Research on the coordination of energy in China's economic growth

PLoS One. 2021 Jun 11;16(6):e0251824. doi: 10.1371/journal.pone.0251824. eCollection 2021.

Abstract

This study uses the improved Cobb-Douglas two-factor production function model to explore the potential relationship between economic growth and energy consumption through the multiple co-integration test on the panel data of China from 1985 to 2018. The results show that there is a positive long-term balance between energy consumption and economic growth: economic growth of 1%, total energy consumption growth of 1.53%, which means that economic growth needs higher energy support in the former short term. At the same time, the error correction term will converge energy consumption to a long-term equilibrium state with an adjustment intensity of 134.59%. From the results of variance decomposition, we can also see that as the number of periods increases, the part of real economic growth explained by energy consumption gradually increases.

Publication types

  • Research Support, Non-U.S. Gov't

MeSH terms

  • China
  • Economic Development*
  • Power Plants

Grants and funding

This study was supported by the National Natural Science Foundation of China (NO.91646201) to YC, the National Key R&D Program of China (No. 2017YFC0803300) to YC, and the National Social Science Foundation of China (No. 19ZDA081) to YC. China Datang Corporation Ltd., Beijing, China provided support in the form of salaries for JL. State Power Investment Group Corporation, Beijing, China provided support in the form of salaries for BC. The specific roles of the authors are articulated in the “author contributions” section. The funders did not have any additional role in the study design, data collection and analysis, decision to publish, or preparation of the manuscript.