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IJSTR >> Volume 3- Issue 12, December 2014 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



The Correlation Of Energy Utilization And Growth In Economy: A Case Study On Kazakhstan

[Full Text]

 

AUTHOR(S)

Pirmakhanov Saken

 

KEYWORDS

Index Terms: economic growth, energy consumption, Unit root test, Hsiao’s Granger causality test.

 

ABSTRACT

Abstract: This study observes an empirical correlation of energy utilization and economy increase in Kazakhstan using time fraction from 1993 to 2011. To specify, utilization of electricity and the electricity that is produced from oil and gas sources correlation had been observed as well. Co-integration method and Granger causality of Hsiao were applied in order to come up with unidirectional causes of economic growth on total energy consumption. The economic growth facilitates raise in gas energy production as well. For the energy conservation policy it suggests to remove energy saving policy from gas-energy sector to oil sector as we reject any causality correlation of increase in economy and production of oil and energy. Furthermore, policy makers should sustain technological innovations in electronic sectors, which will increase consumption of the electricity by the population and this will finally cause economic growth.

 

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