scholarly journals The Impact of Green Finance Development on China’s Energy Structure Optimization

2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Hui Wang ◽  
Lili Jiang ◽  
Hongjun Duan ◽  
Yifeng Wang ◽  
Yichen Jiang ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Local Development ◽  
Clean Energy ◽  
Green Energy ◽  
Energy Structure ◽  
Renewable Energy Consumption ◽  
Consumption Structure ◽  
Green Finance ◽  
The Impact

This paper studies the impact of the development of green finance on China’s energy consumption structure. 17 basic indexes and the improved entropy weight method are used to construct the green finance index (GFI). Multiple regression, panel regression, and spatial regression are used to study the impact of green finance on China’s traditional energy and renewable energy consumption. The results show that there is a positive spatial spillover effect in the development of green finance among provinces in China. The development of green finance contributes to the conversion of traditional to renewable energy consumption. The effect of green finance on the transformation of energy consumption structure is mainly reflected in the direct effect. The green finance in each province not only helps the local development of green energy but also plays a good role in the production and utilization of clean energy consumption in surrounding provinces. Therefore, the government should support the green finance, reduce traditional energy consumption, and increase renewable energy consumption.

scholarly journals Can Green Finance Optimize Energy Structure: A Spatial Econometric Analysis based on China's Traditional and Renewable Energy Consumption

2021 ◽  
Author(s):  
Hui Wang ◽  
Lili Jiang ◽  
Hongjun Duan ◽  
Yifeng Wang ◽  
Yichen Jiang
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Spillover Effect ◽  
Energy Structure ◽  
Renewable Energy Consumption ◽  
Spatial Spillover ◽  
Consumption Structure ◽  
Green Finance ◽  
The Impact ◽  
Spatial Spillover Effect

Abstract This paper studies the impact of the development of green finance on China’s energy consumption structure. In terms of the construction of the green finance index (GFI), this paper selects 17 basic indexes from the three aspects of economy, finance, and environment, uses the improved entropy weight method to construct the GFI, and studies the spatial spillover effect of the GFI of China's provinces. This paper further studies the impact of green finance on traditional and renewable energy consumption. We first uses panel regression to determine that the development of green finance has a positive effect on the slowdown of traditional energy consumption and acceleration of renewable energy consumption, and then further studies the spatial characteristics of green finance development on energy consumption by using spatial Durbin model. The results show that there is a positive spatial spillover effect in the development of green finance among provinces in China. The development of green finance contributes to the conversion of traditional to renewable energy consumption. The effect of green finance on the transformation of energy consumption structure is mainly reflected in the direct effect. Therefore, the government should support the green finance, reduce traditional energy consumption and increase renewable energy consumption.

scholarly journals Impact of Clean Energy on CO2 Emissions and Economic Growth within the Phases of Renewables Diffusion in Selected European Countries

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 812
Author(s):  
Mariola Piłatowska ◽  
Andrzej Geise
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Clean Energy ◽  
Annual Data ◽  
Low Carbon ◽  
Renewable Energy Consumption ◽  
Two Phases ◽  
The Impact

This study explores the impact of clean energy and non-renewable energy consumption on CO2 emissions and economic growth within two phases (formative and expansion) of renewable energy diffusion for three selected countries (France, Spain, and Sweden). The vector autoregression (VAR) model is estimated on the basis of annual data disaggregated into quarterly data. The Granger causality results reveal distinctive differences in the causality patterns across countries and two phases of renewables diffusion. Clean energy consumption contributes to a decline of emissions more clearly in the expansion phase in France and Spain. However, this effect seems to be counteracted by the increases in emissions due to economic growth and non-renewable energy consumption. Therefore, clean energy consumption has not yet led to a decoupling of economic growth from emissions in France and Spain; in contrast, the findings for Sweden evidence such a decoupling due to the neutrality between economic growth and emissions. Generally, the findings show that despite the enormous growth of renewables and active mitigation policies, CO2 emissions have not substantially decreased in selected countries or globally. Focused and coordinated policy action, not only at the EU level but also globally, is urgently needed to overhaul existing fossil-fuel economies into low-carbon economies and ultimately meet the relevant climate targets.

scholarly journals How does renewable energy consumption affect economic growth? Evidence from the European Union countries

2021 ◽  
Vol 129 ◽  
pp. 09005
Author(s):  
Natalia Davidson ◽  
Elizaveta Maksimova ◽  
Oleg Mariev
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Generalized Method Of Moments ◽  
Green Energy ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Eu Countries ◽  
The Impact

Research background: Fossil fuels are used at such a high rate that they are currently being depleted. Moreover, they are associated with a greenhouse effect leading to global warming. Meanwhile, green energy is naturally replenished and fosters sustainable development (Nelson and Starcher, 2015). However, the empirical evidence of the impact of green energy on economic growth is controversial (Adewuyi and Awodumi, 2017; Chen et al., 2020; Destek and Aslan, 2017; Zafar et al., 2018). Purpose of the article: This paper analyses the impact of renewable energy consumption on economic growth in the European Union (EU) countries. This is important in line with the goals of EU to shift towards green energy during the coming years (Directive (EU) 2018/2001). Methods: We use data of the World Bank and Our World in Data over 1990 to 2015 for 28 EU countries. We estimate the impact of renewable energy consumption on the countries’ gross domestic product. The control variables are labor force, research and development, and foreign direct investment. We apply the pooled mean group, mean group, the dynamic fixed effect estimators (Pesaran, 1997; Pesaran et al., 1999), and generalized method of moments (Arellano & Bond, 1991). Findings & Value added: Results show that the renewable energy consumption positively affects economic growth of the EU countries. We contribute by shedding light on the possibility to develop renewable energy, while achieving economic growth. The results have important implications for economic policy.

scholarly journals The Effect of Renewable and Nuclear Energy Consumption on Decoupling Economic Growth from CO2 Emissions in Spain

Energies ◽  
2020 ◽  
Vol 13 (9) ◽  
pp. 2124 ◽  
Author(s):  
Mariola Piłatowska ◽  
Andrzej Geise ◽  
Aneta Włodarczyk
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Carbon Dioxide Emissions ◽  
Nuclear Energy ◽  
Green Energy ◽  
Annual Data ◽  
Renewable Energy Consumption ◽  
The Impact

This study examines the relationship between renewable and nuclear energy consumption, carbon dioxide emissions and economic growth by using the Granger causality and non-linear impulse response function in a business cycle in Spain. We estimate the threshold vector autoregression (TVAR) model on the basis of annual data from the period 1970–2018, which are disaggregated into quarterly data to obtain robust empirical results through avoiding a sample size problem. Our analysis reveals that economic growth and CO2 emissions are positively correlated during expansions but not during recessions. Moreover, we find that rising nuclear energy consumption leads to decreased CO2 emissions during expansions, while the impact of increasing renewable energy consumption on emissions is negative but insignificant. In addition, there is a positive feedback between nuclear energy consumption and economic growth, but unidirectional positive causality running from renewable energy consumption to economic growth in upturns. Our findings do indicate that both nuclear and renewable energy consumption contribute to a reduction in emissions; however, the rise in economic activity, leading to a greater increase in emissions, offsets this positive impact of green energy. Therefore, a decoupling of economic growth from CO2 emissions is not observed. These results demand some crucial changes in legislation targeted at reducing emissions, as green energy alone is insufficient to reach this goal.

Renewable Energy Consumption and its Main Drivers in Latin American and Caribbean Countries: A Robust Analysis Between Static and Dynamic Panel Data Models

2021 ◽  
Vol 9 (1) ◽  
pp. 37-61
Author(s):  
S. Menéndez-Carbo
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Energy Demand ◽  
Clean Energy ◽  
Dynamic Panel Data ◽  
Green Energy ◽  
Renewable Energy Consumption ◽  
Per Capita ◽  
Latin American And Caribbean

This study examines the potential drivers of renewable energy consumption for 22 Latin American and Caribbean countries during 2005–2014. I use the sys-GMM method to deal with the presence of endogeneity, countryspecific components and serial correlation within observations. Results confirm the dynamic behaviour of green energy consumption. Moreover, GDP per capita and CO2 emissions per capita are the determinants of this clean energy source. The positive effect of per capita GDP implies that a non-depleting alternative source has been used to satisfy an increasing energy demand, which was experienced due to the acceleration of economic growth in the region. On the other hand, the negative effect of per capita CO2 emissions reflects the weight that fossil fuels have in the energy mix. Because of some of the analysed countries’ oil-producer nature, oil prices rise is not enough for a switch response.

scholarly journals The Relationship between Economic Growth and Pollution in Some New European Union Member States: A Dynamic Panel ARDL Approach

Energies ◽  
2021 ◽  
Vol 14 (9) ◽  
pp. 2363
Author(s):  
Mihaela Simionescu ◽  
Carmen Beatrice Păuna ◽  
Mihaela-Daniela Vornicescu Niculescu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Ghg Emissions ◽  
Kuznets Curve ◽  
Renewable Energy Consumption ◽  
Panel Ardl ◽  
Domestic Credit ◽  
The Impact ◽  
The Relationship

Considering the necessity of achieving economic development by keeping the quality of the environment, the aim of this paper is to study the impact of economic growth on GHG emissions in a sample of Central and Eastern European (CEE) countries (V4 countries, Bulgaria and Romania) in the period of 1996–2019. In the context of dynamic ARDL panel and environmental Kuznets curve (EKC), the relationship between GHG and GDP is N-shaped. A U-shaped relationship was obtained in the renewable Kuznets curve (RKC). Energy consumption, domestic credit to the private sector, and labor productivity contribute to pollution, while renewable energy consumption reduces the GHG emissions. However, more efforts are required for promoting renewable energy in the analyzed countries.

scholarly journals Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?

2020 ◽  
Vol 12 (11) ◽  
pp. 4689 ◽  
Author(s):  
Shahriyar Mukhtarov ◽  
Jeyhun I. Mikayilov ◽  
Sugra Humbatova ◽  
Vugar Muradov
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Negative Impact ◽  
Oil Prices ◽  
Oil Price ◽  
Renewable Energy Consumption ◽  
Long Run ◽  
Carbon Dioxide Co2 ◽  
The Impact

The study analyzes the impact of economic growth, carbon dioxide (CO2) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. Estimation results reveal that there is a long-run positive and statistically significant effect of economic growth on renewable energy consumption and a negative impact of oil price in the case of Azerbaijan, for the studied period. The negative impact of oil price on renewable energy consumption can be seen as an indication of comfort brought by the environment of higher oil prices, which delays the transition from conventional energy sources to renewable energy consumption for the studied country case. Also, we find that the effect of CO2 on renewable energy consumption is negative but statistically insignificant. The results of this article might be beneficial for policymakers and support the current literature for further research for oil-rich developing countries.

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