Energy Consumption and Economic Growth: Evidence from Cameroon
Fondja Wandji, Yris D. (2013), Energy Consumption and Economic Growth: Evidence from Cameroon, Energy Policy, 61, p. 1295-1304. http/dx.doi.org/10.1016/j.enpol.2013.05.115
TypeArticle accepté pour publication ou publié
Journal nameEnergy Policy
MetadataShow full item record
Author(s)Fondja Wandji, Yris D.
Abstract (EN)The aim of this paper is to study the nature of the relationship between energy consumption and economic growth in Cameroon through a three-step approach: (i) study the stationarity of the chronic, (ii) test of causality between variables, and (iii) estimate the appropriate model. The study concludes in a non-stationarity of the series. Using the data in first difference, the Granger causality test yields a strong evidence for unidirectional causality running from OIL to GDP. Cointegration tests also show that these two series are co-integrated and the error correction model (ECM) reveals that every percentage increase in oil products consumption increases economic growth by around 1.1%. This result confirms the intuition that an economic policy aimed at improving energy supply will necessarily have a positive impact on economic growth. On the other side, a lack of energy is a major bottleneck for further economic development in Cameroon.
Subjects / KeywordsDevelopment; Economic Growth; Energy; GDP; Growth; Oil
Showing items related by title and author.
Firewood Collections And Economic Growth In Rural Nepal 1995-2010 : Evidence From A Household Panel Baland, Jean-Marie; Libois, François; Mookherjee, Dilip (2013) Document de travail / Working paper