On the nexus of financial development, economic growth, and energy consumption in China: New perspective from a GMM panel VAR approach
Yaofu Ouyang and
Energy Economics, 2018, vol. 71, issue C, 238-252
This paper studies the endogenous relationships among financial development, energy consumption, and economic growth in China by applying a GMM panel VAR approach with a panel data of 30 Chinese provinces over the period 1996Q1–2015Q4. Financial development is measured by six individual indicators and by a comprehensive indicator obtained through the PCA method. We also account for regional heterogeneity by dividing our sample into three regions: eastern region, central region, and western region.
Keywords: Financial development; Energy consumption; GMM panel VAR; Economic growth; PCA (search for similar items in EconPapers)
JEL-codes: Q43 Q47 G20 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:71:y:2018:i:c:p:238-252
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