Document Type : Research Paper
Authors
Abstract
This paper examines the relationship between Financial Development, Economic Growth and Energy Consumption in the Iran. in different articles, for this review, is used various indicators. in this study, we try to investigate various indicators of financial development fully and investigate effects of them on energy consumption by using BAND ARDL, Based on unrestricted error correction model (UECM), (Pesaran, shin and Smith, 2001) and TODA-YAMAMOTO test (1995) over the period of 1976-2010. the findings show that various indicators such as the ratio of credits allocated to the private sector to GDP, M2, the ratio of stocks traded to the trading volume of stocks markets, with economic growth, had a long run relationship with energy consumption. Also, the findings are confirming of unilateral causality from financial development and economic growth to energy consumption.
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