Impact of China's Stock Market Development on Energy Consumption: An Empirical Analysis

被引：33

作者：

Zhang, Yue-jun ^{[1
]}

Fan, Jing-li ^{[1
]}

Chang, Hao-ran ^{[1
]}

机构：

[1] Beijing Inst Technol, Sch Management & Econ, Beijing 100081, Peoples R China

来源：

2010 INTERNATIONAL CONFERENCE ON ENERGY, ENVIRONMENT AND DEVELOPMENT (ICEED2010) | 2011年 / 5卷

关键词：

stock market; energy consumption; energy saving; grey relational analysis; causality;

D O I：

10.1016/j.egypro.2011.03.331

中图分类号：

TE [石油、天然气工业]; TK [能源与动力工程];

学科分类号：

0807 ; 0820 ;

摘要：

To investigate the influence of China's stock market development on energy consumption, the Grey Relational Analysis and Granger causality test approaches are used. Empirical results indicate that, first, the grey relational grade appears relatively high for both stock market scale and efficiency and energy consumption during 1992-2009, with 0.84 and 0.73, respectively. Second, China's stock market scale enlargement becomes an evident driver for energy consumption increase, while the influence of stock market efficiency is insignificant. Finally, energy consumption upsurge caused by stock market scale expansion of Farming, Forestry, Animal Husbandry, Fishery and Construction industries, and stock market efficiency promotion of Electric Power, Gas and Water Production and Supply and Manufacturing industries should be paid close attention. (C) 2011 Published by Elsevier Ltd. Selection and peer-review under responsibility of RIUDS

引用

页码：1927 / 1931

页数：5

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