Transmission channels of oil and finance toward promoting growth in China: the role of industrialization
Chor Foon Tang
Applied Economics Letters, 2020, vol. 27, issue 7, 596-600
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.
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:27:y:2020:i:7:p:596-600
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DOI: 10.1080/13504851.2019.1644422
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