The Impact of Energy Consumption on Malaysia Gross Domestic Product
This study tries to examine on how energy consumption affects economic growth in Malaysia. Using three decades data from 1978 to 2012, the data have been tested for unit root, cointegration and Granger causality tests to examine the statistical relationships between the variables. The analysis found that all variables are stationary at first difference and the analyses proceed with cointegration test. From the cointegration test, both trace statistics and max eigen statistics have detected two cointegrating vectors. It suggests that, long run equilibrium exist between variables. From the cointegration equation, there are positive relationship between energy consumption and GDP, and Price and GDP. It is said that, if the energy consumption and price increase, GDP increases too. However, for causal relationship, the study only found unidirectional causal relationship from GDP to Price.
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Document Type: Research Article
Affiliations: Faculty of Business Management, Universiti Teknologi MARA Pahang, 26400 Bandar Tun Razak Jengka, Pahang, Malaysia
Publication date: April 1, 2017
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