Survey Relation between Finance Development and Energy Demand in Selective Countries with Dynamic Panel

اقتصاد پولی مالی

Article 5, Volume 24, Issue 14, October 2017, Pages 150-174   

Document Type: پژوهشی

DOI: 10.22067/pm.v24i13.53613

Authors

arezoo hamidi; mohamad noferesti; vida varahrami^*

shahid beheshti

Abstract

Economic Growth Depends on Energy Consumption and Due to it any Increase of Economic Growth Led to an Energy Consumption Gain. On The Other Hand Economic Growth is Under The Influence Of Development Of Financial Markets. Therefore Any Development In Financial Markets Will Increase The energy consumption. In This study we use a dynamic panel data and generalized method of moments (GMM) For Selected Oil Base Countries to Analyze a Relationship Between Financial Development and Energy Consumption. Results Indicates That Development of Financial Markets has a Positive Impact on Energy Consumption. Also Money Market has More Influence Than Capital Market On Energy Consumption.

Keywords

Energy Consumption; Financial development; Dynamic Panel Model