusion of this variable in the model allowed us to analyse oil producing countries, which in general introduces a specificity.
Our study presents a new perspective of the nexus of causality between energy consumption and economic growth, controlling for exports of goods and services, employment, oil revenues, inflation and the self-sufficiency. The analysis covers a set of 14 oil producing countries from a diverse universe, in the period 1970-2012. We proceeded to the use of ARDL estimator which allows to analyse the dynamic relationships among variables, and the Driscoll-Kraay estimator which permitted to correct the instability of the parameters. The results of the macro panel show that exports and the self-sufficiency have na influence on the short term and the long run. Exports show a more extensive dynamic complexity in the short term than in the long run one. Self-sufficiency proved crucial variable. Without it, the model would lose its explanatory power. Furthermore the inclusion of this variable in the model allowed us to analyse oil producing countries, which in general introduces a specificity.
Description
Keywords
Macro Painéis Nexus Energia-Crescimento Países Produtores de Petróleo