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Economic growth and electricity consumption in 12 European countries: A causality analysis using panel data

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2 Author(s)
A. Ciarreta ; University of the Basque Country (UPV-EHU), Dept. of Economic Analysis II, Avda. Lehendakari Aguirre, 83, 48015 Bilbao, Spain ; A. Zarraga

We apply recent panel methodology to investigate the relationship between electricity consumption and real GDP for a set of 12 European Union countries using annual data for the period 1970-2004. Tests for panel unit roots, cointegration in heterogeneous panels and panel causality are employed. The results show a long-run relationship between the series. We estimate this relationship and test for causality. We find no short-run causality in any direction. These results might help to design appropriate electricity consumption policies in the sample countries, as well as investment policies in interconnections to build a single European market for electricity.

Published in:

2009 6th International Conference on the European Energy Market

Date of Conference:

27-29 May 2009