Marcela Gimenes Bera Oshita

Changes in the price of energy and of energy sources can lead to changes in the function of the regional distribution of real income, given the differences in the elasticity income of the demand for factors of production of the economies. To understand the relationship between the supply and demand of energy with the aggregate product can assist countries in the development of energy efficiency policies, thus maximizing the value added of the economy. The objective of this thesis is to analyze the relationships between energy and factors of production in the economic growth of Brazil, in the period 1990-2016. For this, was developed an analysis of the Cobb-Douglas aggregate form and disaggregated by sector, noting the relationship between energy, the factors of production and economic growth, as well as the effects of substitution between the production inputs. In the sequence we observed the causal relationships between energy sources and economic growth. The methodologies employed were VAR (Vector Autoregressive) and VEC (Vector Error Correction). The results allow to infer that energy presented relevance for economic growth only in the long term. When analyzing the VAR model (causality test) and VEC model for the whole economy, it was verified that the GDP does not present causal relationship with the energy in the short term and that a positive long term relationship occurs instead. It was also found that, in general, the sectors walk independently of the total energy in the short term and long term, except for the sectors of fine chemistry and public administration, which presented unidirectional causality of GDP for energy. We conclude that in the long term only the sectors of fine chemicals and trade and service had a positive relationship between GDP and energy, and the other sectors had a negative relationship in the long term.