Assessment of Lithuanian Energy Sector Influence on GDP
The relationship between the Economic growth and Energy Sector performance is unquestionable. Honewer it is not an easy task to evaluate the strength of this relationship. The majority of scientists are investigating the impact of certain Energy Sector’s activities on the overall energy consumpt...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
NGO “Economic Laboratory for Transition Research” (ELIT)
2017-12-01
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| Series: | Montenegrin Journal of Economics |
| Subjects: | |
| Online Access: | http://mnje.com/sites/mnje.com/files/043-059__macerinskiene__kremer.pdf |
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| Summary: | The relationship between the Economic growth and Energy Sector
performance is unquestionable. Honewer it is not an easy task to
evaluate the strength of this relationship. The majority of scientists
are investigating the impact of certain Energy Sector’s activities on
the overall energy consumption, climate change or Economic
growth. This article analyzes the influence of Energy Sector to GDP
of Lithuania. The objective of the research is to show how the results
of Lithuanian Energy Sector in 2005 – 2015 have been
changed and to determine their impact on GDP. The concept of
Energy Sector is presented first. Secondly, a methodology for analyzing
the performance of the Economic growth and Energy Sector is
described. Thirdly, the analysis of the activities of Energy Sector and
its influence on GDP has been analyzed. The proposed model of the
impact of the Energy Sector's activities on the growth of GDP in the
article combines six main aspects of the research: participants in
the Energy Sector; Energy balance indicators; Changes in energy
product prices; The value added created by the Energy Sector; The
main taxes paid by Energy Sector as part of the National budget
revenue; The net profitability of the Energy Sector. This model is
applicable for analyzing the aggregate performance indicators of
Energy Sector and its impact on the growth of GDP. Hypothesis of
this research - Lithuanian energy sector has a statistically significant
influence on GDP. The findings showed that GDP and Energy Sector
indicators, after a year of crisis, tended to grow. But the impact of
these indicators on GDP is weak. However, particularly high correlation
ratios between them may indirectly affect the change in GDP. |
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| ISSN: | 1800-5845 1800-6698 |