This paper aims to investigate the direction of causality between economic growth, energy consumption and trade openness in case of Iran for the period 1967–2012. We apply the newly developed combined cointegration test proposed by Bayer and Hanck (2013). Vector Error Correction Model (VECM) is applied to determine the direction of causality between these three variables. The result of Bayer-Ha...

Energy plays an active role in sustainable development in Iran, both in the sustainable and the development aspects. This study aims to estimate the nexus of economic growth and the renewable energy in Iran during 1981-2012. We employ the Auto-Regressive Distributed Lag (ARDL) model to estimate a log-linear equation. The results suggest that renewable energy consumption is an insignificant driv...

In this study, the causality links between electricity consumption and economic growth are investigated for Turkey, the United Kingdom, Spain, Belgium and United States covering the period from 1964 to 2014. The results of autoregressive distributed lag (ARDL) approach, bounds testing and error correction model show that there is a positive one-way and statistically significant causality moving...

Abstract T his paper attempted to examine the effects of foreign trade, energy consumption, human capital and physical capital on GDP in 8 candidate developing countries and 8 candidate developed countries during 2002-2014.In this study, the effects of variables were estimated through panel cointegration technique and dynamic ordinary least squares (DOLS).The results of regression te...

T his study examines how oil price shocks interact with the stock market index within a nonlinear autoregressive distributed lag model in Iran. Based on quarterly data for the period from 1991 to 2017, the findings revealed statistically significant evidence of short-run and long-run asymmetric behavior of stock market index in response to the positive a...

Abstract I n this paper, the behavior of the real oil price and OPEC and non-OPEC oil production during 1973-2013 are modelled. Interactions among OPEC, non-OPEC oil production, global oil consumption, and the real price of crude oil are estimated using a Structural VAR model (SVAR). After providing evidence for the structural breaks in oil price in 1996, the results indicate that, ac...