The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index
| Autor(a) principal: | |
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| Data de Publicação: | 2021 |
| Outros Autores: | , |
| Tipo de documento: | Artigo |
| Idioma: | por |
| Título da fonte: | Revista Valore (Online) |
| Texto Completo: | https://revistavalore.emnuvens.com.br/valore/article/view/278 |
Resumo: | This article inaugurates the study of the energy-economic growth nexus with a new approach with the introduction of globalisation index, in ten Latin American and the Caribbean countries from 1971-2014. The Autoregressive Distributed Lag (ARDL) and the Granger causality Wald test were used as a methodology. The empirical results pointed to the existence of a bidirectional relationship between economic growth and consumption of renewable energy, a unidirectional relationship from consumption of fossil to economic growth, and a bidirectional relationship between globalisation and consumption of renewable energy. That these results help the local governments develop new policies with the purpose of increases the consumption of renewable energy and reduces environmental degradation while promoting development. |
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The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation indexThis article inaugurates the study of the energy-economic growth nexus with a new approach with the introduction of globalisation index, in ten Latin American and the Caribbean countries from 1971-2014. The Autoregressive Distributed Lag (ARDL) and the Granger causality Wald test were used as a methodology. The empirical results pointed to the existence of a bidirectional relationship between economic growth and consumption of renewable energy, a unidirectional relationship from consumption of fossil to economic growth, and a bidirectional relationship between globalisation and consumption of renewable energy. That these results help the local governments develop new policies with the purpose of increases the consumption of renewable energy and reduces environmental degradation while promoting development.FaSFFunding: This study was funded by National Funds of the FCT – Portuguese Foundation for Science and Technology within the project UID/ECO/04007/2019, and NECE - Research Unit in Business Science and Economics, sponsored by the FCT and Higher Education, prKoengkan, MatheusFuinhas, José AlbertoRosa, Simone Baptista2021-01-07info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistavalore.emnuvens.com.br/valore/article/view/27810.22408/reva502020278e-5019Revista Valore; v. 5 (2020): Revista Valore; e-50192526-043X2525-900810.22408/reva502020reponame:Revista Valore (Online)instname:Faculdade Sul Fluminense (FASF)instacron:FASFporhttps://revistavalore.emnuvens.com.br/valore/article/view/278/405/*ref*/ACARAVCI A., OZTURK I. On the relationship between energy consumption, CO2 emissions and economic growth in Europe. Energy, v. 35, n.12, p.5412-5420, 2010./*ref*/ANG J.B. (2007) CO2 emissions, energy consumption, and output in France. Energy Policy, v. 35, n. 10, p.4772-4778, 2007./*ref*/APERGIS N., PAYNE J.E., MENYAH K.,WOLDE-RUFAEL Y.On the causal dynamics between emissions, nuclear energy, renewable energy, and economic growth. Ecological Economics, v. 69, n. 11, p. 2255-2260,2010./*ref*/APERGIS N.,PAYNE J.E. Renewable energy consumption and economic growth: Evidence from a panel of OECD countries. Energy Policy, v. 38, n. 1., p.656-660,2010./*ref*/BALZA L.H, ESPINASA R.,SEREBRISKY T. Lights on?: Energy Needs in Latin America and the Caribbean to 2040. Inter-American Development Bank, p.1-39, 2016./*ref*/BREUSCH T.S.,PAGAN A.R. The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, v.47, n.1. p.239-253,1980./*ref*/CARAIANI C., LANGU C.I., DASCALU C. Energy consumption and GDP causality: A three-step analysis for emerging European countries. Renewable and Sustainable Energy Reviews, v. 44, p. 198-210,2015./*ref*/DESTEK M.A., ASLAN A. Renewable and non-renewable energy consumption and economic growth in emerging economies: Evidence from bootstrap panel causality. Renewable Energy, v.111, p.757-763,2017./*ref*/FRIEDMAN M. The use of ranks to avoid the assumption of normality implicit in the analysis of variance. Journal of the American Statistical Association, v.32, p. 675-701, 1937./*ref*/FUINHAS J.A., MARQUES A.C. An ARDL Approach to the Oil and Growth Nexus: Portuguese Evidence. Energy Sources, Part B: Economics, Planning, and Policy, v. 7, n.3, p.282-291,2011./*ref*/FUINHAS J.A., MARQUES A.C.,KOENGKAN M. Are renewable energy policies upsetting carbon dioxide emissions? The case of Latin America countries. Environmental Science and Pollution Research, v. 24, n.17, p.15044–15054,2017./*ref*/GREENE W.Econometric Analysis. Upper Saddle River, New Jersey: Prentice—Hall,2002./*ref*/HAGGARD S., KAUFMAN R. Development, democracy, and welfare state: Latin America, East Asia, and Eastern Europe. Princeton: Princeton University Press, 2008./*ref*/HATZIGEORGIOU E., POLATIDIS H., HARALAMBOPOULOS D.CO2 emissions, GDP, and energy intensity: a multivariate cointegration and causality analysis for Greece, 1977-2007. Applied Energy, v., 88, n.4, p.1377-1385,2011./*ref*/KAIS S., MBAREK M.B.Dynamic relationship between CO2 emissions, energy consumption and economic growth in three North African countries. International Journal of Sustainable Energy, v. 36, n.9, p.840-854, 2017./*ref*/KOENGKAN M. Is the globalization influencing the primary energy consumption? The case of Latin America and the Caribbean countries. Cadernos UniFOA, Volta Redonda, v. 12, n.33, p.59-69, 2017a./*ref*/KOENGKAN M. The nexus between consumption of biofuels and economic growth: An empirical evidence from Brazil. Cadernos UniFOA, Volta Redonda, v.12, n.35, p.87-98, 2017c./*ref*/KOENGKAN M.O nexo entre o consumo de energia primária e o crescimento econômico nos países da América do Sul: Uma análise de longo prazo. Cadernos UniFOA, Volta Redonda, v.12, n.34, p.56-66, 2017b./*ref*/KOENGKAN M.The decline of environmental degradation by renewable energy consumption in the MERCOSUR countries: an approach with ARDL modeling. Environment Systems and Decisions, p.1-11,2018./*ref*/KOENGKAN M.The hydroelectricity consumption and economic growth nexus: A long time span analysis. Revista Brasileira de Energias Renováveis, v.6, n.4, p.678-704,2017d./*ref*/KOENGKAN M.The nexus between energy consumption, economic growth, and urbanization in Latin American and Caribbean countries: An approach with PVAR model. Revista Valore, v.6, n.2, p.202-218,2017e./*ref*/KOF (Globalization index) Available in: <https://www.kof.ethz.ch/en/forecasts-and-indicators/indicators/kof-globalisation-index.html>. Accessed in June 06, 2020./*ref*/LEE C.C. The causality relationship between energy consumption and GDP in G-11 countries revisited. Energy Policy, v.34, n.9, p.1086-1093,2006./*ref*/MENEGAKI A.N. Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, v.33, n.2, p.257-263,2011./*ref*/MENEGAKI A.N., MARQUES A.C., FUINHAS J.A. Redefining the energy-growth nexus with an index for sustainable economic welfare in Europe. Energy, v.141, p.1254-1268,2017./*ref*/MENEGAKI A.N., OZTURK I. Growth and energy nexus in Europe revisited: Evidence from a fixed effects political economy model. Energy Policy, v.61, p.881-887,2013./*ref*/NARAYAN P.K., POPP S.The energy consumption-real GDP nexus revisited: Empirical evidence from 93 countries. Economic Modelling, v.29, n.2, p.303-308,2012./*ref*/OMRI A, NGUYEN D.K., RAULT C.Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models. Economic Modelling, v.42, p.382-389,2014./*ref*/PESARAN M.H, SHIN Y., SMITH R.J. Bounds testing approaches to the analysis of level relationships. Journal Applied Econometrics, v.16, n.3, p.289-326,2001./*ref*/PESARAN M.H. A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, v.22, n.2, p.256–312,2007./*ref*/PESARAN M.H. General diagnostic tests for cross section dependence in panels. The University of Cambridge, Faculty of Economics. Cambridge Working Papers in Economics, n. 0435, 2004./*ref*/PINTO A., LAHERA E. Trade liberalization in the Latin America. CEPAL nº 50, p.41-62,1993./*ref*/RAHMAN S.M, MIAH M.D. The impact of sources of energy production on globalization: Evidence from panel data analysis. Renewable and Sustainable Energy Reviews, v.74, p.110-115,2017./*ref*/ROJAS E.J.G. Nación y nacionalismo en America Latina. Bogota, Colombia: Universidad Nacional de Colombia, Centro de Estudios Sociale, ps, p.1-276,2007./*ref*/SEBRI M., BEN-SALHA O. On the causal dynamics between economic growth, renewable energy consumption, CO2 emissions, and trade openness: Fresh evidence from BRICS countries. Renewable and Sustainable Energy Reviews, v.39, p.14-23,2014./*ref*/SHAHBAZ M, LAHIANI A, ABOSEDRA S., HAMMOUDEH S. The Role of Globalization in Energy Consumption: A Quantile Cointegrating Regression Approach. MPRA Paper No. 84682, p.1-36,2013./*ref*/SHAHBAZ M., SHAHBAZ S.J.H, MAHALIK M.K.,SADORSKY P. How strong is the causal relationship between globalization and energy consumption in developed economies? A country-specific time-series and panel analysis. Applied Economics Journal, v.50, n.13, p.1479-1494,2017./*ref*/SOYTAS U., SARI R.,EWING B.T. Energy consumption, income, and carbon emissions in the United States. Ecological Economics, v.62, p.482–489,2007./*ref*/THEODORE, J.D.The Process of globalization in Latin America. International Business & Economics Research Journal, v.14, n. 1, p.193-198,2015./*ref*/TUGCU, C.T., OZTURK I., ASLAN A. Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics, v.34, n.6, p.1942-1950,2012./*ref*/WHEELER, D. New Media Globalizing and Kuwaiti National Identity. Middle East Journal, v.54, p.:432-444,2000./*ref*/WOOLDRIDGE, J.M. Econometric analysis of cross section and panel data. The MIT Press Cambridge, Massachusetts London, England,2002./*ref*/WORLD BANK DATA (WBD). Available in:< http://databank.worldbank.org/data/home.aspx>. Accessed in June 06, 2020./*ref*/YAZDI S.K., SHAKOURI B. The globalization, financial development, renewable energy, and economic growth. Energy Sources, Part B: Economics, Planning, and Policy, v,12, n.8. p.704-714,2017.Direitos autorais 2020 Revista Valoreinfo:eu-repo/semantics/openAccess2021-01-20T03:27:16Zoai:valore.emnuvens.com.br:article/278Revistahttps://revistavalore.emnuvens.com.br/valore/indexPUBhttps://revistavalore.emnuvens.com.br/valore/oai||revistavalore@gmail.com|| marcus.barbosa1979@gmail.com|| felipetriani@gmail.com2526-043X2525-9008opendoar:2021-01-20T03:27:16Revista Valore (Online) - Faculdade Sul Fluminense (FASF)false |
| dc.title.none.fl_str_mv |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| title |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| spellingShingle |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index Koengkan, Matheus |
| title_short |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| title_full |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| title_fullStr |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| title_full_unstemmed |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| title_sort |
The energy-economic growth nexus in Latin American and the Caribbean countries: a new approach with globalisation index |
| author |
Koengkan, Matheus |
| author_facet |
Koengkan, Matheus Fuinhas, José Alberto Rosa, Simone Baptista |
| author_role |
author |
| author2 |
Fuinhas, José Alberto Rosa, Simone Baptista |
| author2_role |
author author |
| dc.contributor.none.fl_str_mv |
Funding: This study was funded by National Funds of the FCT – Portuguese Foundation for Science and Technology within the project UID/ECO/04007/2019, and NECE - Research Unit in Business Science and Economics, sponsored by the FCT and Higher Education, pr |
| dc.contributor.author.fl_str_mv |
Koengkan, Matheus Fuinhas, José Alberto Rosa, Simone Baptista |
| description |
This article inaugurates the study of the energy-economic growth nexus with a new approach with the introduction of globalisation index, in ten Latin American and the Caribbean countries from 1971-2014. The Autoregressive Distributed Lag (ARDL) and the Granger causality Wald test were used as a methodology. The empirical results pointed to the existence of a bidirectional relationship between economic growth and consumption of renewable energy, a unidirectional relationship from consumption of fossil to economic growth, and a bidirectional relationship between globalisation and consumption of renewable energy. That these results help the local governments develop new policies with the purpose of increases the consumption of renewable energy and reduces environmental degradation while promoting development. |
| publishDate |
2021 |
| dc.date.none.fl_str_mv |
2021-01-07 |
| dc.type.none.fl_str_mv |
|
| dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
| format |
article |
| status_str |
publishedVersion |
| dc.identifier.uri.fl_str_mv |
https://revistavalore.emnuvens.com.br/valore/article/view/278 10.22408/reva502020278e-5019 |
| url |
https://revistavalore.emnuvens.com.br/valore/article/view/278 |
| identifier_str_mv |
10.22408/reva502020278e-5019 |
| dc.language.iso.fl_str_mv |
por |
| language |
por |
| dc.relation.none.fl_str_mv |
https://revistavalore.emnuvens.com.br/valore/article/view/278/405 /*ref*/ACARAVCI A., OZTURK I. On the relationship between energy consumption, CO2 emissions and economic growth in Europe. Energy, v. 35, n.12, p.5412-5420, 2010. /*ref*/ANG J.B. (2007) CO2 emissions, energy consumption, and output in France. Energy Policy, v. 35, n. 10, p.4772-4778, 2007. /*ref*/APERGIS N., PAYNE J.E., MENYAH K.,WOLDE-RUFAEL Y.On the causal dynamics between emissions, nuclear energy, renewable energy, and economic growth. Ecological Economics, v. 69, n. 11, p. 2255-2260,2010. /*ref*/APERGIS N.,PAYNE J.E. Renewable energy consumption and economic growth: Evidence from a panel of OECD countries. Energy Policy, v. 38, n. 1., p.656-660,2010. /*ref*/BALZA L.H, ESPINASA R.,SEREBRISKY T. Lights on?: Energy Needs in Latin America and the Caribbean to 2040. Inter-American Development Bank, p.1-39, 2016. /*ref*/BREUSCH T.S.,PAGAN A.R. The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, v.47, n.1. p.239-253,1980. /*ref*/CARAIANI C., LANGU C.I., DASCALU C. Energy consumption and GDP causality: A three-step analysis for emerging European countries. Renewable and Sustainable Energy Reviews, v. 44, p. 198-210,2015. /*ref*/DESTEK M.A., ASLAN A. Renewable and non-renewable energy consumption and economic growth in emerging economies: Evidence from bootstrap panel causality. Renewable Energy, v.111, p.757-763,2017. /*ref*/FRIEDMAN M. The use of ranks to avoid the assumption of normality implicit in the analysis of variance. Journal of the American Statistical Association, v.32, p. 675-701, 1937. /*ref*/FUINHAS J.A., MARQUES A.C. An ARDL Approach to the Oil and Growth Nexus: Portuguese Evidence. Energy Sources, Part B: Economics, Planning, and Policy, v. 7, n.3, p.282-291,2011. /*ref*/FUINHAS J.A., MARQUES A.C.,KOENGKAN M. Are renewable energy policies upsetting carbon dioxide emissions? The case of Latin America countries. Environmental Science and Pollution Research, v. 24, n.17, p.15044–15054,2017. /*ref*/GREENE W.Econometric Analysis. Upper Saddle River, New Jersey: Prentice—Hall,2002. /*ref*/HAGGARD S., KAUFMAN R. Development, democracy, and welfare state: Latin America, East Asia, and Eastern Europe. Princeton: Princeton University Press, 2008. /*ref*/HATZIGEORGIOU E., POLATIDIS H., HARALAMBOPOULOS D.CO2 emissions, GDP, and energy intensity: a multivariate cointegration and causality analysis for Greece, 1977-2007. Applied Energy, v., 88, n.4, p.1377-1385,2011. /*ref*/KAIS S., MBAREK M.B.Dynamic relationship between CO2 emissions, energy consumption and economic growth in three North African countries. International Journal of Sustainable Energy, v. 36, n.9, p.840-854, 2017. /*ref*/KOENGKAN M. Is the globalization influencing the primary energy consumption? The case of Latin America and the Caribbean countries. Cadernos UniFOA, Volta Redonda, v. 12, n.33, p.59-69, 2017a. /*ref*/KOENGKAN M. The nexus between consumption of biofuels and economic growth: An empirical evidence from Brazil. Cadernos UniFOA, Volta Redonda, v.12, n.35, p.87-98, 2017c. /*ref*/KOENGKAN M.O nexo entre o consumo de energia primária e o crescimento econômico nos países da América do Sul: Uma análise de longo prazo. Cadernos UniFOA, Volta Redonda, v.12, n.34, p.56-66, 2017b. /*ref*/KOENGKAN M.The decline of environmental degradation by renewable energy consumption in the MERCOSUR countries: an approach with ARDL modeling. Environment Systems and Decisions, p.1-11,2018. /*ref*/KOENGKAN M.The hydroelectricity consumption and economic growth nexus: A long time span analysis. Revista Brasileira de Energias Renováveis, v.6, n.4, p.678-704,2017d. /*ref*/KOENGKAN M.The nexus between energy consumption, economic growth, and urbanization in Latin American and Caribbean countries: An approach with PVAR model. Revista Valore, v.6, n.2, p.202-218,2017e. /*ref*/KOF (Globalization index) Available in: <https://www.kof.ethz.ch/en/forecasts-and-indicators/indicators/kof-globalisation-index.html>. Accessed in June 06, 2020. /*ref*/LEE C.C. The causality relationship between energy consumption and GDP in G-11 countries revisited. Energy Policy, v.34, n.9, p.1086-1093,2006. /*ref*/MENEGAKI A.N. Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, v.33, n.2, p.257-263,2011. /*ref*/MENEGAKI A.N., MARQUES A.C., FUINHAS J.A. Redefining the energy-growth nexus with an index for sustainable economic welfare in Europe. Energy, v.141, p.1254-1268,2017. /*ref*/MENEGAKI A.N., OZTURK I. Growth and energy nexus in Europe revisited: Evidence from a fixed effects political economy model. Energy Policy, v.61, p.881-887,2013. /*ref*/NARAYAN P.K., POPP S.The energy consumption-real GDP nexus revisited: Empirical evidence from 93 countries. Economic Modelling, v.29, n.2, p.303-308,2012. /*ref*/OMRI A, NGUYEN D.K., RAULT C.Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models. Economic Modelling, v.42, p.382-389,2014. /*ref*/PESARAN M.H, SHIN Y., SMITH R.J. Bounds testing approaches to the analysis of level relationships. Journal Applied Econometrics, v.16, n.3, p.289-326,2001. /*ref*/PESARAN M.H. A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, v.22, n.2, p.256–312,2007. /*ref*/PESARAN M.H. General diagnostic tests for cross section dependence in panels. The University of Cambridge, Faculty of Economics. Cambridge Working Papers in Economics, n. 0435, 2004. /*ref*/PINTO A., LAHERA E. Trade liberalization in the Latin America. CEPAL nº 50, p.41-62,1993. /*ref*/RAHMAN S.M, MIAH M.D. The impact of sources of energy production on globalization: Evidence from panel data analysis. Renewable and Sustainable Energy Reviews, v.74, p.110-115,2017. /*ref*/ROJAS E.J.G. Nación y nacionalismo en America Latina. Bogota, Colombia: Universidad Nacional de Colombia, Centro de Estudios Sociale, ps, p.1-276,2007. /*ref*/SEBRI M., BEN-SALHA O. On the causal dynamics between economic growth, renewable energy consumption, CO2 emissions, and trade openness: Fresh evidence from BRICS countries. Renewable and Sustainable Energy Reviews, v.39, p.14-23,2014. /*ref*/SHAHBAZ M, LAHIANI A, ABOSEDRA S., HAMMOUDEH S. The Role of Globalization in Energy Consumption: A Quantile Cointegrating Regression Approach. MPRA Paper No. 84682, p.1-36,2013. /*ref*/SHAHBAZ M., SHAHBAZ S.J.H, MAHALIK M.K.,SADORSKY P. How strong is the causal relationship between globalization and energy consumption in developed economies? A country-specific time-series and panel analysis. Applied Economics Journal, v.50, n.13, p.1479-1494,2017. /*ref*/SOYTAS U., SARI R.,EWING B.T. Energy consumption, income, and carbon emissions in the United States. Ecological Economics, v.62, p.482–489,2007. /*ref*/THEODORE, J.D.The Process of globalization in Latin America. International Business & Economics Research Journal, v.14, n. 1, p.193-198,2015. /*ref*/TUGCU, C.T., OZTURK I., ASLAN A. Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries. Energy Economics, v.34, n.6, p.1942-1950,2012. /*ref*/WHEELER, D. New Media Globalizing and Kuwaiti National Identity. Middle East Journal, v.54, p.:432-444,2000. /*ref*/WOOLDRIDGE, J.M. Econometric analysis of cross section and panel data. The MIT Press Cambridge, Massachusetts London, England,2002. /*ref*/WORLD BANK DATA (WBD). Available in:< http://databank.worldbank.org/data/home.aspx>. Accessed in June 06, 2020. /*ref*/YAZDI S.K., SHAKOURI B. The globalization, financial development, renewable energy, and economic growth. Energy Sources, Part B: Economics, Planning, and Policy, v,12, n.8. p.704-714,2017. |
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