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Article: The causal relationship between electricity consumption and economic growth in a Gaming and Tourism Center: The case of Macao SAR, the People’s Republic of China

TitleThe causal relationship between electricity consumption and economic growth in a Gaming and Tourism Center: The case of Macao SAR, the People’s Republic of China
Authors
KeywordsElectricity consumption
Economic growth
Vector error correction model
Issue Date2011
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/energy
Citation
Energy, 2011, v. 36 n. 2, p. 1134-1142 How to Cite?
AbstractA number of Asian cities decided to establish gaming and resort facilities in order to capitalize on the growing number of gamblers and their family members in Asia. In doing so, they expect to sustain economic growth but, on the other hand, will consume a considerable amount of energy. Nevertheless, the causal relationship between economic growth and electricity consumption in this type of service-oriented territories has never been investigated. Using the historical data obtained from the Government of Macao SAR, we found that electricity consumption and economic growth in terms of gross domestic product are co-integrated for the period of 1999 Quarter 1–2008 Quarter 4. Moreover, vector error correction (VEC) models indicated a lack of short-run relationships but showed that there was a long-run equilibrium relationship between electricity consumption and gross domestic product. The accuracy of VEC models was assessed by using the mean squared error and the mean absolute error. The error analysis shows that VEC models reproduced time series of gross domestic product and electricity consumption in difference form accurately.
Persistent Identifierhttp://hdl.handle.net/10722/174117
ISSN
2015 Impact Factor: 4.292
2015 SCImago Journal Rankings: 2.350
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorLai, TMen_US
dc.contributor.authorTo, WMen_US
dc.contributor.authorLo, WCen_US
dc.contributor.authorChoy, YSen_US
dc.contributor.authorLam, KHen_US
dc.date.accessioned2012-11-16T03:35:04Z-
dc.date.available2012-11-16T03:35:04Z-
dc.date.issued2011en_US
dc.identifier.citationEnergy, 2011, v. 36 n. 2, p. 1134-1142en_US
dc.identifier.issn0360-5442en_US
dc.identifier.urihttp://hdl.handle.net/10722/174117-
dc.description.abstractA number of Asian cities decided to establish gaming and resort facilities in order to capitalize on the growing number of gamblers and their family members in Asia. In doing so, they expect to sustain economic growth but, on the other hand, will consume a considerable amount of energy. Nevertheless, the causal relationship between economic growth and electricity consumption in this type of service-oriented territories has never been investigated. Using the historical data obtained from the Government of Macao SAR, we found that electricity consumption and economic growth in terms of gross domestic product are co-integrated for the period of 1999 Quarter 1–2008 Quarter 4. Moreover, vector error correction (VEC) models indicated a lack of short-run relationships but showed that there was a long-run equilibrium relationship between electricity consumption and gross domestic product. The accuracy of VEC models was assessed by using the mean squared error and the mean absolute error. The error analysis shows that VEC models reproduced time series of gross domestic product and electricity consumption in difference form accurately.en_US
dc.languageengen_US
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/energyen_US
dc.relation.ispartofEnergyen_US
dc.subjectElectricity consumptionen_US
dc.subjectEconomic growthen_US
dc.subjectVector error correction modelen_US
dc.titleThe causal relationship between electricity consumption and economic growth in a Gaming and Tourism Center: The case of Macao SAR, the People’s Republic of Chinaen_US
dc.typeArticleen_US
dc.identifier.emailLam, KH: khlam@eee.hku.hken_US
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.energy.2010.11.036en_US
dc.identifier.scopuseid_2-s2.0-79551520286-
dc.identifier.hkuros212405en_US
dc.identifier.volume36en_US
dc.identifier.issue2en_US
dc.identifier.spage1134en_US
dc.identifier.epage1142en_US
dc.identifier.isiWOS:000288102600047-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.citeulike8678296-

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