Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2019.110945 |
The decline in energy intensity: Does financial development matter? | |
Chen, Zhongfei; Huang, Wanjing; Zheng, Xian | |
2019-11-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 134 |
文章类型 | Article |
语种 | 英语 |
国家 | Peoples R China |
英文摘要 | Global energy intensity has decreased significantly during the past two decades. Against this background, this study alms to investigate a novel relationship between development of the financial system (financial development) and energy intensity and explore the underlying mechanisms influencing the relationship between these two indicators. Using long-term country-level data and a two-way fixed-effect model, this study reveals that financial development exerts a significant negative effect on energy intensity for non-OECD countries. However, financial development has a limited impact on energy reduction for OECD countries as a result of the mature financial systems of these developed economies. The estimated results are robust for various specifications. In addition, we reveal a U-shaped relationship between financial development and energy intensity in developing countries. Our results suggest that the influence of financial development on energy intensity reduction can be achieved through technological progress and innovation. Our findings suggest that stimulating financial development is an efficient way to reduce national energy intensity, and specific long-term policies must be established in order to balance the trade-off between financial development, economic growth, and energy intensity. |
英文关键词 | Energy intensity Financial development Two-way fixed-effects model Total factor productivity |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000498307500037 |
WOS关键词 | GREENHOUSE-GAS EMISSIONS ; ECONOMIC-GROWTH ; OECD COUNTRIES ; CONSUMPTION EVIDENCE ; INTERNATIONAL-TRADE ; STRUCTURAL-CHANGE ; CO2 EMISSIONS ; CHINA ; URBANIZATION ; PANEL |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/224532 |
专题 | 环境与发展全球科技态势 |
作者单位 | Jinan Univ, Sch Econ, 601 Huangpu West Rd, Guangzhou, Guangdong, Peoples R China |
推荐引用方式 GB/T 7714 | Chen, Zhongfei,Huang, Wanjing,Zheng, Xian. The decline in energy intensity: Does financial development matter?[J]. ENERGY POLICY,2019,134. |
APA | Chen, Zhongfei,Huang, Wanjing,&Zheng, Xian.(2019).The decline in energy intensity: Does financial development matter?.ENERGY POLICY,134. |
MLA | Chen, Zhongfei,et al."The decline in energy intensity: Does financial development matter?".ENERGY POLICY 134(2019). |
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