Chapter 9: The low profile of simultaneous equation modeling in the energy-growth nexus
Abstract
This chapter reveals the low usage of simultaneous equation modeling (SEM) in the energy-growth nexus literature with a few hints on the basic econometric tools used in this framework. Despite the high potential and theoretical justifications of the SEM, this framework remains underutilized in the energy-growth nexus field, and this fact may be attributed to the lack of sufficient theoretical underpinnings in the energy-growth nexus, which fail to safely characterize the involved variables as purely endogenous or clearly exogenous. Foremost the chapter will serve as a guide and encouragement for future usage by energy-growth nexus researchers and ...
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