Research article

A study on the relationship between economic growth and energy consumption under the new normal

  • Received: 01 May 2019 Accepted: 13 June 2019 Published: 19 June 2019
  • JEL Codes: O4

  • Drawing on the annual GDP data from 1980 to 2015 and the corresponding energy consumption data per ten thousand yuan GDP, the thesis studies the effects of energy consumption and its changes on economic growth. It is found that the relationship between economic growth and energy consumption assumes a significant two-regime feature, and the development trend shows an obvious asymmetry. Specifically, the regime switching probability and duration of different periods are both different. In particular, between 2010 and 2015, the trend of gradual decoupling of economic growth from energy consumption emerged, following the gradually decelerating growth in China's economy and the continuous changes in its industrial and energy structure. The dependence of economic growth on energy consumption weakened conspicuously.

    Citation: Liming Chen, Zhi Zhang, Fangyuan Chen, Na Zhou. A study on the relationship between economic growth and energy consumption under the new normal[J]. National Accounting Review, 2019, 1(1): 28-41. doi: 10.3934/NAR.2019.1.28

    Related Papers:

  • Drawing on the annual GDP data from 1980 to 2015 and the corresponding energy consumption data per ten thousand yuan GDP, the thesis studies the effects of energy consumption and its changes on economic growth. It is found that the relationship between economic growth and energy consumption assumes a significant two-regime feature, and the development trend shows an obvious asymmetry. Specifically, the regime switching probability and duration of different periods are both different. In particular, between 2010 and 2015, the trend of gradual decoupling of economic growth from energy consumption emerged, following the gradually decelerating growth in China's economy and the continuous changes in its industrial and energy structure. The dependence of economic growth on energy consumption weakened conspicuously.


    加载中


    [1] Eden SH, Been-Kwei Hwang (1984) The relationship between energy and GNP: further results. Energy econ 6:186-190. doi: 10.1016/0140-9883(84)90015-X
    [2] Jobert T, Karanfil F (2007) Sectoral energy consumption by source and economic growth in Turkey. Energy Policy 35: 5447-5456. doi: 10.1016/j.enpol.2007.05.008
    [3] Pao HT, Tsai CM (2011) Multivariate Granger causality between CO2 emissions, energy consumption, FDI and GDP: evidence from a panel of BRIC (Brazil, Russian Federation, India, and China) countries. Energy 36: 685-693. doi: 10.1016/j.energy.2010.09.041
    [4] Siebert H (1982) Nature as a Lift Support System: Renewable Resource and Environment Disruption. J Econ, 133-142.
    [5] Yu ESH, Choi JY (1985) The causal relationship between energy and GNP, an international consumption. J Energy Dev 985: 249-272.
    [6] Hwang BK, GUM B (1992) The causal Relationship Between Energy and GNP: The Case of Taiwan. J Energy Dev, 219-226.
    [7] Chiou-Wei SZ, Chen CF, Zhu Z (2008) Economic growth and energy consumption revisited evidence from linearand nonlinear Granger causality. Energy Econ 30: 3063-3076. doi: 10.1016/j.eneco.2008.02.002
    [8] Zhao JW, Fan JT (2007) An Empirical Study on the Inherent Dependence of Economic Growth on Energy Consumption. Econ Res J, 31-42.
    [9] Zhang YZ, Dang XH (2016) Energy Consumption and Economic Growth in China from 1980 to 2011-An Empirical Analysis Based on Nonlinear STR Model. Oper Res Manage Sci 25: 162-174.
    [10] Yang FY, Deng XY, Xue Q, et al. (2017) LMDII-Based Analysis of the Influencing Factors and Characteristics of Energy Consumption in High Energy Consumption Industries. China High Tech Enterp, 140-141.
    [11] Liang JW, Liu JL, Zhou L (2014) Study of the Nonlinear Dynamic Relationship between Energy Consumption and Economic Growth. J Arid Land Resour Environ 28: 1-6.
    [12] Guo S, Chen G, Nianshuang D (2012) An Empirical Analysis of the Relationship between New Energy Consumption and Economic Growth in China. Enterp Econ 31: 35-37.
    [13] Ma H, Liu SF, Yuan CQ, et al. (2012) An Analysis of Multivariate Co-integration of Energy Consumption and Economic Growth in China Based on Production Function. Resour Sci 34: 2374-2381.
    [14] Luo B, Zhang JS, Zhang W, et al. (2017) EKC Empirical Study on Economic Development and Environmental Pollution in Resource Rich Areas-A Case Study of Northern Shanxi. China Coal 43: 10-15.
    [15] Zhang X, Wang GF (2017) VAR Model-Based Empirical Study on Carbon Emissions, Energy Consumption and Economic Growth in Hebei Province. Estate Sci Trib 16: 89-91.
    [16] Hamilton JD (1994) Time series analysis, Princeton: Princeton University Press.
  • Reader Comments
  • © 2019 the Author(s), licensee AIMS Press. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0)
通讯作者: 陈斌, bchen63@163.com
  • 1. 

    沈阳化工大学材料科学与工程学院 沈阳 110142

  1. 本站搜索
  2. 百度学术搜索
  3. 万方数据库搜索
  4. CNKI搜索

Metrics

Article views(4662) PDF downloads(1383) Cited by(4)

Article outline

Figures and Tables

Figures(3)  /  Tables(11)

Other Articles By Authors

/

DownLoad:  Full-Size Img  PowerPoint
Return
Return

Catalog