Research on the coordination of energy in China's economic growth

This study uses the improved Cobb-Douglas two-factor production function model to explore the potential relationship between economic growth and energy consumption through the multiple co-integration test on the panel data of China from 1985 to 2018. The results show that there is a positive long-te...

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Published in:PloS one 2021-06, Vol.16 (6), p.e0251824
Main Authors: Chi, Yuanying, Bai, Guoqing, Li, Jialin, Chen, Bin
Format: Article
Language:English
Subjects:
Biology and Life Sciences
Carbon
Carbon emissions
Causality
China
Economic aspects
Economic conditions
Economic Development
Economic growth
Economics
Emissions control
Energy consumption
Energy efficiency
Energy industry
Energy-Generating Resources - economics
Engineering and Technology
Environmental degradation
Error correction & detection
Evaluation
GDP
Gross Domestic Product
Growth models
Growth patterns
Humans
Impact analysis
Industrial development
Industrialization
Models, Economic
People and Places
Physical Sciences
Production functions
Social Sciences
Supply & demand
Sustainable development
Urbanization
Variables
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creator Chi, Yuanying
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description This study uses the improved Cobb-Douglas two-factor production function model to explore the potential relationship between economic growth and energy consumption through the multiple co-integration test on the panel data of China from 1985 to 2018. The results show that there is a positive long-term balance between energy consumption and economic growth: economic growth of 1%, total energy consumption growth of 1.53%, which means that economic growth needs higher energy support in the former short term. At the same time, the error correction term will converge energy consumption to a long-term equilibrium state with an adjustment intensity of 134.59%. From the results of variance decomposition, we can also see that as the number of periods increases, the part of real economic growth explained by energy consumption gradually increases.
doi_str_mv 10.1371/journal.pone.0251824
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This is an open access article distributed under the terms of the Creative Commons Attribution License: http://creativecommons.org/licenses/by/4.0/ (the “License”), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. 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subjects Biology and Life Sciences
Carbon
Carbon emissions
Causality
China
Economic aspects
Economic conditions
Economic Development
Economic growth
Economics
Emissions control
Energy consumption
Energy efficiency
Energy industry
Energy-Generating Resources - economics
Engineering and Technology
Environmental degradation
Error correction & detection
Evaluation
GDP
Gross Domestic Product
Growth models
Growth patterns
Humans
Impact analysis
Industrial development
Industrialization
Models, Economic
People and Places
Physical Sciences
Production functions
Social Sciences
Supply & demand
Sustainable development
Urbanization
Variables
title Research on the coordination of energy in China's economic growth
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