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On the Stock Market-Electricity Sector Nexus in Latin America: A Dynamic Panel Data Model

Author

Listed:
  • Al Aali-Bujari

    (Universidad Aut noma de Estado de Hidalgo, Escuela Superior de Apan. M xico)

  • Francisco Venegas-Mart nez

    (Instituto Polit cnico Nacional, Escuela Superior de Econom a, M xico,)

  • Roberto J. Santill n-Salgado

    (Instituto Tecnol gico y de Estudios Superiores de Monterrey, EGADE Business School. Mexico.)

Abstract

The aim of this paper is to assess the impact of the stock market on the consumption of electric power in the major economies of Latin America during the period 1995-2014. To do this, a dynamic panel data model is estimated through the generalized method of moments. The main empirical finding is that electric power consumption is positively affected by the stock market indices of Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Costa Rica.

Suggested Citation

  • Al Aali-Bujari & Francisco Venegas-Mart nez & Roberto J. Santill n-Salgado, 2018. "On the Stock Market-Electricity Sector Nexus in Latin America: A Dynamic Panel Data Model," International Journal of Energy Economics and Policy, Econjournals, vol. 8(6), pages 148-154.
    • Handle: RePEc:eco:journ2:2018-06-18
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    Cited by:

    1. Roberto J. Santill n-Salgado & Al Aali-Bujari & Francisco Venegas-Mart nez, 2019. "Is There a Reverse Causality from Nominal Financial Variables to Energy Prices?," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 229-243.

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    More about this item

    Keywords

    s Electricity consumption; stock markets; dynamic panel data.;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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