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Showing 2 results for Nardl Model
Mr Mohammad Javad Mehdizadeh Rayeni, Dr Saman Ziaee, Mashallah Salarpour, Dr Hamid Mohammadi, Dr Mahmoud Ahmadpour,
Volume 16, Issue 67 (2-2021)
Abstract
Energy is one of the factors used in most economic activities. The economic security of most countries depends on secure access to energy. Therefore, the production and consumption of energy and its optimal use are of particular importance. The purpose of this study is to investigate the relationship between energy consumption and economic growth in the framework of nonlinear self-regression with extended interruptions (NARDL). We use seasonal data for the period 2002-2018 to investigate the asymmetric relationship between the chosen variables. The results indicate that a positive long-term shock on energy consumption had a positive effect on growth of the agricultural sector. A one percent increase or decrease in energy consumption increases economic growth in the agricultural sector by 0.8539 and 0.9657 percent, respectively. Also, the results of asymmetric causality test between energy consumption and growth of agricultural sector indicate that there is a symmetric causal relationship between energy consumption and growth of the agricultural sector. There is a positive asymmetric causal relationship between positive energy consumption shocks and agricultural growth, and no asymmetric causal relationship between negative shocks to energy consumption and growth of the agricultural sector. Therefore, policymakers need to attract new capital to build new power plants in the country, so that they can accelerate energy production and ensure the energy needed for agriculture.
Classification JEL: O13, C53, Q41
Keywords: Energy, Economic Growth, NARDL model, Iran
Dr Kuimars Shahbazi, Mr Hadi Jafarzadeh, Mrs Khadijeh Hasanzadeh,
Volume 19, Issue 76 (5-2023)
Abstract
This paper investigates the effect of positive and negative shocks from the shadow economy and financial development on energy consumption during the period of 1974–2014 in the short and long term using the non-linear Autoregressive Distributed Lag. The ratio of liquidity to GDP has been used as an indicator of financial development, and the volume of the shadow economy calculated by Piraee and Rajaee (2015) has also been used, using a multiple indicators, multiple causes (MIMIC) model. The results show that the effect of positive and negative shadows of the shadow economy and financial development on energy consumption in the long and short term is asymmetric, and this asymmetry is that in the short and long term, a negative shadow economy shock has a greater effect than a positive shock. In the long term, the positive shock of the financial development has a greater effect on energy consumption than its negative shock. The negative shock of the shadow economy with an interruption leads to an increase of 0.04 in energy consumption, but its positive shock reduces energy consumption by only 0.02. Also, the relationship between positive and negative shocks of financial development on energy consumption is direct. Therefore, in order to control energy consumption, investing in improving financial development through improved technology will lead to reducing environmental pollution and saving energy consumption.
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