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Causal relationship of Taiwan GDP and energy consumption : the one-way effect approach 姚, 峰 ヨウ, ホウ Yao, Feng 陳, 燕武 Chen, Yanwu 呉, 承業 Wu, Chengye 潘, 文雨 Pan, Wenyu open access Cointegration Energy consumption Granger's non-causality Taiwan GDP VAR Model Wald test of one-way effect In this paper we apply the approach of one-way effect causal measure to the investigation of causal relationship between GDP and energy consumption of Taiwan during the period of 1954-2005. The Wald test of one-way effect causal measure shows us that GDP and total energy consumption affect each other, whereas the effects of GDP to oil consumption and to electricity consumption are only one-way. The observed one-way effects between GDP and energy consumption are only long-run. Based on error-correction model, we also find that the three pares of economic time series, GDP and energy consumption, GDP and oil consumption, GDP and electricity consumption in the time period we concerned are all cointegrated. 香川大学経済学会 Economic Society, Kagawa University 2010-03-01 eng departmental bulletin paper VoR https://kagawa-u.repo.nii.ac.jp/records/8157 40017034982 AN00038281 0389-3030 香川大学経済論叢 The Kagawa University economic review 82 4 513 534 https://kagawa-u.repo.nii.ac.jp/record/8157/files/AN00038281_082-4_L069.pdf application/pdf 3.3 MB