Abstract

Purpose of this study: This study aims to examine the relationship between energy consumption, gross domestic product, and population for the period of 1985-2015.

Methodology: The research questions for this study are as follows: (1) What is the association among energy consumption, GDP, population, and oil price? (2) Which suggestions can be provided on the basis of the research findings? Unit root test, co-integration test, VECM model, and Granger causality are employed to analyze the association among the aforementioned variables.

Main Findings: Firstly, the results show the existence of co-integration among the variables. By employing the Granger causality, the research findings demonstrate a unidirectional causality running from population to energy consumption, a unidirectional causality running from energy consumption to gross domestic product, and a unidirectional causality running from population to gross domestic product.

Implications: With these results, it is suggested that Vietnam should promote the growth of the population and the energy policies to generate economic growth.

Novelty: To the best of our knowledge, this study extends the scarce literature that provides empirical findings regarding this issue.

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