文档介绍：本科毕业论文外文翻译
外文题目: The relationship between energy consumption, energy prices and economic growth: time series evidence from Asian developing countries
出处: Energy Economics , 2000(22):615-625.
作者: John Asafu-Adjaye
原文:
Abstract
This paper estimates the causal relationships between energy consumption and e for India, Indonesia, the Philippines and Thailand, using cointegration and error-correction modeling techniques. The results indicate that, in the short-run, unidirectional Granger causality runs from energy to e for India and Indonesia, while bidirectional Granger causality runs from energy to e for Thailand and the Philippines. In the case of Thailand and the Philippines, energy, e and prices are mutually causal. The study results do not support the view that energy and e are neutral with respect to each other, with the exception of Indonesia and India where neutrality is observed in the short- Elsevier Science rights reserved.
1. Introduction
In the past two decades numerous studies have examined the causal relation-ships between energy consumption and economic growth, with either e or employment used as a proxy for the latter. To date, the empirical findings have been mixed or conflicting. The seminal article on this topic was published in the late seventies by Kraft and Kraft (1978) who found evidence in favor of causality running from GNP to energy consumption in the United States, using data for the period 1947-1974. Their findings were later supported by other researchers. For example, Akarca and Long (1979).found unidirectional Granger causality running from energy consumption to employment with no feedback, using US monthly data for the period 1973- estimated the long-run elasticity of total employ-ment with respect to energy consumption to be -.
However, these findings have been subjected to empirical challenge. Akarca and Long (1980), Erol and Yu (1987a), Yu and Choi (1985), and Yu and Hwang (1984) found no caus