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On the nexus of financial development, economic growth, and energy consumption in China: New perspective from a GMM panel VAR approach

Yaofu Ouyang and Peng Li

Energy Economics, 2018, vol. 71, issue C, 238-252

Abstract: 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)
Date: 2018
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DOI: 10.1016/j.eneco.2018.02.015

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