A road to enhancements in natural gas use in Iran: A multivariate modelling approach

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dc.contributor.authorBalsalobre-Lorente, Daniel
dc.contributor.authorBekun, Festus Victor
dc.contributor.authorEtokakpan, Mfonobong Udom
dc.contributor.authorDriha, Oana M.
dc.date.accessioned2020-01-04T17:19:28Z
dc.date.available2020-01-04T17:19:28Z
dc.date.issued2019en_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.description.abstractThe primary focus of this study is to empirically investigate the natural gas consumption-economic growth nexus in Iran, while incorporating real gross fixed capital formation (GFCF) and the role of oil revenue (OR) as additional variables to make it a multivariate framework in order to avoid possible omission variable bias in the estimations. To this end, quarterly frequency data from 1990Q1 to 2017Q4. Structural break point unit root test like Zivot and Andrews is employed and complemented with traditional non-stationarity tests such as Augmented Dickey Fuller and Phillips and Perron unit tests to investigate the interest variables stationarity characteristics. Recently developed Bayer and Hanck (2013) combined cointegration test is used alongside the Pesaran et al. (2001) bounds testing cointegration to test for long-run relationship among the variables. Finally, we test for causal relationships through Modified Wald test of Tada-Yamamoto (1995) Granger causality tests is employed. Empirical findings show cointegration relationship between the variables while accounting for structural break. Further piece of empirical results suggest that natural gas consumption exerts a significant positive impact on economic output in Iran, and also that there is a one-way causality from natural gas consumption to economic output. Thus, our study corroborates the natural gas-led growth hypothesis; being natural gas consumption a suitable alternative, as a complementary green energy source (IGU, 2015). One important conclusion reached in our study is that there is need for energy portfolio diversification in Iran in order to attain full gains from the energy sector, reducing other energies' emissions. Further insights are elucidated in the main text. Our findings provide policymakers useful insight into the state of the energy sector in Iran.en_US
dc.identifier.doi10.1016/j.resourpol.2019.101485en_US
dc.identifier.issn0301-4207
dc.identifier.issn1873-7641
dc.identifier.scopus2-s2.0-85072585083en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://hdl.handle.net/11363/1608
dc.identifier.urihttps://doi.org/
dc.identifier.volume64en_US
dc.identifier.wosWOS:000503094300012en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLANDen_US
dc.relation.ispartofRESOURCES POLICYen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectNatural gasen_US
dc.subjectEconomic growthen_US
dc.subjectCombined cointegrationen_US
dc.subjectIranen_US
dc.subjectECONOMIC-GROWTH NEXUSen_US
dc.subjectRESIDUAL-BASED TESTSen_US
dc.subjectENERGY-CONSUMPTIONen_US
dc.subjectUNIT-ROOTen_US
dc.subjectFINANCIAL DEVELOPMENTen_US
dc.subjectCAUSAL RELATIONSHIPen_US
dc.subjectERROR-CORRECTIONen_US
dc.subjectCO2 EMISSIONSen_US
dc.subjectTHRESHOLD COINTEGRATIONen_US
dc.subjectSTATISTICAL-INFERENCEen_US
dc.titleA road to enhancements in natural gas use in Iran: A multivariate modelling approachen_US
dc.typeArticleen_US

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