The Impact of Energy Consumption, Financial Development on Economic Growth, Based on Nonlinear and Asymmetric Approach

Investigating causal relations, symmetry and asymmetry leads to the correct understanding of policy makers for policy and planning purposes. Many studies have been conducted on the linear relationship between variables on the international level and in Iran, but these studies mainly focus on linear relationships. Since in Iran, the non-linear and asymmetric relationship between the energy consumption variable and financial development and economic growth are not simultaneously taken. The main purpose of this study is to investigate the nonlinear and asymmetric relations Analyze between energy consumption variables and financial development on Iran's economic growth during the period 1960-2016 using Hatami-J's intermittent and causal distribution autoregressive model. The results indicate that the decline in energy consumption in Iran and in the long run increases economic growth, while in the short term it has a negative effect on growth, and one-sided causality has a negative impact on energy growth. On the other hand, the effect of financial development on economic growth has been negative, and only in the short run, with a decrease in the level of financial indicators, one can achieve a positive effect on economic growth and one-sided causality from the positive side of financial development There is economic growth. The positive and negative shocks of capital in the long and short t have a positive and significant effect on economic growth; increasing labor force in long and short run increase production and decrease labor force.