Financial Markets and Electricity Consumption Nexus in Saudi Arabia

Authors

  • Nabil Ahmed Mareai Senan Assistant Professor, Department of Accounting, College of Business Administration, Prince Sattam Bin Abdulaziz university, Alkharj, Saudi Arabia.
  • Haider Mahmood Assistant Professor, Department of Finance, College of Business Administration, Prince Sattam Bin Abdulaziz university, Alkharj, Saudi Arabia. http://orcid.org/0000-0002-6474-4338
  • Sehrish Liaquat Higher Education Department, Civil Secretariat, Government of Punjab, Lahore, Pakistan.

Abstract

Financial market is growing at faster speed in Saudi Arabia with a policy of economic diversification. This may require the more Electricity Consumption (EC) in turn. This paper has investigated the electricity consumption and Financial Market Development (FMD) nexus incorporating economic growth and urbanization in analyses by using a period 1970-2015 for Saudi Arabia. We have found positive effects of economic growth, urbanization and FMD on the EC in long and short run analyses. Based on results, we recommend the Saudi economy to increase the electricity production capacity through several energy resources especially renewable and clean sources to meet the demand from rising economic growth, urbanization and FMD.

Keywords: Financial Market Development; Electricity consumption; Urbanization; Economic Growth

JEL Classifications: D53; Q41; P25; O47

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Author Biographies

Nabil Ahmed Mareai Senan, Assistant Professor, Department of Accounting, College of Business Administration, Prince Sattam Bin Abdulaziz university, Alkharj, Saudi Arabia.

Assistant Professor, Department of Accounting, College of Business Administration, Prince Sattam Bin Abdulaziz  university, Alkharj, Saudi Arabia.

Haider Mahmood, Assistant Professor, Department of Finance, College of Business Administration, Prince Sattam Bin Abdulaziz university, Alkharj, Saudi Arabia.

Assistant Professor, Department of Finance, College of Business Administration, Prince Sattam Bin Abdulaziz  university, Alkharj, Saudi Arabia.

Sehrish Liaquat, Higher Education Department, Civil Secretariat, Government of Punjab, Lahore, Pakistan.

Higher Education Department, Civil Secretariat, Government of Punjab, Lahore, Pakistan.

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Published

2018-01-24

How to Cite

Senan, N. A. M., Mahmood, H., & Liaquat, S. (2018). Financial Markets and Electricity Consumption Nexus in Saudi Arabia. International Journal of Energy Economics and Policy, 8(1), 12–16. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/5830

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