C. Kongruang and J. Waewsak (Thailand)
Co-integration analysis, electricity consumption, error correction model, unit root test.
Using statistical data between 1971-2006, the time-series analysis techniques i.e. unit root test, Johansen co integration test and error correction model were employed to identify factors affecting the electricity consumption of Thailand. Results showed that all relevant variables are non-stationary, however, they are co-integrated. Thus, there exists the long-run relationship between electricity consumption and the explanatory variables i.e. real GDP, CPI and total population.
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