The Effect of Electricity Consumption on Production of Manufacturing Establishments with 10 and More Workers in Iran (Dynamic Panel Data Approach)

Document Type : Research Paper

Author

Alzahra University

Abstract

 
In the process of industrial growth and development, the electrical energy is a key input demanded by manufacturing establishments. The purpose of this study is to investigate the relationship between electricity consumption and production volume of manufacturing establishments with 10 and more workers in Iran. In this regard, we apply the Dynamic Panel Data and GMM estimation method during the period 1995-2014. Hence, we use data on 15 manufacturing establishments in two-digit ISIC codes. The results show that: (1) the effects of all regressors including the number of workers, the gross fixed capital formation and electricity consumption on the production of manufacturing establishments are positive and significant; (2) the coefficient for the number of workers is greater than those of the other two variables, which indicates that the establishments under study are labor-intensive; (3) the short-run and long-run elasticities of electricity consumption are 0.17 and 0.30, respectively, indicating that a 1% increase in electricity consumption across manufacturing establishments increases the production volume in the short and long-run by 0.17% and 0.30%, respectively. 

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