Energy Consumption and Economic Growth: Evidence from SADC Countries

Authors

  • Alexander Maune Research Associate: UNISA, Pretoria, South Africa and Lecturer: BUSE, Bindura, Zimbabwe,
  • Ephraim Matanda Great Zimbabwe University (GZU), Masvingo, Zimbabwe,
  • Ezekiel Chitombo Bindura University of Science Education (BUSE), Zimbabwe.

DOI:

https://doi.org/10.32479/ijefi.16284

Keywords:

Energy Use, Energy Consumption, Economic Growth, GDP, SADC

Abstract

This article examined the nexus between energy consumption and economic growth in selected Southern African Development Community countries for the period 1980 to 2015. The study used both simple and multiple linear regression models to examine the relationship between the variables. The statistical results of the simple linear regression model between energy use and economic growth show a correlation coefficient of 0.060. This represents a weak positive correlation between the model variables. A coefficient of determination of 0.00476 depicts that energy use explains only 0.476% of the variability in the gross domestic product of countries investigated. The multiple linear regression model results show a multiple R of 0.3684, and an R2 of 0.1358. This also depicts a weak positive correlation between the model variables. A coefficient of determination of 0.1358 means that energy use and electric power consumption accounts for only 13.58% of the values of the gross domestic product of selected Southern African Development Community countries and the balance is explained by the terms that are not specified in the model. This article is of value to policy makers in the region as well as the academia as it strives to close the gap in knowledge.

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Author Biography

Alexander Maune, Research Associate: UNISA, Pretoria, South Africa and Lecturer: BUSE, Bindura, Zimbabwe,

Alexander Maune is a prolific researcher and practitioner whose research career started at the University of South Africa (UNISA) as a Research Fellow in 2014 in the College of Economic and Management Sciences (CEMS) in the department of Business Management. Prior to joining UNISA, he was a Business Finance Analyst with Standard Chartered Bank Zimbabwe for seven years. Alexander Maune has published a book, a number of journal articles and a book chapter. He has also presented papers at international conferences. His research interests include Competitive & Business Intelligence, Corporate Governance & Ethics, Banking & Finance, Start-ups, Indigenous Knowledge Intelligence and the Talmud. Alexander Maune is an environmental activist, a youth advisor, a member of the Strategic & Competitive Intelligence Professionals (SCIPs) as well as a member of the Zion Christian Church (Z.C.C.).  Alexander Maune is currently a part-time Senior Lecturer in the Faculty of Business Administration at Solusi University, Zimbabwe. He was awarded a three year (2016-2019) Academic Associate programme in the Office of the Graduate Studies and Research at CEMS, UNISA. He was also awarded another three year (2016-2018) Research Fellowship programme with the African Union Financial and Economic Markets Analysis Unit at CEMS, UNISA. He is a reviewer in a number of Journals. Alexander Maune holds a Ph.D in Business Intelligence, MSc Banking and Financial Services, BCom (Hons) Accounting Degree and a Diploma in Management Accounting (Operational Level) (CIMA) and is currently studying BCom in Law with UNISA as well as MSc in International Trade Law and Policy with Trapca. He is also a Talmudic scholar.

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Published

2024-10-30

How to Cite

Maune, A., Matanda, E., & Chitombo , E. (2024). Energy Consumption and Economic Growth: Evidence from SADC Countries. International Journal of Economics and Financial Issues, 14(6), 403–411. https://doi.org/10.32479/ijefi.16284

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