The Status of Economic Growth and Oil Price in the Demand Function of Energy (with emphasis on nuclear energy)

In the current world, oil and nuclear energy as a strategic factor, play a crucial role in economic and political relations between the countries. In the meantime, according to the degree of growth and development in countries, the sensitivity to the use of nuclear energy differs among the countries. In this study, the effects of economic growth, oil prices has been evaluated on the consumption amount of nuclear energy for selected countries, during the period studied 1996-2011. To evaluate the effects of variables, the econometric technique of panel data with the approach to generalized least squares (GLS) is used. The results suggest that economic growth and oil consumption has a positive effect and oil price has negative effect on the use of nuclear energy requirements.

Keywords:

nuclear energy , oil price , economic growth , panel data