The Effect of Financial Development on Energy Intensity in China

Aller, Carlos; Herrerías, M.J.; Ordóñez, Javier

doi:10.5547/01956574.39.si1.call

Cited by 18 publications

(7 citation statements)

References 34 publications

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“…Analyzing the association between financial advancements and energy intensity, Aller et al (2018) investigated the impact several measures of financial progress on energy intensity. Utilizing the panel data for twenty eight provinces of China between the years 1999 to 2004, the findings of the analysis suggested that low performance of financial sector bring enhancements in energy intensity.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Technological Innovation on Energy Intensity: Evidence From Indonesia

Saudi¹,

Sinaga²,

Roespinoedji³

et al. 2019

IJEEP

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The present study not only focuses on single measure of technological innovation but included three core dynamics of measuring technological innovations. These include research and development expenditures, High-tech exports and patents by residents. This kind of extensive examination will provide greater understanding regarding which form of technological innovation have the tendency to curtail or augment levels of energy intensity in Indonesia. The awareness derived from such broad inspection would be able to identify not only the overall contribution of technological innovations in affecting country's power intensity but highlight the specific role of each form of innovation in influencing energy intensity levels and the particular association to guide effective policy making process. The current study has adopted the refined methodology of auto-regressive distributed lags (ARDL) bound testing approach to examine the dynamic relationship among energy intensity and technology innovation with amplified understanding of the critical association to support the course of economic planning and policy making. The results of ARDL bound testing approach confirm that high technology exports, research and development expenditure and number of registered patents are strong determinants of energy inefficiency in Indonesia. Likewise, the outcomes affirm that all the three proxies of technology innovation have a constructive and negative effect on energy inefficiency in Indonesia which implies that the high technology exports, number of registered patents and R&D expenditure are the main source of reducing energy inefficiency in Indonesia in the long run and short run. Also, the results of Granger causality method confirm a bi-directional causal relationship between energy intensity and technology innovation in Indonesia.

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Section: Literature Reviewmentioning

confidence: 99%

The Impact of Technological Innovation on Energy Intensity: Evidence From Indonesia

Saudi¹,

Sinaga²,

Roespinoedji³

et al. 2019

IJEEP

View full text Add to dashboard Cite

show abstract

“…Essential productive factors involved in the existing fruitful studies include capital, labor, land, energy, etc. [12][13][14][15]. Although important findings have been made, there are few studies on energy misallocation.…”

Section: Introductionmentioning

confidence: 99%

How Does Energy Misallocation Affect Carbon Emission Efficiency in China? An Empirical Study Based on the Spatial Econometric Model

2019

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As an essential factor of production, energy is receiving increased attention. Yet, other than some fundamental policy suggestions towards China’s energy issues, there have been very few investigations into energy misallocation so far. The measurements of energy misallocation index and carbon emission efficiency were made based on the panel data from 30 provinces in China. To empirically study the impact of energy misallocation on carbon emission efficiency, a spatial econometric model was built. It is found that during the survey period, there was a certain degree of energy misallocation in all regions of China, and the differences between the regions were obvious. There is an inverted U-shaped relationship between the impact of energy misallocation and carbon emission efficiency in which intensified allocation distortion accelerates the arrival of the critical point that is not conducive to energy conservation and emission reduction. The results viewed by regions show that due to a low degree o*f misallocation, the impact of carbon emission efficiency in the east region is positive, while that of the central and west regions are mostly negative. Accordingly, it is necessary to accelerate the marketization process of the energy market and improve the ecological quality.

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“…The financing tools such as green bonds and climate bonds were introduced for funding environmentally beneficial initiatives (Tolliver et al 2020). As many academic writers have pointed out (Akomea-Frimpong et al 2021;Chang et al 2021;Pyka and Nocon 2021;Aller et al 2018;Baloch et al 2018;Bovari et al 2020;Lamperti et al 2021), however, the financial gap on green investment is still huge in amount.…”

Section: Literature Reviewmentioning

confidence: 99%

The Effect of Monetary Policy and Private Investment on Green Finance: Evidence from Hungary

Desalegn

Fekete-Farkas

Tangl

2022

JRFM

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The objective of this study was to examine the effect of monetary policy and private investment on green finance in the case of Hungary. The study used an explanatory research design and a quantitative research approach. Quarterly secondary time series data over 8 years (2013–2020) were utilized. More specifically, the study used Johnson co-integration test and vector error correction model to investigate the long and short-run relationship among variables. The study’s findings imply that monetary policy, as measured by interest rates and the broad money supply, has a mixed effect on the level of green financing. Interest rates, in particular, have a negative and significant relationship with green finance in both the long and short run. However, a broad money supply has a positive but insignificant relationship with green finance in the long run. Private investment has a positive and significant relationship with green financing in both the long and short run. The study also used inward and outward foreign direct investment, and greenhouse gas as a control variable of the study. The study finding implies that inward foreign direct investment has a positive and significant relationship with green financing in both the long and short run. On the other hand, outward foreign direct investment and the level of greenhouse gas have a negative and significant relationship with green finance in both the long and short run. The study also discovered that over time series, disturbance in domestic private investment was the most determinant factor in forecast error variance of green financing. In addition, the result of document analysis shows that the majority of Hungarian credit institutions are dealing with their corporate strategy rather than their sustainability strategy. Hence, progressive approaches are needed from the credit institution to frame their strategy under the concept of sustainable development goals. The finding of this study will contribute to the existing literature on the study area, provide suggestions on green finance and green monetary policy approaches, provide implications on key stakeholders of green financing, as well as the experience of different economies. The study advises central banks, credit institutions, and regulatory authorities to consider both neoliberal and reformist approaches of green finance and green monetary policies in aid to increase green investment.

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The Effect of Financial Development on Energy Intensity in China

Cited by 18 publications

References 34 publications

The Impact of Technological Innovation on Energy Intensity: Evidence From Indonesia

The Impact of Technological Innovation on Energy Intensity: Evidence From Indonesia

How Does Energy Misallocation Affect Carbon Emission Efficiency in China? An Empirical Study Based on the Spatial Econometric Model

The Effect of Monetary Policy and Private Investment on Green Finance: Evidence from Hungary

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