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Title: The inter-relationship between economic growth and electricity consumption in macao
Authors: Lai, TM
To, WM
Lo, WC 
Lam, KM
Keywords: Electricity consumption
Economic growth
Issue Date: 2011
Source: The International Conference on Electrical Engineering, Hong Kong, 10-14 July 2011 How to cite?
Abstract: Macao has enjoyed a phenomenal growth since its return to China in 1999. In 2007, Macao’s government collected US$10.4 billion in direct tax revenue from the gaming industry and Macao’s GDP per capita was estimated at US$36,357, making it one of the highest in the world. During the same period of time, the annual electricity consumption increased from 1,521 million kWh to 2,984 million kWh. In this paper, correlation and casual analyses were employed to examine the inter-relationship between economic growth and electricity consumption. The analyzed results show that economic growth and electricity consumption was significantly correlated and there was short-term causal relationship between economic growth and electricity consumption in Macao using the quarterly data from 1999Q1 to 2007Q4. Moreover, vector error correction models reveal that unidirectional causality ran from the seasonal component in electricity consumption to the seasonal component in economic growth using the same set of quarterly data. Our results shed light on how economic growth affects electricity consumption in such a service-oriented territory and how policy makers can foresee the environmental issues such as emission of greenhouse gases to be more pronounced.
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