Variables | Group of Seven | Next Eleven | World sample | |||
---|---|---|---|---|---|---|
Δ |
Δ |
Δ |
Δ |
Δ |
Δ |
|
ECT | −0.427* (0.000) | −0.5535* (0.000) | −0.458* (0.000) | −0.413* (0.000) | −0.494* (0.000) | −0.446* (0.000) |
|
−0.006* (0.000) | 0.021** (0.036) | 0.034* (0.007) | −0.036* (0.000) | −0.001** (0.013) | 0.001* (0.003) |
|
0.021* (0.000) | −0.013* (0.000) | 0.440* (0.000) | 0.066* (0.000) | 0.015* (0.000) | −0.011* (0.000) |
|
−0.061 (0.466) | −0.049 (0.710) | −1.114 (0.264) | 1.167 (0.242) | −0.004 (0.577) | 0.005 (0.544) |
|
0.026 (0.243) | −0.002 (0.290) | 1.337** (0.026) | −1.217** (0.036) | −0.005 (0.480) | 0.005 (0.463) |
|
0.011 (0.992) | −0.009 (0.627) | 0.945 (0.257) | −0.955 (0.259) | −0.010 (0.397) | 0.011 (0.380) |
|
−0.001 (0.626) | 0.009 (0.396) | −0.339 (0.640) | 0.436 (0.556) | −0.003 (0.794) | 0.004 (0.747) |
Constant | −1.813 (0.075) | −1.394 (0.145) | −296.64* (0.006) | −71.781 (0.121) | 1.881744 (0.236) | −5.050* (0.001) |
Hausman (χ2) |
2.17 (0.250) | 2.55 (0.601) | 4.17 (0.542) | |||
Wald test (long-run asymmetry) | 4.05** (0.0443) | 7.76* (0.005) | 5.76** (0.051) | |||
Wald test (short-run asymmetry) | 0.07 (0.7917) | 0.12 (0.730) | 0.83 (0.305) | |||
Log likelihood | −284.11 | 111.42 | −3620.302 |
Variables | CD-test | Average joint T | Mean Ï | Mean abs (Ï) | |
---|---|---|---|---|---|
GDP growth per capita | 21.417 | 0.000 | 37.95 | 0.06 | 0.18 |
Energy use | 102.57 | 0.000 | 37.95 | 0.27 | 0.54 |
ΔY | MG (BRICS) | PMG (SAARC) |
---|---|---|
ECT | −0.008* (0.043) | −0.0064577 (0.389) |
Long-run effect | −0.829* (0.000) | −1.040631* (0.000) |
Short run effect | 0.054* (0.001) | 0.0496974* (0.006) |
_cons | 4.914* (0.000) | 2.895211* (0.000) |
Hausman test |
7.51** (0.0234) | 0.21 (0.6462) |
Wald test (long-run asymmetry) | 1.75 (0.1855) | 1.09 (0.2971) |
Wald test (short-run asymmetry) | 1.26 (0.2616) | 0.42 (0.5146) |
Log likelihood | −366.9499 |
Variable | Obs | Mean | Std. dev. | Min | Max | Coef of variation |
---|---|---|---|---|---|---|
Whole sample | ||||||
GDPG | 3,431 | 1.715 | 4.945 | −64.99 | 53.97 | 2.88 |
EU | 3,431 | 2,130.886 | 2,369.316 | 99.71 | 18,178.141 | 0.011 |
BRICS | ||||||
GDPG | 114 | 6.823461 | 3.996938 | −7.3881 | 13.63833 | 0.585 |
EU | 114 | 842.0321 | 559.7145 | 279.380 | 2,236.730 | 0.664 |
Next Eleven | ||||||
GDPG | 418 | 2.49 | 4.55 | −30.18 | 22.12 | 1.82 |
EU | 418 | 958.1 | 930.15 | 99.70 | 5,248.5 | 0.97 |
ECO | ||||||
GDPG | 114 | 1.40 | 6.05 | −30.18 | 22.14 | 4.32 |
EU | 114 | 1,064.1 | 680.6 | 302.54 | 2,889.10 | 0.63 |
Big Four in Western Europe | ||||||
GDPG | 152 | 1.66 | 1.78 | −5.46 | 5.87 | 1.07 |
EU | 152 | 4,053.8 | 341.3 | 3,172.8 | 4,658.3 | 0.048 |
Asia-Pacific region | ||||||
GDPG | 570 | 3.47 | 3.47 | −14.35 | 13.64 | 1 |
EU | 570 | 944.23 | 1,122.8 | 99.71 | 4,083.8 | 1.189 |
Group of Seven | ||||||
GDPG | 266 | 1.66 | 2.10 | −7.94 | 6.33 | 1.26 |
EU | 266 | 4,770.7 | 1,970.9 | 2,203.8 | 8,455.5 | 0.41 |
Arab League | ||||||
GDPG | 418 | 1.148 | 5.10 | −25.61 | 11.83 | 4.44 |
EU | 418 | 1,811.7 | 1,903.7 | 235.18 | 6,871.8 | 1.05 |
SAARC region | ||||||
GDPG | 190 | 3.01 | 2.35 | −7.39 | 9 | 0.78 |
EU | 190 | 334.7 | 119.6 | 99.71 | 636.5 | 0.35 |
Variables | Level | First difference | ||||||
---|---|---|---|---|---|---|---|---|
CIPS (−1) | CIPS (−2) | CIPS (−3) | Critical value (5%) | CIPS (−1) | CIPS (−2) | CIPS (−3) | Critical value (5%) | |
No intercept no trend | ||||||||
GDP growth | −1.231 | −3.761 | −3.774 | −1.52 | −5.963 | −5.935 | −5.934 | −1.52 |
Energy use | −1.134 | −1.267 | −1.268 | −1.52 | −5.097 | −4.940 | −4.883 | −1.52 |
Only intercept | ||||||||
GDP growth | −1.107 | −4.107 | −4.107 | −2.08 | −5.977 | −5.977 | −5.977 | −2.08 |
Energy use | −1.606 | −1.606 | −1.606 | −2.08 | −5.272 | −5.272 | −5.272 | −2.08 |
Linear trend | ||||||||
GDP growth | −2.48 | −4.470 | −4.453 | −2.56 | −6.206 | −6.161 | −6.181 | −2.65 |
Energy use | −1.836 | −1.936 | −1.893 | −2.56 | −5.537 | −5.461 | −5.410 | −2.65 |
Variables | Kao test results | ||
---|---|---|---|
Decision regarding residuals | |||
Arab League | −2.4916 (0.0003) | I (0), Stationary | |
−2.7552 (0.000) | I (0), Stationary | ||
−2.7677 (0.000) | I (0), Stationary | ||
−2.6207 (0.000) | I (0), Stationary | ||
Asia-Pacific region | −2.6571 (0.000) | I (0), Stationary | |
−2.9797 (0.000) | I (0), Stationary | ||
−2.3041 (0.003) | I (0), Stationary | ||
−2.4447 (0.0001) | I (0), Stationary | ||
Big Four in Western Europe | −4.0673 (0.000) | I (0), Stationary | |
−3.2235 (0.000) | I (0), Stationary | ||
−2.5821 (0.012) | I (0), Stationary | ||
−2.6298 (0.010) | I (0), Stationary | ||
ECO | −3.5681 (0.0004) | I (0), Stationary | |
−2.5875 (0.025) | I (0), Stationary | ||
−2.8706 (0.013) | I (0), Stationary | ||
−2.7547 (0.013) | I (0), Stationary | ||
Group of Seven | −3.2938 (0.000) | I (0), Stationary | |
−3.3661 (0.000) | I (0), Stationary | ||
−2.5256 (0.002) | I (0), Stationary | ||
−2.5917 (0.001) | I (0), Stationary | ||
Next Eleven | −1.9333 (0.081) | I (0), Stationary | |
−1.7222 (0.301) | I (0), Stationary at 10% | ||
−2.0643 (0.021) | I (0), Stationary | ||
−2.0375 (0.026) | I (0), Stationary | ||
World sample | −2.3252 (0.000) | I (0), Stationary | |
−2.6464 (0.000) | I (0), Stationary | ||
−2.6051 (0.000) | I (0), Stationary | ||
−2.4566 (0.000) | I (0), Stationary |
Null hypothesis | W-stat | Z-bar | P-value | Lag | |
---|---|---|---|---|---|
Arab League | Real GDP per capita does not Granger-cause energy use | 3.50237 | 5.13479 | 3.E−07 | 1 |
Energy use does not Granger-cause real GDP per capita | 1.88856 | 1.73847 | 0.0821 | 1 | |
Asia-Pacific region | Real GDP per capita does not Granger-cause energy use | 2.58086 | 0.74883 | 0.4540 | 2 |
Energy use does not Granger-cause real GDP per capita | 5.58611 | 5.82965 | 6.E−09 | 2 | |
Big Four in Western Europe | Real GDP per capita does not Granger-cause energy use | 3.36903 | 2.92718 | 0.0034* | 1 |
Energy use does not Granger-cause real GDP per capita | 1.34434 | 0.35767 | 0.7206 | 1 | |
BRICS | Real GDP per capita does not Granger-cause energy use | 0.83674 | −0.24812 | 0.8040 | 1 |
Energy use does not Granger-cause real GDP per capita | 2.77734 | 1.88470 | 0.0595 | 1 | |
ECO | Real GDP per capita does not Granger-cause energy use | 16.2136 | 16.6519 | 0.0000* | 1 |
Energy use does not Granger-cause real GDP per capita | 2.49738 | 1.57701 | 0.1148 | 1 | |
Group of Seven | Real GDP per capita does not Granger-cause energy use | 10.4306 | 15.7275 | 0.0000* | 1 |
Energy use does not Granger-cause real GDP per capita | 2.98822 | 3.23298 | 0.0012* | 1 | |
Next Eleven | Real GDP per capita does not Granger-cause energy use | 4.69690 | 7.64871 | 2.E−14 | 1 |
Energy use does not Granger-cause real GDP per capita | 5.20540 | 8.71888 | 0.0000* | 1 | |
SAARC | Real GDP per capita does not Granger-cause energy use | 1.02665 | −0.05086 | 0.9594 | 1 |
Energy use does not Granger-cause real GDP per capita | 9.77719 | 12.3651 | 0.0000* | 1 | |
World sample | Real GDP per capita does not Granger-cause energy use | 5.74984 | 26.7688 | 0.0000* | 1 |
Energy use does not Granger-cause real GDP per capita | 2.23745 | 6.70996 | 2.E−11 | 1 |
Statistics | Model with intercept | Model with trend | |||||
---|---|---|---|---|---|---|---|
Value | Z-value | P-value | Value | Z-value | P-value | ||
BRICS | Gt | −4.369 | −4.997 | 0.000 | −4.010 | −3.504 | 0.000 |
Ga | −23.489 | −5. 201 | 0.000 | −24.688 | −3.229 | 0.001 | |
Pt | −6.332 | −3.847 | 0.000 | −5.953 | −2.623 | 0.004 | |
Pa | −22.190 | −7.007 | 0.000 | −22.953 | −3.961 | 0.000 | |
Next Eleven | Gt | −1.728 | 0.183 | 0.573 | −2.421 | −0.222 | 0.412 |
Ga | −4.998 | 1.307 | 0.904 | −7.746 | 2.081 | 0.981 | |
Pt | −0.595 | 4.231 | 1.000 | −4.915 | 2.391 | 0.992 | |
Pa | −0.242 | 2.980 | 0.999 | −2.942 | 3.241 | 0.999 | |
ECO | Gt | −0.243 | 2.959 | 0.999 | −2.033 | 0.710 | 0.761 |
Ga | −1.599 | 1.764 | 0.961 | −3.251 | 2.231 | 0.987 | |
Pt | 0.770 | 3.297 | 1.000 | −1.724 | 2.213 | 0.987 | |
Pa | 0.587 | 1.879 | 0.970 | −2.306 | 1.872 | 0.969 | |
Big Four in Western Europe | Gt | −2.295 | −1.152 | 0.125 | −2.696 | −0.812 | 0.208 |
Ga | −12.127 | −1.832 | 0.034 | −11.706 | 0.090 | 0.536 | |
Pt | 0.697 | 3.613 | 1.000 | −3.092 | 1.295 | 0.902 | |
Pa | 0.828 | 2.279 | 0.989 | −3.719 | 1.701 | 0.956 | |
Asia-Pacific region | Gt | −2.365 | −2.530 | 0.006 | −2.421 | −0.261 | 0.397 |
Ga | −12.430 | −3.762 | 0.000 | −13.242 | −0.701 | 0.242 | |
Pt | −9.287 | −3.702 | 0.000 | −8.028 | 0.176 | 0.570 | |
Pa | −11.345 | −6.207 | 0.000 | −11.655 | −1.720 | 0.043 | |
Group of Seven | Gt | −2.633 | −2.520 | 0.006 | −2.831 | −1.513 | 0.065 |
Ga | −13.333 | −3.009 | 0.001 | −12.795 | −0.305 | 0.380 | |
Pt | −2.293 | 1.546 | 0.939 | −3.871 | 1.964 | 0.975 | |
Pa | −3.147 | 0.646 | 0.741 | −4.877 | 1.750 | 0.960 | |
Arab League | Gt | −1.629 | 0.548 | 0.708 | −1.777 | 2.405 | 0.992 |
Ga | −100.936 | −57.145 | 0.000 | −67.851 | −27.235 | 0.000 | |
Pt | −2.223 | 2.593 | 0.995 | −1.630 | 6.147 | 1.000 | |
Pa | −1.901 | 1.740 | 0.959 | −1.806 | 3.855 | 1.000 | |
SAARC region | Gt | −2.532 | −1.877 | 0.030 | −2.579 | −0.584 | 0.280 |
Ga | −14.997 | −3.226 | 0.001 | −13.943 | −0.635 | 0.263 | |
Pt | −5.671 | −2.448 | 0.007 | −4.531 | 0.220 | 0.587 | |
Pa | −15.506 | −5.679 | 0.000 | −14.606 | −2.069 | 0.019 | |
World sample | Gt | −2.715 | −1.807 | 0.035 | −2.331 | 0.077 | 0.530 |
Ga | −9.223 | −0.662 | 0.254 | −9.136 | 0.733 | 0.768 | |
Pt | −2.751 | −0.245 | 0.403 | −2.054 | 1.835 | 0.967 | |
Pa | −2.694 | 0.599 | 0.726 | −4.068 | 1.374 | 0.915 |
Group | Countries | Number of countries |
---|---|---|
BRICS | China, India, Brazil | 3 |
Next Eleven | Indonesia, Pakistan, Bangladesh, Philippines, Vietnam, Egypt, Iran, Turkey, Republic of Korea, Nigeria, Mexico | 11 |
Economic Cooperation Organization | Pakistan, Iran, Turkey | 3 |
Big Four in Western Europe | Germany, France, Italy, United Kingdom | 4 |
Asia-Pacific region | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippine, Thailand, Myanmar, Malaysia, Nepal, Argentina, Australia, Austria | 15 |
Group of Seven | Japan, Canada, Germany, France, United States, Italy, United Kingdom | 7 |
Arab League | Algeria, Egypt, Saudi Arabia, Sudan, Oman, Morocco, Jordan, Iraq, United Arab Emirates, Syria, Tunisia, | 11 |
SAARC | India, Pakistan, Bangladesh, Nepal, Sri-Lanka | 5 |
World sample | United Arab Emirates, Argentina, Australia, Austria, Belgium, Benin, Bangladesh, Bolivia, Brazil, Canada, Switzerland, Chile, China, Cote d’Ivoire, Cameroon, Democratic Republic of Congo, Republic of Colombia, Costa Rica, Cuba, Cyprus, Germany, Denmark, Dominican Republic, Algeria, Ecuador, Arab Republic of Egypt, Spain, Finland, France, Gabon, United Kingdom, Ghana, Greece, Guatemala, Hong Kong SAR, China, Honduras, Haiti, India, Ireland, Islamic Republic of Iran, Iraq, Iceland, Israel, Italy, Jamaica, Jordan, Japan, Kenya, Republic of Korea, Sri Lanka, Luxembourg, Morocco, Mexico, Malta, Myanmar, Malaysia, Nigeria, Nicaragua, Netherlands, Norway, Nepal, New Zealand, Oman, Pakistan, Panama, Peru, Philippines, Portugal, Paraguay, Saudi Arabia, Sudan, Senegal, Singapore, El Salvador, Sweden, Thailand, Tunisia, Turkey, Uruguay, United States, Zambia. | 85 |