Are Natural Resources and Apartheid Playing a Relevant Role in the Energy-Growth Nexus in South Africa?

摘要

The energy-growth nexus is studied in South Africa, by using a technique able to capture both short and long-run phenomena, the Auto Regressive Distributed Lag (ARDL). Annual time series data from 1965 to 2011 was used. It is proved that the prices of natural resources have a positive effect on economic growth. The influence of the end of apartheid on the energy-growth nexus began soon after the end of the regime (1990). The dual effect of energy on growth, positive in the short run, and negative in the long run, is proved and discussed.