Effect of GDP on Electric Energy Consumption
A Regression
Analysis of Energy Consumption with Cross-Country Data
Abstract
This paper reviews four existent studies and performs a cross-country multivariate regression analysis in order to determine the relationship among electric energy consumption, population, land area size, and economic growth as measured by GDP using data from authoritative sources. Results from the statistical tests confirm a positive correlation between the three regressors and the dependent variable.
Introduction
Energy is as much a part of us and our daily lives as is our very DNA. We need and use energy every single day even more than we may realize and it is available in an array of different forms. This analysis will focus on energy in its electrical form, where it is derived from the flow of electric charge caused by electrical attraction or repulsion between charged particles (Helmenstine, 2017).
Since energy is such an essential part of life as we know it, it is not surprising that the topic has made headlines time and time again.
