Are shocks to electricity consumption permanent or transitory? Evidence from new panel stationarity tests with gradual structural breaks for 18 MENA countries
This study re-examines the stationarity properties of per capita electricity consumption in 18 MENA countries from 1980-2021. We use a novel panel stationarity test with a Fourier approximation to capture structural breaks and nonlinearities in the data. This Fourier panel test accounts for cross-se...
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Published in | Applied economics letters Vol. ahead-of-print; no. ahead-of-print; pp. 1 - 5 |
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Main Authors | , |
Format | Journal Article |
Language | English |
Published |
Routledge
28.06.2023
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Abstract | This study re-examines the stationarity properties of per capita electricity consumption in 18 MENA countries from 1980-2021. We use a novel panel stationarity test with a Fourier approximation to capture structural breaks and nonlinearities in the data. This Fourier panel test accounts for cross-sectional dependence and allows heterogeneity across cross-sections in the panel. Moreover, we apply several new panel stationarity tests that complement the aforementioned Fourier test. The study finds strong empirical evidence supporting the stationarity of per capita electricity consumption in the MENA region when considering smooth structural breaks, and our results remain unchanged using sharp structural breaks panel stationarity test. Therefore, we conclude that policies to manage energy demand will have no long-run effect as per capita electricity consumption will, after a shock, return to its long-run trend path. |
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AbstractList | This study re-examines the stationarity properties of per capita electricity consumption in 18 MENA countries from 1980-2021. We use a novel panel stationarity test with a Fourier approximation to capture structural breaks and nonlinearities in the data. This Fourier panel test accounts for cross-sectional dependence and allows heterogeneity across cross-sections in the panel. Moreover, we apply several new panel stationarity tests that complement the aforementioned Fourier test. The study finds strong empirical evidence supporting the stationarity of per capita electricity consumption in the MENA region when considering smooth structural breaks, and our results remain unchanged using sharp structural breaks panel stationarity test. Therefore, we conclude that policies to manage energy demand will have no long-run effect as per capita electricity consumption will, after a shock, return to its long-run trend path. |
Author | Husein, Jamal G. Kara, S. Murat |
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CitedBy_id | crossref_primary_10_1016_j_jup_2024_101766 crossref_primary_10_1080_00036846_2024_2309467 |
Cites_doi | 10.1016/j.eneco.2016.09.015 10.24136/oc.2022.001 10.1007/s10614-017-9667-7 10.1111/obes.12169 10.1016/j.econmod.2021.105498 10.1002/jae.951 10.1016/j.energy.2020.118245 10.1016/j.rser.2016.11.252 10.1111/j.1368-423X.2005.00158.x 10.1016/j.tej.2017.11.014 10.1016/j.energy.2020.117174 10.1111/j.1468-0084.2005.00130.x 10.1016/j.econmod.2016.12.003 |
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Title | Are shocks to electricity consumption permanent or transitory? Evidence from new panel stationarity tests with gradual structural breaks for 18 MENA countries |
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