Energy Consumption and Performance of Sectoral Outputs: Results from an Energy-Impoverished Economy
Abstract
This paper is directed at exploring the relationship among energy consumption, disaggregated sectoral output (GDP) and economic growth in Nigeria using time series data. The study applied a plethora of estimation techniques (multivariate unit root, Johansen cointegration and Granger causality tests). The study found that energy consumption has enhanced the performance of agriculture, health, manufacturing, utilities, finance and transport sectors in Nigeria during the period under consideration. Long-run energy consumption was found to be detrimental to the performance of administration output (GDP). The study recommends that energy consumption should be encouraged essentially for sectoral and industrial purposes (the production of intermediate goods and services) and not only for household consumption.
References
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[41] Murray, D.A. and Nan, G.D. 1992. The Energy and Employment Relationship: A Clarification. Journal of Energy and Development, 16: 121–131.
[42] Murray, D.A. and Nan, G.D. 1996. A Definition of the Gross Domestic Product-Electrification Interrelationship. Journal of Energy and Development, 19: 275–283.
[43] Narayan, P.K. and Smyth, R. 2005. Electricity Consumption, Employment and Real Income in Australia: Evidence from Multivariate Granger Causality Tests. Energy Policy, 33: 1109–1116.
[44] Narayan, P.K. and Prasad, A. 2008. Electricity Consumption-Real GDP Causality Nexus: Evidence from a Bootstrapped Causality Test for 30 OECD Countries. Energy Policy, 36: 910–918.
[45] Oh, W. and Lee, K. 2004. Causal Relationship between Energy Consumption and GDP Revisited: The Case of Korea 1970-1999.
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[51] Sari, R., Ewing, B.T. and Soytas, U. 2008. The Relationship Between Disaggregate Energy Consumption and Industrial Production in the United States: An ARDL Approach. Energy Economics 30: 2302–2313.
[52] Sorytas, U. and Sari, R. 2003. Energy Consumption and GDP: Causality Relationship in G-7 Countries and Emerging Markets. Energy Economics, 25(1): 33-37.
[53] Soytas, U. and Sari, R. 2006. Energy consumption and income in G7 countries. Journal of Policy Modeling, 28: 739–750.
[54] Soytas, U., Sari, R. and Ewing, B. T. 2007. Energy consumption, Income, and Carbon Emissions in the United States. Ecological Economics 62: 482–489.
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[56] Stern, D.I. 1993. Energy and economic growth in the USA, a multivariate approach. Energy Economics, 15: 137–150.
[57] Stern, D.I. 2000. A Multivariate Cointegration Analysis of the Role of Energy in the US Economy. Energy Economics, 22: 267–283.
[58] Thoma, M. 2004. Electrical energy usage over the business cycle. Energy Economics, 26: 363–385.
[59] Voivodas, C. S. 1974. Exports, Foreign Capital Inflow, and South Korean Growth. Economic Development and Cultural Change, 22: 480-4.
[60] Wolde-Rufael, Y. 2005. Energy demand and economic growth: the African experience 19 countries. Journal of Policy Modeling 27: 891–903.
[61] Yang, H. Y. 2000. A Note on the Causal Relationship between Energy and GDP in Taiwan, Energy Economics, 22(3): 309-317.
[62] Yang, Z., S. Shao, L. Yang, Z. Miao 2018. Improvement Pathway of Energy Consumption Structure in China’s Industrial Sector: From the Perspective of Directed Technical Change. Energy Economics, doi:10.1016/j.eneco.2018.04.003
[63] Yu, E. S. and Choi, J. Y. 1985. The Causal Relationship between Energy and GNP. An International Comparison. Journal of Energy Development, 10(2): 249-272.
[64] Yu, E. S. and Hwang, B. 1984. On the Relationship of Energy and GNP, further Results. Energy Economics 10(1): 186-190.
[65] Yu, E.S.H. and Jin, J.C. 1992. Cointegration tests of energy consumption, income, and employment. Resources and Energy, 14(3): 259–266.
[66] Yu, E.S.H., Chow, P.C.Y. and Choi, J.Y. 1988. The Relationship between Energy and Employment: A Re-examination. Energy Systems and Policy, 11: 287–295.
[67] Zachariadis, T. 2007. Exploring the Relationship between Energy Use and Economic Growth with Bivariate Models: New Evidence from G-7 Countries. Energy Economics, 29(6): 1233–1253
[68] Zarnikau, J. 1997. A reexamination of the causal relationship between energy consumption and gross national product. Journal of Energy and Development 21: 229–239.
[69] Ziaei, S.M. 2018. US Interest Rate Spread and Energy Consumption by Sector (Evidence of Pre and Post Implementation of the Fed's LSAPs Policy, Energy Reports 4(2018)288-302 https://doi.org/10.1016/j.egyr.2018.03.004
[2] Abou-Strait 2005. Are Exports the Engine of Economic Growth? An Application of Cointegration and Causality Analysis for Egypt, 1977-2003. African Development Bank Economic Research Working Paper, No. 76 Tunisia.
[3] African Development Bank 1996. The Electricity Sub-Sector in Africa. Africa Energy Programme Energy Sector Technical Paper Series No. ESI, ADB Abidjan.
[4] Ageel, A. And Butt, M. S. 2001. The Relationship between Energy Consumption and Economic Growth in Pakistan. Asia-Pacific Development Journal, 8(2): 101-110.
[5] Akarca, A.T. and Long, T.V. 1979. Energy and Employment: A Time Series Analysis of the Causal Relationship. Resources and Energy, 2: 151–162.
[6] Akarca, A.T., and Long, T.V. 1980. On the Relationship between Energy and GNP: A Re-examination. Journal of Energy and Development, 5: 326–331.
[7] Anyanwu, J. C.; Oaikhenan, H.; Oyefusi, A. and Dimowo, F. A. 1997. The Structure of the Nigerian Economy (1960-1997) Benin: Joanne Educational Publishers.
[8] Ben-Salha, O., Hkiri, B., and Aloui , C. 2018 Sectoral Energy Consumption by Source and Output in the U.S.: New Evidence from Wavelet-based Approach. doi:10.1016/j.eneco.2018.03.029
[9] Blumenthal, T. 1972. Exports and Economic Growth: The Case of Post-War Japan. Quarterly Journal of Economic, 86: 617-31.
[10] Bowden, N. and Payne, J.E. 2008. The Causal Relationship between U.S. Energy Consumption and Real Output: A Disaggregated Analysis. Journal of Policy Modeling, 31: 180–188.
[11] Chang, T.; Fang, W. And Wen L. F. 2001. Energy Consumption, Employment, Output and Thuporal Causality: Evidence from Yaiwan based on Cointegration and Error Correction Modelling Techniques. Applied Economics, 3: 1045-1056.
[12] Cheng, B.S. 1996. An Investigation of Cointegration and Causality between Energy Consumption and Economic Growth. Journal of Energy and Development, 21: 73–84.
[13] Chiou-Wei, S.Z., Chen, C.F. and Zhu, Z. 2008. Economic Growth and Energy Consumption: Evidence from Linear and Nonlinear Granger Causality. Energy Economics, 30: 3063–3076.
[14] Chontanawat, J., Hunt, L.C. and Pierse, R. 2006. Causality between Energy Consumption and GDP: Evidence from 30 OECD and 78 non-OECD Countries. Surrey Energy Economics Discussion Paper Series 113.
[15] Chontanawat, J., Hunt, L.C. and Pierse, R. 2008. Does Energy Consumption Cause Economic Growth? Evidence from a Systematic Study of over 100 countries. Journal of Policy Modeling 30: 209–220.
[16] Cipher, J. M. and Dietz, J. L. 1997. The Process of Economic Development. London: Routledge.
[17] Erol, U. and Yu, E. 1987a. Time Series Analysis of the Causal Relationship between US, Energy and Development Resource Energy, 9: 75-89.
[18] Erol, U., and Yu, E.S.H. 1987b. On the causal relationship between energy and income for industrialized countries. Journal of Energy and Development, 13:113–122.
[19] Erol, U., and Yu, E.S.H. 1989. Spectral Analysis of the Relationship between Energy Consumption, Employment and Business Cycles. Resources and Energy, 11: 395–412.
[20] Fajana, O. 1979. Trade and Growth: the Nigerian Experience. World Development, 7: 73-78.
[21] Fatai, K. L.; Oxley and Scrimgeour, F. G. 2004. Modelling the Causal Relationship between Energy Consumption and GDP in New Zealand, Australia India, Indonesia, the Philippines and Thailand Mathematical Computer Simulation, 64: 431-445.
[22] Firoozi, F. AND Lien, D. 2011. A Procedure for Testing Granger Causality of Infinite Order, International Journal of Business and Economics, 10(2): 165-170.
[23] Ghali, K. H. and El-Sakka, M. I. T. 2004. Energy use and Output Growth Canada. A Multivariate Cointegration Analysis Energy Economics, 26: 225-238.
[24] Glasure, Y.U. and Lee, A.R. 1996. The Macroeconomic Effects of Relative Prices, Money, and federal spending on the Relationship between U.S. Energy Consumption and Employment. Journal of Energy and Development, 22: 81–91.
[25] Glausure, Y. U. and Lee, A. R. 1997. Cointegration, Error Correction and the Relationship between GDP and Energy. The Case of South Korea and Singapore. Resources Energy Economics, 24(4) 355-365.
[26] Guilkey, D.K., and Salemi, M.K. 1982. Small Sample Properties of Three Tests for Granger-Causal Ordering in a Bivariate Stochastic System, Review of Economics and Statistics, 64(4): 668-680.
[27] Guttomsen, A. G. 2004. Causality between Energy Consumption and Economic Growth. Department of Economics and Resources Management of the Agricultural University of Norway. Discussion Paper No. D-24/2004.
[28] Hondroyiannis, G., Lolos, S. and Papapetrou, E. 2002. Energy Consumption and Economic Growth: Assessing the Evidence from Greece. Energy Economics, 24, 319 – 336
[29] Holtz-Eakin, D., Newey, W., Rosen, H., 1998. Estimating Vector Autoregression with Panel Data. Econometrica 56, 1371–1385.
[30] Ishioro, B. O. 2013b. Monetary transmission mechanism in Nigeria: A Causality test. Mediterranean Journal of Social Sciences, 4(13): 377.
[31] Iwayemi, A. 1983. Energy in West Africa; Energy Policy pp 235-249.
[32] Iwayemi, A. 1993. Energy Development and Sub-Saharan African Economics in a Global Perspective, Organisation of Petroleum Exporting Countries (OPEC) Review, Spring, pp 29-45.
[33] Iwayemi, A. 1998. Energy Sector Development in Africa. Background Paper Prepared for the African Development Report.
[34] Iyoha, M. A. 1995. “Traditional and Contemporary Theories of External Trade”. Ekpo A. (ed), External trade and Economics Development in Nigeria. Selected Papers for the 1995 Annual Conference of the Nigerian Economic Society. Pp 1-23.
[35] Kraft, J. and Kraft, A. 1978. On the Relationship between Energy and GNP. Journal of Energy Development, 3(2): 326-331.
[36] Kwiatkowski, D.; Phillips, P. C. B.; Schmidt, P. and Shin, Y. 1992. Testing the Null Hypothesis of Stationarity against the Alternative of A Unit Root: How Sure Are We That Economic Time Series Have A Unit Root? Journal of Econometrics 54: 159-178
[37] Lee, C.C. 2006. The Causality Relationship between Energy Consumption and GDP in G-11 Countries Re-visited. Energy Policy 34(9): 1086–1093.
[38] Mahadevan, R. and Asafu-Adjaye, J. 2007. Energy Consumption, Economic Growth and Prices: A Re-assessment using Panel VECM for Developed and Developing Countries. Energy Policy, 35: 2481–2490.
[39] Maizels, A. 1963. Industrial Growth and World Trade. Cambridge: Cambridge University Press.
[40] Masih, A. and Masih, R. 1996. Energy Consumption, Real Income and Temporal Causality: Results from a Multi-Country Study based on Cointegration and Error-correction Modeling Techniques. Energy Economics 18: 165–183.
[41] Murray, D.A. and Nan, G.D. 1992. The Energy and Employment Relationship: A Clarification. Journal of Energy and Development, 16: 121–131.
[42] Murray, D.A. and Nan, G.D. 1996. A Definition of the Gross Domestic Product-Electrification Interrelationship. Journal of Energy and Development, 19: 275–283.
[43] Narayan, P.K. and Smyth, R. 2005. Electricity Consumption, Employment and Real Income in Australia: Evidence from Multivariate Granger Causality Tests. Energy Policy, 33: 1109–1116.
[44] Narayan, P.K. and Prasad, A. 2008. Electricity Consumption-Real GDP Causality Nexus: Evidence from a Bootstrapped Causality Test for 30 OECD Countries. Energy Policy, 36: 910–918.
[45] Oh, W. and Lee, K. 2004. Causal Relationship between Energy Consumption and GDP Revisited: The Case of Korea 1970-1999.
[46] Palley, T. 1999. The Economic Case for International Labour Standards: Theory and some Evidence Economic Policy Paper, Public Policy Department, AFL-C10, Washington, D.C.
[47] Palley, T. 2002. Economic Contradiction Coming Home to Roost? Does the U.S. Face a Long Term Aggregate Demand Generation Problem? Journal of Post Keynesian Economics 25: 9-32.
[48] Payne, J.E. and Taylor, J.P. 2008. Nuclear Energy Consumption and Economic Growth in the U.S.: An Empirical Note. Energy Sources, Part B: Economics, Planning, and Policy, in Press.
[49] Payne, J.E. 2008a. Survey of the International Evidence on the Causal Relationship between Energy Consumption and Growth. Journal of Economic Studies, in Press.
[50] Payne, J.E. 2008b. On the Dynamics of Energy Consumption and Output in the U.S. Applied Energy, in press.
[51] Sari, R., Ewing, B.T. and Soytas, U. 2008. The Relationship Between Disaggregate Energy Consumption and Industrial Production in the United States: An ARDL Approach. Energy Economics 30: 2302–2313.
[52] Sorytas, U. and Sari, R. 2003. Energy Consumption and GDP: Causality Relationship in G-7 Countries and Emerging Markets. Energy Economics, 25(1): 33-37.
[53] Soytas, U. and Sari, R. 2006. Energy consumption and income in G7 countries. Journal of Policy Modeling, 28: 739–750.
[54] Soytas, U., Sari, R. and Ewing, B. T. 2007. Energy consumption, Income, and Carbon Emissions in the United States. Ecological Economics 62: 482–489.
[55] Stern, D.I. and Cleveland, C.J. 2003. Energy and economic growth. Rensselaer Working Papers in Economics, p. 0410.
[56] Stern, D.I. 1993. Energy and economic growth in the USA, a multivariate approach. Energy Economics, 15: 137–150.
[57] Stern, D.I. 2000. A Multivariate Cointegration Analysis of the Role of Energy in the US Economy. Energy Economics, 22: 267–283.
[58] Thoma, M. 2004. Electrical energy usage over the business cycle. Energy Economics, 26: 363–385.
[59] Voivodas, C. S. 1974. Exports, Foreign Capital Inflow, and South Korean Growth. Economic Development and Cultural Change, 22: 480-4.
[60] Wolde-Rufael, Y. 2005. Energy demand and economic growth: the African experience 19 countries. Journal of Policy Modeling 27: 891–903.
[61] Yang, H. Y. 2000. A Note on the Causal Relationship between Energy and GDP in Taiwan, Energy Economics, 22(3): 309-317.
[62] Yang, Z., S. Shao, L. Yang, Z. Miao 2018. Improvement Pathway of Energy Consumption Structure in China’s Industrial Sector: From the Perspective of Directed Technical Change. Energy Economics, doi:10.1016/j.eneco.2018.04.003
[63] Yu, E. S. and Choi, J. Y. 1985. The Causal Relationship between Energy and GNP. An International Comparison. Journal of Energy Development, 10(2): 249-272.
[64] Yu, E. S. and Hwang, B. 1984. On the Relationship of Energy and GNP, further Results. Energy Economics 10(1): 186-190.
[65] Yu, E.S.H. and Jin, J.C. 1992. Cointegration tests of energy consumption, income, and employment. Resources and Energy, 14(3): 259–266.
[66] Yu, E.S.H., Chow, P.C.Y. and Choi, J.Y. 1988. The Relationship between Energy and Employment: A Re-examination. Energy Systems and Policy, 11: 287–295.
[67] Zachariadis, T. 2007. Exploring the Relationship between Energy Use and Economic Growth with Bivariate Models: New Evidence from G-7 Countries. Energy Economics, 29(6): 1233–1253
[68] Zarnikau, J. 1997. A reexamination of the causal relationship between energy consumption and gross national product. Journal of Energy and Development 21: 229–239.
[69] Ziaei, S.M. 2018. US Interest Rate Spread and Energy Consumption by Sector (Evidence of Pre and Post Implementation of the Fed's LSAPs Policy, Energy Reports 4(2018)288-302 https://doi.org/10.1016/j.egyr.2018.03.004
Published
2019-03-04
How to Cite
ISHIORO, Bernhard.
Energy Consumption and Performance of Sectoral Outputs: Results from an Energy-Impoverished Economy.
Journal of Environmental Management and Tourism, [S.l.], v. 9, n. 7, p. 1539-1558, mar. 2019.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/2748>. Date accessed: 04 dec. 2024.
doi: https://doi.org/10.14505//jemt.9.7(31).17.
Section
Article
Copyright© 2024 The Author(s). Published by ASERS Publishing 2024. This is an open access article distributed under the terms of CC-BY 4.0 license.