期刊名称：The Journal of Sustainable Development in Africa (JSDA)
电子版ISSN：1520-5509
出版年度：2013
卷号：15
期号：5
出版社：Institute of Sustainable Development in Africa
摘要：The paper established the causal nexus among oil price, energy consumption and economic growth in Nigeria. The paper also examined the implicatio n of such caul relationship of sustainable economic development in Nigeria. Both U nit root and integration test were conducted to determine the time series properties of the variables before Vector Error Correction technique was used to determine the causal relationship and draw policy inferences. The results revealed that the result indicated that energy consumption is inco me elastic and th ere is significant negative bidirectional causality between do mestic investment and energy consumption. A significant positive unidirectional causality was detected fro m economic growth to energy consumption but not vice versa. Changes in world oil prices d id not affect the total energy consumption, domestic investment and economic growth in Nigeria. This suggests that increase in the level of economic activities induced greater energy demand and consumption. The policy implication was that economic development has significant impacts on energy, therefore, energy demand and consumption can only be curtailed at greater cost on sustainable economic growth. Therefore to keep the tempo of current improvement in economic growth parameter and to further enhances sustainable eco nomic development in Nigeria, energy conservation policy especially energy saving policy and energy efficiency strategy are more effective for sustainable economic development in Nigeria
关键词：Energy Consumption; Domestic investment; Sustainable Development and Growth; VECM Granger ;Causality
