Impact of financial development and economic growth on energy consumption: A panel vector autoregressive analysis for the comparison of G7 and top 10 emerging market economies

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dc.authoridgozbasi, onur/0000-0002-5029-4671
dc.authoridASLAN, Alper/0000-0003-1408-0921
dc.contributor.authorAslan, Alper
dc.contributor.authorGozbasi, Onur
dc.contributor.authorAltinoz, Buket
dc.contributor.authorAltuntas, Mehmet
dc.date.accessioned2025-02-24T17:18:48Z
dc.date.available2025-02-24T17:18:48Z
dc.date.issued2021
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü
dc.description.abstractThe aim of this paper is to investigate the relationship between energy consumption, financial development, and economic growth in the case of the G7 economies and emerging market economies. To this end, the role of the banking sector, as well as data from both the stock and the bond market, are explicitly used to proxy financial development. It is used the panel VAR method for the data period from 1990 to 2015. The results illustrate that there is a positive link between the stock market development and energy consumption in both G7 and top 10 emerging market economies in the long run. Also, while banking sector development in G7 countries decreases energy consumption in the long run, increases it in emerging market economies. Another aspect of the results is the determination of the energy-enhancing effect of the bond market development in the G7 countries. Moreover, while the results once again emphasize the existence of the link between financial development and energy consumption, they differ in terms of developed and developing countries.
dc.identifier.doi10.1177/0958305X211004113
dc.identifier.endpage1330
dc.identifier.issn0958-305X
dc.identifier.issn2048-4070
dc.identifier.issue7
dc.identifier.scopus2-s2.0-85103621921
dc.identifier.scopusqualityQ1
dc.identifier.startpage1315
dc.identifier.urihttps://doi.org/10.1177/0958305X211004113
dc.identifier.urihttps://hdl.handle.net/20.500.14440/864
dc.identifier.volume32
dc.identifier.wosWOS:000636505200001
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherSage Publications Ltd
dc.relation.ispartofEnergy & Environment
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WOS_20250201
dc.subjectEnergy consumption
dc.subjectfinancial development
dc.subjectG7 economies
dc.subjectemerging economies
dc.subjectpanel data
dc.subjectcausality
dc.titleImpact of financial development and economic growth on energy consumption: A panel vector autoregressive analysis for the comparison of G7 and top 10 emerging market economies
dc.typeArticle

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