Furuoka, Fumitaka (2015) Financial development and energy consumption: evidence from a heterogeneous panel of Asian countries. Renewable and Sustainable Energy Reviews, 52. pp. 430-444. ISSN 1364-0321, DOI https://doi.org/10.1016/j.rser.2015.07.120.
Full text not available from this repository.Abstract
This paper examined relationships between financial development and energy consumption in Asia for the period of 1980-2012. For the purpose of the empirical analysis, it performed the heterogeneous panel causality test suggested by Dumitrescu and Hurlin [1]. The findings of the panel cointegration test indicated that there was a long run equilibrium relationship between finance and energy consumption in the region. Moreover, the heterogeneous panel causality test detected a unidirectional causality from energy consumption to financial development but not vice versa. These results indicate that an expansion of energy usage could be a driving force behind financial development in Asia. (C) 2015 Elsevier Ltd. All rights reserved.
| Item Type: | Article |
|---|---|
| Funders: | UNSPECIFIED |
| Uncontrolled Keywords: | Financial development; Energy consumption; Asia; Heterogeneous panel; Causal relationship |
| Subjects: | Q Science > Q Science (General) T Technology > T Technology (General) |
| Divisions: | Deputy Vice Chancellor (Academic & International) Office > Asia-Europe Institute |
| Depositing User: | Mrs. Siti Mawarni Salim |
| Date Deposited: | 07 Sep 2016 03:15 |
| Last Modified: | 08 Nov 2019 08:09 |
| URI: | http://eprints.um.edu.my/id/eprint/16385 |
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