THE LINKAGE BETWEEN ECONOMIC GROWTH AND ENERGY CONSUMPTION: EVIDENCE FROM ASIAN ECONOMIES
DOI:
https://doi.org/10.53273/y07e8h91Abstract
Energy provides many benefits along with a multitude of economic growth and development. However, billions are still relying on traditional fuels causing pollution and health issues. The study analyzes the linkage between energy consumption and economic growth based on per capita GDP for 8 major economies of Asia based on their size of GDP. Through the method of ANOVA, correlation, and time series analysis it has been seen that there is an increase in energy consumption along with the increase in the per capita GDP of an economy. The goodness of fit relation also concludes a direct and positive relationship between the consumption of energy and per capita GDP.
Keywords: Energy, consumption, GDP, linkage, analysis.
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