Energy Consumption, Finance and Growth: The Role of Urbanization and Industrialization in South Africa

Authors

  • Hasan Gungor Eastern Mediterranean University, Department of Economics
  • Angela Uzoamaka Simon

Abstract

The paper investigates the relationship between energy consumption, financial development (FD), economic growth, industrialization and urbanization in the case of South Africa for the period of 1970-2014. The study employs Johansen co-integration test and vector error correction model with granger causality test as estimation techniques. The results confirm that there is a long-run equilibrium relationship between these variables in case of South Africa. More so, urbanization, FD, and industrialization are positively correlated to the energy consumption in the long run. The results obtained also shows the long run bi-directional causality between industrialization and energy utilization, FD and energy consumption and also FD and industrialization.

Keywords: Energy, Finance, Growth, Time Series

JEL Classifications: B26, C21, Q43


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Author Biography

Hasan Gungor, Eastern Mediterranean University, Department of Economics

Department of Economics, ,Associate Professor.

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Published

2017-07-18

How to Cite

Gungor, H., & Simon, A. U. (2017). Energy Consumption, Finance and Growth: The Role of Urbanization and Industrialization in South Africa. International Journal of Energy Economics and Policy, 7(3), 268–276. Retrieved from https://econjournals.com/index.php/ijeep/article/view/4814

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Articles