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2020•Journal of Economic InfoOpen access

ECONOMETRIC MODELLING OF THE CONSUMPTION OF ELECTRICITY IN GHANA WHEN STRUCTURAL BREAKS EXIST

Samuel Yeboah Asuamah

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Abstract

The research modelled electricity consumption for Ghana using annual data for the period 1971-2011, obtained from world development indicator. The research adopts the Gregory and Hansen model of cointegration for the estimation in the presence of structural breaks. The results reveal stable short run and long-run relationships among the explanatory variables and electricity consumption. The findings suggest that financial development explain electricity consumption in Ghana both in the short run and in the long run. The other variables (trade openness, price, and income) in the estimated model do not significantly explain electricity consumption. Therefore, they are not reliable policy variables in managing electricity consumption.

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What this paper is about

The research modelled electricity consumption for Ghana using annual data for the period 1971-2011, obtained from world development indicator. The research adopts the Gregory and Hansen model of cointegration for the estimation in the presence of structural breaks. The results reveal stable short run and long-run relationships among the explanatory variables and electricity consumption. The findings suggest that financial development explain electricity consumption in Ghana both in the short run and in the long run. The other variables (trade openness, price, and income) in the estimated model do not significantly explain electricity consumption. Therefore, they are not reliable policy variables in managing electricity consumption.

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Available abstract

The research modelled electricity consumption for Ghana using annual data for the period 1971-2011, obtained from world development indicator. The research adopts the Gregory and Hansen model of cointegration for the estimation in the presence of structural breaks. The results reveal stable short run and long-run relationships among the explanatory variables and electricity consumption. The findings suggest that financial development explain electricity consumption in Ghana both in the short run and in the long run. The other variables (trade openness, price, and income) in the estimated model do not significantly explain electricity consumption. Therefore, they are not reliable policy variables in managing electricity consumption.

Key concepts: Cointegration, Electricity, Consumption (sociology), Economics, Openness to experience, Econometrics, Econometric model, Short run

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