Oil Consumption and Economic Growth in China: A Multivariate Cointegration Analysis

@article{Zhao2008OilCA,
  title={Oil Consumption and Economic Growth in China: A Multivariate Cointegration Analysis},
  author={Chang-hong Zhao and Jiahai Yuan and Jian-gang Kang},
  journal={2008 International Conference on Risk Management & Engineering Management},
  year={2008},
  pages={178-183}
}
Using an aggregate production model where capital, labor and energy are treated as separate inputs, this paper tests for the existence and direction of causality between output growth and oil consumption in China. Using the Johansen cointegration technique, the empirical findings indicate that there exists long-run cointegration among output, labor, capital… CONTINUE READING