Does Energy Efficiency Promote Economic Growth? [electronic resource] : Evidence from a Multi-Country and Multi-Sector Panel Data Set / Ashish Rajbhandari.

Rajbhandari, Ashish.
Other Title:
World Bank working papers.
Washington, D.C. : The World Bank, 2017.
Policy research working papers.
World Bank e-Library.
Government document
1 online resource (28 p.)
Local subjects:
Energy Efficiency
Energy Intensity
Economic Growth
Panel Cointegration
Granger Causality
Vector Autoregressions
This paper examines the causal relationship between energy efficiency and economic growth based on panel data for 56 high- and middle-income countries from 1978 to 2012. Using a panel vector autoregression approach, the study finds evidence of a long-run Granger causality from economic growth to lower energy intensity for all countries. The study also finds evidence of long-run bidirectional causality between lower energy intensity and higher economic growth for middle-income countries. This finding suggests that beyond climate benefits, middle-income countries may also earn an extra growth dividend from energy efficiency measures.
Rajbhandari, Ashish.
Zhang, Fan.
Other format:
Print Version: Rajbhandari, Ashish Does Energy Efficiency Promote Economic Growth?: Evidence from a Multi-Country and Multi-Sector Panel Data Set
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