An Investigation of the Effective Factors on Energy Consumption in Selected OECD Countries

Sara Shafieian¹ Mehdi Behname² Taghi Ebrahimi Salari³

1) MSc Student of Energy Economics, Ferdowsi University of Mashhad
2) Assistant Professor of Economics, Ferdowsi University of Mashhad
3) Assistant Professor of Economics, Ferdowsi University of Mashhad

IOI Code : XYCH-AEDDZ
Publication : 3rd International conference on Management , Economics and Humanities(icmeh.org)
Abstract :
    Investigating the effective factors on energy consumption is one of the fundamental issues in the economy. Since the developed and industrial countries use energy as one of the main input in the processes of economic and devoted a high level of energy consumption to itself, identifying the important variables in energy consumption can help planners to design community’s future goals. Therefore, this study aimed to identify the variables affecting energy consumption in the selected OECD countries in 1990 to 2010. This research examined the energy consumption using panel data and variables such as urbanization growth rate, commercial freedom growth rate, the industrial sector growth rate and gross domestic product growth rate. The results showed that the unilateral random-effects model of time accepted. The results also showed two variables of gross domestic product growth rate and the industrial sector growth rate are considered respectively as the important and effective factors of energy consumption in the countries.

Keywords : energy energy consumption oecd countries panel data