Nuclear energy and economic development : causality revisited

Numerous studies have been conducted to examine the relationship between nuclear energy consumption and economic growth but such empirical research does not include a complete data set and time frame. In this study, we aim to examine the relationship among 28 countries that utilized nuclear energy w...

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Main Authors: Cheng, Shirlene Xing Yi, Goh, Mei Kei, Ng, Hua Yi
Other Authors: Chang Youngho
Format: Final Year Project
Language:English
Published: 2015
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Online Access:http://hdl.handle.net/10356/62457
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-624572019-12-10T14:06:26Z Nuclear energy and economic development : causality revisited Cheng, Shirlene Xing Yi Goh, Mei Kei Ng, Hua Yi Chang Youngho School of Humanities and Social Sciences DRNTU::Social sciences::Sociology Numerous studies have been conducted to examine the relationship between nuclear energy consumption and economic growth but such empirical research does not include a complete data set and time frame. In this study, we aim to examine the relationship among 28 countries that utilized nuclear energy within a multivariate panel framework from 1965 to 2012. These countries are divided into three panels: high-income countries, upper-middle-income countries and lower-middle-income countries. Johansen’s Fisher panel cointegration test reveals that there exists one cointegrating equation between real GDP, nuclear energy consumption (NEC), real gross fixed capital formation (GFCF) and labor force participation rate (LABOR). The results from Granger causality test shows unidirectional causality from nuclear energy consumption to economic growth in the short-run and long-run for high-income countries. Whereas for the upper-middle-income countries, GDP, GFCF and LABOR have unidirectional causality to NEC in the short-run, but there is no causal effect between the variables in the long-run. For the lower-middle-income countries, NEC has no causation effect to any variables in the short-run and long-run. Thus, the results suggest that for high-income countries, nuclear energy is an important element for economic development. Bachelor of Arts 2015-04-07T13:01:33Z 2015-04-07T13:01:33Z 2015 2015 Final Year Project (FYP) http://hdl.handle.net/10356/62457 en Nanyang Technological University 59 p. application/pdf
institution Nanyang Technological University
building NTU Library
country Singapore
collection DR-NTU
language English
topic DRNTU::Social sciences::Sociology
spellingShingle DRNTU::Social sciences::Sociology
Cheng, Shirlene Xing Yi
Goh, Mei Kei
Ng, Hua Yi
Nuclear energy and economic development : causality revisited
description Numerous studies have been conducted to examine the relationship between nuclear energy consumption and economic growth but such empirical research does not include a complete data set and time frame. In this study, we aim to examine the relationship among 28 countries that utilized nuclear energy within a multivariate panel framework from 1965 to 2012. These countries are divided into three panels: high-income countries, upper-middle-income countries and lower-middle-income countries. Johansen’s Fisher panel cointegration test reveals that there exists one cointegrating equation between real GDP, nuclear energy consumption (NEC), real gross fixed capital formation (GFCF) and labor force participation rate (LABOR). The results from Granger causality test shows unidirectional causality from nuclear energy consumption to economic growth in the short-run and long-run for high-income countries. Whereas for the upper-middle-income countries, GDP, GFCF and LABOR have unidirectional causality to NEC in the short-run, but there is no causal effect between the variables in the long-run. For the lower-middle-income countries, NEC has no causation effect to any variables in the short-run and long-run. Thus, the results suggest that for high-income countries, nuclear energy is an important element for economic development.
author2 Chang Youngho
author_facet Chang Youngho
Cheng, Shirlene Xing Yi
Goh, Mei Kei
Ng, Hua Yi
format Final Year Project
author Cheng, Shirlene Xing Yi
Goh, Mei Kei
Ng, Hua Yi
author_sort Cheng, Shirlene Xing Yi
title Nuclear energy and economic development : causality revisited
title_short Nuclear energy and economic development : causality revisited
title_full Nuclear energy and economic development : causality revisited
title_fullStr Nuclear energy and economic development : causality revisited
title_full_unstemmed Nuclear energy and economic development : causality revisited
title_sort nuclear energy and economic development : causality revisited
publishDate 2015
url http://hdl.handle.net/10356/62457
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