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Trade and energy consumption in the Middle East
No full textOver the past 30Â years many economies have experienced large increases in economic trade, income and energy consumption. This brings up an interesting question. How do increases in trade affect energy consumption? This study uses panel cointegration data estimation techniques to examine the impact of trade on energy consumption in a sample of 8 Middle Eastern countries covering the period 1980 to 2007. Short-run dynamics show Granger causality from exports to energy consumption, and a bi-directional feedback relationship between imports and energy consumption. Long run elasticities estimated from FMOLS show that a 1% increase in per capita exports increases per capita energy consumption by 0.11% while a one percent increase in per capita imports increases per capita energy consumption by 0.04%. These results are important in establishing that increased trade affects energy demand in the Middle East in both the short and long-run. This has implications for energy policy and environmental policy.Energy consumption Middle East economies Panel cointegration Exports
Renewable energy consumption and income in emerging economies
No full textIncreased economic growth and demand for energy in emerging economies is creating an opportunity for these countries to increase their usage of renewable energy. This paper presents and estimates two empirical models of renewable energy consumption and income for a panel of emerging economies. Panel cointegration estimates show that increases in real per capita income have a positive and statistically significant impact on per capita renewable energy consumption. In the long term, a 1% increase in real income per capita increases the consumption of renewable energy per capita in emerging economies by approximately 3.5%. Long-term renewable energy per capita consumption price elasticity estimates are approximately equal to -0.70.Renewable energy Panel cointegration Emerging economies
Assessing the impact of oil prices on firms of different sizes: Its tough being in the middle
No full textRecent empirical research has found evidence of a relationship between oil price movements and stock prices. Most published research investigates the relationship between oil price movements and stock prices using either economy-wide measures of stock prices or industry sector measures of stock prices. An important question that has largely gone unanswered relates to the relationship between oil prices and stock prices when the size of firms is allowed to vary. Relative to large firms, do oil price movements have larger or smaller impacts on the stock prices of small- or medium-sized firms? The answer to this question could have important policy implications that affect economic growth and prosperity. In this paper, a panel of firms is followed over a 17-year period to investigate the relationship between oil price movements, firm size, and stock prices. Evidence is found that shows the relationship between oil price movements and stock prices does vary with firm size and the relationship is strongest for medium-sized firms.Firm size Oil prices Stock prices
The impact of financial development on energy consumption in emerging economies
No full textFinancial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand. This study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries. Several different measures of financial development are examined. Using a panel data set on 22 emerging countries covering the period 1990-2006, the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to GDP, stock market value traded to GDP, and stock market turnover. The implications of these results for energy policy are discussed.Energy consumption Financial development Emerging economies
Financial development and energy consumption in Central and Eastern European frontier economies
No full textThis study examines the impact of financial development on energy consumption in a sample of 9 Central and Eastern European frontier economies. Several different measures of financial development are examined including bank related variables and stock market variables. The empirical results, obtained from dynamic panel demand models, show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to GDP, financial system deposits to GDP, or liquid liabilities to GDP. Of the three stock market variables investigated, only one, stock market turnover, has a positive and statistically significant impact on energy consumption. Both short-run and long-run elasticities are presented. The implications of these results for energy policy are discussed.Energy consumption Financial development Frontier economies
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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