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RELATIONSHIP BETWEEN ENERGY AND ECONOMIC GROWTH EXPERIENCE FROM SELECTED ASIAN COUNTRIES

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Title RELATIONSHIP BETWEEN ENERGY AND ECONOMIC GROWTH EXPERIENCE FROM SELECTED ASIAN COUNTRIES
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Contributor Mishra, Pabitra Kumar
 
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Description Healthy economic growth is regarded as the most basic materials of any
newlineeconomy to increase the economic production, reduce the poverty and in general
newlineenhance the quality of life. World economy has witnessed huge change in the growth
newlineperformance of countries since the onset of industrial revolution. The industrial
newlinerevolution in the developed economies of West was made possible only due to the
newlineexploitation of fossil fuels which, in turn, was made possible by capital goods
newlineinnovations that enabled this source of energy to be used efficiently. Thus the
newlinecombination of the modern technology and energy use is found to be the crucial for
newlinethe rapid development of economies. The industrialization in the West was
newlineaccompanied by an energy transition away from traditional biomass, and towards
newlinemodern fuels. The modern developed economies show that the energy consumption
newlineand economic growth go hand in hand, as these economies show high energy
newlineconsumption as compared to the other less developed economies and these
newlineeconomies consume a fairly high proportion of total energy resources of globe. In
newlineorder to spur the pace of economic growth, a number of theories have been
newlinedeveloped which enriched the growth literature in emphasizing the distinct steps
newlinerequired for raising economic growth. The physical and biological theories has been
newlinehighly relevant with the role of energy in day to day life, be it for undertaking any
newlinephysical work, or the production of food by living organisms. However, the theories in
newlineeconomic literature ascribe little role to energy in determining the economic growth of
newlineany country. The classical economists declared that land, labour and capital are the
newlinemain factors of production and they neglected the important role played by the energy
newlinein the production process as well as economic progress. Famous growth theories in
newlinethe literature such as the Harrod-Domar growth model; and the subsequent, wellknown
newlinetheory commonly referred to as the Solow-Swan growth model, among others,
newlineclaim that energy has nothing to do with
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Date 2018-10-16T06:46:12Z
2018-10-16T06:46:12Z
06/11/2015
18/09/2018
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Type Ph.D.
 
Identifier http://hdl.handle.net/10603/218674
 
Language English
 
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Rights university
 
Format —
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DVD
 
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Publisher Bathinda
Central University of Punjab
Department of Economics Studies
 
Source University