S-Space College of Engineering/Engineering Practice School (공과대학/대학원) Program in Technology, Management, Economics and Policy (협동과정-기술·경영·경제·정책전공) Theses (Master's Degree_협동과정-기술·경영·경제·정책전공)
The Relationship between Energy Consumption and GDP Growth in China
중국의 에너지 소비와 GDP 성장간의 관계
- 공과대학 협동과정 기술경영·경제·정책전공
- Issue Date
- 서울대학교 대학원
- 학위논문 (석사)-- 서울대학교 대학원 : 협동과정 기술경영·경제·정책전공, 2013. 2. 허은녕.
- In the last 30 years, China has achieved rapid economic growth. Energy played important roles in supporting the development of China and now China become the largest energy consumer country in the world. Based on the time series data of energy consumption and GDP from 1978-2011 in China, we explored the relationship between energy consumption and GDP using ADF, co-integrate and VECM test. There were long run equilibrium relationships between GDP and energy consumption and the consumption of disaggregate categories of energy, such as coal, oil and electricity except gas
Moreover, two-way short term causalities running between GDP and energy consumption, coal and electricity consumption and one-way long term causality running from oil consumption to GDP were also founded. As a secondary contribution, we investigate the decoupling trend between GDP and the aggregate energy consumption. All the empirical results support the notion that although China economy still relied on the energy consumption, there is also weak decoupling trend. Finally, we gave policy implications upon the estimation results regarding current Chinese economy development policies, such as exploiting new energies and speeding up innovation.