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A Review of Energy Consumption and Financial Development Nexus

Author

Listed:
  • Yeboah Asuamah Samuel
  • Ohene Manu
  • T. B. Wereko

Abstract

The paper contribute to the body of knowledge in the area of energy and fiancé by reviewing empirical works to assess the link and causality between energy consumption and financial development. This paper is of paramount importance in the face of energy crisis in both developed and developing economies. These findings have been mixed or inconsistent. In some studies there is unidirectional causality while as in other studies there is bidirectional causality. This calls for further studies to contribute to the debate using multiple models in a single study.

Suggested Citation

  • Yeboah Asuamah Samuel & Ohene Manu & T. B. Wereko, 2013. "A Review of Energy Consumption and Financial Development Nexus," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 1(11), pages 456-462.
    • Handle: RePEc:rss:jnljms:v1i11p4
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    References listed on IDEAS

    as
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    2. Shahbaz, Muhammad & Lean, Hooi Hooi, 2012. "Does financial development increase energy consumption? The role of industrialization and urbanization in Tunisia," Energy Policy, Elsevier, vol. 40(C), pages 473-479.
    3. Karanfil, Fatih, 2009. "How many times again will we examine the energy-income nexus using a limited range of traditional econometric tools?," Energy Policy, Elsevier, vol. 37(4), pages 1191-1194, April.
    4. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2001. "Emerging equity markets and economic development," Journal of Development Economics, Elsevier, vol. 66(2), pages 465-504, December.
    5. Bekaert, Geert & Harvey, Campbell R. & Lumsdaine, Robin L., 2002. "Dating the integration of world equity markets," Journal of Financial Economics, Elsevier, vol. 65(2), pages 203-247, August.
    6. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2005. "Does financial liberalization spur growth?," Journal of Financial Economics, Elsevier, vol. 77(1), pages 3-55, July.
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