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An Empirical Study on the Impact of China's Energy Consumption on Economic Growth Under the Background of "Dual Carbon"

Our country is faced with a complex economic development environment at present stage, such as imbalance of global energy supply and demand. It is very important to study the energy consumption structure to our economic development. In this paper, economic growth, coal consumption, oil consumption, natural gas consumption, primary power consumption and other energy consumption during 1992-2021 are used as time series data to analyze the impact of coal consumption, oil consumption, natural gas consumption, primary power consumption and other energy consumption on China's economic growth. The empirical results show that oil consumption, primary power consumption and other energy consumption have a significant positive effect on our economic growth. Oil consumption, primary power consumption and other energy consumption can promote our economic growth, that is, every 1% increase in oil consumption, on average, GDP increases by 1.472%. When primary electricity and other energy consumption increases by every 1 percent, on average, our GDP increases by 0.419 percent. But total energy consumption, coal consumption and natural gas consumption have an insignificant effect on our economic growth. Therefore, our country actively takes measures to promote our economy to realize green economy, and then realize the "double carbon" goal as soon as possible.

Energy Consumption, Economic Growth, Time Series Data, Cointegration Analysis, Analyze Multicollinearity

APA Style

Fangjun, L., Yilin, N. (2023). An Empirical Study on the Impact of China's Energy Consumption on Economic Growth Under the Background of "Dual Carbon". Social Sciences, 12(6), 303-311. https://doi.org/10.11648/j.ss.20231206.16

ACS Style

Fangjun, L.; Yilin, N. An Empirical Study on the Impact of China's Energy Consumption on Economic Growth Under the Background of "Dual Carbon". Soc. Sci. 2023, 12(6), 303-311. doi: 10.11648/j.ss.20231206.16

AMA Style

Fangjun L, Yilin N. An Empirical Study on the Impact of China's Energy Consumption on Economic Growth Under the Background of "Dual Carbon". Soc Sci. 2023;12(6):303-311. doi: 10.11648/j.ss.20231206.16

Copyright © 2023 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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