financial development and energy consumption evidence from a heterogeneous panel of asian countries abstract 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

the effects of stock market growth and renewable energy use on co2 emissions evidence from g20 countries the primary objective of this study is to empirically examine the effect of stock market growth and foreign direct investment fdi inflows on co2 emissions further this study investigates the impact of renewable energy consumption on co2 emissions and economic output in a panel of the g20 countries the empirical analysis was carried out on the full sample as well as on sub samples of developed and developing economies of the g20 member countries the results confirm a significant long run equilibrium relationship among the variables across the panels further the long run elasticities suggest that fdi significantly reduces co2 emissions in the full sample and developing economies while stock market growth reduces in developed economies similarly the renewable energy consumption substantially reduces co2 emissions and increases economic output across the panels our findings have important policy implications for instance the policy makers have to initiate effective policies to promote the renewable energy sources to meet the increasing demand for energy by replacing the use of conventional energy such as coal gas and oil this will therefore help to reduce the co2 emissions and also ensure sustainable economic development in the g20 nations

the nexus between financial development and energy consumption in the eu a dynamic panel data analysis abstract the relationship between financial development and energy consumption has newly started to be discussed in energy economics literature this paper investigates this issue in the eu over the period 1990 2011 by using system gmm model no significant relationship is found in the eu27 the empirical results however provide strong evidence of the impact of the financial development on energy consumption in the old members greater financial development leads to an increase in energy consumption regardless of whether financial development stems from banking sector or stock market by contrast we find for the new members that the impact of financial development on energy consumption depends on how financial development is measured using bankindex the impact of financial development displays an inverted u shaped pattern while no significant relationship is detected once it is measured using stockindex

convergence across the swedish counties 1911 1993 abstract this paper finds strong and robust evidence of convergence in per capita income across the twenty four swedish counties 1911 1993 in contrast to most previous studies on regional convergence this study adjusts incomes to account for regional differences in the cost of living the main conclusion is that using adjusted incomes as opposed to non adjusted incomes does not qualitatively change the results on convergence for the swedish counties however a quantitative difference is that estimated speeds of convergence are higher and the standard deviation of the log of per capita income is lower when adjusted incomes are used which is consistent with cross country evidence

decoupling between human development and energy consumption within footprint accounts abstract historically the growth of energy consumption has fuelled human development but this approach is no longer socially and environmentally sustainable recent analyses suggest that some individual countries have responded to this issue successfully by decoupling total primary energy supply from human development increase however globalisation and international trade have allowed high income countries to outsource industrial production to lower income countries thereby increasingly relying on foreign energy use to satisfy their own consumption of goods and services accounting for the import of embodied energy in goods and services this study proposes an alternative estimation of the decoupling index based on the total primary energy footprint rather than total primary energy supply an analysis of 126 countries over the years 2000 2014 demonstrates that previous studies based on energy supply highly overestimated decoupling footprint based results on the other hand show an overall decrease of the decoupling index for most countries 93 out of 126 there is a reduction of the number of both absolutely decoupled countries from 40 to 27 and relatively decoupled countries from 29 to 17 and an increase of coupled countries from 55 to 80 furthermore the study shows that decoupling is not a phenomenon characterising only high income countries due to improvements in energy efficiency but is also occurring in countries with low human development index and low energy consumption finally six exemplary countries have been identified which were able to maintain a continuous decoupling trend from these exemplary countries lessons have been identified in order to boost the necessary global decoupling of energy consumption and achieved welfare

exploring the depth of energy penetration in economic advancement perspective of bangladesh abstract developing countries consume a tiny share of world commercial energy this tempts policymakers in developing countries to sort out ways to increase commercial energy demand so that their invaluable resources are best utilized country like bangladesh may fall in trap if quickly declining and immensely valuable energy is wasted in unsustainable growth this urges for better use of its scarce resources for sustainable growth in this paper we aim to identify how energy consumption in bangladesh is related to various growth indicators like national income financial development industrialization and urbanization in the long run in search of a right path for sustainable development in this study we try to assess the relationship among energy consumption financial development economic growth industrialization and urbanization from 1980 to 2010 a number of cointegration techniques are employed to examine whether there is a long run relationship besides these we also employed augmented granger causality test to examine the causality if presents this study finds that financial development economic growth industrialization and urbanization have positive impact on energy consumption in short run but industrialization has no impact in the long run our causality test ensures that the above mentioned variables granger cause energy consumption for sustainable growth industrialization should be given priority as future consumption of energy in industrial sector will be greater than any other sector this future demand can only be fulfilled by injecting more and more renewable energy through solar wind and other technology as nonrenewable energy are declining quickly

underlying causal factors of the european union energy intensity econometric evidence abstract the aim of the research is to determine the main factors that define the level of energy intensity in the countries of the european union the research was conducted by estimation of six baseline and six auxiliary regressions with and without time lags in form of one way fixed and random effects error component models on different unbalanced panel data samples covering the period 1995 2015 the obtained baseline regressions results generate three sets of findings the first set consists of extremely robust findings relating to the positive influence of gross fixed capital formation and industrial gross value added and negative effects of real per capita gross domestic product and oil products retail price these variables are statistically significant in all 36 baseline empirical models the second set of results consists of quite robust findings relating to insignificant influence of foreign direct investment and negative influence of coal price according to the results it cannot be confirm the hypothesis of energy saving technology transfer via foreign direct investments in european union member states the third set of results shows that the research has failed to generate any robust findings for economic openness import ratio urbanization and natural gas price which means that the effect of these determinants on energy intensity in european union member states is unspecified finally auxiliary regressions estimation results show that changes in the sectorial composition within the european union member states economies have not enhanced energy saving technological transfer via foreign direct investments

financial development and energy consumption is the mena region different abstract 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

convergence and divergence in latin america 1970 1998 this paper examines the process of convergence in latin america over the period 1970 1998 there has been relatively little work on income convergence among developing countries in general and in latin america in particular even though many studies have examined convergence both within and among developed countries there is little support for the convergence hypothesis over the sample period as a whole although the beta coefficient is positive it is insignificant convergence is strong in the 1970s but by the 1990s it has disappeared there is no evidence of a narrowing in the cross country dispersion of income sigma convergence for the sample period as a whole the results offer little support for the neo classical growth model poorer countries have not grown faster than richer ones there is a strong case for strengthening regional development policy

impact of financial development on trade embodied carbon dioxide emissions evidence from 30 provinces in china abstract the literature on financial development and carbon dioxide co2 emissions is extensive however previous studies have not found the impact of financial development on trade embodied co2 emissions therefore we build a dynamic panel model based on the extension of the stirpat model to verify the overall and indirect impact of financial development we calculate trade embodied co2 emissions of 30 provinces in china in 2000 2014 using the single region input output model srio by eliminating the impact of imported intermediate products on co2 emissions embodied in exports exc in order to measure financial development in china more comprehensively we use financial scale development financial efficiency and financialization to define it results show that the environmental kuznets curve is confirmed at the level of china s provinces in most provinces exc began to increase in 2006 and decline in 2010 but co2 embodied in net exports ec began to decrease in 2005 and increase in 2010 the results of overall impact indicate that different financial development indicators have different effects on ec but they all reduce exc the results of indirect impact through imitation innovation ic and independent research and development rd find that financial scale development increases exc however financial efficiency and financialization decreases exc financial scale development and financial efficiency can decrease ec but financialization increases ec the results of indirect impact through fdi show that financial scale development and financial efficiency can decrease exc and ec financialization decreases exc but the impact of financialization on ec has obvious threshold characteristics when the level of financialization is lower than the threshold value financialization will reduce ec there is regional heterogeneity in the impact of financial development on trade embodied co2 emissions the conclusions of this paper are of great reference value for improving the level of financial development so as to realize the development of china s green trade

does the local government structure affect population and income growth an empirical analysis of the 1952 municipal reform in sweden hanes n and wikstrom m does the local government structure affect population and income growth an empirical analysis of the 1952 municipal reform in sweden regional studies the main purpose of the paper is to analyse if the swedish municipal reform in 1952 affected subsequent income growth and population movements the empirical analysis is conducted using data for the period 1953 to 1959 the main result is that the municipal amalgamations had no effect on the municipal income growth patterns however a positive effect on population growth is found for the municipalities that were small in size prior to the reform it is also found that the composition of the municipalities formed affected subsequent growth hanes n et wikstrom m la structure de l administration locale influence t elle la croissance de la population et des revenus une analyse empirique de la reforme municipale suedoise de 1952 regional studies cet article cherche principalement a analyser si oui ou non la reforme municipale

converging to a common pattern of energy use in developing and industrialized countries abstract the evolution of the energy intensity paths in the period 1971 to 1992 shows developing and industrialized countries converging to a common pattern of energy use this trend becomes evident when using the gross domestic product of each country expressed in purchasing power parity in constant us dollars developing countries have been reluctant to make commitments under the kyoto protocol as they oppose any measure to reduce greenhouse gas emissions that might constrain their economic development however the use of the energy intensity indicator can be an alternative measure preserving the economic development while reducing greenhouse gas emissions for the fulfillment of the kyoto protocol goals

does fdi influence renewable energy consumption an analysis of sectoral fdi impact on renewable and non renewable industrial energy consumption this study examines the link between foreign direct investment fdi and energy demand fdi is a source of financing that allows businesses to grow at the same time fdi can be a source of innovation that promotes energy efficiency existing evidence on the impact of aggregate fdi inflows on energy consumption is scarce and inconclusive in the current study we disaggregate fdi inflows into mining manufacturing total services and financial services components and examine the impact of these fdi flows on renewable and non renewable industrial energy sources for 74 countries for the period 1985 2012 we employ a blundell bond dynamic panel estimator to control for endogeneity and omitted variable biases in our panels the results point broadly to an energy consumption reducing effect with respect to non renewable sources of energy and an energy consumption augmenting effects with respect to renewable energy we find that these effects vary in magnitude and significance by sectoral fdi

financial development and energy consumption in central and eastern european frontier economies this study examines the impact of financial development on energy consumption in a sample of 9 central and eastern european frontier economies several different measures of financial development are examined including bank related variables and stock market variables the empirical results obtained from dynamic panel demand models show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to gdp financial system deposits to gdp or liquid liabilities to gdp of the three stock market variables investigated only one stock market turnover has a positive and statistically significant impact on energy consumption both short run and long run elasticities are presented the implications of these results for energy policy are discussed

how does financial development affect energy consumption evidence from 21 transitional countries abstract financial development significantly impacts energy consumption this paper uses cross country panel data from 21 transitional countries for the period 2006 2015 while considering different financial development indicators and nonlinear relationships between financial development and energy consumption this is done by selecting five financial development indicators to measure financial development and testing linear and nonlinear relationships between financial development and energy consumption it found the following first there are no significant linear relationships between financial development and energy consumption financial development does have significant nonlinear impacts on energy consumption in transitional countries with estimated nonlinear parameters that are significant second financial development affects energy consumption in transitional countries in differing ways financial intermediation development positively affected energy consumption in all the countries studied stock markets development led decreased energy consumption in china and poland financial openness development reduced energy use except in georgia and the kygyz republic

can foreign direct investment harness energy consumption in china a time series investigation abstract this study assesses the long run relationship and short run dynamics between foreign direct investment fdi and energy consumption in china applying the bounds testing approach to annual data from 1982 to 2012 we find that a stable fdi energy nexus exists in the long run and a 1 increase in fdi reduces energy consumption by 0 21 however this study shows a positive association between fdi and energy consumption in the short run attributing to the dominance of the scale effect our results remain robust to different measurements and estimators it is suggested that the chinese government shall support the inward fdi in the tertiary and energy sectors and strengthen local absorptive capacities to fully internalize fdi related knowledge spillovers in energy conservation

co2 emissions and financial development in an emerging economy an augmented var approach abstract this paper explores the influence of economic and financial development on carbon emissions in a small emerging economy the study employs ardl approach to investigate the long run relationship between carbon emissions and a set of economic and financial variables an error correction model ecm to capture the short run dynamics granger causality in an augmented var framework to check the causality direction and variance decomposition based on an estimated vector error correction model vecm to determine the relative contributions of economic and financial variables to the evolution of per capita carbon emissions the periods considered were the full sample 1971 2011 and a reduced sample sub period 1988 2011 that corresponded to greater liberalization and financial sector development the financial variables played a role in emission mitigation only in the latter period where greater degree of liberalization and financial sector development occurred even then the relative magnitude of emissions mitigation attributable to financial variables was much smaller compared to the emissions raising impact of rising per capita incomes this underscores the need for adopting other mitigation policies for reducing carbon footprints in those emerging economies where a sufficient degree of financial deepening and financial sector development has not yet taken place

energy consumption as a condition for per capita carbon dioxide emission growth the results of a qualitative comparative analysis in the european union abstract the problematic of climatic changes and the respective consequences raises the need to discuss the problem and define measures to control and or reverse them because one of the causes of climatic changes is the emission of greenhouse gases the european union defined the reduction of emissions as a main concern as well as increasing efficiency in the energy sector with the objective of analysing the main conditions affecting the growth of per capita emissions this paper uses a fuzzy set qualitative comparative analysis fsqca based on a sample of data from 2010 to 2014 the conditions evaluated were i gdp growth ii change in the share of gdp relating to private consumption iii change in the share of gdp relating to public consumption iv change in the share of gdp on investment v and energy consumption growth the main drivers contributing to reduced emissions were the crisis and energy consumption evaluation of the main factors affecting emissions growth is the main contribution of this study considering that economic growth is an obvious goal the european union must design measures encouraging investment in more efficient and less pollutant technologies which is also in accordance with oecd sustainability goals

investigation of the environmental kuznets curve for carbon emissions in malaysia do foreign direct investment and trade matter abstract environmental degradation has become a central issue of discussion among the economists and environmentalists in view of malaysia s position as one of the main contributors to co2 emissions in asia and its status as a fast growing economy it is vital therefore to conduct a study to identify the relationship between economic growth and co2 emissions for malaysia this study attempts to examine empirically the environmental kuznets curve hypothesis for malaysia in the presence of foreign direct investment and trade openness both in the short and long run for the period 1970 to 2008 the bounds testing approach and granger causality methodology are applied to test the interrelationships of the variables the results of our study indicate that the inverted u shaped relationship does exist between economic growth and co2 emission in both the short and long run for malaysia after controlling for two additional explanatory variables namely fdi and trade importantly the results of the study also provide some crucial policy recommendations to the policy makers

stochastic convergence amongst mexican states carrion i silvestre j l and german soto v 2007 stochastic convergence amongst mexican states regional studies 41 531 541 the paper investigates the convergence process experienced by the mexican states in the period 1940 2001 the analysis indicates that misleading conclusions can be obtained if the presence of structural breaks is not taken into account when testing for the presence of stochastic convergence thus after allowing for structural breaks evidence in favour of convergence in terms of real per capita gdp is found using both unit root and co integration tests empirical evidence shows that economic convergence has changed over time with mixed effects although changes were toward convergence in the majority of cases consistent with stochastic convergence carrion i silvestre j l et german soto v 2007 la convergence stochastique parmi les etats au mexique regional studies 41 531 541 cet article cherche a examiner le processus de convergence aux etats mexicains entre 1940 et

firm ownership china s export related emissions and the responsibility issue abstract china s co 2 emissions and those embodied in its exports have been extensively studied one often neglected aspect is the prevalence of foreign invested enterprises fies in china s exports for which a substantial portion of benefits return to the investing countries in this paper we revisit china s export related co 2 emission responsibilities by viewing them from a new gross national income perspective using a recently developed environmental input output framework one which distinguishes firms by ownership and trade mode we find that china s co 2 emissions responsibility for each yuan of national income from fie exports is actually higher than that attributable to chinese owned enterprise coe exports the result has a somewhat surprising implication it suggests another source of conflict between china s and global interest in reducing co 2 emissions from a purely chinese as opposed to global standpoint a higher share of exports by coes rather than fies is favorable even though coes emit more co 2 when producing each unit of exports this finding should sound an additional warning to those who still think that global climate change mitigation can be effectively pursued by allocating country by country emissions responsibility

land policies and farm performance in thailand s forest reserve areas illegal or unregistered occupation and utilization of public lands characterize the practice of large numbers of farmers in many less developed countries economic theory suggests that because squatters lack secure land ownership they will have fewer investment incentives than farmers with secure ownership further because squatters cannot legally use the land as loan collateral their access to institutional credit especially medium and long term credit is inhibited this has negative effects on squatters ability to invest squatters also face short term institutional credit constraints implying a low use of variable inputs consequently theory suggests that squatters land is less productive than titled land 1 one policy frequently adopted with the intention of increasing squatters productivity is the granting of usufruct rights or similar nontradable entitlements such policies are viewed by many policymakers as adequate alternatives to the provision of full unrestricted ownership empirical studies of these issues are scant and no quantitative assessments of the impact of policy measures addressing squatters have been reported this article presents the results of a quantitative research focusing on thailand as a case study in thailand an estimated 5 3 million hectares or about one fifth of the land officially designated as state owned forest reserve is under permanent occupation and cultivation by squatters this is about 21 of the land under cultivation and involves about 1 million farm households much of the encroached area is suitable for permanent agricultural cultivation and its continued exploitation poses no substantial environmental risks

regional income growth and net migration in sweden 1970 1995 this paper concerns the regional growth pattern in sweden and the purpose is to analyse what factors determine the growth rate of average income and the net migration at the regional level we fin

foreign direct investment and decoupling between energy and gross domestic product in developing countries on a sample of 20 developing countries we noticed a clear decline in the energy intensity as foreign direct investment increases the reason for that probably is the use of modern technologies that came with foreign direct investment i e a leapfrogging over the old fashioned traditional technologies in use in these countries

the short and long run causality relationship among economic growth energy consumption and financial development evidence from south mediterranean countries smcs abstract this study aims at examining the short run and long run causal link between economic growth energy consumption and financial development by using data set of 6 smcs for the 1995 2015 periods the basic testing procedure requires four steps adf and pp unit root tests bound tests for co integration ardl approach and vecm method the results confirm cointegration between the variables it means that the long run relationship exists the short run causal relationships unidirectional exist at least once for each country except egypt the granger causality results for individual countries give mixed results these results urge for the attention of the policy makers in smcs to design a comprehensive energy conservation policy to minimize the consequences of massive energy consumption on economic growth by adding financial development

using spatial econometrics to analyze local growth in sweden lundberg j 2006 using spatial econometrics to analyse local growth in sweden regional studies 40 303 316 the paper investigates factors that determine the average income growth and net migration rates in swedish municipalities during 1981 99 the main issue is to test the hypothesis that conditional on a set of other possible determinants of regional growth the growth rate in one municipality is affected by the growth rates in its neighbouring municipalities the hypothesis of conditional convergence is also tested a positive correlation is found between net migration rates in neighbouring municipalities which suggests that net migration tends to spillover to neighbouring municipalities when it comes to average income growth the results indicate spatial dependence in the error terms during the 1980s however there is no clear evidence in favour of the hypothesis of conditional convergence instead the results predict conditional divergence between municipalities located in the stockholm reg

asymmetric impacts of the determinants of energy intensity in nigeria abstract this study analysed the problem of energy intensity determinants in nigeria based on the fully modified ols and canonical cointegration regressions these methods were preferred since they are able to deal effectively with the second order bias problems an often characteristics of time series data the impacts of price of crude oil fdi trade openness and industry structure are asymmetric which suggests the presence of structural effects in parameters the impact of crude oil price is negative but becomes stronger post 1989 saving 126 more in energy consumption relative to pre 1989 also the impacts of fdi and trade openness are negative and significant but become stronger post 1989 saving 11 2 and 0 8 more in energy consumption relative to the baseline respectively for every one percentage point increase in fdi and trade openness the impact of industry value added is positive and significant but weakens after 1989 consuming 1 8 less in energy for every one percentage point increase in industry value added relative to the baseline the energy reducing effect of industry value added post 1989 reflects improvements in the technical characteristics of industrial sector in nigeria last the result showed that the absorptive capability and industry characteristics of nigeria are important determinants of how fdi affects energy intensity this implies that a more integrated fdi programme considering the country characteristics rather than a one fit all programme is preferable

comparison of energy transitions in the united states and developing and industrializing economies summary we compare the energy transitions of the united states with several developing and industrializing economies the analysis reveals three important differences between trends first the developing world experiences energy related transitions at lower levels of income with faster rates of change in conditions over time and in a more simultaneous fashion than that of the united states second over similar income ranges i e segments of economic growth current developing economies are using less energy per capita than the united states did historically finally this more efficient economic growth translates into lower systemic environmental impact per capita than that of the united states

impacts of economic indicators on environmental degradation evidence from mena countries abstract during the last two decades the relationship between macroeconomic variables and environmental pollution has been studied extensively moreover the environmental kuznets curve ekc hypothesis and the pollution haven hypothesis phh have been tested in numerous countries however the number of empirical studies focusing on testing these two hypotheses for mena middle east and north africa countries is limited and cross sectional and or time series methods were mainly utilized while the number of studies using panel econometric methodology is quite scant by using balanced panel data methodology this study aims to investigate the links and direction of causality between per capita income foreign direct investment energy use and carbon dioxide emission for mena countries for the period of 1980 2013 this study finds partial support for both the ekc and the phh for mena countries furthermore the empirical results show that foreign direct investment inflows and energy use have exacerbated pollution in the majority of mena countries

energy demand fdi nexus in africa do fdis induce dichotomous paths abstract this study investigates the nexus between energy demand and foreign direct investment fdi in africa using the simultaneous system generalized method of moments estimator and panel data that consists of 27 african countries over the period 2000 2014 specifically the study hypothesizes a non linear relationship between energy demand and fdi which imposes the assumption that conditions such as the level of technology absorptive capacity the level and stage of development and adjustment cost are likely to be heterogeneous across cross section and over time several empirical strategies such as changing the structure of the model set up using different sample groupings and applying different estimators with different assumptions were employed to substantiate the robustness nature of the hypothesized relationship the findings revealed a robust concave effect of fdi on energy consumption this suggests that there are learning and imitation experiences associated with fdi and these experiences produce dichotomous paths in terms of realizing the energy saving benefits of fdi

environmental degradation in france the effects of fdi financial development and energy innovations abstract this paper explores the determinants of carbon emissions in france by accounting for the significant role played by foreign direct investment fdi financial development economic growth energy consumption and energy research innovations in influencing co 2 emissions function in this endeavour we employ the novel sor shahbaz et al 2017 unit root test on french time series data over the period 1955 2016 to examine the order of integration in the presence of sharp and smooth structural breaks in the variables we also apply the bootstrapping bounds testing approach recently developed by mcnown et al 2018 to investigate the presence of cointegration and the empirical findings underscore the presence of cointegration among the time series moreover we find that fdi has a positive impact while energy research innovations have a negative impact on french carbon emissions financial development lowers carbon emissions thereby improving the french environmental quality fdi degrades the environment and thus supports the pollution haven hypothesis in france similarly financial development suggests that financial stability is a required condition for improving environmental quality so are energy research innovations contrarily energy consumption is positively linked with carbon emissions however the relationship between economic growth and co 2 emissions is an inverted u which is a validation of the environmental kuznets curve ekc

the effect of increasing exports on industrial energy intensity in china abstract given china s heavy reliance on fuel energy and the dominance of its industrial sector in the economy improving energy efficiency remains one of the practical means for the country to decrease energy intensity and to fulfill its commitment made at the copenhagen climate change conference to achieve a 40 45 percent reduction in co 2 emission intensity by 2020 this study investigates the impact of exports on industrial energy intensity to explore the possibility of reducing energy intensity through greater exports a panel varying coefficient regression model with a dataset of china s 20 industrial sub sectors over 1999 2007 suggests that in general greater exports aggravate energy intensity of the industrial sector and that great divergences exist in the impact of exports on energy intensity across sub sectors a panel threshold model further estimates the thresholds for the major determinants of energy intensity exports input in technological innovations and foreign direct investment fdi intensity given the great differences in specific sub sector characteristics and the changing roles played by different factors across sub sectors there is no general export policy that would work for all sub sectors in reducing sub sector energy intensity instead policies and measures aiming to encourage more efficient use of energy should take into full consideration the characteristics and situations of individual sub sectors

the transition between energy efficient and energy inefficient states in cameroon i use a two state energy efficient inefficient markov switching dynamic model to study energy efficiency in cameroon in a novel manner employing yearly data covering 1971 to 2012 i find that th

the impact of financial development on energy consumption in emerging economies abstract financial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand this study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries several different measures of financial development are examined using a panel data set on 22 emerging countries covering the period 1990 2006 the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to gdp stock market value traded to gdp and stock market turnover the implications of these results for energy policy are discussed

the effect of foreign direct investment and stock market growth on clean energy use across a panel of emerging market economies this study investigates the impact of both fdi inflows and stock market developments on clean energy use across 20 emerging market economies spanning the period 1991 2012 it accounts for cross sectional dependence and heterogeneity in the analysis and employs robust panel econometric techniques the empirical results on long run elasticities display that economic output fdi inflows and stock market developments have all a significant positive impact on clean energy consumption finally the results on heterogeneous panel non causality tests indicate the presence of unidirectional causality running from fdi to clean energy consumption in the short run for robustness purposes the paper also estimates long run elasticities for individual countries with the findings documenting that both fdi inflows and stock market developments have a considerable positive impact on clean energy uses the findings urge that both policy makers and governments in these emerging market economies should initiate effective public private partnership investments in clean energy projects by providing lucrative incentives which in turn will encourage both domestic and foreign investors to invest more in clean energy projects and eventually moving these economies towards sustainable economic growth

is energy consumption sensitive to foreign capital inflows and currency devaluation in pakistan this study investigates the relationship between foreign capital inflows and energy consumption by incorporating economic growth exports and currency devaluation in energy demand function for the

interaction between knowledge and technology a contribution to the theory of development this article attempts to explain the large and persistent disparities in levels of output per worker across countries it is argued that an explanation for these disparities requires an understanding of the relationship between knowledge and technology the model that is constructed can be summarized as an open economy version of the solow swan growth model in which technological change is investment specific and knowledge about new technologies is embodied in labour in the model income differences arise because poor countries lack the knowledge to implement foreign technologies productively furthermore these disparities persist when countries differ in their ability to learn jel

energy intensity and investment ownership across chinese provinces abstract the main objective of this paper is to investigate whether openness and investment ownership are key factors in explaining the diffusion of energy saving technologies in china compared with previous studies the novel aspect of this work is the use of a rich dataset at provincial level which allows the high level of regional heterogeneity to be taken into consideration the unbalanced regional growth has been translated into differences in the need for energy resources across the vast territory of china a detailed analysis of these issues may provide new insights into the energy situation in this country the analysis is also disaggregated by type of energy coal electricity and petroleum we estimate the models by panel corrected standard errors developed by beck and katz 1995 over the period 1985 2008 results obtained confirm the hypothesis that both foreign and non state investments play a leading role in the decline of energy intensity across chinese regions whereas there is no evidence of a positive contribution of state investment the findings also reveal differences in energy intensity across regions thus confirming the importance of accounting for the regional dimension when analyzing energy consumption in china

socio economic determinants of energy consumption an empirical survey for greece abstract the present study identifies and evaluates the macroeconomic factors that determine energy consumption in greece this study is based on annual time series data covering the period ranging from 1975 2013 the augmented dickey fuller adf test and kpss test are employed in order to test stationarity of the data confirming that all the variables are i 1 within the next step of the methodology we employed a vecm model in order to detect causality among the variables through the granger causality test similarly the impulse response analysis provides that urbanization infrastructure trade income population growth and foreign direct investment are the main determinants of energy consumption in greece during the period surveyed the findings suggest that in order to fulfill the energy demand in the country the decision makers need to formulate energy policy in favor of enlarging the supply of energy and especially renewable energy to foster the process of economic growth and development especially in the times of crisis the particular determinants are a necessity to initiate economic growth

the relationship amongst energy consumption foreign direct investment and output in developed and developing countries abstract the current study inspects the nexus amongst energy consumption fdi inflows and output in 75 countries meantime the period 1990 2010 we further examine this relationship with regard to developed as well as developing countries assembled from diverse geographic regions from the world the present results display that there is proof of bidirectional linkage concerning fdi and output per capita concerning renewable energy consumption and gross domestic product per capita and concerning non renewable energy and gross domestic product per capita in the three groups of countries developed all and developing in addition the judgments detect a bidirectional linkage concerning renewable energy consumption and fdi in developed countries an increase of 1 rate in renewable energy participates to improving fdi by 0 185 and at the same time an increase of fdi contributes to enhancing renewable energy by 0 292 nevertheless in the case of all and developing countries the results discover unidirectional link moving from foreign inflows to both sorts of energy in conclusion the policy recommendations of our empirical results are taken into consideration

aggregate economic fluctuations and regional convergence the finnish case 1988 95 this paper analyses the connection between aggregate economic fluctuations and regional productivity convergence in finland during the period 1988 95 markov chain transition matrices and mobility indices were used to examine the regional distribution of productivity the results indicated that high intra distribution mobility occurred during booms when regional convergence potential was also at its highest conversely recession years were characterized by much lower mobility and a more divergent regional pattern these findings bear important implications in terms of regional policy planning as it seems that poor regions do not manage to keep up with the rich ones during slumps whereas regional disparities diminish naturally during boom years

how do industrialization and trade openness influence energy intensity evidence from a path model in case of bangladesh abstract nowadays multifaceted interdependence between macroeconomic variables results in an extended list of factors that have diverse impacts on energy intensity thus sustaining energy intensity at a desired level demands advanced studies to investigate the multifarious influences of its factors and ensure proactive measures to deal with them this paper aims to set up a path model to analyze the direct and indirect impacts of industrialization and trade openness on energy intensity in bangladesh the results corroborate that industrialization has a direct positive influence on energy intensity where trade openness shows a direct negative effect on it and both industrialization and trade openness have negative indirect impact on energy intensity through technological innovation and economic growth respectively in case of individual total impacts only industrialization affects energy intensity positively where trade openness technological innovation and economic growth negatively do based on the empirical results some policy implications regarding energy intensity and effects of its factors on it are also presented

the spillovers of foreign direct investment and the convergence of energy intensity abstract the imbalance and insufficiency of china s regional economic development has led to huge differences in regional energy efficiency reducing the differences in regional energy efficiency has become an urgent energy issue in china the constant absorption of foreign direct investment fdi has brought advanced technologies to china which has an important impact on china s energy efficiency to explore whether fdi can reduce regional energy efficiency differences this paper investigates the existence of energy intensity convergence while incorporating foreign direct investment fdi since existing research on regional energy intensity convergence lacks of consideration of the data spatial dependence we focus on spatial econometric model to test energy intensity convergence we use panel data of 30 provinces in china over the period of 2005 2014 to test energy intensity convergence by convergence model the empirical results show that considering the spatial dependence of the data fdi can promote the formation of conditional energy intensity convergence further analysis found that the spillover effect of fdi plays an important role in this formation in addition the convergence speed accelerates after considering the spatial dependence finally the spillover effect of fdi which is global inhibits the declining speed of energy intensity during the research period the scale effect of fdi and energy rebound effect plays an important role in the effect of fdi on energy intensity these results show that guiding foreign investment more reasonably in each province in china can make contributions to the reduction of energy efficiency differences

factors determining energy consumption evidence from indonesia malaysia and thailand abstract the aim of this study is to verify empirically the impact of various factors on energy consumption in three asean countries namely indonesia malaysia and thailand over the period 1980 to 2012 after using sundry appropriate diagnostic tests for checking time series data the method of least square as an analytical technique is used for parameters estimation the findings validate that fdi inflows economic growth trade openness and human development index have positive and statistically significant impacts on energy consumption the other variable urbanization has positive and statistically significant impacts on energy consumption for thailand and indonesia only while the empirical results reveals that population growth rate has a positive and statistically significant relationship with energy consumption only in the case of malaysia so in the light of determinations of the study the policy implication is that energy policy needs to be orientated in favor of expanding the supply of energy to reach an enhanced degree of sustainable economic growth and development

comparisons of decoupling trends of global economic growth and energy consumption between developed and developing countries abstract the development of economy in developing countries is expected to contribute mostly to the growth of world energy consumption using environment impact gdp technology igt decoupling model we carry out a comparative study on the decoupling trends of economic growth and energy consumption for both developed and developing countries in past five decades 1965 2015 the results indicate that the decoupling indices of developed countries are superior to that of developing countries the specific performances are 1 the decoupling indices of developed countries are shown to be stable and tend to approximate absolute decoupling 2 the decoupling indices of developing countries fluctuate in the relative decoupling interval on this basis this research employs grey relational analysis gra to explore the reasons resulting in the difference of decoupling indices from the perspective of technical progress industrial structure and economic growth pattern the findings show that in developed countries technical progress factor exerts greatest influence on decoupling indices followed by industrial structure and economic growth pattern in developing countries industrial structure and economic growth pattern have greater impact on decoupling indices than technical progress based on research conclusion this research offers developing countries relevant policy suggestions for energy saving and emission reduction in the future

foreign direct investment and the nature of r d the authors find that the role foreign direct investment fdi plays in international technology transfer itt hinges on whether substitute channels of itt such as imitation exist for the host country if fdi is the sole channel of itt a faster flow of fdi to the south increases the rates of innovation imitation and itt so fdi generates dynamic benefits if fdi and imitation coexist as channels of itt however then fdi merely substitutes for imitation targeting northern firms a faster flow of fdi to the south then leaves the rates of innovation imitation and itt essentially unaffected so fdi generates mostly static benefits

the dynamic links between energy consumption economic growth financial development and trade in china fresh evidence from multivariate framework analysis abstract this study investigates the relationship between energy use and economic growth by incorporating financial development international trade and capital as important factors of production function in case of china over the period of 1971 2011 the ardl bounds testing approach to cointegration was applied to examine long run relationship among the series while stationarity properties of the variables was tested by applying structural break test our empirical evidence confirmed long run relationship among the variables the results showed that energy use financial development capital exports imports and international trade have positive impact on economic growth the granger causality analysis revealed that unidirectional causal relationship running from energy use to economic growth financial development and energy use granger cause each other there is bidirectional causality between international trade and energy use the feedback relation exists between financial development and international trade there is also bidirectional causality exists between capital and energy demand financial development and economic growth and international trade and economic growth this paper makes significant contribution in energy economics and opens up new direction for policy makers to explore new and alternative sources of energy which would be helpful in meeting the rising demand of energy due to sustained rate of economic growth

the impact of financial development on carbon emissions an empirical analysis in china given the complexity between china s financial development and carbon emissions this paper uses some econometric techniques including cointegration theory granger causality test variance decomposition etc to explore the influence of financial development on carbon emissions results indicate that first china s financial development acts as an important driver for carbon emissions increase which should be taken into account when carbon emissions demand is projected second the influence of financial intermediation scale on carbon emissions outweighs that of other financial development indicators but its efficiency s influence appears by far weaker although it may cause the change of carbon emissions statistically third china s stock market scale has relatively larger influence on carbon emissions but the influence of its efficiency is very limited this to some extent reflects the relatively lower liquidity in china s stock markets finally among financial development indicators china s fdi exerts the least influence on the change of carbon emissions due to its relatively smaller volume compared with gdp but it is mainly utilized in carbon intensive sectors now therefore with the increase of china s fdi in the future many efforts should be made to adapt its utilizing directions and play its positive role in promoting low carbon development