The impact on chinese economic growth and energy consumption of the Global Financial Crisis: An input–output analysis

Yuan, Chaoqing; Liu, Sifeng; Xie, Naiming

doi:10.1016/j.energy.2009.12.035

Cited by 112 publications

(47 citation statements)

References 13 publications

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“…By contrast, some studies have shown indirect impacts of financial development on energy consumption during the global financial crisis. For China, Yuan et al (2010) showed that the decline in exports due to the crisis led to a 7.33% decrease in GDP and a 9.21% decrease in energy consumption. Zhao et al (2016) confirmed these results for China by considering electricity consumption, which decreased by 14.31% in 2008.…”

Section: Financial Development and Energy Consumption In Other Countriesmentioning

confidence: 99%

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

et al. 2017

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This paper investigates the asymmetric relationship between energy consumption and economic growth by incorporating financial development, capital and labour into a production function covering the Indian economy from 1960Q 1 -2015Q 4 . The nonlinear autoregressive distributed lag bounds testing approach is applied to examine the asymmetric cointegration between the variables. An asymmetric causality test is also employed to examine the causal association between the considered variables. The results indicate cointegration between the variables in the presence of asymmetries. The asymmetric causality results show that only negative shocks in energy consumption have impacts on economic growth. In the same vein, only negative shocks in financial development have impacts on economic growth. By contrast, symmetrically, capital formation causes economic growth. Finally, over the study period, a neutral effect exists between the labour force and economic growth in India. The implications of these results for growth policies in India are also discussed.Keywords: Financial Development, Energy, Growth, India, Asymmetries JEL classification: O13 Acknowledgements: We would like to thank the editor, Professor Richard Tol (University of Sussex, Brighton, UK), as well as the three anonymous reviewers, for their valuable comments and suggestions that helped us improve our paper significantly. We also thank the participants at the 7 th International Research Meeting in Business and Management (IPAG, Nice, France, 11-12 July 2016). We are also grateful to Jawad Kazmi for his technical assistance. The authors' are responsible for any remaining errors or shortcomings. IntroductionThis study uses quarterly data to investigate the relationship between energy consumption and economic growth in India over the 1960-2015 period. Financial development (measured by domestic credit to the private sector), 1 capital formation and labour force 2 are also included in the Cobb-Douglas production function. This study's main contribution to the existing literature on the energy-growth nexus concerns its examination of the potential asymmetric relationship between the variables. Taking this asymmetry into account is important because a positive or negative variation on one variable does not have the same impact on the other variable. The existence of an asymmetric relationship between two variables can be caused by numerous factors, one of which concerns the complexity of economic systems and the mechanisms that generate the variables under study. This complexity may induce various channels through which one variable affects another. In our case, the relationship between energy consumption and economic growth has been found to be very complex because previous studies have shown four possible impact channels: the growth, conservative, feedback and neutrality hypotheses. 3 On the one hand, the relationship between energy consumption and financial development can also be very complex because numerous impact channels can exist between them...

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Section: Financial Development and Energy Consumption In Other Countriesmentioning

confidence: 99%

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

et al. 2017

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“…The GFC hit various sectors of China including energy, exports and overall GDP. During this crisis, the Chinese exports fell down, consumption of energy also decreased and the GDP growth went down to 7.33% (Yuan et al, 2010). The GFC damaged China's economy more than the Asian Financial Crisis; the short-term capital flows decreased significantly and FPI flows to China decreased by 39% in 2008.…”

Section: China and India During The Last Two Decadesmentioning

confidence: 99%

Do External and Internal Crises Affect Foreign Portfolio Inflows? The Case of China and India

Ahmad¹,

Draz²,

Yang³

2016

IJEF

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This study examines the relationship between external and internal crisis (EIC) and Foreign Portfolio Investment (FPI) net inflows in China and India. We have applied Binary Choice Model taking the EIC as a dummy variable. GDP growth is an independent variable in our model that indicates the combined performance of economic sectors. The results suggest that EIC exert a significant impact on the FPI net inflows, but the nature of internal issues is different for both countries. We find a little association between GDP growth and net FPI inflows.

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“…IO models have been modified for the explicit analysis of the energy sector (e.g. see [187][188][189]), whereas intrinsic features regarding economic activity, energy use and environment effects have led to extensions of IO models that combine both environment and energy modelling (e.g. see [190][191][192][193][194][195]) and to analyze energy-economy-environment (e3) interactions (e.g.…”

Section: Input-output Multi-objective Models To Assess Economic-energmentioning

confidence: 99%

The challenging paradigm of interrelated energy systems towards a more sustainable future

Soares

Martins

Carvalho³

et al. 2018

Renewable and Sustainable Energy Reviews

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This paper brings together several contemporary topics in energy systems aiming to provide a literature review based reflection on how several interrelated energy systems can contribute together to a more sustainable world. Some directions are discussed, such as the improvement of the energy efficiency and environmental performance of the systems, the development of new technologies, the increase of the use of renewable energy sources, the promotion of holistic and multidisciplinary studies, and the implementation of new management rules and "eco-friendly and sustainable" oriented policies at different scales. The interrelations of the diverse energy systems are also discussed in order to address their main social-economic-environmental impacts. The subjects covered include the assessment of the electricity market and its main players (demand, supply, distribution), the evaluation of some urban systems (buildings, transportation, commuting), the analysis of the implementation of renewable energy cooperatives, the discussion of the diffusion of the electric vehicle and the importance of new bioenergy systems. This paper also presents relevant research carried out in the framework of both the Energy for Sustainability Initiative of the University of Coimbra and the Sustainable Energy Systems focus area of the MIT-Portugal Program. To conclude, several research topics that should be addressed in the near future are proposed.

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The impact on chinese economic growth and energy consumption of the Global Financial Crisis: An input–output analysis

Cited by 112 publications

References 13 publications

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

Do External and Internal Crises Affect Foreign Portfolio Inflows? The Case of China and India

The challenging paradigm of interrelated energy systems towards a more sustainable future

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