Investigating the Nexus between Energy Consumption and Financial Development via Considering Structural Breaks: Empirical Evidence from Argentina

Abdelati Abdelhamid, Nesrin Ozatac and Nigar Taspinar
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Abdelati Abdelhamid: Department of Banking and Finance, Eastern Mediterranean University, Famagusta P.O. Box 99628, Cyprus
Nesrin Ozatac: Department of Banking and Finance, Eastern Mediterranean University, Famagusta P.O. Box 99628, Cyprus

Sustainability, 2023, vol. 15, issue 11, 1-14

Abstract: The purpose of this study was to explore energy consumption and financial development in Argentina from 1965 to 2015. Our results show no significant structural breaks during the analysis. We have found a non-linear, inverted U-shaped relationship between financial development and energy consumption. Moreover, we have observed a bidirectional causality between energy consumption and financial development, as well as a similar relationship between energy consumption and economic growth. We have also observed a unidirectional relationship between financial development to economic growth. Our findings have significant policy implications, highlighting the importance of financial development, economic growth, and urbanization for energy consumption in Argentina.

Keywords: energy consumption; financial development; ARDL; structural breaks; Argentina (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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