The research paper “The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy” by Dr. Jeyhun Mammadov, dean of the School of Economics and Management, Dr. Shahriyar Mukhtarov, vice dean of the School of Economics and Management, and Dr. Elvin Mammadov, coordinator of the Department of Economics and Management at Khazar University, was published in Energies, No 6, Vol 11, 2018. The journal is indexed by the Science Citation Index Expanded “Web of Science” (SCI Impact Factor: 2.26) and SCOPUS (Citescore 3.11) databases.

The study investigates the relationship between energy consumption, financial development, and economic growth in an oil-rich economy—Azerbaijan—employing cointegration techniques. The results confirm the existence of a long-run relationship among the variables. Also, authors find that there is a positive and statistically significant impact of financial development and economic growth on energy consumption in the long-run. In this regard, Azerbaijani policymakers and related authorities in similar economies should consider a balanced approach to economic growth, financial development, and energy-related measures policies.

The paper is available at:

http://www.mdpi.com/1996-1073/11/6/1536.