A Panel Data Model Analysis on Relativity Between Regional Energy Consumption and Economic Growth

Abstract

This paper applied panel data model to research the relativity between economic growth and energy consumption in 4 economic zones. Panel root test, panel cointegration test were made to estimate long-term relativity between them, the variable coefficient model proved that regional economy depends heavily on energy consumption, the uneven regional economic development led to differences in regional energy consumption. Faced with differences and imbalances both in energy consumption and economic growth among various regions, the specific regional conditions in formulating energy development strategies and specific energy policies should be considered on national level, strive to narrow regional differences, and promote the coordinated development of the national economy.