Estimating the Impact of the Financial Development on Energy Consumption: A Co-integration Analysis

Authors

  • Yasemin Dumrul

Abstract

This paper investigated the impact of financial development on energy consumption in Turkey. For this purpose, the annual data from 1961 to 2015 is examined using with Johansen Cointegration Test and Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) Test. Test results indicate the existence of long run relationship between financial development, economic growth and energy consumption in Turkey. In addition The FMOLS and DOLS test results show that financial development and economic growth have a positive effect on energy consumption in Turkey. For this reason, policy makers should also take into account the impact of financial development on energy consumption while setting energy policies and setting targets.Keywords: Financial Development, Energy Consumption, Economic Growth, Co-integration, Turkey.JEL Classifications: C32, Q43DOI: https://doi.org/10.32479/ijeep.6836

Downloads

Download data is not yet available.

Downloads

Published

2018-09-05

How to Cite

Dumrul, Y. (2018). Estimating the Impact of the Financial Development on Energy Consumption: A Co-integration Analysis. International Journal of Energy Economics and Policy, 8(5), 294–299. Retrieved from https://econjournals.com.tr/index.php/ijeep/article/view/6836

Issue

Vol. 8 No. 5 (2018)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.