Disaggregated Analysis of Energy Consumption and Economic Performance in Nigeria
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Date
2013
Authors
Ogunniyi, M.B.
Ojapinwa, T.V.
Ejumedia, P.E.
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Development and Sustainability
Abstract
The study develops a comprehensive disaggregated analysis of energy consumption and economic performance with the aim of explaining and providing a long term solution to the persistent growth energy problem experience in the country. Following Solow (1957) and Odulari(2009), the study specifies a model which expresses real gross domestic product as a function of the components of total energy consumption namely,coal, oil and gas consumption. Augmented Dickey Fuller(ADF) Unit root test was carried out and the results are presented. The Engel- Granger two stages error term was used for co-integration. The coefficient of the ECM is well behaved and significant, and the speed of adjustment is high on the basis of a priori expectation, the entire variables have their expected signs on the current periods, except lag of gross fixed capital formation, as well as oil consumption at first and second lags. The models are subjected to series of policy scenarios to evaluate the various options for government to improve the productive capacity of the economy, thereby achieving sustained accelerated growth.
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Scholarly articles
Keywords
Energy Consumption , Economic Performance , Economy , Domestic product , Research Subject Categories::SOCIAL SCIENCES::Business and economics::Economics
Citation
Ojapinwa, T.V., Ogunniyi B., and Ejumedia P. E. (2013), ‘Energy Consumption and Economic Growth: A Disaggregated Analysis’. International Journal of Development and Sustainability, 2(2)