Panel cointegration: Long-run relationship between internet, electricity consumption and economic growth. Evidence from OECD countries
INVESTIGACION ECONOMICA, vol.77, no.303, pp.161-176, 2018 (SSCI, Scopus)
- Publication Type: Article / Article
- Volume: 77 Issue: 303
- Publication Date: 2018
- Doi Number: 10.22201/fe.01851667p.2018.303.64158
- Journal Name: INVESTIGACION ECONOMICA
- Journal Indexes: Social Sciences Citation Index (SSCI), Scopus
- Page Numbers: pp.161-176
- Anadolu University Affiliated: No
Abstract
The linkage between electricity consumption, internet demand and economic growth is aimed to investigate in this study in 35 OECD countries for the period 1993-2014. Panel cointegration, Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS) and Dumitrescu-Hurlin causality tests were performed to capture the potential long-run and causal linkages among the three variables. The findings from the FMOLS and DOLS models indicate a positive linkage between electricity, internet demand and economic growth in the long-run. Results from the Dumitrescu-Hurlin causality confirm feedback causality between electricity consumption and internet demand and unilateral causality running from economic growth to electricity consumption.