The Relationship between Electricity Consumption and Economic Growth in BRICS Countries


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Authors

  • Heru Wahyudi University of Lampung, Bandar Lampung, Indonesia

DOI:

https://doi.org/10.32479/ijeep.15500

Keywords:

Electrical Energy, FMOLS, GDP, Investment, Labor Force

Abstract

This study analyzed the Gross Domestic Product (GDP) determinants in Brazil, Russia, India, China, and South Africa (BRICS). The method used in this study is a Fully Modified Ordinary Least Square (FMOLS) panel that can overcome the problem of non-stationary panels and the effect of heterogeneity between countries. The analysis range of this study is from 1992 to 2021, with three independent variables, namely electrical energy consumption, labor force, and gross fixed capital formation (GFCF) or investment. The results showed a significant favorable influence on energy consumption, labor force, and investment in GDP in BRICS countries from 1992-2021. This research resulted in a review of one of the policy recommendations to improve the economy in BRICS countries.

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Published

2024-03-15

How to Cite

Wahyudi, H. (2024). The Relationship between Electricity Consumption and Economic Growth in BRICS Countries. International Journal of Energy Economics and Policy, 14(2), 349–356. https://doi.org/10.32479/ijeep.15500

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