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Financial Markets and Electricity Consumption Nexus in Russia

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  • Alexander Bass

    (Department of Financial Markets and Banks, Financial University under the Government of the Russian Federation, Moscow, Russia.)

Abstract

This paper investigates the nexus between development of financial markets and electricity consumption in case of Russia. According to the hypothesis, we assume that financial markets development gives birth to an increased level of electricity consumption. Also we incorporate economic growth and urbanization as important variables for model s specification. The hypothesis is tested on example of Russia for the period 1990-2016. The results confirm the hypothesis. We found that economic growth, urbanization and financial markets development positively affect the electricity consumption both in the long and short run.

Suggested Citation

  • Alexander Bass, 2018. "Financial Markets and Electricity Consumption Nexus in Russia," International Journal of Energy Economics and Policy, Econjournals, vol. 8(3), pages 82-86.
    • Handle: RePEc:eco:journ2:2018-03-12
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial market; electricity consumption; urbanization; economic growth;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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