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Energy-growth nexus and energy demand in Ghana: A review of empirical studies

Kwakwa, Paul Adjei (2014): Energy-growth nexus and energy demand in Ghana: A review of empirical studies.

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Abstract

The paper reviews and assesses empirical studies on the causal relationship between energy and growth, and energy demand in Ghana over the years. It is found through the review that studies have not reached a consensus on the direction of causality between energy and growth, an outcome which could be attributed to the differences in the period for study, source of data and estimation methods. Generally, socioeconomic factors particularly affect demand for energy at the micro level, while the level of industrialization, urbanization, policy regime and industrial efficiency have been identified to influence demand for energy at the macro level. For policy purposes, other areas like intensity of energy use, conservation behavior and willingness to pay for energy services need to be researched into.

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