Natural Gas Consumption and Economic Growth in Korea: A Causality Analysis

Title
Natural Gas Consumption and Economic Growth in Korea: A Causality Analysis
Authors
임혜진유승훈
Keywords
causality; economic growth; Korea; natural gas consumption; vector errorcorrection model
Issue Date
2012-06
Publisher
Energy sources. Part B, Economics, planning and policy.
Citation
VOL 7, NO 2, 169-176
Abstract
This article investigates the short- and long-run causality issues between natural gas consumption and economic growth in Korea by applying time-series techniques. It employs quarterly data covering the period 1991–2008. Tests for unit roots, co-integration, and Granger-causality based on the multivariate vector errorcorrection models are presented. The results show that there is bidirectional causality between natural gas consumption and economic growth in Korea. This means that an increase in natural gas consumption directly affects economic growth and that economic growth also stimulates further natural gas consumption.
URI
http://pubs.kist.re.kr/handle/201004/45648
ISSN
1556-7249
Appears in Collections:
KIST Publication > Article
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