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FINANCIAL DEVELOPMENT AND ENERGY CONSUMPTION NEXUS IN 32 BELT AND ROAD ECONOMIES

descriptionPublicationkeyboard_double_arrow_right Article , Journal 01 Feb 2021Publisher:EconJournalsJournal:International Journal of Energy Economics and Policy, volume 11, pages 368-373 (eissn: 2146-4553,

Authors: Kudaybergenov Janpolat; Anastas Khachaturov; Raufhon Salahodjaev; Abdusalomova Nodira; Shoirahon Odilova;

doi: 10.32479/ijeep.10862

FINANCIAL DEVELOPMENT AND ENERGY CONSUMPTION NEXUS IN 32 BELT AND ROAD ECONOMIES

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Abstract

Current study sheds the light on the financial development-energy nexus in 32 Belt and Road economies during 2000-2015. Financial development is proxied by domestic credit to private sector. We first examine the order of integration by employing five different panel unit-root tests. Further, we confirm long-term relationship between the variables by running Pedroni and Kao panel cointegration tests. Fully Modified Ordinary Least Squares (FMOLS) regression reveal positive long-term relationship between financial development and energy use. Results of Dumitrescu-Hurlin panel causality test fail to reveal causal relationship between financial development and energy in our sample.

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	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	13
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	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%