Financial Markets and Electricity Consumption Nexus in Russia

Alexander Bass
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Alexander Bass: Department of Financial Markets and Banks, Financial University under the Government of the Russian Federation, Moscow, Russia.

International Journal of Energy Economics and Policy, 2018, vol. 8, issue 3, 82-86

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.

Keywords: Financial market; electricity consumption; urbanization; economic growth (search for similar items in EconPapers)
JEL-codes: D53 O47 P25 Q41 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2018-03-12

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