The Study On Relationship Between China's Oil Consumption And Economic Growth

The This article will cointegration test, and the Granger causality test, on China's economic growth (in GDP represented) and between oil consumption empirical study of China's economic growth and between oil and other energy consumption, and the existence of cointegration Granger causality, and to analyze its causes, and thus the economy of the oil industry-related departments to provide appropriate policy recommendations to promote the sustainable development of our economy. Profound understanding of the correct oil consumption and the relationship between economic growth and achieve coordinated development between the two, and accurately grasp the needs of China's energy consumption trends, to develop the energy sector and other sectors of national economy, the coordinated development of effective measures in significance.Around this problem, this paper analyzes the process of China's economic development and economic growth in oil consumption trends and related factors; then introduces the commonly used econometric analysis of time series methods, including the basic concepts of time series and stationary random process, ARMA model and associated parameter estimation; Granger causality test which theory is used to analyze this and the economic development of China's oil consumption, the relationship between the main tools, including unit root test, cointegration test, error correction and the causality test steps, and discussed in detail the relevant mathematical theory; Finally, Eviews software to the sample interval of 1990-2008 China's economic growth and oil consumption status of an empirical analysis of data, first for the smooth data analysis, unit root tests show that the interval from 1990-2008, economic growth and oil consumption has a very good first-order stationarity. Causal analysis, oil consumption and economic growth is only one-way causal relationship between, there is no feedback of the links on each other. That oil consumption Granger causes economic growth, while economic growth is not Granger cause oil consumption.