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Pregled bibliografske jedinice broj: 749244

Zbornik radova

Autori: Jakovac, Pavle; Vlahinić, Nela; Žiković, Saša
Naslov: Macroeconomic Impacts of Electricity Generation on Croatian Real GDP: Causality Analysis
( Macroeconomic Impacts of Electricity Generation on Croatian Real GDP: Causality Analysis )
Izvornik: 15th EBES Conference - Lisbon Program and Abstract BookIstanbul : Teknik Basim Matbaacilik , 2016. 209-230 (ISBN: 978-3-319-27572-7).
Skup: 15th EBES Conference - Lisbon
Mjesto i datum: Lisabon, Portugal, 08-10.01.2015.
Ključne riječi: Economic Growth ; Electricity Generation ; Causality Analysis ; ARDL ; Croatia
( Economic Growth ; 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 from 1966 to 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 the context of adjusting the Croatian electricity sector to the EU’s internal electricity market, knowing the direction and intensity of causal relationship represents an important foundation for design and implementation of the appropriate economic and energy policy. 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. The variable representing technological progress was constructed using principal component analysis since there is no single variable that describes Croatia’s research and innovation capacity. 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 primarily through construction of new and revitalization of existing electricity generating capacities.
Rad je indeksiran u
bazama podataka:
Conference Proceedings Citation Index - Social Science & Humanities (CPCI-SSH) (sastavni dio Web of Science Core Collectiona)
Vrsta sudjelovanja: Predavanje
Vrsta prezentacije u zborniku: Sažetak
Vrsta recenzije: Međunarodna recenzija
Projekt / tema: 13.02.1.3.05, HRZZ-IP-2013-11-2203
Izvorni jezik: eng
Kategorija: Znanstveni
URL Internet adrese: https://www.ebesweb.org/Portals/0/15th%20EBES%20Conference%20Lisbon%20-%20Program.pdf
Upisao u CROSBI: Pavle Jakovac (pavle.jakovac@efri.hr), 25. Sij. 2015. u 20:17 sati
Napomene:
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.



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