Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2019.111000 |
Financial development and energy consumption: Is the MENA region different? | |
Gaies, Brahim1; Kaabia, Olfa2; Ayadi, Rim3; Guesmi, Khaled4,5; Abid, Ilyes6 | |
2019-12-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 135 |
文章类型 | Article |
语种 | 英语 |
国家 | France; Canada |
英文摘要 | This paper examines the relationship between financial development and energy consumption estimations in the major MENA countries (Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen) over the period 1996 to 2014. We consider the energy use in kg of oil equivalent per capita as a dependent variable that reflects the cross-country energy consumption. We measure the level of financial development in the MENA countries by considering banking indicators. Extending the model of Sadorsky (2011), we estimate both linear and non-linear dynamic panel model. We use new robust econometrics to take into account heterogeneity and nonlinearity and we control the estimation results for the period of the global financial crisis. The results of the study report a positive and statistically significant relationship between the intermediation capacity of the banking system as well as its size and energy consumption. The findings also confirm a non-linear and inverted U-shaped relationship between financial development and energy demand for the MENA region. This implies that initially energy demand increases with financial development and then, at a turning point of financial development, it declines. The policy implications of these results are discussed. |
英文关键词 | Energy consumption Financial development MENA Dynamic panel GMM |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000506465400040 |
WOS关键词 | ECONOMIC-GROWTH ; ELECTRICITY CONSUMPTION ; PANEL-DATA ; STOCK MARKETS ; NORTH-AFRICA ; MIDDLE-EAST ; OIL PRICE ; TRADE ; CAUSALITY ; INTERMEDIATION |
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/224566 |
专题 | 环境与发展全球科技态势 |
作者单位 | 1.IPAG Business Sch, IPAG Lab, Paris, France; 2.INSEEC U, INSEEC Sch Business & Econ, Paris, France; 3.Univ Lumiere Lyon 2, Univ Lyon, COACTIS, EA 4161, F-69363 Lyon, France; 4.Paris Sch Business, Environm Climate Change & Energy Transit Chair, Paris, France; 5.Univ Ottawa, Telfer Sch Management, Ottawa, ON, Canada; 6.ISC Paris Business Sch, Paris, France |
推荐引用方式 GB/T 7714 | Gaies, Brahim,Kaabia, Olfa,Ayadi, Rim,et al. Financial development and energy consumption: Is the MENA region different?[J]. ENERGY POLICY,2019,135. |
APA | Gaies, Brahim,Kaabia, Olfa,Ayadi, Rim,Guesmi, Khaled,&Abid, Ilyes.(2019).Financial development and energy consumption: Is the MENA region different?.ENERGY POLICY,135. |
MLA | Gaies, Brahim,et al."Financial development and energy consumption: Is the MENA region different?".ENERGY POLICY 135(2019). |
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