The sensitivity of growth, conservation, feedback & neutrality hypotheses to sustainability accounting

Menegaki A. N., Tuğcu C. T.

Energy for Sustainable Development, cilt.34, ss.77-87, 2016 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 34
  • Basım Tarihi: 2016
  • Doi Numarası: 10.1016/j.esd.2016.09.001
  • Dergi Adı: Energy for Sustainable Development
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Sayfa Sayıları: ss.77-87
  • Anahtar Kelimeler: Emerging economies, Energy, SUR causality equations, Sustainable economic welfare, ECONOMIC WELFARE ISEW, ENERGY-CONSUMPTION, ELECTRICITY CONSUMPTION, CO2 EMISSIONS, CAUSAL RELATIONSHIP, RENEWABLE ENERGY, FINANCIAL DEVELOPMENT, NONRENEWABLE ENERGY, OECD COUNTRIES, NEXUS
  • Akdeniz Üniversitesi Adresli: Evet

Özet

© 2016 International Energy InitiativeThe relationship between energy consumption and national economic welfare, as measured by gross domestic product, has been evaluated statistically in numerous studies. We summarize and compare the results of several of these studies for 15 emerging economies. Considerable differences between studies and between nations are found. Then, we introduce two measures of welfare based on the “Index of Sustainable Economic Welfare” (ISEW). The first measure, “BISEW” (hereafter BISEW), modifies GDP to emphasize equality, capital stock, and spending on private consumption, education, and medical care. The second measure, “Solid ISEW” (hereafter SISEW), subtracts carbon dioxide emissions and various measures of resource depletion to the BISEW, thus combining economic and environmental considerations in the measure of welfare. We apply Granger causality analysis with a seemingly unrelated regression (SUR) to evaluate how energy consumption correlates with GDP, BISEW, and SISEW for 15 emerging economies over the period 1995–2013. The results are expressed in terms of the directionality of Granger causality. Although there is consistency in many cases, the direction of causality is found to vary substantially between countries and depending on which of the three measures of welfare is evaluated.