Journal
ENERGY POLICY
Volume 62, Issue -, Pages 1165-1171Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2013.07.082
Keywords
Rentierism; Energy-growth nexus; ARDL bounds test
Funding
- NECE-Research Unit in Business Science and Economics
- Portuguese Foundation for the Development of Science and Technology
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The Algerian economy is an example of a high level of rentierism, while the Egyptian economy shows a low/moderate level of rentierism. The ARDL bounds test approach was used upon annual time series data from 1965 to 2010. The results suggest cointegration for both countries. Bi-causality between energy consumption and growth in the long run was found. For Algeria there is a reversed (negative) energy-growth nexus, adding a new relationship to the traditional four causal hypotheses on the energy-growth nexus. For Egypt, we found positive elasticity both of oil price and energy, which is in line with the mainstream. (C) 2013 Elsevier Ltd. fill rights reserved.
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