Energy consumption and economic growth in Jordan : an ARDL bounds testing approach to cointegration
Other Title(s)
استهلاك الطاقة و النمو الاقتصادي في الأردن باستخدام نموذج الانحدار الذاتي للفجوات الزمنية الموزعة
Author
Source
Jordan Journal of Economic Sciences
Issue
Vol. 2, Issue 2 (31 Dec. 2015), pp.143-161, 19 p.
Publisher
University of Jordan Deanship of Academic Research (DAR)
Publication Date
2015-12-31
Country of Publication
Jordan
No. of Pages
19
Main Subjects
Topics
- Economic conditions
- Economic development
- Statistical analysis
- Jordan
- Twenty-first century
- Twentieth century
Abstract EN
This paper has two purposes: to examine the role of energy consumption in stimulating economic growth in Jordan and to investigate the direction of causality between energy consumption and economic growth in Jordan using annual data over the period 1980-2012.
To accomplish the first purpose an Autoregressive Distributed Lag (ARDL) approach is used to estimate a logarithmic version of traditional neo-classical aggregated production function where output is a function of energy, capital and labor.
Based on the estimates, long-run elasticities of output with respect to energy, capital and labor are found to be 0.85, 0.30 and 0.37, respectively.
While, the short-run estimates are 0.29, 0.24 and 0.28, respectively.
Granger-Causality test demonstrates a positive bidirectional relationship between energy consumption and economic growth supporting a feedback hypothesis; under this hypothesis energy consumption and real GDP are determined together suggesting that a policy of energy conservation would tend to slow economic growth in Jordan
American Psychological Association (APA)
Ajluni, Samih A.. 2015. Energy consumption and economic growth in Jordan : an ARDL bounds testing approach to cointegration. Jordan Journal of Economic Sciences،Vol. 2, no. 2, pp.143-161.
https://search.emarefa.net/detail/BIM-817209
Modern Language Association (MLA)
Ajluni, Samih A.. Energy consumption and economic growth in Jordan : an ARDL bounds testing approach to cointegration. Jordan Journal of Economic Sciences Vol. 2, no. 2 (2015), pp.143-161.
https://search.emarefa.net/detail/BIM-817209
American Medical Association (AMA)
Ajluni, Samih A.. Energy consumption and economic growth in Jordan : an ARDL bounds testing approach to cointegration. Jordan Journal of Economic Sciences. 2015. Vol. 2, no. 2, pp.143-161.
https://search.emarefa.net/detail/BIM-817209
Data Type
Journal Articles
Language
English
Notes
Record ID
BIM-817209