Abstract

In Socio-Economic development, the role of energy is very crucial, and often its consumption indicates the level of economic development and is considered as a vital ingredient of sustainable economic growth. Electricity as a key input variable plays a supreme role in the process of industrialization (IND), Economic growth (GDP) as well as technological progress (TEC) of a country. By utilizing time-series data from 1975 up to 2017, the study attempted to examine the nexus between EC and GDP of Pakistan in the Cobb Douglas production function framework. The study results reveal that EC, labor force, capital stocks, and technology, have positively and significantly affect Pakistans GDP growth. The study concluded and recommended that economic performance cannot be improved in the absence of continuous usage of electricity. Therefore, to achieve the desired economic growth path, uninterrupted electricity consumption is pivotal.

Authors

1-Raza Muhammad khan
Teaching Asistant, Department of Economics,Hazara University, Mansehra, KP, Pakistan.
2-Sohail Farooq
Assistant Professor,Department of Economics,Hazara University, Mansehra, KP, Pakistan.
3-Muhammad Akram Gilal
Associate Professor,Department of Economics,University of Sindh, Jamshoro, Sindh, Pakistan.

Keywords

Economic Growth, Electricity Usage, Industrialization.

DOI Number

10.31703/ger.2020(V-I).03

Page Nos

24-37

Volume

V

Issue

I