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What is the role of Financial Development and Energy Consumption on Economic Growth? New Evidence from North African Countries

International Journal of Finance & Banking Studies

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Title What is the role of Financial Development and Energy Consumption on Economic Growth? New Evidence from North African Countries
 
Creator Salman, Doaa Mohamed; Modern Sciences & Arts University (MSA)
Atya, Eyad M.
 
Subject Finance; Economics
Financial Development; Economic Growth; Energy consumption
 
Description This paper aims to test the validity of the causality between financial development and economic growth on energy consumption in three of North African countries. The study employs error coreection model and Granger causaility test to analyza a dataset for three North African countries covering a period from 1980 to 2010. The applied model is based on demand function for energy to assess the existing of causal relationship of energy with financial development, and economic growth, in Algeria, Egypt, and Tunisia.  Empirical results provide a positive significant relating financial development and energy consumption in Algeria, and Tunisia. On the other hand, Egypt’s results show a negative significant relationship relating energy consumption and financial development. The paper is valuable to policy makers in North African countries in their pursuit for achieving economic growth as it clarifies the urge for the financial development reforms to stimulate investment and growth. 
 
Publisher SSBFNET
 
Contributor —
 
Date 2014-02-07
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/282
 
Source International Journal of Finance & Banking Studies (ISSN: 2147- 4486); Vol 3, No 1 (2014): January; 137-149
2147-4486
 
Language eng
 
Relation http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/282/343