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Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province

Received: 19 June 2023     Accepted: 13 July 2023     Published: 5 August 2023
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Abstract

Energy consumption and GDP in Guangdong are closely related. This paper uses time series data of Guangdong's GDP and energy consumption from 2002 to 2021, and applies methods such as unit root test, cointegration analysis, multicollinearity test and correction, and sequence correlation test and correction to study the impact of the consumption of various components of terminal energy on Guangdong's GDP. The results show that (1) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) at the 5% significance level; (2) the logarithm of electricity consumption (LnX3) and the logarithm of other energy consumption (LnX4) have a significant impact on the logarithm of GDP (LnGDP) at the 5% significance level, and on average, an increase of 1% in electricity consumption and other energy consumption will increase Guangdong's GDP by 0.698% and 0.507%, respectively; (3) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) in the current period at the 5% significance level, but have a significant positive impact with a lag of one year. Based on these findings, policy recommendations are proposed.

Published in Advances in Applied Sciences (Volume 8, Issue 3)
DOI 10.11648/j.aas.20230803.14
Page(s) 86-92
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Guangdong Province, Energy Consumption, GDP, Cointegration Analysis

References
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[2] Lan Mengxin. Research on the Impact of Energy Consumption on Economic Development Based on Econometric Models [D]. North China Electric Power University (Beijing), 2021.
[3] Tian Zhiyong, Liu Bingwu, Huo Lingyu. Regression analysis model of the impact of energy consumption structure on unit GDP energy consumption [J]. Metallurgical Economy and Management, 2011 (01): 44-48.
[4] Chen Jia, Zhang Renshou. Prediction of the Impact of Structural Energy Conservation on Unit GDP Energy Consumption: A Case Study of Guangdong Province [J]. Guangdong Science and Technology, 2009, 18 (13): 16-19.
[5] Xu Limeng. The Impact of Renewable Energy Consumption on Economic Growth: An Empirical Analysis Based on 11 EU Countries [J]. Guangxi Quality Supervision and Inspection Report, 2019 (07): 119-120.
[6] Shi Xianguang. Research on the Impact of Energy Consumption on Economic Growth: An Empirical Analysis Based on Time Series Data from Henan Province from 1978 to 2008 [J]. Northern Economy and Trade, 2011 (06): 33-34.
[7] Zhong Shuai. Empirical Analysis of the Impact of Industrial Energy Consumption and Emissions on GDP and Industrial Exhaust Gas in Xinjiang [J]. Wireless Interconnect Technology, 2015 (11): 9495+103.
[8] Cheng, F. The Impact of Energy Consumption on Economic Growth under the Development of Financial Industry [J]. Harbin Institute of Technology, 2020.
[9] Wang Fei. The impact of inter-provincial energy consumption on total output in China and empirical analysis: Based on panel data model [J]. Commercial Modernization, 2015 (19): 249. DOI: 10.14013/j.cnki.scxdh.2015.19.191.
[10] Zhang Jie, Wang Zhiwen. An Empirical Analysis of the Relationship between GDP and Energy Consumption in Liaoning Province [J]. Journal of Shenyang University of Technology (Social Sciences Edition), 2015, 8 (04).
[11] Dickey D. A, Fuller W. A. Distribution of the estimators for autoregressive time series with a unit root [J]. Journal of the American statistical association, 74 (366a), 427-431.
[12] Ronald Aylmer Fisher. Statistical Methods for Research Workers [J]. Biometrika, 1925, Vol. 17, No. 1/2.
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[16] John William Tukey. The Future of Spectral Analysis [J]. The Annals of Mathematical Statistics, 1949.
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  • APA Style

    Liu Fangjun, Liang Haiping. (2023). Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province. Advances in Applied Sciences, 8(3), 86-92. https://doi.org/10.11648/j.aas.20230803.14

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    ACS Style

    Liu Fangjun; Liang Haiping. Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province. Adv. Appl. Sci. 2023, 8(3), 86-92. doi: 10.11648/j.aas.20230803.14

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    AMA Style

    Liu Fangjun, Liang Haiping. Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province. Adv Appl Sci. 2023;8(3):86-92. doi: 10.11648/j.aas.20230803.14

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  • @article{10.11648/j.aas.20230803.14,
      author = {Liu Fangjun and Liang Haiping},
      title = {Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province},
      journal = {Advances in Applied Sciences},
      volume = {8},
      number = {3},
      pages = {86-92},
      doi = {10.11648/j.aas.20230803.14},
      url = {https://doi.org/10.11648/j.aas.20230803.14},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.aas.20230803.14},
      abstract = {Energy consumption and GDP in Guangdong are closely related. This paper uses time series data of Guangdong's GDP and energy consumption from 2002 to 2021, and applies methods such as unit root test, cointegration analysis, multicollinearity test and correction, and sequence correlation test and correction to study the impact of the consumption of various components of terminal energy on Guangdong's GDP. The results show that (1) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) at the 5% significance level; (2) the logarithm of electricity consumption (LnX3) and the logarithm of other energy consumption (LnX4) have a significant impact on the logarithm of GDP (LnGDP) at the 5% significance level, and on average, an increase of 1% in electricity consumption and other energy consumption will increase Guangdong's GDP by 0.698% and 0.507%, respectively; (3) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) in the current period at the 5% significance level, but have a significant positive impact with a lag of one year. Based on these findings, policy recommendations are proposed.},
     year = {2023}
    }
    

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  • TY  - JOUR
    T1  - Empirical Study on the Impact of Energy Consumption on GDP in Guangdong Province
    AU  - Liu Fangjun
    AU  - Liang Haiping
    Y1  - 2023/08/05
    PY  - 2023
    N1  - https://doi.org/10.11648/j.aas.20230803.14
    DO  - 10.11648/j.aas.20230803.14
    T2  - Advances in Applied Sciences
    JF  - Advances in Applied Sciences
    JO  - Advances in Applied Sciences
    SP  - 86
    EP  - 92
    PB  - Science Publishing Group
    SN  - 2575-1514
    UR  - https://doi.org/10.11648/j.aas.20230803.14
    AB  - Energy consumption and GDP in Guangdong are closely related. This paper uses time series data of Guangdong's GDP and energy consumption from 2002 to 2021, and applies methods such as unit root test, cointegration analysis, multicollinearity test and correction, and sequence correlation test and correction to study the impact of the consumption of various components of terminal energy on Guangdong's GDP. The results show that (1) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) at the 5% significance level; (2) the logarithm of electricity consumption (LnX3) and the logarithm of other energy consumption (LnX4) have a significant impact on the logarithm of GDP (LnGDP) at the 5% significance level, and on average, an increase of 1% in electricity consumption and other energy consumption will increase Guangdong's GDP by 0.698% and 0.507%, respectively; (3) the logarithm of coal consumption (LnX1) and the logarithm of oil consumption (LnX2) have no significant impact on the logarithm of GDP (LnGDP) in the current period at the 5% significance level, but have a significant positive impact with a lag of one year. Based on these findings, policy recommendations are proposed.
    VL  - 8
    IS  - 3
    ER  - 

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Author Information
  • School of Economics and Finance, Zhanjiang Institute of Science and Technology, Zhanjiang, China

  • School of Economics and Finance, Zhanjiang Institute of Science and Technology, Zhanjiang, China

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