Survey Relation between Finance Development and Energy Demand in Selective Countries with Dynamic Panel

Economic Growth Depends on Energy Consumption and Due to it any Increase of Economic Growth Led to an Energy Consumption Gain. On The Other Hand Economic Growth is Under The Influence Of Development Of Financial Markets. Therefore Any Development In Financial Markets Will Increase The energy consumption. In This study we use a dynamic panel data and generalized method of moments (GMM) For Selected Oil Base Countries to Analyze a Relationship Between Financial Development and Energy Consumption. Results Indicates That Development of Financial Markets has a Positive Impact on Energy Consumption. Also Money Market has More Influence Than Capital Market On Energy Consumption.