Linkage of financial development with electricity-growth, nexus of India and Pakistan
Linkage of financial development with electricity-growth, nexus of India and Pakistan

Summary/Abstract: This paper tries to identify the indirect linkage between intermediary development with energygrowthnexus for India and Pakistan. In this succession the study employ system based GMM approach alongwith principal component analysis for development of intermediary index. Findings of the study demonstratethe positive and significant impact of economic growth on electricity consumption of both nations. However amiscellaneous trend for urbanization and negative trend for prices with electricity consumption has also beenfound in this study. On the other hand, the linkage between financial development through growth onelectricity consumption is positive and significant for both nations. These findings have importantimplications for the policy makers. They can use these Findings to ensure long term structural development tocontrol future power constraints, which leads them towards higher level of sustainable development.

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