期刊
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
卷 25, 期 24, 页码 24326-24337出版社
SPRINGER HEIDELBERG
DOI: 10.1007/s11356-018-2488-y
关键词
Energy demand; Financial development; Globalization; ARDL; China
资金
- National Natural Science Foundation of China [NSFC-71672009.71372016]
The rapid mode of globalization is experienced in the last few years. The acceleration in globalization expands economic activities through a share of knowledge and transfer of technology which influence energy demand. So, the objective of this empirical work is to explore the impact of financial development on energy demand incorporating globalization. The empirical finding is based on autoregressive distributed lag (ARDL) bound testing approach from 1980 to 2016 in case of China. Overall, we infer that financial development increases energy demand in China. Furthermore, the finding shows that globalization has a negative and significant impact on energy demand. The additional determinants, such as economic growth, and urbanization stimulate energy consumption. Besides, energy consumption granger cause financial development in the long-run path. Similarly, unidirectional causality is detected between globalization and energy consumption. The result gives direction to policymakers to preserve as well as to enhance efficient energy consumption and sustain economic growth in China with acceleration in globalization.
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