Study on the Relationship between Energy Consumption and Economic Growth in the Guangdong-Hong Kong-Macao Greater Bay Area

DOI

10.2991/978-94-6463-415-0_45How to use a DOI?

Keywords

VAR model; Energy consumption; Economic growth

Abstract

Energy consumption acts as a catalyst for economic growth, as it provides the necessary power for industrial production, transportation, heating, and cooling. A reliable and affordable energy supply is essential for businesses to function efficiently and effectively. In this context, a steady and sufficient supply of energy contributes to increased productivity, job creation, and enhanced economic output. Traditional energy sources, such as fossil fuels, have significant environmental impacts, including greenhouse gas emissions, air pollution, and climate change. With the growth of the economy, the demand for energy increases, underscoring the importance of transitioning to cleaner and sustainable energy systems. Energy is the driving force of national economic development, which has a certain impact on the scale and speed of economic growth. This paper selects data such as GDP, total energy consumption, electricity consumption, natural gas consumption and coal consumption (the data is sourced from statistical yearbooks of various regions), Based on the analysis of the chart and the VAR model, an empirical analysis was made on the relationship between energy consumption and economic growth in the Guangdong-Hong Kong-Macao Greater Bay Area from 2010 to 2021. Through empirical test, it is found that energy consumption has a certain synergistic trend on economic growth and has a causal relationship. The two influence and promote each other. In addition, the efficiency of energy utilization is increasing, and the type of energy consumption is developing towards green energy.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Hongai Shi
AU  - Zicen Liao
AU  - Fan Yang
AU  - Caigong Lu
PY  - 2024
DA  - 2024/05/14
TI  - Study on the Relationship between Energy Consumption and Economic Growth in the Guangdong-Hong Kong-Macao Greater Bay Area
BT  - Proceedings of the 2023 9th International Conference on Advances in Energy Resources and Environment Engineering (ICAESEE 2023)
PB  - Atlantis Press
SP  - 421
EP  - 431
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-415-0_45
DO  - 10.2991/978-94-6463-415-0_45
ID  - Shi2024
ER  -