Causal Relationships between Energy Consumption, Foreign Direct Investment and Economic Growth: Fresh Evidence from Dynamic Simultaneous-Equations Models

Anis Omri, Kahouli Bassem
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引用次数: 264

Abstract

This paper examines the interrelationships between energy consumption, foreign direct investment and economic growth using dynamic panel data models in simultaneous-equations for a global panel consisting of 65 countries. The time component of our dataset is 1990-2011 inclusive. To make the panel data analysis more homogenous, we also investigate this interrelationship for a number of sub-panels which are constructed based on the income level of countries. In this way, we end up with three income panels; namely, high income, middle income, and low income panels. In the empirical part, we draw on growth theory and augment the classical growth model, which consists of capital stock, labor force and inflation, with foreign direct investment and energy. Generally, we shows mixed results about the interrelationship between energy consumption, FDI and economic growth.
能源消费、外国直接投资与经济增长的因果关系:来自动态联立方程模型的新证据
本文采用动态面板数据模型对65个国家的能源消费、外国直接投资和经济增长之间的相互关系进行了研究。我们数据集的时间部分是1990-2011年。为了使面板数据分析更加均匀,我们还研究了基于国家收入水平构建的若干子面板的这种相互关系。这样,我们就有了三个收入小组;即高收入、中等收入和低收入小组。在实证部分,我们借鉴增长理论,在由资本存量、劳动力和通货膨胀构成的经典增长模型的基础上,加入外商直接投资和能源。总体而言,我们对能源消耗、FDI和经济增长之间的相互关系给出了好坏参半的结果。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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