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Energy consumption and economic growth linkage: Global evidence from symmetric and asymmetric simulations

100%

Ali W., Nathaniel S. P., Adekunle I. A., Kumar B.

Quaestiones Geographicae

2022

vol. 41

issue 2

67-82

The literature reveals that linear models do not accurately represent the asymmetric relationship between economic growth and energy consumption (EC). To fill this gap, we examined the asymmetric relationship between EC and economic growth in a non-linear panel autoregressive distributed lag (ARDL) framework of 85 countries as a whole sample and of Brazil, Russia, India, China, and South Africa (BRICS), the Next Eleven, Big Four in Western Europe, Asia-Pacific region, Group of Seven, South Asian Association for Regional Cooperation (SAARC), Economic Cooperation Organization (ECO) and the Arab League as a sub-sample analysis from 1977 to 2014. A second generational unit root test has been applied to check the problem of cross-sectional dependency. Asymmetric contegration was employed to analyse the co-integration between the variables of interest. Long-run and short-run estimates have been calculated using the non-linear panel ARDL method. Results indicate that positive shocks to energy use tend to have a growth-enhancing effect in ECO and the Next Eleven while in the rest of the regions, the effect is growth con- traction. Moreover, economic recovery from a positive shock to energy use is the case in the Arab League, Asia-Pacific region, Group of Seven and in the whole sample. However, a negative shock to EC is observed in the Group of Seven, Asia Pacific region, Big Four in Western Europe and ECO, and the whole sample worsens the economic contraction. We can deduct from this study’s results that information on the asymmetric relationship between the subject variables is needed to design sound economic policy decisions across different economic regions.

Asymmetric Impact of Different Types of Road Trans-Port on Economic Growth in The Visegrad Group Countries: an Empirical Analysis of The Nardl Frame-Work

71%

Suproń B.

Współczesna Gospodarka

2023

vol. 17

issue 2 (41)

29-49

Współczesna gospodarka polega na efektywnej infrastrukturze transportowej, a transport drogowy towarów odgrywa kluczową rolę w dynamicznym wzroście gospodarczym i handlu. Celem artykułu było zbadanie wpływu poszczególnych rodzajów transportu drogowego na wzrost gospodarczy w krajach Grupy Wyszehradzkiej. W artykule zastosowano model nieliniowego autoregresyjnego rozproszonego opóźnienia (NARDL), aby zbadać asymetryczne oddziaływanie różnych rodzajów transportu na PKB. Badanie wykorzystuje dane kwartalne z lat 2004-2021. Dodatkowo w celu potwierdzenia uzyskanych obserwacji przeprowadzono badanie przyczynowości pomiędzy zmiennymi przy pomocy metody Toda-Yamamoto. Uzyskane wyniki wykazały, że istnieje zarówno symetryczny, jak i asymetryczny wpływ poszczególnych rodzajów transportu na wzrost gospodarczy w badanych krajach. Przewozy międzynarodowe i cross-trade oddziałują symetrycznie na wzrost PKB, natomiast przewozy kabotażowe i krajowe oddziałują asymetrycznie. Wyniki analizy przyczynowości opartej na metodzie Toda-Yamamoto wskazały dwukierunkową przyczynowość pomiędzy pracą przewozową a PKB w transporcie międzynarodowym i krajowym dla Czech i Polski, a także przewozami typu cross-trade dla Polski. Przyczynowość jednokierunkowa została potwierdzona dla przewozów cross-trade w przypadku Czech, Węgier i Słowacji. Na podstawie przeprowadzonej estymacji stwierdzono, że wpływ poszczególnych rodzajów transportu na wzrost gospodarczy jest asymetryczny i zależy od rodzaju przewozów oraz aspektów regionalnych Osiągnięte wyniki mają istotne implikacje dla polityki gospodarczej, umożliwiając dostosowywanie strategii i przepisów w celu wspierania wzrostu gospodarczego na podstawie różnic w oddziaływaniu transportu drogowego na gospodarkę.

The contemporary economy depends on an effective transportation system, and road haulage assumes a crucial function in fostering dynamic economic growth and commerce. This article aims to investigate the influence of various road transportation modes on economic growth in the Visegrad countries. In this study, the nonlinear autoregressive distributed lag (NARDL) model was employed to scrutinize the asymmetrical impact of various transport modes on GDP. We used quarterly data from 2004–2021 for the Visegrad countries. In addition, a Toda-Yamamoto test was performed to establish causality between variables. The study found evidence of differing impacts of transport modes on economic growth in the examined countries. Specifically, international, and cross-trade transport had a balanced effect on GDP growth, whereas cabotage and domestic transport had an imbalanced impact. The Toda-Yamamoto method's causality analysis results demonstrate bidirectional causality between freight work and GDP in both international and domestic transportation for the Czech Republic, Poland, and Poland's cross-trade. On the other hand, unidirectional causality was established for cross-trade in Hungary, Slovakia, and the Czech Republic. Based on the conducted estimation, it was deduced that the impact of specific transport modes on economic growth is uneven and reliant on both the transport mode and the country. The significant results obtained hold critical implications for economic policy, enabling the adaptation of strategies and regulations to foster growth based on variances in the influence of road transportation on the economy.

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1 Quaestiones Geographicae

1 Współczesna Gospodarka

1 Adekunle I. A.

1 Ali W.

1 Kumar B.

1 Nathaniel S. P.

1 Suproń B.

1 2023

1 2022

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Energy consumption and economic growth linkage: Global evidence from symmetric and asymmetric simulations

Asymmetric Impact of Different Types of Road Trans-Port on Economic Growth in The Visegrad Group Countries: an Empirical Analysis of The Nardl Frame-Work