The dirty energy dilemma via financial development and economic globalization in Pakistan: new evidence from asymmetric dynamic effects.

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ID: 27167
2019
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Ranked #350 of 403 articles by views in Environmental science and pollution research international

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Abstract
Energy strategy has been an essential strand in the view of economists in achieving rapid development process of any country. The recent wave of globalization exerts pressure on energy consumption via financial development which ultimately vindicates economic growth. This paper has covered a period of 1976-2016 using annual data for the empirical analysis and constructed a growth equation as the main equation and the energy consumption equation as a channel equation. The empirical study has been undertaken by performing ARDL and nonlinear autoregressive distributed lag models (NARDL). The bound test result declares a long-run association in both equations. Consequently, energy consumption and economic globalization have significantly enhanced economic growth in the long run. Whereas, financial development index has no influence on the economic growth of Pakistan. The results of channel equation suggested that due to growing the price of crude oil, the energy consumption is reduced in the long run. The increasing imports of energy products and increasing urbanization are conducive for energy consumption in Pakistan. By NARDL model, our empirical findings provide robust support for the existence of asymmetric co-integration linking among underlying variables of the study.
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tariq2019theenvironmental Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Tariq, Muhammad;Xu, Yingzhi;Muhammad, Faqeer;Alam, Khalid Mehmood;
Journal Environmental science and pollution research international
Year 2019
DOI
10.1007/s11356-019-05752-4
URL
Keywords Keywords not found

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