THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND ENERGY CONSUMPTION IN IRAN: A BAND ARDL AND TODA-YAMAMOTO TEST APPROACH

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FARAZMAND HASAN; KAMRANPUR SAEIDEH; GHORBAN NEJAD MOJTABA

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Journal: Journal of Quantitative Economics Year:2013 | Volume:10 | Issue:1 (36) Page(s): 33-58

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Title

THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND ENERGY CONSUMPTION IN IRAN: A BAND ARDL AND TODA-YAMAMOTO TEST APPROACH

Author(s)

FARAZMAND HASAN | KAMRANPUR SAEIDEH | GHORBAN NEJAD MOJTABA | Issue Writer Certificate

Keywords

ENERGY CONSUMPTIONQ2

FINANCIAL DEVELOPMENTQ2

ECONOMIC GROWTHQ2

BAND ARDL TESTQ2

TODA-YAMAMOTO TESTQ2

Abstract

This paper examines the relationship between FINANCIAL DEVELOPMENT, ECONOMIC GROWTH and ENERGY CONSUMPTION in Iran. Many papers have used various indicators for FINANCIAL DEVELOPMENT. In this study, we have tried to examine the effect of all indicators of FINANCIAL DEVELOPMENT on ENERGY CONSUMPTION using BAND ARDL, Based on Unrestricted Error Correction Model (UECM), (Pesaran, Shin and Smith, 2001) and TODA-YAMAMOTO TEST (1995) for the period of 1976-2010. The findings show that various indicators such as the ratio of allocated credits to the private sector to GDP, M2, the ratio of stocks traded to the trading volume of stocks markets and ECONOMIC GROWTH, have a long run relationship with ENERGY CONSUMPTION. Further, the findings confirm the unilateral causality from FINANCIAL DEVELOPMENT and ECONOMIC GROWTH to ENERGY CONSUMPTION.

Cites

رابطه بین توسعه مالی و مصرف انرژی: مقایسه بین کشورهای در حال توسعه و پیشرفته

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APA: Copy

FARAZMAND, HASAN, KAMRANPUR, SAEIDEH, & GHORBAN NEJAD, MOJTABA. (2013). THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND ENERGY CONSUMPTION IN IRAN: A BAND ARDL AND TODA-YAMAMOTO TEST APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 10(1 (36)), 33-58. SID. https://sid.ir/paper/110760/en

Vancouver: Copy

FARAZMAND HASAN, KAMRANPUR SAEIDEH, GHORBAN NEJAD MOJTABA. THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND ENERGY CONSUMPTION IN IRAN: A BAND ARDL AND TODA-YAMAMOTO TEST APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2013;10(1 (36)):33-58. Available from: https://sid.ir/paper/110760/en

IEEE: Copy

HASAN FARAZMAND, SAEIDEH KAMRANPUR, and MOJTABA GHORBAN NEJAD, “THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND ENERGY CONSUMPTION IN IRAN: A BAND ARDL AND TODA-YAMAMOTO TEST APPROACH,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 10, no. 1 (36), pp. 33–58, 2013, [Online]. Available: https://sid.ir/paper/110760/en

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