%0 Journal Article
%T Energy Consumption and Growth in Romania: Evidence from a Panel Error Correction Model
%A Nicholas Apergis
%A Dan Danuletiu
%J International Journal of Energy Economics and Policy
%D 2012
%I EconJournals
%X This study examines the relationship between energy consumption and economic growth for the economy of Romania over the period 2000-2011 within a multivariate framework. A cointegration and error correction model is employed to infer the causal relationship. Cointegration test reveals a long-run equilibrium relationship between real GDP, energy consumption, the labor force, and real gross fixed capital formation with the respective coefficients positive and statistically significant. The Granger-causality results indicate both short-run and long-run causality from energy consumption to economic growth which supports the growth hypothesis.
%K Energy consumption
%K Growth
%K Cointegration tests
%K Granger-causality
%U http://econjournals.com/index.php/ijeep/article/view/316/161