scholarly journals Strengthening climate prevention through economic globalization, clean energy, and financial development in N11 countries: evidence from advance panel estimations

2022 ◽  
pp. 1-23
Author(s):  
Yan Long Wang ◽  
Chang Zhao ◽  
Xiao Yu Guan ◽  
Tanzeela Yaqoob
Keyword(s):  
Financial Development ◽  
Clean Energy ◽  
Economic Globalization

scholarly journals The Impact of Financial Development On The Clean Energy Transition In MENA Region: The Role of Institutional And Political Factors.

2021 ◽  
Author(s):  
Haifa Saadaoui
Keyword(s):  
Renewable Energy ◽  
Financial Development ◽  
Energy Transition ◽  
Transition Process ◽  
Clean Energy ◽  
Mena Region ◽  
Political Factors ◽  
Long Run ◽  
The Impact

Abstract This study focuses on the role of institutional factors as well as financial development in renewable energy transition in Middle East and North Africa (MENA) region over the period 1990-2018 using the ARDL PMG method. The investigation of long-run and short-run analysis confirms that institutional and political factors play a key role in promoting the transition to renewable energy, and shows that improving these factors can lead to decarbonization of the energy sector in the long run. Another important finding is that global financial development does not have a significant effect on the transition process in the long run, implying that the whole financial system needs a fundamental structural change to accelerate the substitution between polluting and clean energies. However, in the short term, the impact appears to be negative and significant, highlighting the inadequacy of financial institutions and financial markets in promoting the region’s sustainable path. Moreover, income drives the transition to renewable energy in both short and long term. The causality results show that both financial development and institutional quality lead to renewable energy transition, while there is a bidirectional link between income and renewable energy.This study can provide a very useful recommendation to promote a clean transition in the MENA region.

scholarly journals ISLAMIC FINANCIAL DEVELOPMENT IMPACT ON ENERGY INTENSITY: EVIDENCE FROM ISLAMIC BANKS

2021 ◽  
Vol 7 (4) ◽  
Author(s):  
Abdul-Jalil Ibrahim ◽  
Nasim S. Shirazi ◽  
Amin Mohseni-Cheraghlou
Keyword(s):  
Financial Development ◽  
Fixed Effects ◽  
Energy Use ◽  
Energy Intensity ◽  
Empirical Studies ◽  
Clean Energy ◽  
Islamic Banks ◽  
Energy Technologies ◽  
Banking Development ◽  
The Relationship

The relationship between financial development and energy intensity is yet firmly established as the literature is emerging, and the few empirical studies that have been done provide conflicting results. Whereas some conclude a U-shaped relationship between financial development and energy intensity, others show a linear relationship between the two variables.  This study investigates the relationship between financial development and energy intensity by focusing on the role of Islamic financial development. The study covers 30 countries where Islamic banks are present.  Using the  fixed-effects panel model, the empirical results suggest that Islamic banking development significantly increases energy intensity in the sample countries. We also identify other important factors that increase energy intensity.  These include carbon emissions, renewable energy use and energy imports. The findings point to the importance of designing policies to incentivize Islamic banks and Shari'ah-compliant investors to finance clean energy technologies as a potent tool for reducing energy intensity, achieving sustainable development, and greening Islamic finance.

scholarly journals Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3763
Author(s):  
Pablo Ponce ◽  
José Álvarez-García ◽  
Johanna Medina ◽  
María de la Cruz del Río-Rama
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Clean Energy ◽  
Sustainable Growth ◽  
Policy Implications ◽  
Renewable Energy Consumption

The consumption of renewable energy has become a substitute for fossil fuels to mitigate environmental degradation. However, this substitution of energy raises many questions regarding its possible impact on economic growth. In this context, this research aims to examine the long-term relationship between economic growth and financial development, non-renewable energy, renewable energy, and human capital in 16 Latin American countries. Panel data techniques during the period 1988–2018 and statistical information compiled by the World Bank and Penn Word Table databases were used. Second-generation econometric techniques (cross-sectionally augmented Dickey–Fuller (CADF) and cross-sectionally augmented IPS (CIPS) were used in the work methodology, which allow the presence of cross-sectional dependence between sections to be controlled. The main results indicate that there is a long-term equilibrium relationship between financial development, non-renewable energy consumption, renewable energy consumption, human capital, and economic growth. The results show that the consumption of renewable energy does not compromise economic growth; the 1% increase in renewable energy consumption is related to the 1% increase in economic growth. The policy implications suggest some measures to ensure economic growth considering the role of green energy and human capital.

Financial development and natural resources nexus in Egypt: the role of clean energy sources and foreign direct investment

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dalia M. Ibrahiem ◽  
Rasha Sameh
Keyword(s):  
Foreign Direct Investment ◽  
Natural Resources ◽  
Financial Development ◽  
Direct Investment ◽  
Clean Energy ◽  
Policy Implications ◽  
Energy Sources ◽  
Content Type ◽  
The Impact ◽  
Quantity Of Education

Purpose Achieving the goals of the sustainable development strategy and Egypt’s vision 2030 depends mainly on the existence of sources of funds. And since Egypt faces a great challenge in obtaining finance, then analyzing the drivers of financial development is a vital issue and there is a persistent need to shed light on the key obstacles for it. Thus, this paper aims to empirically assess the impact of natural resources, foreign direct investment (FDI) net inflows, education and clean energy sources on financial development in Egypt using the data of the 1971–2014 period. Design/methodology/approach The paper uses auto-regressive distributed lag and Toda-Yamomoto approaches to fulfill the purpose. Findings Empirical results signify that all variables except natural endowments stimulate financial development which can suggest the presence of the natural resources curse in Egypt. Moreover, the feedback effect between financial development and FDI is recognized. Clean energy sources cause financial development and natural endowments. Financial development causes natural endowments and FDI leads to the deployment of more clean energy resources. Practical implications Several crucial policy implications are suggested based upon these results as improving the quality and quantity of education and encouraging both domestic and foreign investors by providing several incentives. Moreover, the government has to enhance green finance through financing solar energy projects and other environmentally friendly projects. Originality/value It is the first research for Egypt that explores natural resource-financial development nexus using time series analysis according to our information, and two important variables are included in the model which is clean energy sources and FDI. Then, although several studies examined the impact of financial development on clean energy no empirical study before assessed the impact of clean energy on financial development.

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