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An Investigation of the Threshold Effect of Energy Consumption on Economic Growth in OPEC Members Countries
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Rana Asghari *1   , S. Jamaledin M. Zonouzi2 |
1- Urmia University , asghari.rana@gmail.com
2- Urmia University |
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Abstract: (4680 Views) |
The present study investigates the impact of energy consumption on economic growth with emphasis on non-fuel export for OPEC Members Countries over the period 1995-2012. For this purpose, the paper uses the Panel Smooth Transition Regression (PSTR) model. The estimated results reject the linearity hypothesis, and indicate a continuous transition function with two regimes that gives a threshold at energy consumption of 21374.28 kilo ton of oil equivalent for the selected countries. Moreover the study results indicate that energy consumption, investment, labor force and non-fuel export have positive impact on economic growth in these countries. The results indicate that energy consumption will have positive effect on economic growth upt to the threshold level of energy consumption. The high energy intensity of OPEC member countries, indicates that they need to adopt policies that reduce energy consumption without negatively impacting growth thus promoting optimal energy consumptionus.
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| Keywords: Economic Growth, Energy Consumption, Non-Fuel Export, PSTR Model. |
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Full-Text [PDF 475 kb]
(1773 Downloads)
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Type of Study: Research |
Subject:
Energy Economic
Received: 2014/10/21 | Accepted: 2017/06/24 | Published: 2017/06/24 | ePublished: 2017/06/24
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