|標題:||Examining Asymmetric Behavior Between Energy Consumption and Economic Growth in Taiwan|
|作者:||Hu, J. -L.|
Lin, C. -H.
Institute of Business and Management
|摘要:||Energy consumption growth has recently been higher than economic growth in Taiwan, worsening energy efficiency. This article utilizes the momentum-threshold autoregressive cointegration method to examine the long-run equilibrium relationship between economic growth and energy consumption growth, particularly focusing on the most energy-consuming sectors in Taiwan. Allowing for a threshold effect sheds new light on the explanation of the non-linear characteristics of the energy-growth link The results indicate that economic growth is non-linearly cointegrated with energy consumption when the asymmetric adjusting behavior is confirmed. Specifically, we find that the deviations adjust persistently toward equilibrium in a relative energy efficiency regime for the aggregate-level, while for the sector level in a relative energy inefficiency regime. The government authority should conduct effective energy demand-side management to improve energy efficiency.|
|期刊:||ENERGY SOURCES PART B-ECONOMICS PLANNING AND POLICY|