Major Sectors of Chinese Industry Adjustment Strategy Analysis for Reducing Energy Consumption-Based on 36 Major Industrial Sectors Energy Demands Panel Co-integration Analysis

摘要

This paper constructs the panel energy consumption model and defines the panel data for energy consumption and growth as well as energy efficiency for 36 major sectors of Chinese industry duringl9932007. Applying the panel unit root W test by IPS, we have concluded that the panel data is generated by the panel unit root process. This paper tests panel co-integration among three panel variables by Pedroni residual co-integration test and estimates the model with FMOLS proposed by Philips and Hansen. The results show that there is a panel co-integration relationship among the three panel variables which characterizes the energy consumption of the 36 major sectors of Chinese industry, and PVECM indicates a significant short-run adjustment from the panel cointegration, which implies the existence of the panel co-integration again. The conclusions and their implications in this paper can be taken as reference evidence for formulating a long-run energy strategy and short-run energy policies for China.