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  • The dynamic links between energy consumption, economic growth, financial development and trade in China: Fresh evidence from multivariate framework analysis

    Author(s)
    Shahbaz, Muhammad
    Khan, Saleheen
    Tahir, Mohammad Iqbal
    Griffith University Author(s)
    Tahir, Mohammad I.
    Year published
    2013
    Metadata
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    Abstract
    This study investigates the relationship between energy use and economic growth by incorporating financial development, international trade and capital as important factors of production function in case of China over the period of 1971-2011. The ARDL bounds testing approach to cointegration was applied to examine long run relationship among the series while stationarity properties of the variables was tested by applying structural break test. Our empirical evidence confirmed long run relationship among the variables. The results showed that energy use, financial development, capital, exports, imports and international trade ...
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    This study investigates the relationship between energy use and economic growth by incorporating financial development, international trade and capital as important factors of production function in case of China over the period of 1971-2011. The ARDL bounds testing approach to cointegration was applied to examine long run relationship among the series while stationarity properties of the variables was tested by applying structural break test. Our empirical evidence confirmed long run relationship among the variables. The results showed that energy use, financial development, capital, exports, imports and international trade have positive impact on economic growth. The Granger causality analysis revealed that unidirectional causal relationship running from energy use to economic growth. Financial development and energy use Granger cause each other. There is bidirectional causality between international trade and energy use. The feedback relation exists between financial development and international trade. There is also bidirectional causality exists between capital and energy demand, financial development and economic growth and, international trade and economic growth. This paper makes significant contribution in energy economics and opens up new direction for policy makers to explore new and alternative sources of energy which would be helpful in meeting the rising demand of energy due to sustained rate of economic growth.
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    Journal Title
    Energy Economics
    Volume
    40
    DOI
    https://doi.org/10.1016/j.eneco.2013.06.006
    Subject
    Mechanical engineering
    Energy generation, conversion and storage (excl. chemical and electrical)
    Applied economics
    Financial econometrics
    Publication URI
    http://hdl.handle.net/10072/57426
    Collection
    • Journal articles

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