The role of financial systems in energy demand: A comparison of developed and developing countries

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Katircioglu S., KÖKSAL C., Katircioglu S.

Heliyon, cilt.7, sa.6, 2021 (ESCI) identifier identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 7 Sayı: 6
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1016/j.heliyon.2021.e07323
  • Dergi Adı: Heliyon
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, CAB Abstracts, Food Science & Technology Abstracts, Veterinary Science Database, Directory of Open Access Journals
  • Anahtar Kelimeler: Financial systems, Energy demand, Trade volume, FDI, ARDL, Developed countries, Developing countries
  • İstanbul Ticaret Üniversitesi Adresli: Evet

Özet

This study investigates the role of the financial system in energy demand in the cases of developed and developing countries. Time-series analyses are carried out using the annual data period from 2000 to 2015. Results indicate that the financial system and financial markets are long-term catalysts for energy consumption in both groups under consideration. Results show that domestic credits by banks positively impact energy demand in developing countries, while this is money supply impacting positively on energy demand in the case of developed nations. The results of this study reveal important policy implications.