Financial development and energy consumption: Evidence from a heterogeneous panel of Asian countries

被引：101
|
作者：
Furuoka, Fumitaka [1 ]
机构：
[1] Univ Malaya, Asia Europe Inst, Kuala Lumpur 50603, Malaysia
来源：
RENEWABLE & SUSTAINABLE ENERGY REVIEWS | 2015年 / 52卷
关键词：
Financial development; Energy consumption; Asia; Heterogeneous panel; Causal relationship; FOREIGN DIRECT-INVESTMENT; ECONOMIC-GROWTH; FRESH EVIDENCE; CO2; EMISSIONS; IMPACT; COINTEGRATION; REGRESSION; TRADE; TESTS;
D O I：
10.1016/j.rser.2015.07.120
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This paper examined relationships between financial development and energy consumption in Asia for the period of 1980-2012. For the purpose of the empirical analysis, it performed the heterogeneous panel causality test suggested by Dumitrescu and Hurlin [1]. The findings of the panel cointegration test indicated that there was a long run equilibrium relationship between finance and energy consumption in the region. Moreover, the heterogeneous panel causality test detected a unidirectional causality from energy consumption to financial development but not vice versa. These results indicate that an expansion of energy usage could be a driving force behind financial development in Asia. (C) 2015 Elsevier Ltd. All rights reserved.
引用
收藏
页码：430 / 444
页数：15
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