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The Correlation Between Energy Cost Share, Human, And Economic Development Using Time Series Data From Australasia, Europe, North America, And The Brics Nations, Ryan Roberts, Josephine Kaviti Musango, Alan Colin Brent, Matthew K. Heun
The Correlation Between Energy Cost Share, Human, And Economic Development Using Time Series Data From Australasia, Europe, North America, And The Brics Nations, Ryan Roberts, Josephine Kaviti Musango, Alan Colin Brent, Matthew K. Heun
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This paper investigates how a change in a region's energy cost share (ECS), a ratio of a region's energy expenditure as a fraction of its gross domestic product (GDP), affects the region's social and economic development. Nations from four regions of the world, namely Australasia, Europe, North America, and the BRICS nations (Brazil, Russia, India, China, and South Africa) were chosen for this study. Using time series data from the period of 1978 to 2010, the annual ECS of each country was compared to the year-on-year GDP change, as well as the components of the human development index (HDI). High …