Article 2024 · 0 citations

The effect of stock market and banking sector developments on energy consumption in BRICS : Evidence from panel vector autoregressive analysis

Logun, Anil, Alpagut, Serhat, Aydin, Rahman

Abstract

Energy is an important resource in the economic development of countries. While it is used as an input in production, it also has an important usage area in consumption. For these reasons, the factors affecting energy use have been the subject of many studies. This study examines the impact of financial development (FD) on energy consumption (EC) in BRICS countries (Brazil, Russia, India, China, and South Africa). In the study, EC, FD, economic growth, foreign direct in - vestments and total trade (%GDP) variables for the period 1994-2017 were examined with the help of the PVAR (panel vector autoregressive) model. According to the findings, there is a uni - directional relationship from both EC and economic growth to the development of the banking sector.

Keywords

Financial development energy consumption banking sector panel causality panel vector autoregressive model FINANCIAL DEVELOPMENT CONTRIBUTE UNIT-ROOT TESTS ECONOMIC-GROWTH CO2 EMISSIONS ELECTRICITY CONSUMPTION NEXUS IMPACT INVESTMENT COUNTRIES NIGERIA

WoS Categories

Economics

Sustainable Development Goals

Decent Work and Economic Growth Responsible Consumption and Production Climate Action Affordable and Clean Energy Industry, Innovation and Infrastructure

Citation

Journal: EKONOMSKI PREGLED
Year: 2024
Volume: 75
Issue: 3
Pages: 221-240
ISSN: 0424-7558
eISSN: 1848-9494
DOI: 10.32910/ep.75.3.1
WoS UID: WOS:001245159400001

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