The Granger-Causality (GC) and the Error Correction Model (ECM) techniques are applied to analyzethe relationship between electricity consumption and the Chinese economy. The single factor model isselected first and the systematic analysis is made in the total quantity, in separate industries anddepartments, and in different industries with separate regions. Then the multi-factors model is adopted byintroducing the multivariable, such as, the electric power investment, non-electric power investment,electricity consumption and manpower capital to make further analysis, which obtained direction, degree,the short and the long term relation between the electric power and the economy. With power and resourcesshortages, the above conclusions supply the basis in science and theory for the regulation and constructionof power and networks, and for the industry structure adjustment to accelerate economic sustainabledevelopment of Chinese economy. |