Practical Issues on Energy-Growth Nexus Data and Variable Selection With Bayesian Analysis

Abstract Given that the energy-growth nexus (EGN) is short of a complete theoretical base, the production function used therein is typically complemented with numerous variables that characterize an economy. Researchers are often puzzled not only with the selection of variables per se, but also with the variable sources and the various data handlings which become apparent and available only after years of experience in this research field. Thus, this chapter is divided into two distinctive parts: The first part contains an overview of the available data sources for the EGN as well as a succinct selection of advice on data handlings, transformations, and interpretations that could come handy…