Investigating the causal relationship between consumption of energy carriers and economic growth in all provinces of Iran (Granger-Hsiao, Toda and Yamamoto causality approach in panel data)
Author(s):
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
The main purpose of this study is to investigate the causal relationship between consumption of energy carriers and economic growth in all provinces of Iran over the period 2011-2018 using Hsiao’s Granger, and Toda and Yamamoto causality approach in panel data. In this regard, variables including gross domestic product, labor force, investment, unemployment rate and consumption of energy carriers (Oil, Gas, Petrol and Gasoline) have been used in the regression model. According to the estimation results, there is a unidirectional causality running from consumption of energy carriers to economic growth, so with an increase in consumption of energy carriers, economic growth increases. This one-way causality is confirmed in both approach. Therefore, according to the results of the research, the policy recommendation is that the government create jobs in the society by giving part of the development credits to the banks in case of the consumption of energy carriers, and cause the labor force employment in the society. The practical benefit of granting such an option is that the more people involved in the production of goods and services, the greater the economic growth.
Keywords:
Language:
Persian
Published:
Journal of Renewable and New Energy, Volume:9 Issue: 2, 2022
Pages:
1 to 8
https://magiran.com/p2487792
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