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Financial Development and Economic Growth: the Role of Energy Consumption
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نویسنده
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Siddique Hafiz Muhammad Abubakar ,Usman Sadaf ,Ishaq Junaid
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منبع
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Journal Of Quantitative Methods - 2018 - دوره : 2 - شماره : 2 - صفحه:43 -55
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چکیده
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The study investigates financial development and economic growth nexus, incorporating use of energy resources for pakistan for 1980- 2016, using johansen co-integration and granger causality approach. the results of johansen test for co-integration show the link between financial development, energy and economic growth in the long time span. the findings of granger causation test uncovered a two-way causality between capital and economic growth. the one-way causality exists from economic growth in energy and financial development. the findings also exposed the one-way causality from capital formation and exports to use of energy. the government should take steps to make financial sectors stronger as it has a great role in increasing the growth of an economy.
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کلیدواژه
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Financial Development ,Energy Consumption ,Johansen Co-Integration ,Pakistan
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آدرس
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Federal Urdu University, Pakistan, Punjab Group Of Colleges, Bhara Kahu Campus, Pakistan, Federal Urdu University, Pakistan
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پست الکترونیکی
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junaidishaq10@pide.edu.pk
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Authors
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