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Article: Short- and long-run effects between oil consumption and economic growth in China

TitleShort- and long-run effects between oil consumption and economic growth in China
Authors
KeywordsCointegration
Granger causality
Oil consumption
Issue Date2006
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/enpol
Citation
Energy Policy, 2006, v. 34 n. 18, p. 3644-3655 How to Cite?
AbstractThis paper examines both the equilibrium relationship and the predictability between oil consumption and economic growth in China. Time series variables are employed in empirical tests. Cointegration tests suggest that these two variables tend to move together in the long run. In addition, Granger causality tests indicate that oil consumption could be a useful factor that forecasts changes in the economy in the short run as well as in the long run. The oil consumption is found to have great effects on the economy. This is because the enormous use of oil in sectors like the industry may have directly pushed the economy. However, this finding would probably stimulate faster growth in oil consumption and so should be concerned with care. Conversely, economic growth could be used as a predictive factor forecasting oil consumption only in the long run. Economic growth appears to have small effects on oil use; this could be attributed largely to China's energy consumption structure. Coal constitutes most of the energy consumption and thus the considerable demand for energy resulting from rapid economic growth could be mostly explained by the mass use of coal. © 2005 Elsevier Ltd. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/81965
ISSN
2015 Impact Factor: 3.045
2015 SCImago Journal Rankings: 2.436
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorZou, Gen_HK
dc.contributor.authorChau, KWen_HK
dc.date.accessioned2010-09-06T08:23:56Z-
dc.date.available2010-09-06T08:23:56Z-
dc.date.issued2006en_HK
dc.identifier.citationEnergy Policy, 2006, v. 34 n. 18, p. 3644-3655en_HK
dc.identifier.issn0301-4215en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81965-
dc.description.abstractThis paper examines both the equilibrium relationship and the predictability between oil consumption and economic growth in China. Time series variables are employed in empirical tests. Cointegration tests suggest that these two variables tend to move together in the long run. In addition, Granger causality tests indicate that oil consumption could be a useful factor that forecasts changes in the economy in the short run as well as in the long run. The oil consumption is found to have great effects on the economy. This is because the enormous use of oil in sectors like the industry may have directly pushed the economy. However, this finding would probably stimulate faster growth in oil consumption and so should be concerned with care. Conversely, economic growth could be used as a predictive factor forecasting oil consumption only in the long run. Economic growth appears to have small effects on oil use; this could be attributed largely to China's energy consumption structure. Coal constitutes most of the energy consumption and thus the considerable demand for energy resulting from rapid economic growth could be mostly explained by the mass use of coal. © 2005 Elsevier Ltd. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/enpolen_HK
dc.relation.ispartofEnergy Policyen_HK
dc.subjectCointegrationen_HK
dc.subjectGranger causalityen_HK
dc.subjectOil consumptionen_HK
dc.titleShort- and long-run effects between oil consumption and economic growth in Chinaen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0301-4215&volume=34&spage=3644&epage=3655&date=2006&atitle=Short-+and+long-run+effects+between+oil+consumption+and+economic+growth+in+Chinaen_HK
dc.identifier.emailChau, KW:hrrbckw@hkucc.hku.hken_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.enpol.2005.08.009en_HK
dc.identifier.scopuseid_2-s2.0-33745603392en_HK
dc.identifier.hkuros139032en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33745603392&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume34en_HK
dc.identifier.issue18en_HK
dc.identifier.spage3644en_HK
dc.identifier.epage3655en_HK
dc.identifier.isiWOS:000242033900027-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridZou, G=15020096200en_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK

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