Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis

Does financial development increase energy consumption? The role of industrialization and urbanization in Tunisia

https://www.econstor.eu/bitstream/10419/110124/1/dp8868.pdf

Financial development, environmental quality, trade and economic growth: What causes what in MENA countries

This paper assesses the relationship among energy consumption, financial development, economic growth, industrialization and urbanization in Tunisia from 1971-2008. The autoregressive distributed lag bounds testing approach to cointegration and Granger causality tests are employed for the analysis. The result confirms the existence of long-run relationship between energy consumption, economic growth, financial development, industrialization and urbanization in Tunisia. Moreover, financial development, industrialization and urbanization are positively related to energy consumption especially in the long-run. Long-run bidirectional causal relationships are found between financial development and energy consumption, financial development and industrialization, and industrialization and energy consumption. Hence, sound and developed financial system which can attract investors, boost the stock market and improve the efficiency of economic activities should be encouraged in the country. Nevertheless, promoting industrialization and urbanization can never be left out from the process of development. On the other hand, the unidirectional causality from energy consumption to financial development implies that government should implement loose monetary policy which will stimulates investment activities and enhances economic growth and hence the energy consumption.

Does Financial Development Increase Energy Consumption? Role of Industrialization and Urbanization in Tunisia

This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are interrelated i.e. bidirectional causality. Feedback hypothesis is validated between trade openness and financial development. Neutrality hypothesis is identified between CO2 emissions and financial development. Unidirectional causality running from financial development to economic growth and from trade openness to CO2 emissions is identified. Our empirical results also verified the existence of environmental Kuznets curve. These empirical insights are of particular interest to policymakers as they help build sound economic policies to sustain economic development and to improve the environmental quality.

https://papers.ssrn.com/sol3/Delivery.cfm/dp8868.pdf?abstractid=2575048&mirid=1&type=2

Financial Development, Environmental Quality, Trade and Economic Growth: What Causes What in MENA Countries

https://isiarticles.com/bundles/Article/pre/pdf/11106.pdf

Energy consumption and economic growth in New Zealand: Results of trivariate and multivariate models

As an importer of oil and petroleum products, New Zealand’s economy is potentially vulnerable to fluctuations in the world price of crude oil. The paper aims to examine what impact the changes in the world price of oil had on New Zealand’s economic growth over the period 1989-2006. Several hypotheses concerning the impacts of oil price shocks on economic growth are empirically examined for petroleum market deregulation, i.e. post-1989 period. These issues have important policy implications that have received little attention in New Zealand. The issue of oil price shock impacts on economic growth is considered using the Vector Autoregressive methodology based on quarterly data. Three oil price measures are considered, given the various theoretical implications that oil price shocks have on economic growth. The short run impact of oil price shocks on economic growth has been considered in a multivariate framework. This allows to analyse the direct economic impact of oil price shocks, as well as the indirect linkages. The models estimated employ the linear oil price and two leading nonlinear oil price transformations to examine various short run impacts. Utilising the Wald and Likelihood Ratio tests of Granger causality, the later results indicate that linear price change, the asymmetric price increase and the net oil price variables are significant for the system as a whole, whereas the asymmetric price decrease is not. Following the causality analysis of oil price-growth nexus, the generalised impulse responses and error variance decompositions reaffirm the direct link between the net oil price shock and growth, as well as the indirect linkages.

Matthew Bartleet

Papers

Energy consumption and economic growth in New Zealand: Results of trivariate and multivariate models

Oil price shocks and economic growth: evidence for new zealand, 1989-2006*