Download or read book The Dirty Energy Dilemma Via Financial Development and Economic Globalization in Pakistan written by Muhammad Tariq and published by . This book was released on 2018 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy policy has been important strand in the view of economists in achieving rapid development process of any country. Recent wave of globalization exert pressure on energy consumption via financial development and ultimately vindicates economic growth. The study has covered the period of 1976-2015 using annual data for the empirical analysis and constructed a growth equation as the main equation and the energy consumption equation as a channel equation. The empirical investigation has been undertaken by performing Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL) techniques. The result of bound tests suggested that there is long run relationship in both channels. In long run energy consumption and economic globalization has significant positive effect on economic growth whereas the financial development has no effect on the economic growth of Pakistan. Long run results of channel equation suggests that increasing price of crude oil leads to decrease in energy consumption and the increasing imports of energy products and increasing urbanization are conducive for energy consumption in Pakistan. On the basis of NARDL model, our empirical findings provide strong support for the presence of asymmetric co-integration relationship among underlying variables of study.