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The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries

Year 2014, Volume: 4 Issue: 1, 83 - 91, 01.03.2014

Feyyaz Zeren Mustafa Koc

Abstract

In this study, the relationship between energy consumption and financial development is investigated via Hatemi-J asymmetric causality test (2012) which is able to separate positive and negative shocks in analysis. In order to determine different dimensions of financial system, deposit money bank assets to GDP (dbagdp), financial system deposits to GDP (fdgdp) and private credit to GDP (pcrdbgdp) were used as three different indicators. As a result of this study on Newly Industrialized 7 Countries spanning the period 1971 till 2010, both positive and negative shocks existed for Malaysia and Mexico, causality from energy consumption to financial developments emerged for Philippines in only negative shocks. While two-way causality occurred for India, Turkey and Thailand, there was not for South Africa.

Keywords

energy consumption financial development newly industrialized countries asymmetric causality

Year 2014, Volume: 4 Issue: 1, 83 - 91, 01.03.2014

Feyyaz Zeren Mustafa Koc

Abstract

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Details

Other ID JA97SE56ZS
Journal Section Research Article
Authors

Feyyaz Zeren This is me

Mustafa Koc This is me

Publication Date March 1, 2014
Published in Issue Year 2014 Volume: 4 Issue: 1

Cite

APA Zeren, F., & Koc, M. (2014). The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries. International Journal of Energy Economics and Policy, 4(1), 83-91.
AMA Zeren F, Koc M. The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries. IJEEP. March 2014;4(1):83-91.
Chicago Zeren, Feyyaz, and Mustafa Koc. “The Nexus Between Energy Consumption and Financial Development With Asymmetric Causality Test: New Evidence from Newly Industrialized Countries”. International Journal of Energy Economics and Policy 4, no. 1 (March 2014): 83-91.
EndNote Zeren F, Koc M (March 1, 2014) The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries. International Journal of Energy Economics and Policy 4 1 83–91.
IEEE F. Zeren and M. Koc, “The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries”, IJEEP, vol. 4, no. 1, pp. 83–91, 2014.
ISNAD Zeren, Feyyaz - Koc, Mustafa. “The Nexus Between Energy Consumption and Financial Development With Asymmetric Causality Test: New Evidence from Newly Industrialized Countries”. International Journal of Energy Economics and Policy 4/1 (March 2014), 83-91.
JAMA Zeren F, Koc M. The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries. IJEEP. 2014;4:83–91.
MLA Zeren, Feyyaz and Mustafa Koc. “The Nexus Between Energy Consumption and Financial Development With Asymmetric Causality Test: New Evidence from Newly Industrialized Countries”. International Journal of Energy Economics and Policy, vol. 4, no. 1, 2014, pp. 83-91.
Vancouver Zeren F, Koc M. The Nexus between Energy Consumption and Financial Development with Asymmetric Causality Test: New Evidence from Newly Industrialized Countries. IJEEP. 2014;4(1):83-91.