The relationship between energy consumption and value added of Industry (A Case Study: Selected Countries of OIC)

The evaluation of energy consumption behavior in different sectors is a major and important step for planning energy. The industry has been among the most discussed sector of economics and so forth. Most economists consider the industry as the engine of economic growth. In thispaper effects of energy consumption in industry Sector (In the form of a mix of energy from fossil fuels such as coal, petroleum and natural gas), capital formation in the industrial sector, export of industrial (In the form of high-tech exports) and employed workforce in the industrial sector havebeen studied on the value added of industry for 8 countries of members of the Organization of Islamic Conference (With an emphasis on Iran) during the years 2011-1998. To estimate the effects of variables, Technique of panel cointegration with the Dynamic Ordinary Least Squares method (DOLS) is used. The estimations results suggest that all studied variables, have significant positive effect on the value added iindustry Sector.

کلیدواژه ها:

Energy consumption ، industry ، Panel cointegration techniques