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.

THE RELATIONSHIP BETWEEN CO2 EMISSIONS AND FINANCIAL DEVELOPMENT

2015 ◽  
Vol 60 (05) ◽  
pp. 1550117 ◽  
Author(s):  
JOE-MING LEE ◽  
KU-HSIEH CHEN ◽  
CHIN-HO CHO
Keyword(s):  
The Netherlands ◽  
Co2 Emissions ◽  
Financial Development ◽  
Energy Use ◽  
Oecd Countries ◽  
Cross Sectional ◽  
Eu Countries ◽  
Cross Sectional Dependence ◽  
The Relationship ◽  
The U.S

This paper examines the relationships among CO2 emissions, energy use, GDP, and financial development for 25 OECD countries over the 1971–2007 period. From the results of the panel FMOLS and the cross-sectional dependence regression, we do not find any support for the existence of the EKC for OECD countries. Moreover, the results present that the coefficient of financial development to CO2 emissions is negative and statistically significant for eight countries (Austria, Denmark, Germany, Ireland, the Netherlands, Norway, Portugal, and the U.S.). The findings of this study thus show that financial development can help EU countries to adjust their CO2 emissions.

INNOVATIVE APPROACHES TO THE USE OF ENERGY RESOURCES: POLITICAL AND LEGAL ASPECTS OF ENSURING «GREEN» ENERGY

2021 ◽  
pp. 109-117
Author(s):  
N.V. Krysanova ◽  
Keyword(s):  
Biological Diversity ◽  
Empirical Studies ◽  
Clean Energy ◽  
Legal Regulation ◽  
Legal Aspects ◽  
Green Energy ◽  
Energy Resources ◽  
Marine Animal ◽  
Business And Society ◽  
Energy Technologies

The review examines publications devoted to the problems of legal regulation of «green» energy, as well as problems related to the use of innovative technologies for obtaining clean energy. It is proposed to introduce the term «sustainability» of energy development in trade, business and society as a whole. The results of empirical studies of the use of offshore energy technologies in marine animal habitats, as well as the prevention of loss of biological diversity, are presented.

scholarly journals Life Cycle Impact of Rare Earth Elements

2014 ◽  
Vol 2014 ◽  
pp. 1-10 ◽  
Author(s):  
P. Koltun ◽  
A. Tharumarajah
Keyword(s):  
Rare Earth ◽  
Life Cycle ◽  
Rare Earth Elements ◽  
Energy Use ◽  
Economic Value ◽  
Resource Depletion ◽  
Local Environment ◽  
Clean Energy ◽  
Energy Technologies ◽  
Representative System

The diverse properties of rare earth elements have seen broad and growing applications in clean energy technologies, hybrid vehicles, pollution control, optics, refrigeration, and so on. This study presents a “cradle-to-gate” life cycle assessment of the energy use, resource depletion, and global warming potential resulting from the production of rare earth elements (REEs) using the Bayan Obo rare earth operation in Inner Mongolia, China, as a representative system. The study aggregates data from the literature, LCI databases, and reasonable estimations. A novel economic value-based allocation method for the multiple coproducts of the process is proposed. It is found that four of the high priced REEs scandium, europium, terbium, and dysprosium have very high GWPs from production relative to the rest. A mass-based allocation is also provided for comparison. Impacts on immediate local environment from waste streams that can be toxic are not included in this study.

scholarly journals Financial Development and Economic Growth: Evidence from a Heterogeneous Panel of High Income Countries

2007 ◽  
Vol 12 (1) ◽  
pp. 1-34 ◽  
Author(s):  
A.R. Kemal ◽  
Abdul Qayyum Abdul Qayyum ◽  
Muhammad Nadim Hanif
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Fixed Effects ◽  
Empirical Relationship ◽  
High Income ◽  
Causality Analysis ◽  
Panel Estimation ◽  
Panel Causality ◽  
Heterogeneous Panel ◽  
The Relationship

This paper examines the empirical relationship between financial development and economic growth for high income countries. The study focuses on both indirect finance and direct finance, separately as well as jointly. Applying the methodology of Nair-Reichert and Weinhold (2001) for causality analysis in heterogeneous panel data, two sets of results are reported. First, the evidence regarding the relationship between financial development and economic growth from a contemporaneous non-dynamic fixed effects panel estimation is mixed. Negative and statistically significant estimates of the coefficient of the inflation and financial development interaction variable indicate that financial sector development may even be harmful to economic growth when inflation is rising. Second, in contrast with the recent evidence of Beck and Levine (2003), heterogeneous panel causality analysis applied on a refined model indicates that there is no definite evidence that finance spurs economic growth or growth spurs finance. Most of our findings are in line with the Lucas (1988) view that the importance of financial matters is overstressed. The only exception is the case of activity in stock markets where our result supports the Robinson (1952) view that finance follows enterprise.

scholarly journals The impact of Islamic banking model and Islamic financial development on bank performance: evidence from dual banking economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tanveer Ahsan ◽  
Muhammad Azeem Qureshi
Keyword(s):  
Financial Development ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Bank Performance ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Content Type ◽  
Country Level ◽  
Conventional Banks ◽  
The Impact

Purpose The purpose of this study is to develop an Islamic Banking Index representing the Islamic banking model and to investigate its impact on the performance of Islamic and conventional banks. This study also analyzes the impact of Islamic financial development on bank performance. Design/methodology/approach The authors collected the data from 23 countries for the period from 2010 to 2018 and developed a composite Islamic Banking Index. The authors applied the generalized method of moments on 3,542 bank-year observations for both Islamic and conventional banks to analyze the impact of the Islamic Banking Index on bank performance. The results of the study are robust to time-fixed effects, country-level time-varying factors and endogeneity issues. Findings The authors found that Islamic Banking Index positively contributes to the return on assets (ROAit) of Islamic banks only. This impact becomes highly significant in countries with comparatively higher Islamic financial development. This finding suggests that the Islamic financial development in a country provides a supportive operating environment to Islamic banks and increases their performance. The authors also found that Islamic Banking Index positively contributes to the return on equity (ROEit) of both types of banks. Practical implications The authors argue that moving away from interest-based products and focusing more on diversified portfolios can boost the performance of both types of banks without increasing their risk levels. Originality/value To the best of the authors’ knowledge, this is the first study that develops a composite Islamic Banking Index based on differentiating factors of the Islamic banking model and investigates the impact of Islamic Banking Index and Islamic financial development on bank performance.

scholarly journals GREEN ENERGY: AN ANALYTICAL DISCOURSE

2015 ◽  
Vol 77 (4) ◽  
Author(s):  
N. Baluch ◽  
S. Mohtar ◽  
A. S. Ariffin
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Energy Use ◽  
Oil And Gas ◽  
Clean Energy ◽  
Green Energy ◽  
Energy Prices ◽  
Energy Technologies ◽  
Energy Needs ◽  
To Come

The climate change, the global warming, the population growth and the continuous demand on energy and electricity in specific made renewable energy one of the most appropriate and fitting to answer all these changes of our environment. However, the vested interested groups belonging to the fossil fuel cartel continue working tirelessly to discourage the use of renewable energy and renewable energy solutions in the world. Despite the recusant efforts of the Oil Cartel, renewable energy use has grown much faster than anyone anticipated. This paper: defines green and renewable energy; highlights its benefits; and illustrates that clean energy technologies are prepared for accelerated and widespread expansion in the global power sector. The paper critically examines the recusant efforts of the Oil Cartel undermining green renewable energy sector by bankrolling the production of unconventional oil and gas; and demonstrates that over-reliance on fossil fuels for power generation has significant health, environmental, and economic risks and is not a long-term solution to our energy needs. The paper concludes that a global transition to renewable energy is already underway. Renewable Energy offers an alternative to conventional sources and grants us greater control over future energy prices and supply. The energy choices we make during this pivotal moment will have huge consequences for our health, our climate, and our economy for decades to come.

scholarly journals Financial development and economic growth in the CEPGL region: evidence based on panel data

2021 ◽  
Vol 39 (2) ◽  
Author(s):  
Alexis Nyamugira Biringanine ◽  
Kazamwali Mzee
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Financial Development ◽  
Fixed Effects ◽  
Economic Status ◽  
Financial System ◽  
Fixed Effects Model ◽  
Correction Model ◽  
Bidirectional Relationship ◽  
The Relationship

This paper contributes to the huge debate on the relationship between financial development and the economic growth. The evidence is applied to the CEPGL (Communauté Economique des Pays des Grands Lacs) region. Previous studies have concluded either to the absence of connection between the two spheres, to a unidirectional or bidirectional relationship, or to a differentiated connection depending on the economic status of development of the country. The research design applied in this research has been inspired by the reality of the region by running an Error Correction Model for each country and a fixed effects model on panel data for the whole region. Therefore, we estimated econometric models from a series of macroeconomic data relating to the depth, and the accessibility of the financial system. The data used in this study range from 1976 to 2013. Insights from this study show that the financial system of the region is extremely underdeveloped, a weak connection between the financial and the economic sphere, in addition to an ambivalent sense of causality. 

The Relationship Between Foreign Direct Investment and Financial Development in OECD Countries

2020 ◽  
pp. 206-226
Author(s):  
Metin Gürler ◽  
Funda Kara
Keyword(s):  
Foreign Direct Investment ◽  
Financial Development ◽  
Direct Investment ◽  
Fixed Effects ◽  
Oecd Countries ◽  
Fixed Effects Model ◽  
Causality Test ◽  
Section Data ◽  
Main Determinants ◽  
The Relationship

This chapter investigates the relationship between the OECD-FRRI issued by OECD and IMF-FDI issued by IMF for 36 OECD member countries. Cross-section data (CSD) analysis and panel data (PD) analysis consisting of random and fixed effects estimations were used in the study to investigate the relationship between Foreign Direct Investment (FDI) and Financial Development for OECD countries for the years 1997, 2003, and 2006 and the 7-year period of 2010-2016. Granger Causality Test (GCT) is also applied to test the direction of causality between two indicators. According to the Random Effects Model (RAM) and Fixed Effects Model (FEM) with PD analysis in the study OECD-FRRI is found as one of the determinants of IMF-FDI and IMF-FDI is found as one of the determinants of OECD-FRRI in OECD member countries. For CSD analysis, there is no significant proof to say OECD-FRRI is one of the main determinants of IMF-FDI and IMF-FDI is one of the determinants of OECD-FRRI in OECD member countries. For CSD, OECD-FRRI does not cause IMF-FDI whereas IMF-FDI causes OECD-FRRI.

Do financial development and law enforceability effect the relationship between net working capital and firm value? Empirical evidence from Asia

2018 ◽  
Vol 33 (3) ◽  
pp. 120-132 ◽  
Author(s):  
Nufazil Altaf
Keyword(s):  
Financial Development ◽  
Firm Value ◽  
Fixed Effects ◽  
Negative Relationship ◽  
Working Capital ◽  
Content Type ◽  
Asian Context ◽  
High Degree ◽  
The Impact ◽  
The Relationship

PurposeThe purpose of this paper is to examine the relationship between net working capital and firm value for a sample of 2,483 firms across 16 Asian countries. In addition, this study also examines the impact of degree of financial development and law enforceability on net working capital-firm value relationship.Design/methodology/approachThe study is based on secondary financial data of 2,483 Asian firms obtained from Bloomberg database, pertaining to a period of five years. This study employs the fixed effects approach to arrive at results.FindingsResults of the study confirm a strong negative relationship between net working capital and firm value. In addition, the author also found that the negative relationship between net working capital and firm value to be strong for countries that have a high degree of financial development and law enforceability.Originality/valueUnlike prior studies, this study examines the relationship between net working capital and firm value. In addition, this study also tests the impact of degree of financial development and law enforceability on this relationship. To the best knowledge, no such study has been conducted in the Asian context.

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