Energy and Economic Growth: The Stylized Facts

49 Pages Posted: 20 Feb 2016

See all articles by Zsuzsanna Csereklyei

Zsuzsanna Csereklyei

Australian National University (ANU) - Crawford School of Public Policy

Mar Rubio

Public University of Navarre - Department of Economics

David I. Stern

Australian National University (ANU) - Crawford School of Public Policy

Date Written: November 1, 2014

Abstract

We summarize what we know about energy and economic growth in a set of stylized facts. We combine analysis of a panel data set of 99 countries from 1971 to 2010 with analysis of some longer run historical data. Our key result is that over the last 40 years there has been a stable cross-sectional relationship between per capita energy use and income per capita with an elasticity of energy use with respect to income of less than unity. This implies that energy intensity has tended to decrease in countries that have become richer but not in others. We also find that over the last two centuries there has been convergence in energy intensity towards the current distribution, per capita energy use has tended to rise, energy quality to increase, and, though evidence is limited, the cost share of energy has declined.

Keywords: Economic development, energy intensity, energy efficiency

JEL Classification: Q43, O44, O13

Suggested Citation

Csereklyei, Zsuzsanna and Rubio Varas, Maria del Mar and Stern, David I., Energy and Economic Growth: The Stylized Facts (November 1, 2014). CCEP Working Paper 1417, November 2014, Crawford School of Public Policy, The Australian National University, Available at SSRN: https://ssrn.com/abstract=2734493 or http://dx.doi.org/10.2139/ssrn.2734493

Zsuzsanna Csereklyei (Contact Author)

Australian National University (ANU) - Crawford School of Public Policy ( email )

Canberra, Australian Capital Territory 2601
Australia

Maria del Mar Rubio Varas

Public University of Navarre - Department of Economics ( email )

Universidad Publica de Navarra
Campus Universitario
Pamplona, 31006
Spain

HOME PAGE: http://www.econ.unavarra.es/mar_rubio/

David I. Stern

Australian National University (ANU) - Crawford School of Public Policy ( email )

ANU College of Asia and the Pacific
J.G. Crawford Building, #132, Lennox Crossing
Canberra, Australian Capital Territory 0200
Australia

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
130
Abstract Views
918
rank
282,534
PlumX Metrics