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

Liu Fangjun; Liang Haiping

doi:doi:10.11648/j.aas.20230803.14

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

Liu Fangjun, Liang Haiping

Published in Advances in Applied Sciences (Volume 8, Issue 3)

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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[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.
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[8]	Cheng, F. The Impact of Energy Consumption on Economic Growth under the Development of Financial Industry [J]. Harbin Institute of Technology, 2020.
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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

Liu Fangjun

School of Economics and Finance, Zhanjiang Institute of Science and Technology, Zhanjiang, China
Liang Haiping

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

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Plain Text BibTeX RIS

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

Copy | Download

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}
}

Copy | Download

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  -

Copy | Download