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Erschienen in:
Core Inflation Dynamics and Impact of Demand and Supply Shocks: Evidence from India Kapitel lesen Erstes Kapitel lesen

2018 | OriginalPaper | Buchkapitel

8. Examining the Linkages Between Financial Development and Energy Consumption in India

verfasst von : Seema Saini, Yadawananda Neog

Erschienen in: Current Issues in the Economy and Finance of India

Verlag: Springer International Publishing

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Abstract

This paper examines the long-run equilibrium and the existence of the causal relationship between financial development, energy consumption, economic growth and FDI in India for the period 1978–2014. The Johansen-Juselius maximum likelihood procedure in the multivariate framework and Granger causality in the vector error correction framework (VECM) is employed to examine the co-integration and causal association between the considered variables. The results of Johansen-Juselius co-integration test shows that there is long-run equilibrium relationship among variables. We also find that there is no long-run causality between the variables, but there exists bi-directional short-run causality between financial development and energy consumption in India. Based on these results, suitable growth policies are also discussed for India.

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Vorheriges Kapitel A Statistical Re-assessment of Capital Adequacy and Insolvency Risk in Commercial Banks of India
Nächstes Kapitel Leverage Effect and Volatility Asymmetry
Fußnoten
1
Vector Auto-Regression. See Sims (1972, 1980).
 
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Metadaten
Titel
Examining the Linkages Between Financial Development and Energy Consumption in India
verfasst von
Seema Saini
Yadawananda Neog
Copyright-Jahr
2018
Buch
Current Issues in the Economy and Finance of India

Print ISBN: 978-3-319-99554-0

Electronic ISBN: 978-3-319-99555-7

Copyright-Jahr: 2018

DOI
https://doi.org/10.1007/978-3-319-99555-7_8