The role of energy in economic growth: the case of Croatia
The purpose of this research is to examine the causal relationship between energy and economic growth in Croatia using data for the period from 1993 to 2006. We use a bivariate model of real GDP and five energy variables: energy consumption in industry and households, oil consumption, primary energy...
| Main Authors: | , |
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| Format: | Article |
| Language: | deu |
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Faculty of Economics University of Rijeka
2010-06-01
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| Series: | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| Subjects: | |
| Online Access: | https://www.efri.hr/sites/efri.hr/files/cr-collections/2/06-vlahinic-zikovic-2010-1.pdf |
| _version_ | 1818327933636313088 |
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| author | Saša Žiković Nela Vlahinić-Dizdarević |
| author_facet | Saša Žiković Nela Vlahinić-Dizdarević |
| author_sort | Saša Žiković |
| collection | DOAJ |
| description | The purpose of this research is to examine the causal relationship between energy and economic growth in Croatia using data for the period from 1993 to 2006. We use a bivariate model of real GDP and five energy variables: energy consumption in industry and households, oil consumption, primary energy production and net energy imports. Since we found cointegration for all of the tested relationships, we use an Error Correction Model (ECM) which also allows us to distinguish between long and short term relationship among the variables.The empirical results provide clear support of causality that runs from real GDP growth to all energy variables. Our results differ from most of the studies analysing developing countries and are similar to those investigating developed, post-industrial economies with strong tertiary sector. Our research results reflect relatively low energy intensity in Croatia as a consequence of transition depression during the 1990s and the process of deindustrialization. |
| first_indexed | 2024-12-13T12:24:09Z |
| format | Article |
| id | doaj.art-83fa9b827ee341aab93352c35f57ec58 |
| institution | Directory Open Access Journal |
| issn | 1331-8004 |
| language | deu |
| last_indexed | 2024-12-13T12:24:09Z |
| publishDate | 2010-06-01 |
| publisher | Faculty of Economics University of Rijeka |
| record_format | Article |
| series | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| spelling | doaj.art-83fa9b827ee341aab93352c35f57ec582022-12-21T23:46:29ZdeuFaculty of Economics University of RijekaZbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu1331-80042010-06-012813560The role of energy in economic growth: the case of CroatiaSaša ŽikovićNela Vlahinić-DizdarevićThe purpose of this research is to examine the causal relationship between energy and economic growth in Croatia using data for the period from 1993 to 2006. We use a bivariate model of real GDP and five energy variables: energy consumption in industry and households, oil consumption, primary energy production and net energy imports. Since we found cointegration for all of the tested relationships, we use an Error Correction Model (ECM) which also allows us to distinguish between long and short term relationship among the variables.The empirical results provide clear support of causality that runs from real GDP growth to all energy variables. Our results differ from most of the studies analysing developing countries and are similar to those investigating developed, post-industrial economies with strong tertiary sector. Our research results reflect relatively low energy intensity in Croatia as a consequence of transition depression during the 1990s and the process of deindustrialization.https://www.efri.hr/sites/efri.hr/files/cr-collections/2/06-vlahinic-zikovic-2010-1.pdfEnergyEconomic growthError Correction Model (ECM)Croatia |
| spellingShingle | Saša Žiković Nela Vlahinić-Dizdarević The role of energy in economic growth: the case of Croatia Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu Energy Economic growth Error Correction Model (ECM) Croatia |
| title | The role of energy in economic growth: the case of Croatia |
| title_full | The role of energy in economic growth: the case of Croatia |
| title_fullStr | The role of energy in economic growth: the case of Croatia |
| title_full_unstemmed | The role of energy in economic growth: the case of Croatia |
| title_short | The role of energy in economic growth: the case of Croatia |
| title_sort | role of energy in economic growth the case of croatia |
| topic | Energy Economic growth Error Correction Model (ECM) Croatia |
| url | https://www.efri.hr/sites/efri.hr/files/cr-collections/2/06-vlahinic-zikovic-2010-1.pdf |
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