scholarly journals Does financial development influence renewable energy consumption to achieve carbon neutrality in the USA?

Energy Policy ◽  
2021 ◽  
Vol 158 ◽  
pp. 112524
Author(s):  
Amine Lahiani ◽  
Salma Mefteh-Wali ◽  
Muhammad Shahbaz ◽  
Xuan Vinh Vo
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Renewable Energy Consumption ◽  
Carbon Neutrality ◽  
The Usa

scholarly journals The Financial Development-Renewable Energy Consumption Nexus in the Case of Azerbaijan

Energies ◽  
2020 ◽  
Vol 13 (23) ◽  
pp. 6265
Author(s):  
Shahriyar Mukhtarov ◽  
Sugra Humbatova ◽  
Natig Gadim-Oglu Hajiyev ◽  
Sannur Aliyev
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Time Series Data ◽  
Policy Implications ◽  
Small Samples ◽  
Series Data ◽  
Energy Prices ◽  
Renewable Energy Consumption

This article analyzed the relationship between financial development, renewable energy consumption, economic growth, and energy prices in Azerbaijan by employing time series data for the time span of 1993–2015. The autoregressive distributed lagged (ARDL) technique was applied in empirical estimations, because it performs better than all the alternative techniques in small samples, which was the case here in this article. The results of estimation found that there is a positive and statistically significant influence of financial development and economic growth on renewable energy consumption, whereas the prices of energy proxied by CPI have an adverse impact on renewable energy consumption in Azerbaijan. Also, estimation results demonstrated that a 1% rise in financial development, proxied by domestic credit as a percentage of GDP, and economic growth increase renewable energy consumption by 0.16% and 0.60%, respectively. The different financial development impacts on renewable energy consumption and related policy implications were also introduced.

scholarly journals Renewable Energy Consumption and Local Environmental Effects for Economic Growth: The Role of Financial Development and Foreign Direct Investment

2021 ◽  
Author(s):  
Itbar khan ◽  
lei han ◽  
Hayat khan
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Environmental Quality ◽  
Low Income ◽  
Carbon Emission ◽  
Renewable Energy Consumption ◽  
Middle Income ◽  
Income Groups

Abstract The use of renewable energy improves environmental quality by reducing carbon emission and influence economics growth where carbon emission also effect economic growth of a country. The economic theory of tourism also indicates that tourism development enhance economic growth though spillovers as well contribute to climate change. The inflow of FDI and financial development enhance economic growth however its also effect environmental quality. Based on the ongoing debate, the present research trying attempts to explore the effect of CO2 emission and renewable energy consumption, FDI and financial development on economic growth in different income grouped countries to know whether these impacts are the same for the low income, middle income and high income countries on economic growth? Using panel data for high income, low income & middle income countries for the period of 1980–2018, the current study found that all variables effect economic growth significantly where FDI and carbon emission are positive while renewable energy consumption and financial development are negative for economic growth in the whole sample while its differ in the income groups. These studies have shown that these variables are not the same as the economic growth of economic growth and different income groups are not the same, but it changes. In addition, the foundation of this study has a great deal of recommendations for income Group economic decision make-up.

scholarly journals The Relationship between Financial Development and Renewable Energy Consumption in South Asian Countries

2021 ◽  
Author(s):  
Sakib Amin ◽  
Farhan Khan ◽  
Ashfaqur Rahman
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Energy Use ◽  
Green Energy ◽  
Renewable Energy Consumption ◽  
Causality Test ◽  
Cross Sectional ◽  
Long Run ◽  
Cointegration Tests

Abstract We analyse how the financial development and green energy use are linked to the countries of South Asia from 1990 to 2018. Domestic credit to the private sector and renewable energy consumption is being used in this paper as indicators of financial development and the use of renewable energy. On the indication of cross-sectional dependency among the variables of the models, we apply second generation panel unit root tests and cointegration tests to check the stationarity properties and long-run cointegration relation among the variables. We find that variables are stationary at the first difference, and long-run cointegration exists. By applying robust dynamic heterogeneous and cross-section augmented estimators, we find that increase in GDP increases renewable energy consumption by 1.56-0.50%; however reduces by 0.07-0.03% after certain thresholds. Furthermore, increase in financial development, on average, reduces the propensity of renewable energy consumption by 0.15-0.07% in the long-run. On the other hand, the Dumitrescu-Hurlin panel causality test shows a unidirectional relationship from GDP to financial development and financial development to renewable energy consumption but not vice versa. We suggest that the selected countries revisit and restructure the renewable energy policy and emphasise institutional reforms to strengthen renewable energy development in the upcoming years.

scholarly journals The Nexus Between Financial Development and Renewable Energy Consumption: A Review For Emerging Countries

2021 ◽  
Author(s):  
OGUZ SAYGIN ◽  
Ömer İskenderoğlu
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Stock Market ◽  
Financial Development ◽  
Emerging Countries ◽  
Research Field ◽  
Renewable Energy Consumption ◽  
Annual Frequency ◽  
Market Variables ◽  
The Relationship

Abstract The relationship between financial development and energy consumption is the most frequently research field in finance and economy. The main objective of carrying out this study is to answer that is there a relationship between financial development and renewable energy consumption in emerging countries? In many studies carried out in international literature, the empirical findings were pointing to the existence of this relationship. In order to examine the relationship between financial development and renewable energy consumption, a total of 20 emerging countries, benefited from annual frequency data between 1990 and 2015. The system GMM estimation was used as the method of study. As a result of the analysis performed indicates that financial development does not impact renewable energy consumption in emerging countries when financial development is measured using both banking and stock market variables. Additionally, it can be said that the financial development increases renewable energy consumption if it is measured by only stock market capitalization.

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