Individual new energy consumption and economic growth in China |
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| Institution: | 1. School of Economics and Management, Key Laboratory of Financial Science and Technology Innovation, Fuzhou University, 2 Xue Yuan Road, University Town, Fuzhou, Fujian, PR China;2. School of Economics and Management, Fuzhou University, 2 Xue Yuan Road, University Town, Fuzhou, Fujian, PR China;1. School of Economic Mathematics, Southwestern University of Finance and Economics, 555 Liutai Boulevard, Wenjiang, Chengdu 611130, PR China;2. Department of Economics and Management, Sichuan Vocational and Technical College of Communications, Chengdu 611130, PR China;1. Department of Finance, School of Economics and Finance, Universidad EAFIT, Carrera 49 No. 7 Sur-50, Medellin, Colombia;2. School of Management, Universidad de los Andes, Calle 21, No. 1-20, Bogota, Colombia;3. Department of Economics and IME, University of Salamanca, Campus Miguel de Unamuno, 37007 Salamanca, Spain;1. Chulalongkorn University, Sasin Graduate Institute of Business Administration, Bangkok, Thailand;2. Chulalongkorn University, College of Population Studies, Bangkok, Thailand;3. Pennsylvania State University, School of Graduate Professional Studies, Malvern, PA, USA;1. Research Department, Hong Kong Monetary Authority, 55/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong, China;2. Institute of Theoretical Physics and Department of Physics, The Chinese University of Hong Kong, Shatin, New Territories, Hong Kong, China;1. College of Economics and Finance, Huaqiao University, Fujian, China;2. Department of Finance, National Chung-Hsing University, Taichung, Taiwan |
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| Abstract: | We document the one-way relationship between individual new energy consumption and economic growth in China through the autoregressive distributed lag (ARDL) model from 2004 to 2017. Our results show that individual new energy consumption has a positive effect on economic growth. Moreover, the urbanization rate, import and export trade volume and foreign direct investment all affect the individual new energy consumption in the short run. The outcome of the causality test reveals a one-way Granger causal relationship from individual new energy consumption to economic growth, from the urbanization rate, and from the import and export trade volume to new energy consumption. |
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| Keywords: | Individual new energy consumption Economic growth ARDL Granger causality |
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