Relationship among Electricity Consumption, Economic Growth, Consumer Price Index and Foreign Direct Investment in Pakistan: A Time Series Analysis

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2014
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Abstract
This research paper investigates a relationship among electric power consumption, economic growth, Consumer Price Index (CPI) and Foreign Direct Investment (FDI) in Pakistan, by applying Granger Causality Test for the period 1971-2010. Vector Error Correction Model has been applied to determine the short run and long run Causality. The empirical results have confirmed the presence of short run and long run Causality among variables. The results have shown the Bi-directional Granger Causality between Consumer Price Index and electric power consumption in Pakistan. Furthermore, the results reveal that there is evidence of bidirectional Causality between electric power consumption and Foreign Direct Investment. This implies that electric power consumption may increase in-flow of Foreign Direct Investment into Pakistan and thus reduce deficit and help in improving balance of payment. There is also evidence of Unidirectional Causality running from electric power consumption to economic growth. Findings of the study dictate that policy makers should be proficient enough to boost the economic fabric of the country.
Reference Key
imported_1780934259_6a26e6731a265 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Zahid Ahmad, Samia Kanwal, Jaffer Hussian
Journal Journal of Statistics
Year 2014
DOI
DOI not found
URL
https://jstat.gcu.edu.pk/index.php/jstat/article/view/85
Keywords Keywords not found

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