The effect of energy consumption on economic growth in brics countries: Evidence from panel quantile bayesian regression

Abstract

© Springer Nature Switzerland AG 2019. Energy consumption and economic growth relationship is an important global issue. Thus, in this study, we investigate the energy and economy nexus in the five major emerging national economies or BRICS countries, namely, Brazil, Russia, India, China and South Africa over the period 1990 to 2016 using Panel Quantile Bayesian regression approach. The results show that the effect of energy consumption on economic growth is positive and significant at the 95% Bayesian credible interval level for all quantiles. Meanwhile, other control variables are not statistically significant in affecting the energy consumption.