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The effect of financial development on energy consumption in the case of Kazakhstan

Journal of applied economics, 2020-01, Vol.23 (1), p.75-88 [Peer Reviewed Journal]

2019 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. 2019 ;ISSN: 1514-0326 ;EISSN: 1667-6726 ;DOI: 10.1080/15140326.2019.1709690

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  • Title:
    The effect of financial development on energy consumption in the case of Kazakhstan
  • Author: Mukhtarov, Shahriyar ; Humbatova, Sugra ; Seyfullayev, Ilgar ; Kalbiyev, Yashar
  • Subjects: Energy consumption ; financial development ; Kazakhstan ; VECM
  • Is Part Of: Journal of applied economics, 2020-01, Vol.23 (1), p.75-88
  • Description: This study investigates the relationship between energy consumption, financial development, economic growth, and energy prices in Kazakhstan, utilizing VECM technique to the data spanning from 1993 to 2014. Estimation results reveal that there is a positive and statistically significant impact of financial development and economic growth on the energy consumption while, energy prices proxied by CPI has a negative effect on energy consumption in the long run for the Kazakhstani case which are in line with the expectations and with the theoretical findings. This finding also shows that a 1% increase in financial development and economic growth increases energy consumption by 0.11 and 0.39%, respectively.
  • Publisher: Routledge
  • Language: English
  • Identifier: ISSN: 1514-0326
    EISSN: 1667-6726
    DOI: 10.1080/15140326.2019.1709690
  • Source: Taylor & Francis Open Access
    Directory of Open Access Journals

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