Munich Personal RePEc Archive

Electricity Consumption and Economic Growth in Kazakhstan: Fresh Evidence from a Multivariate Framework Analysis

Saleheen, Khan and Farooq Ahmed, Jam and Muhammad, Shahbaz (2012): Electricity Consumption and Economic Growth in Kazakhstan: Fresh Evidence from a Multivariate Framework Analysis.

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Abstract

This paper visits the relationship between electricity consumption and economic growth by incorporating trade openness, capital and labour in production function using annual data of Kazakhstan. We have applied the ARDL bounds testing and the VECM Granger causality approach to examine long run and causality relationship between the variables.

Our results confirm the existence of long run relationship among the series. The empirical evidence reveals that electricity consumption adds in economic growth. Trade openness stimulates economic growth. Capital and labour promote economic growth. The causality analysis finds electricity consumption Granger causes economic growth. The feedback effect exists between Trade and economic growth. This study opens new insights for policy makers to articulate comprehensive economic, trade and energy policy to sustain long run economic growth.

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