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Energy consumption, economic growth, trade and financial development nexus in south asia

Hafiz Muhammad Abubakar Siddique () and Muhammad Majeed ()

MPRA Paper from University Library of Munich, Germany

Abstract: This study contributes to the literature by exploring the impact of energy consumption, trade and financial development on growth in five South Asian countries over 1980-2010. The panel co-integration approach is employed to examine the long run association and granger causality analysis for direction. The PMG estimation approach is used to address the problem of heterogeneity. Panel co-integration test expresses a long run relationship between growth, energy, trade and financial development. Our findings express that financial development, energy and trade positively affect the economic growth. In long run, bidirectional relationship exists among growth and energy, unidirectional causality is running from trade and financial development to growth.

Keywords: economic growth; energy consumption; south asia (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2015, Revised 2015
New Economics Papers: this item is included in nep-ene and nep-gro
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Published in pakistan journal of commerce and social sciences 2015, Vol. 9 (2).9(2015): pp. 658-682

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