Research On The Impact Of Energy Consumption On Economic Development Based On Econometric Model

Energy is a powerful driving force for the progress and development of human society.The close relationship between energy consumption and economic development has been widely concerned by scholars in various fields.Today,with the focus on high-quality economic development,exploring the impact of energy consumption on economic development has a richer meaning.In this paper,economic development is divided into three aspects:stable growth of GDP,optimization of industrial structure and narrowing of regional gap.By exploring the relationship between energy consumption and economic development in these three dimensions,this paper specifically analyzes the impact of energy consumption on economic development.Firstly,this paper makes a descriptive analysis based on the data of China’s GDP,total energy consumption and various types of energy consumption to preliminarily explore the impact of energy consumption on economic growth.Based on the panel data theory,this paper constructs a relationship model between energy consumption and economic growth,and conducts an empirical study on the data of 30 provinces,municipalities and autonomous regions in China from 2010 to 2019 to specifically analyze the impact of energy consumption on economic growth.Secondly,this paper sorts out the current situation of China’s industrial structure and qualitatively analyzes the impact of energy consumption on industrial structure.Based on the time series theory,this paper selects the data of China’s energy consumption and the output value of the three industries from 2000 to 201 9 for co-integration analysis,constructs the relationship model of energy consumption and the three industries respectively,and studies the impact of energy consumption on the industrial structure through empirical analysis.Finally,this paper divides China into three regions,the east,the central and the west,and makes a comparative analysis of the current situation of energy consumption and economic development in each region,as well as the different impacts of energy consumption in each region on economic development.Based on the panel data of each region,this paper builds the relationship model of energy consumption and economic development respectively,and analyzes the impact of energy consumption on regional economic differences through the model fitting regression results.The results show that:①From the perspective of national economic growth,among all kinds of energy consumption,natural gas consumption and primary electricity consumption contribute the most to economic growth,while coal consumption restricts economic development to a certain extent.②From the point of industrial structure,the change of coal consumption and oil consumption has a significant influence on the first and second industry,electricity consumption growth has a significant effect on the third industry.③From the perspective of regional economic disparity,the economic growth in eastern region is mainly driven by the growth of oil consumption,and is also affected by the growth of natural gas consumption and primary electricity consumption,and is restricted by the growth of coal consumption.For the time being,economic growth in the central region is still dependent on coal consumption,but the rapid development of natural gas and electric power consumption in the region has strengthened the driving role of regional economy.The overall economic growth in western region is mainly driven by natural gas consumption and primary power consumption,and the primary electricity consumption has a greater driving effect.Therefore,China can restrict the consumption of coal,oil and other traditional energy to make the factors of production flow to the industries with low energy consumption and high added value,thus forcing the adjustment of industrial structure.The eastern,central and western regions can make full use of their resource endowments,realize energy connectivity and sharing through new power systems,turn energy advantages into economic advantages,and promote high-quality economic development.