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The role of energy in economic growth: the case of Croatia

Nela Vlahinić-Dizdarević orcid id orcid.org/0000-0002-2317-0446 ; Ekonomski fakultet Sveučilišta u Rijeci, Rijeka, Hrvatska
Saša Žiković orcid id orcid.org/0000-0003-2021-4754 ; Ekonomski fakultet Sveučilišta u Rijeci, Rijeka, Hrvatska


Puni tekst: engleski pdf 1.976 Kb

verzije

str. 35-60

preuzimanja: 3.567

citiraj


Sažetak

The purpose of this research is to examine the causal relationship between energy and economic growth in Croatia using data for the period from 1993 to 2006. We use a bivariate model of real GDP and five energy variables: energy consumption in industry and households, oil consumption, primary energy production and net energy imports. Since we found cointegration for all of the tested relationships, we use an Error Correction Model (ECM) which also allows us to distinguish between long and short term relationship among the variables.The empirical results provide clear support of causality that runs from real GDP growth to all energy variables. Our results differ from most of the studies analysing developing countries and are similar to those investigating developed, post-industrial economies with strong tertiary sector. Our research results reflect relatively low energy intensity in Croatia as a consequence of transition depression during the 1990s and the process of deindustrialization.

Ključne riječi

Energy; economic growth; Error Correction Model (ECM); Croatia

Hrčak ID:

54096

URI

https://hrcak.srce.hr/54096

Datum izdavanja:

20.6.2010.

Podaci na drugim jezicima: hrvatski

Posjeta: 5.043 *