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Analysis on Power Grid Investment Base on Cointegration Theory and VAR Model

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Abstract:

Based on the statistical data of US from the year 1977 to 2006, this paper examines the long-run equilibrium relationship and short-term fluctuations among power grid investment, economy and electricity consumption by employing the recently developed VAR model and cointegration theory. The results show that the electricity consumption has a positive effect on power grid investment while GDP has a negative impact. The development of electric power grid investment can be divided into three stages. To achieve the coordinate development of electricity and economy, the electric power industrial should develop in advance and try to be a new pillar industry.

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Info:

Periodical:

Applied Mechanics and Materials (Volumes 672-674)

Pages:

1393-1399

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.672-674.1393

Citation:

Cite this paper

Online since:

October 2014

Authors:

Guo Jun Deng*, Zhao Lei Mao, Ke Sun, Hao Zhou, Tuo Ting Zhang

Keywords:

Cointegration, Error Correction, Impulse Response, Investment, Variance Decomposition

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© 2014 Trans Tech Publications Ltd. All Rights Reserved

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