Effects of Biomasss Energy on Economic Growth: Panel ARDL Method
Posted: 9 Dec 2012 Last revised: 2 Apr 2013
Date Written: December 6, 2012
Abstract
It is investigated the cointegration and causality relationship of the biomass energy consumption and economic growth in the transition countries by the Panel ARDL method and Pedroni cointegration analysis. Analyzed countries are gathered under two group. For Group 1, Pedroni panel cointegration test and ARDL bound test results show that biomass energy consumption and economic growth are cointegrated. FMOLS results suggest that biomass energy consumption has positive effect on the economic growth.
Keywords: Biomass Energy, Economic Growth, Pedroni Cointegration, Panel ARDL, Granger Causality
JEL Classification: O40, Q41, Q43
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