TY - JOUR
T1 - Cointegration, error-correction, and the relationship between GDP and energy
T2 - The case of South Korea and Singapore
AU - Glasure, Yong U.
AU - Lee, Aie Rie
PY - 1998/3
Y1 - 1998/3
N2 - This paper examines the causality issue between energy consumption and GDP for South Korea and Singapore, with the aid of cointegration and error-correction modeling. Results of the cointegration and error-correction models indicate bidirectional causality between GDP and energy consumption for both South Korea and Singapore. However, results of the standard Granger causality tests show no causal relationship between GDP and energy consumption for South Korea and unidirectional causal relationship from energy consumption to GDP for Singapore.
AB - This paper examines the causality issue between energy consumption and GDP for South Korea and Singapore, with the aid of cointegration and error-correction modeling. Results of the cointegration and error-correction models indicate bidirectional causality between GDP and energy consumption for both South Korea and Singapore. However, results of the standard Granger causality tests show no causal relationship between GDP and energy consumption for South Korea and unidirectional causal relationship from energy consumption to GDP for Singapore.
KW - Causality between GDP and energy
KW - Cointegration
KW - Unit roots
KW - Vector error correction model (VECM)
UR - http://www.scopus.com/inward/record.url?scp=0032029633&partnerID=8YFLogxK
U2 - 10.1016/S0928-7655(96)00016-4
DO - 10.1016/S0928-7655(96)00016-4
M3 - Article
AN - SCOPUS:0032029633
VL - 20
SP - 17
EP - 25
JO - Resource and Energy Economics
JF - Resource and Energy Economics
SN - 0928-7655
IS - 1
ER -