Economic development and the energy intensity of human well-being: Evidence from the GCC countries

This paper empirically investigates the effect of economic development on the energy intensity of human well-being (EIWB) in the Gulf Cooperation Council (GCC) during the period (1995-2012). We employ a time-series cross-sectional Prais-Winsten regression model with panel-corrected standard errors (PCSE). We conclude that economic development has had a significant positive impact on EIWB during the period (1995-2012). The results indicate that the stress on the environment had increased in a noticeable manner from 1995 until 2006. However, over the period 2007-2012, the stress went back to the level observed in 1995. This observation is unfortunate from the perspective sustainable economics.