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Globalisation, Economic Growth and Energy Consumption in the BRICS Region: The Importance of Asymmetries

Shahbaz, Muhammad and Shahzad, Syed Jawad Hussain and Alam, Shaista and Apergis, Nicholas (2018): Globalisation, Economic Growth and Energy Consumption in the BRICS Region: The Importance of Asymmetries.

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Abstract

This paper examines the asymmetric impact of globalisation and economic growth on energy consumption in BRICS countries, applying the NARDL bounds approach to explore the presence of asymmetric cointegration across variables. The empirical results reveals that energy consumption is positively and negatively affected by the positive and negative globalisation shocks, respectively. A positive shock in economic growth promotes energy consumption, while a negative shock reduces energy consumption.

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