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Transmission channels of oil and finance toward promoting growth in China: the role of industrialization

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  • Chor Foon Tang

Abstract

We trace the transmission channels of oil and finance to determine the extent of the energy-led and finance-led growth hypotheses in China from 1965 to 2016. We failed to find evidence that supports the energy-led growth and finance-led growth hypotheses. Instead, the results suggested that industrialization is the main factor that fuels economic growth. Oil consumption and financial development influence growth in China are pass-through the channels of industrialization. The key findings of this study are that energy and finance itself does not influence economic growth, while the impacts of energy and finance on economic growth being contingent upon industrialization.

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  • Chor Foon Tang, 2020. "Transmission channels of oil and finance toward promoting growth in China: the role of industrialization," Applied Economics Letters, Taylor & Francis Journals, vol. 27(7), pages 596-600, April.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:7:p:596-600
    DOI: 10.1080/13504851.2019.1644422
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    Cited by:

    1. Emmanuel Asafo-Adjei & Ebenezer Boateng & Zangina Isshaq & Anthony Adu-Asare Idun & Peterson Owusu Junior & Anokye M Adam, 2021. "Financial sector and economic growth amid external uncertainty shocks: Insights into emerging economies," PLOS ONE, Public Library of Science, vol. 16(11), pages 1-26, November.
    2. Yang, Qi-Cheng & Zheng, Mingbo & Wang, Jun-Sheng & Wang, Yun-Peng, 2022. "The shocks of armed conflicts to renewable energy finance: Empirical evidence from cross-country data," Energy Economics, Elsevier, vol. 112(C).

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