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An econometric modelling of financial development-aggregate energy consumption nexus for Ghana

Yeboah Asuamah, Samuel (2017): An econometric modelling of financial development-aggregate energy consumption nexus for Ghana.

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Abstract

The study modelled the long run and short run link between financial development and aggregate energy consumption in Ghana for the period 1970 to 2011 using Autoregressive Distributed Lad Model (ARDL). The results produced significant evidence of cointegration between the variables. The results seem to suggest that financial development is a key explanatory variable in aggregate energy consumption. Financial development is recommended as a policy tool to manage energy consumption. Causality issues as well as the effect of structural breaks in modelling should be the subject of future research.

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