Have a personal or library account? Click to login
How Does the Stock Market Development React to Energy Consumption? Evidence from the ARDL Panel Approach Cover

How Does the Stock Market Development React to Energy Consumption? Evidence from the ARDL Panel Approach

Open Access
|Dec 2024

References

  1. Ainur Mazina, Aigerim Lambekova, Ainur Omarova, and Natalia Ivashchenko (2024) Organizational And Economic Mechanism Of Energy Saving In Agriculture, 2024. Presented at the XII Traditional Scientific Conference New Economy, 2024, pp. 63–77. https://doi.org/10.61432/CPNE0201063m
  2. Almaiah, M.A., Al-Otaibi, S., Shishakly, R., Hassan, L., Lutfi, A., Alrawad, M., Qatawneh, M., Alghanam, O.A., 2023. Investigating the Role of Perceived Risk, Perceived Security and Perceived Trust on Smart m-Banking Application Using SEM. Sustainability 15, 9908. https://doi.org/10.3390/su15139908
  3. Alrawad, M., Lutfi, A., Almaiah, M.A., Elshaer, I.A., 2023. Examining the influence of trust and perceived risk on customers intention to use NFC mobile payment system. Journal of Open Innovation: Technology, Market, and Complexity 9, 100070. https://doi.org/10.1016/j.joitmc.2023.100070
  4. Alrawad, Mahmaod, Lutfi, A., Alyatama, S., Al Khattab, A., Alsoboa, S.S., Almaiah, M.A., Ramadan, M.H., Arafa, H.M., Ahmed, N.A., Alsyouf, A., Al-Khasawneh, A.L., 2023. Assessing customers perception of online shopping risks: A structural equation modeling–based multigroup analysis. Journal of Retailing and Consumer Services 71, 103188. https://doi.org/10.1016/j.jretconser.2022.103188
  5. Belke A, Dobnik F, Dreger C. (2011). Energy consumption and economic growth: new insights into the cointegration relationship. Energy Econ; 33(5),782–789. https://doi.org/10.1016/j.eneco.2011.02.005
  6. Bernstein R, Madlener R. (2015). Short-and long-run electricity demand elasticities at the subsectoral level: a cointegration analysis for German manufacturing industries. Energy Econ, 47(1),178–187. https://doi.org/10.1016/j.eneco.2014.12.019
  7. Chang S. C. (2015). Effects of financial developments and income on energy consumption. International Review of Economics & Finance, 35, 28-44. https://doi.org/10.1016/j.iref.2014.08.011
  8. Çoban .S, Topcu.M (2013). The nexus between financial development and energy consumption in the EU: A dynamic panel data analysis. Energy Economics, 39, 81-88. https://doi.org/10.1016/j.eneco.2013.04.001
  9. Darwez, F., Alharbi, F., Ifa, A., Bayomei, S., Mostfa, E., Lutfi, A. and Alrawad, M. (2023). Assessing the Impact of Oil Price Volatility on Food Prices in Saudi Arabia: Insights From Nonlinear Autoregressive Distributed Lags (NARDL) Analysis. ECONOMICS - Innovative and Economics Research Journal, 11(2), 5–23. https://doi.org/10.2478/eoik-2023-0056
  10. Destek .M.A,(2018). Financial development and energy consumption nexus in emerging economies. Energy Sources, Part B: Economics, Planning, and Policy, 13(1), 76-81 https://doi.org/10.1080/15567249.2017.1405106
  11. Destek M.A., (2015). Energy consumption, economic growth, financial development and trade openness in Turkey: Maki cointegration test. Bulletin of Energy Economics, 3(4), 162-168. https://ideas.repec.org/a/ijr/beejor/v3y2015i4p162-168.html
  12. Doaa M. Salmanai, Eyad M. Atyab, (2016). 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,3(1), 2147-4486. https://doi.org/10.20525/ijfbs.v3i1.175
  13. Esen .Ö, Bayrak.M, (2017). Does more energy consumption support economic growth in net energy-importing countries? . Journal of Economics, Finance and Administrative Science, 22 (42), 75-98. https://doi.org/10.1108/JEFAS-01-2017-0015
  14. Hasnaoui H. (2014). The nexus between financial development and energy consumption in the high-income OECD members: a dynamic panel data analysis. Prof Cent Bus Res. https://ssrn.com/abstract=2569614
  15. Islam F., Shahbaz, M., & Alam, M. (2013). Financial development and energy consumption nexus in Malaysia: A multivariate time series analysis. Economic Modelling, 30, 435–441. https://doi.org/10.1016/j.econmod.2012.09.033
  16. Johansen, S. (1995). Likelihood-based inference in cointegrated vector autoregressive models. Oxford, New York: Oxford University Press. https://doi.org/10.1017/S0266466698144067
  17. Kaker K., Khilji, A., Khan, J., (2011). Financial development and energy consumption: empirical evidence from Pakistan. International Journal of Trade, Economics and Finance,2, 469-471. https://www.ijtef.com/papers/150-F537.pdf
  18. Komal R., & Abbas, F. (2015). Linking financial development, economic growth and energy consumption in Pakistan. Renewable and Sustainable Energy Reviews, 44, 211-220. https://doi.org/10.1016/j.rser.2014.12.015
  19. Laradi, S., Seraa, T., Alrawad, M., Lutfi, A., Almaiah, M.A., 2024. Crafting Robust Brands for Premium Pricing: Understanding the Synergy of Brand Strength, Loyalty, and Attachment. Human Behavior and Emerging Technologies 2024, 9885145. https://doi.org/10.1155/2024/9885145
  20. Lee JW. (2013).The contribution of foreign direct investment to clean energy use, carbon emissions and economic growth. Energy Policy, 55,483–9. https://doi.org/10.1016/j.enpol.2012.12.039
  21. Levine R., Zervos, S. (1998). Capital Control Liberalization and Stock Market Development. World Development, 26, 1169-1184. https://doi.org/10.1016/S0305-750X(98)00046-1
  22. Lorena Škuflić, Maja Bašić (2024). The Influence Of Personnel Costs On The Profitability Of The Croatian Hotel Industry, 2024. . Presented at the XII Traditional Scientific Conference New Economy 2024, pp. 147–158. https://doi.org/10.61432/CPNE0201147s
  23. Lutfi, A., Alkilani, S.Z., Saad, M., Alshirah, M.H., Alshirah, A.F., Alrawad, M., Al-Khasawneh, M.A., Ibrahim, N., Abdelhalim, A., Ramadan, M.H., 2022. The Influence of Audit Committee Chair Characteristics on Financial Reporting Quality. JRFM 15, 563. https://doi.org/10.3390/jrfm15120563
  24. Mahmood .F and Saleem.M, (2016). An Empirical Analysis of the Impact of Energy Consumption on the Financial Development of the Emerging Economies: A Moderating Role of Oil Prices. International Journal of Economics and Finance, 8 (9). doi:10.5539/ijef.v8n9p26
  25. Pesaran H.M. (2003). A Simple Panel Unit Root Test in the Presence of Cross Section Dependence. Mimeo, University of Southern California. https://doi.org/10.1002/jae.951
  26. Pesaran M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. https://doi.org/10.17863/CAM.5113.
  27. Pesaran M. Hashem, Shin.Y et Ron P. (1999). Smith Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94 (446). https://doi.org/10.1080/01621459.1999.10474156
  28. Pesaran M.H. and Shin, Y. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. In: Strom, S., Ed., Chapter 11 in Econometrics and Economic Theory in the 20th Century the Ragnar Frisch Centennial Symposium, Cambridge University Press, Cambridge, 371-413. https://pure.york.ac.uk/portal/en/publications/an-autoregressive-distributed-lag-modelling-approach-to-cointegra
  29. Pesaran, H., & Smith, R. (1995). Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68(1), 79–113. https://doi.org/10.1016/0304-4076(94)01644-F
  30. Rafindadia.A.A, Ozturkb.I (2016). Effects of financial development, economic growth and trade on electricity consumption: Evidence from post-Fukushima Japan, Renewable and Sustainable Energy Reviews, 54, 1073-1084. https://doi.org/10.1016/j.rser.2015.10.023
  31. Sadorsky .P, (2010). The impact of financial development on energy consumption in emerging economies, Energy Policy, 38 (5), 2528-2535. https://doi.org/10.1016/j.enpol.2009.12.048
  32. Sadorsky .P, (2011a). Financial development and energy consumption in Central and Eastern European frontier economies., Energy Policy, 39(2), 999-1006. https://doi.org/10.1016/j.enpol.2010.11.034
  33. Sbia .R, Shahbaz .M et Ozturk.I, (2017). Economic growth, financial development, urbanisation and electricity consumption nexus in UAE, Economic Research, 30 (1), 527–549. https://doi.org/10.1080/1331677X.2017.1305792
  34. Sbia R., Shahbaz, M., & Hamdi, H. (2014). A contribution of foreign direct investment, clean energy, trade openness, carbon emissions and economic growth to energy demand in UAE. Economic Modelling, 36, 191–197. https://doi.org/10.1016/j.econmod.2013.09.047
  35. Shahbaz M., (2015). Electricity consumption, financial development and economic growth nexus in Pakistan: a visit. Bulletin of Energy Economics, 3(2), 48-65. https://ideas.repec.org/a/ijr/beejor/v3y2015i2p48-65.html
  36. Shahbaz M., & Lean, H. H. (2012). Does financial development increase energy consumption? The role of industrialization and urbanization in Tunisia. Energy Policy, 40, 373–479. https://doi.org/10.1016/j.enpol.2011.10.050
  37. Shahbaz M., Khan, S., Tahir, M.I., (2013). The dynamic links between energy consumption, economic growth, financial development and trade in China: Fresh evidence from multivariate framework analysis. Energy Econ. 40, 8-21. https://doi.org/10.1016/j.eneco.2013.06.006
  38. Stern, D.I. (2010). Energy quality. Ecological Economics, 69 (7), 1471-1478 .http://dx.doi.org/10.1016/j.ecolecon.2010.02.005
  39. Topcu .M and James E. Payne (2017).The financial development–energy consumption nexus revisited. Energy Sources, Part B: Economics, Planning, and Policy, 12 ( 201). https://doi.org/10.1080/15567249.2017.1300959
  40. Ulusoy .V, and Demiralay.S, (2017). Energy demand and stock market development in OECD countries: A panel data analysis. Renewable and Sustainable Energy Reviews, 71, 141-149. https://doi.org/10.1016/j.rser.2016.11.121
  41. Xu S. (2012). The impact of financial development on energy consumption in China: Based on SYSGMM estimation. Advanced Materials Research, 527, 2977–2981. https://doi.org/10.4028/
  42. Zhang, Y.-j., Fan, J.-l., Chang, H.-r.( 2011). Impact of China’s stock market development on energy consumption: an empirical analysis. Ener. Proc. 5, 1927-1931. https://doi.org/10.1016/j.egypro.2011.03.331
DOI: https://doi.org/10.2478/eoik-2025-0006 | Journal eISSN: 2303-5013 | Journal ISSN: 2303-5005
Language: English
Page range: 247 - 265
Submitted on: Sep 18, 2024
|
Accepted on: Jan 27, 2025
|
Published on: Dec 6, 2024
Published by: Oikos Institut d.o.o.
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year

© 2024 Faten Derouez, Farea Alharbi, Naim Mathlouthi, Adel Ifa, Nazar Ahmed, Mahmaod Alrawad, published by Oikos Institut d.o.o.
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.