南亚国家能源消耗与经济增长：共同协整的面板分析【外文翻译】

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1、本科毕业论文外文翻译外文题目：EnergyConsumptionAndEcomomicGrowthInSouthAsianCountries:ACo-integratedPanelAnalysis出处：InternationalJournalofBusinessandEconomicSciences2010（4）:245-250作者：S.NoorandM.WSiddiqiEnergyConsumptionandEconomicGrowthinSouthAsianCountries:ACo-integratedPanelAnalysisS.NoorandM.W.SiddiqiAbst

2、ractThisstudyexaminescausallinkbetweenenergyuseandeconomicgrowthforfiveSouthAsiancountriesoverperiod1971-2006.Panelcointegration,ECMandFMOLSareappliedforshortandlongrunestimates.InshortrununidirectionalcausalityfrompercapitaGDPtopercapitaenergyconsumptionisfound,butnotviceversa.Inlongrunoneper

3、centincreaseinpercapitaenergyconsumptiontendtodecrease0.13percentpercapitaGDP.I.e.Energyusediscourageeconomicgrowth.ThisshortandlongrunrelationshipindicateenergyshortagecrisisinSouthAsiaduetoincreasedenergyusecoupledwithinsufficientenergysupply.Besidethislongrunestimatedcoefficientoferrorterms

4、uggestthatshorttermadjustmenttoequilibriumaredrivenbyadjustmentbacktolongrunequilibrium.Moreover,percapitaenergyconsumptionisresponsivetoadjustmentbacktoequilibriumandittakes59yearsapproximately.Itspecifieslongrunfeedbackbetweenbothvariables.1.IntroductionEnergyistheengineofeconomicgrowth,asma

5、nyproductionandconsumptionactivitiesinvolveenergyasbasicinput.Onproductionside,conventionallyeconomistssinceAdamSmithhavetalkedaboutland,labor,andcapitalasmajorinputsforeconomicactivity.Theseinputsweresignificantingredientsofagrarianeconomiesof17thand18thcenturies.However,in19thcentury,thegrow

6、thofindustrialnationshasobservedafourthmajorinputthatisenergy.Onconsumptionside,intheKeynesianframeworkwhereconsumptionandincomearesignificantlycorrelated,similarlyenergyconsumptioninallformsdriveseconomicproductivity.Itleadstoeconomicgrowthandprosperitywhichensuresexpansionoftheeconomyinterms

7、ofhigherGDPandGDPpercapita.Thepreeminentcaseoftheprimaryroleofenergythatitplaysanimportantroleintheeconomywasfoundin1970senergycrisis.In1stoilcrisisOAPECrestrainedoilconsignmenttoUSandothercountriesastheysupportedIsraelinconflict.Restri