Naslov
Macroeconomic Impacts of Electricity Generation on Croatian Real GDP: Causality Analysis

Autori
Jakovac, Pavle ; Vlahinić Lenz, Nela ; Žiković, Saša

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Entrepreneurship, Business and Economics - Vol. 2 ; Proceedings of the 15th Eurasia Business and Economics Society Conference / Huseyin Bilgin, Mehmet ; Danis, Hakan - Istanbul : Springer, 2016, 209-230

ISBN
978-3-319-27573-4

Skup
15th Eurasia Business and Economics Society Conference

Mjesto i datum
Lisabon, Portugal, 08.01.2015. - 10.01.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Economic growt, Electricity generation, Causality analysis, ARDL, Croatia

Sažetak
This paper examines the causal relationship between electricity generation and economic growth in Croatia using data for the period 1966–2010. The analyzed time span includes the periods of both the socialist and market based economy. Based on a detailed review of previous empirical studies it is possible to conclude that this issue has not been systematically explored and analyzed using Croatia as an example. In our analysis, we use a multivariate model (a conventional multifactor neoclassical aggregate production function) of real GDP and electricity generation together with capital stock, employment and technological progress. In order to get robust results this paper applies the autoregressive distributed lag (ARDL) cointegration procedure with a time break as an appropriate quantitative method when analyzing small samples. The empirical results provide clear support of a unidirectional causality that runs from electricity generation to real GDP in both short- and long-term. Electricity generation has a positive and statistically significant impact on Croatian real GDP. This means that stable, adequate and uninterrupted electricity supply is one of the crucial determinants of Croatia’s economic growth. Croatia should adopt a more vigorous economic policy that should aim to increase investments in the electricity infrastructure.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
Ovaj rad je sufinancirala Hrvatska zaklada za
znanost projektom IP-2013-11-2203 te
Sveučilište u Rijeci potporom istraživanjima
br. 13.02.1.3.05. DOI: 10.1007/978-3-319-27573-
4_14 ; Online ISBN: 978-3-319-27573-4 ; Series
ISSN: 2364-5067 Zbornik radova je indeksiran u
THOMSON REUTERS ISI CONFERNCE PROCEEDINGS
CITATION INDEX (integrirani indeks u sklopu Web
of Science™ Core Collection).

POVEZANOST RADA