南亚国家能源消耗与经济增长共同协整的面板分析外文翻译.doc

南亚国家能源消耗与经济增长：共同协整的面板分析外文翻译 本科毕业论文外文翻译 外文题目:Energy Consumption And Ecomomic Growth In South Asian Countries: A Co-integrated Panel Analysis 出 处: International Journal of Business and Economic Sciences 2010(4): 245-250 作 者: S.Noor and M.W Siddiqi Energy Consumption and Economic Growth in South Asian Countries: A Co-integrated Panel Analysis S. Noor and M. W. Siddiqi Abstract This study examines causal link between energy use and economic growth for five South Asian countries over period 1971-2006. Panel cointegration, ECM and FMOLS are applied for short and long run estimates. In short run unidirectional causality from per capita GDP to per capita energy consumption is found, but not vice versa. In long run one percent increase in per capita energy consumption tend to decrease 0.13 percent per capita GDP. I.e. Energy use discourage economic growth. This short and long run relationship indicate energy shortage crisis in South Asia due to increased energy use coupled with insufficient energy supply. Beside this long run estimated coefficient of error term suggest that short term adjustment to equilibrium are driven by adjustment back to long run equilibrium. Moreover, per capita energy consumption is responsive to adjustment back to equilibrium and it takes 59 years approximately. It specifies long run feedback between both variables. 1. Introduction Energy is the engine of economic growth, as many production and consumption activities involve energy as basic input. On production side, conventionally economists since Adam Smith have talked about land, labor, and capital as major inputs for economic activity. These inputs were significant ingredients of agrarian economies of 17th and 18th centuries. However, in 19th century, the growth of industrial nations has observed a fourth major input that is energy. On consumption side, in the Keynesian framework where consumption and income are significantly correlated, similarly energ