Journal
FRONTIERS IN ENVIRONMENTAL SCIENCE
Volume 10, Issue -, Pages -Publisher
FRONTIERS MEDIA SA
DOI: 10.3389/fenvs.2022.937834
Keywords
financial development (FD); globalization; urbanization; foreign direct investment (FDI); energy consumption
Categories
Ask authors/readers for more resources
This research examines the dynamic endogeneity nexus among energy consumption, financial development, foreign direct investment, globalization, and urbanization. The findings suggest that financial development and urbanization are positively correlated with energy consumption, while globalization has a negative impact on energy demand. Foreign direct investment has a positive but insignificant connection with energy consumption. The study also provides policy implications for sustainable energy development.
This research aimed to determine the dynamic endogeneity nexus among energy consumption (EC), financial development (FD), foreign direct investment (FDI), globalization (GI), and urbanization (URBAN). The study used 64 countries' annual panel data on the Belt and Road Initiative (BRI) from 2009 to 2019. Moreover, it employed a two-step system GMM, robust and results, that indicates financial development and urbanization are positively correlated with energy consumption, suggesting that these two factors raise the energy demand. Contrastingly, globalization negatively impacts energy demand, implying that global connectivity is essential for BRI countries. Foreign direct investment (FDI) has a positive but insignificant connection with energy consumption. Additionally, the Granger causality test was employed to explore the causal association among the variables, and outcomes reveal a bidirectional causal connection between FD and energy consumption. The study also suggests sustainable energy policy implications, which will be helpful to policymakers and governments for ensuring a balanced, sustainable growth.JEL Code: P48; P25; Q4; F6; G00; E2
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available