Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Energy consumption and gross domestic product in the Philippines: an application of maximum entropy bootstrap framework

Energy consumption and gross domestic product in the Philippines: an application of maximum... We employ the maximum entropy bootstrap (MEB) framework to provide convincing evidence on the energy consumption (EC) and gross domestic product (GDP) nexus between 1975 and 2010 in the Philippines. We also perform a cointegration analysis and Granger causality test of the data to illustrate the advantages of MEB approach. This paper shows more accurate inference in comparison to conventional hypothesis tests based on asymptotic theory. Without employing MEB, the result of causality is very sensitive to a very small sample size and time period chosen that made the results inconsistent. Therefore, MEB framework is robust to time period chosen and even in a very small sample size. The analysis shows no evidence of a causal relationship between EC and GDP in the Philippines. The findings emphasise the fact that the Philippines is a less developed country and predominantly agrarian-based; thus, energy dependent. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Computational Economics and Econometrics Inderscience Publishers

Energy consumption and gross domestic product in the Philippines: an application of maximum entropy bootstrap framework

Loading next page...
 
/lp/inderscience-publishers/energy-consumption-and-gross-domestic-product-in-the-philippines-an-yuiEt6He1f

References

References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.

Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1757-1170
eISSN
1757-1189
DOI
10.1504/IJCEE.2018.088309
Publisher site
See Article on Publisher Site

Abstract

We employ the maximum entropy bootstrap (MEB) framework to provide convincing evidence on the energy consumption (EC) and gross domestic product (GDP) nexus between 1975 and 2010 in the Philippines. We also perform a cointegration analysis and Granger causality test of the data to illustrate the advantages of MEB approach. This paper shows more accurate inference in comparison to conventional hypothesis tests based on asymptotic theory. Without employing MEB, the result of causality is very sensitive to a very small sample size and time period chosen that made the results inconsistent. Therefore, MEB framework is robust to time period chosen and even in a very small sample size. The analysis shows no evidence of a causal relationship between EC and GDP in the Philippines. The findings emphasise the fact that the Philippines is a less developed country and predominantly agrarian-based; thus, energy dependent.

Journal

International Journal of Computational Economics and EconometricsInderscience Publishers

Published: Jan 1, 2018

There are no references for this article.