Analysis of Relationship between Energy Consumption and Economic Growth Before and After Asian Financial Crisis in Taiwan and South Korea

• Main Authors: Wen-Chi Chuang, 莊雯琪
• Other Authors: Hsien-Lang Tseng
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/65385285893462717008

碩士 === 國立中山大學 === 經濟學研究所 === 100 === Before a government makes economic policies, it must first fully understand the causality between energy consumption and economic growth. This study uses Chow Test, Unit Root Test, Co-integration Test, Vector Autoregressive Model, Vector Error Correction Model, Granger Causality Test, Impulse Response Function and Variance Decomposition to examine whether the relationships between energy consumption and economic growth for Taiwan and Korea had changed after the Asian Financial Crisis of 1997, in order to understand whether their economic policies have changed in response. Taiwan’s energy consumption and GDP had one-way effect – that is, her energy consumption affected GDP but not vice versa – while that of South Korea exhibited a two-way relationship. However, after the Crisis, such relationship for Taiwan had changed to that of two-way. The relationship between energy consumption and GDP for South Korea remained two-way after the Crisis.