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Abstract
This paper investigates the relationship between energy consumption and macroeconomic performance in Brazil. Using time series data from 1970 to 2000,the study employs cointegration and error correction models to analyse the long-run and short-run dynamics. The findings suggest a unidirectional causality from energy consumption to GDP, indicating that energy is a significant driver of economic growth in Brazil. The results also highlight the importance of energy policy in fostering enduring economic growth.
Keywords
Energy consumption, macroeconomic performance, economic growth, Brazil, cointegration, error correction model, causality
JEL Classification
- Q40 – Energy Economics – – General
- Q43 – Energy Economics – – Energy Markets and Pricing – – – Energy and Macroeconomic Issues
- C32 – Mathematical and Quantitative Methods – – Econometric Modeling – – – Time Series Models; Dynamic Models; simulation Models; econometric Model Evaluation
- E00 – Macroeconomics and Monetary Economics – – General
- O40 – Economic Development, Innovation, Technological Change, and Growth – – Economic Growth and Aggregate Productivity – – – General
Statistics
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