scholarly journals Climate Adaptive Response Estimation: Short And Long Run Impacts Of Climate Change On Residential Electricity and Natural Gas Consumption Using Big Data

2018 ◽  
Author(s):  
Maximilian Auffhammer
Keyword(s):  
Climate Change ◽  
Big Data ◽  
Natural Gas ◽  
Adaptive Response ◽  
Long Run ◽  
Residential Electricity ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
Impacts Of Climate Change

Price and Income Elasticities of Natural Gas Demand in Egypt: A Bound Test Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Markos Farag ◽  
Chahir Zaki
Keyword(s):  
Natural Gas ◽  
Economic Activity ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Long Run ◽  
Short Run ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
Natural Gas Demand ◽  
Income And Price Elasticities

Abstract This paper provides short and long-run estimates of price and income elasticities of Egypt’s natural gas demand using the ARDL bounds testing approach to cointegration over the period 1983–2015. The results show that the long-run income and price elasticities, in absolute values, are greater than their counterparts in the short run. This result is due to the fact that consumers can modify their consumption habits and plans in the long run as a response to changes in the income or the price. Moreover, natural gas demand is more responsive to changes in income than changes in price in both the short and long run. Finally, the study examines the causality relationship between natural gas consumption and economic growth for the gas-consuming sectors in Egypt. The results indicate that there is no causal relationship between the two variables for the electricity, petroleum, and household sectors in the short-run. By contrast, there is a unidirectional causality running from natural gas consumption to the economic activity of the transportation sector and a unidirectional causality running from economic activity to natural gas consumption by the industry sector.

Natural gas consumption and economic growth nexus: an investigation for France

2019 ◽  
Vol 14 (2) ◽  
pp. 261-284
Author(s):  
Sahbi Farhani ◽  
Mohammad Mafizur Rahman
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Causal Relation ◽  
Causality Analysis ◽  
Bounds Testing ◽  
Content Type ◽  
Long Run ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
The Relationship

Purpose The purpose of this study is to investigate the relationship between natural gas consumption and economic growth of France. Design/methodology/approach To analyze the relationship, an extended Cobb–Douglas production function is used. The auto-regressive distributive lag bounds testing approach is applied to test the existence of the long-run relationship between the series. The vector error correction model Granger causality approach is implemented to detect the direction of causal relation between the variables. Findings The results show that variables are cointegrated for the long-run relationship. They also indicate that natural gas consumption, exports, capital and labor are the contributing factors to economic growth in France. The causality analysis indicates that feedback hypothesis is validated between gas consumption and economic growth. The bidirectional causality is also found between exports and economic growth, gas consumption and exports and capital and gas consumption. Research limitations/implications The feedback hypothesis between gas consumption and economic growth implies that adoption of energy conservation policies should be discouraged; rather, gas consumption and economic growth policies should be jointly implemented. Originality/value This study is an original work for France and shows the results of the relationship between natural gas consumption and economic growth. In line with the results of this study, new direction for policy makers is opened up to formulate a comprehensive energy policy to sustain long-term economic growth in France.

Natural Gas Consumption and Economic Growth in Pakistan: Production Function Approach

2017 ◽  
Vol 19 (2) ◽  
pp. 297-310 ◽  
Author(s):  
Muhammad Shahid Hassan ◽  
Muhammad Naveed Tahir ◽  
Ayesha Wajid ◽  
Haider Mahmood ◽  
Abdul Farooq
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Granger Causality ◽  
Conservation Strategies ◽  
Annual Data ◽  
Long Run ◽  
Production Function Approach ◽  
Gas Consumption ◽  
Likelihood Approach ◽  
Natural Gas Consumption

This study investigates the relationship between energy consumption and economic growth in case of Pakistan using annual data from 1977 to 2013. Using Johansen maximum likelihood approach to estimate the long-run relationship and Granger causality to check the direction of causality, the study finds that the long-run relationship between natural gas consumption and economic growth is positive and statistically significant. Furthermore, the Granger causality shows that there exists energy-led growth hypothesis in Pakistan as Granger causality runs from energy to economic growth. The policy implication is that uninterrupted availability of energy is essential and conservation strategies could be harmful for the economic growth.

scholarly journals Probing the Energy-Environmental Kuznets Curve Hypothesis in Oil and Natural Gas Consumption Models Considering Urbanization and Financial Development in Middle East Countries

Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3178
Author(s):  
Haider Mahmood ◽  
Nabil Maalel ◽  
Muhammad Shahid Hassan
Keyword(s):  
Saudi Arabia ◽  
Natural Gas ◽  
Oil Consumption ◽  
Long Run ◽  
Negative Effect ◽  
Short Run ◽  
Oil And Natural Gas ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
Positive Effect

Economic growth, urbanization, and financial market development (FMD) may increase energy demand in any economy. Non-renewable sources of energy consumption, i.e., oil consumption and natural gas consumption (NGC), could have environmental consequences. We examine the effects of economic growth, urbanization, and FMD on the oil consumption and NGC in Middle East countries using the period 1975–2019. In the panel results, we found a positive effect of income and a negative effect of income-squared on oil and natural gas consumption. Hence, we corroborate the existence of the environmental Kuznets curve (EKC) hypothesis in oil and natural gas consumption models of the Middle East region. Urbanization has a positive effect on oil and natural gas consumption. FMD has a positive effect on oil consumption and has a negative effect on NGC. From the long-run, country-specific results, we validate the existence of the EKC hypothesis in the oil consumption models of Iran and Iraq. The EKC is also found in the natural gas consumption models of Iran, Kuwait, and the UAE. From the short-run results, the EKC hypothesis is validated in the oil consumption models of Iran, Iraq, and Israel. The EKC is also corroborated in the NGC models of Iran, Kuwait, and the UAE. In the long run, urbanization has a positive effect on oil consumption in Iraq, Kuwait, Saudi Arabia, and Qatar. Further, urbanization has a positive effect on the NGC in Iraq, Israel, and Saudi Arabia. Conversely, urbanization has a negative effect on oil consumption in Israel. In the short run, urbanization has a positive effect on oil consumption in Iraq, Israel, Kuwait, and Qatar. Moreover, urbanization has a positive effect on the NGC in Iraq. On the other hand, urbanization has a negative effect on oil consumption in Saudi Arabia and Iran. In the long run, FMD has a positive effect on oil consumption in Saudi Arabia and Israel. In the short run, FMD has a positive effect on oil consumption in Israel, Kuwait, and Saudi Arabia. In contrast, FMD has a negative effect on oil consumption in the UAE. Moreover, a positive effect of FMD on NGC is found in the UAE. However, FMD has a negative effect on the NGC in Israel.

STRUCTURAL BREAKS IN NATURAL GAS CONSUMPTION AND ECONOMIC GROWTH IN NIGERIA: EVIDENCE FROM NEW TIME SERIES TESTS THAT ALLOW FOR STRUCTURAL BREAKS

2019 ◽  
Vol 9 (1) ◽  
pp. 275-292
Author(s):  
Mukhtar Danladi Galadima ◽  
Abubakar Wambai Aminu
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Structural Breaks ◽  
Unit Root Test ◽  
Long Run ◽  
Lm Test ◽  
Gas Consumption ◽  
Trend Breaks ◽  
Natural Gas Consumption ◽  
The Relationship

This paper analyzed the issue of structural breaks in natural gas consumption and economic growth in Nigeria. The newly residual augmented least squares (RALS-LM) unit root test with breaks also known as “RALS-LM test with trend breaks and non-normal errors” proposed by Meng-Lee-Payne (2017) and the new structural breaks testing proposed by Kejriwal–Perron (2010) are among the tools used for the investi-gation. Our empirical findings provide significant evidence that the series of natural gas consumption and economic growth are stationary with one or two trend breaks. Furthermore, the investigation identified significant incidences of structural breaks in the relationship between natural gas consumption and economic growth in 1990, 2004, 2009 and all the break dates were found to be significant. The evaluation of the sub-sample periods based on the break dates revealed that the first and second breaks are potential while the last is destructive. Moreover, the estimate of the long-run elasticity is significant where a 1% increase in natural gas consumption induces the growth of Nigerian economy by 0.15% and all the dummies that represent the breakpoints are also significant where the 2004 break had a bigger effect among other breaks. The implication of the results is that shocks in the series of natural gas consumption and economic growth in Nigeria have transitory effect, modeling the relationship between natural gas consumption and economic growth in Nigeria without taking structural breaks into consideration could produce biased and unreliable statistical results, and there is economically significant dependence of the Nigerian economy on natural gas consumption.

scholarly journals An Analysis of The Asymmetric Effects of Natural Gas Consumption on Economic Growth in Pakistan: A Non-linear Autoregressive Distributed Lag Approach

2021 ◽  
Author(s):  
Hafiz M. Sohail ◽  
Zengfu Li ◽  
Muntasir Murshed ◽  
Alvarado Rafael ◽  
Haider Mahmood
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Financial Development ◽  
Energy Resource ◽  
The Other ◽  
Distributed Lag ◽  
Other Hand ◽  
Long Run ◽  
Gas Consumption ◽  
Natural Gas Consumption

Abstract Natural gas is an important energy resource that is used to produce the national output of Pakistan.On the other hand, since natural gas is a relatively cleaner energy resource compared to oil and coal, enhancing the level of natural gas use is believed to improve the environmental quality in Pakistan which, in turn, can be expected to enable the nation to sustain its economic performances. Hence, it is pertinent to assess the effects of natural gas consumption on the nation’s economic growth level.The main objective of this paper was to explore the asymmetric effects of natural gas consumption, controlling for financial development, on Pakistan's economic growth level over the 1965–2019 period. The results from the Augmented Dickey-Fuller, Phillips-Perron, and Zivot-Andrews unit root tests confirmed a mixed order of integration among the variables. Besides, the bounds test and Gregory-Hansen cointegration analysis revealed evidence of long-run associations between economic growth, natural gas consumption, and financial development. Moreover, the outcomes from the non-linear autoregressive distributed lag model showed thatin the short-run positive changes in the natural gas consumption levels increase economic growth in Pakistan. On the other hand, in the long-run, positive and negative changes in natural gas consumption levels increase and decrease the economic growth level, respectively, in the long-run. On the other hand, both positive and negative changes in the financial development level are found to reduce the economic growth level in the long-run. Furthermore, the Hacker-Hatemi-J causality analysis verifiedthat natural gas consumption influences the economic growth level in Pakistan; thus, the energy consumption-led growth phenomenon was unearthed. In line with these key findings, several policy level suggestions are put forward for Pakistan to boost its natural gas consumption figures in order to enhance its economic growth level in the future.

scholarly journals The Price Elasticity of Natural Gas Demand in China: A Meta-Regression Analysis

Energies ◽  
2018 ◽  
Vol 11 (12) ◽  
pp. 3255 ◽  
Author(s):  
Jian Chai ◽  
Huiting Shi ◽  
Xiaoyang Zhou ◽  
Shouyang Wang
Keyword(s):  
Regression Analysis ◽  
Natural Gas ◽  
Price Elasticity ◽  
Long Run ◽  
Cross Price Elasticity ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
Meta Regression ◽  
Meta Regression Analysis ◽  
Natural Gas Demand

Since natural gas has become a new star in China’s energy mix, a reliable estimation of the price elasticity of natural gas demand is crucial if we are to understand how energy price changes affect natural gas consumption. In this paper, we conduct a Meta-regression analysis to quantitatively synthesize empirical estimates of the price elasticity of natural gas demand reported in previous studies, provide true underlying values, and explain the heterogeneity of the aforementioned estimates. The Fixed-effects model and ordinary least squares (OLS) are applied to estimate the regression models. As a result, this paper reports a mean elasticity of −1.521 and 0.410 for the short- and long-run own-price elasticity, separately; −0.762 and 0.008 for the short- and long-run cross-price elasticity-coal to natural gas, respectively; 2.122 and 1.884 for the short- and long-run cross-price elasticity-electricity to natural gas, separately; and 2.267 and 1.275 for the short- and long-run cross-price elasticity-oil to natural gas, respectively. Our results suggest that natural gas consumption increases with the decrease of its own and coal prices in the short term and rise of electricity and oil prices. It also shows that almost all heterogeneity can be explained by the type of data, sample period, models of analysis, geographical region, and type of consumer.

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