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Dynamics of energy consumption, financial development, trade openness and economic growth in India: an autoregressive distributed lag bounds cointegration approach

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  • Harishankar Vidyarthi
  • Santosh Kumar Tiwari

Abstract

The study examines the dynamics between energy consumption, growth, trade openness, and financial development using multivariate ARDL bounds testing approach to cointegration approach for India during 1971-2018. The findings confirm long-run equilibrium relationship among underlying variables. Estimated income elasticity indicates that 1% rise in energy consumption per capita leads to 2.9220% increase in GDP per capita. Further, study confirms improvement in energy access, financial development and trade openness may enhance economic growth for India in long run.

Suggested Citation

  • Harishankar Vidyarthi & Santosh Kumar Tiwari, 2024. "Dynamics of energy consumption, financial development, trade openness and economic growth in India: an autoregressive distributed lag bounds cointegration approach," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 20(3/4), pages 370-382.
    • Handle: RePEc:ids:ijepee:v:20:y:2024:i:3/4:p:370-382
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