Financial Development and Energy Consumption: Evidence from Germany

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Abstract

This paper investigates the influence of several variables of financial development on electricity consumption in case of Germany. We assume that financial market development, economic growth and urbanization lead to an increase in energy consumption. The hypothesis is tested on example of Germany for the period 1990–2018. The results partly confirm the hypothesis. We found that economic growth and urbanization positively affect the energy consumption, while financial market development does not show statistical significance. Keywords: Financial Market, Energy Consumption, Urbanization, Economic GrowthJEL Classifications: D53, Q41, P25, O47DOI: https://doi.org/10.32479/ijeep.8603

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Author Biography

Valeriia Denisova, Financial Univerisity under the Government of the Russian Federation

Department of Financial Markets and Banks

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Published

2020-01-21

How to Cite

Denisova, V. (2020). Financial Development and Energy Consumption: Evidence from Germany. International Journal of Energy Economics and Policy, 10(2), 35–39. Retrieved from https://econjournals.com./index.php/ijeep/article/view/8603

Issue

Vol. 10 No. 2 (2020)

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Articles

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