School of Management and Economics, Beijing Institute of Technology, Beijing, 100081, China.
Center for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing, 100081, China.
Environ Sci Pollut Res Int. 2018 Aug;25(24):24326-24337. doi: 10.1007/s11356-018-2488-y. Epub 2018 Jun 14.
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.
在过去的几年中，全球化呈现出快速发展的模式。全球化的加速通过知识共享和技术转移扩大了经济活动，从而影响了能源需求。因此，这项实证工作的目的是探讨金融发展对能源需求的影响，同时考虑到全球化的因素。该实证结果基于 1980 年至 2016 年期间中国的自回归分布滞后 (ARDL) 约束检验方法。总的来说，我们推断金融发展会增加中国的能源需求。此外，研究结果表明，全球化对能源需求具有负向且显著的影响。其他决定因素，如经济增长和城市化，也会刺激能源消耗。此外，能源消耗在长期路径上是金融发展的格兰杰原因。同样，在全球化和能源消耗之间也检测到了单向因果关系。这一结果为政策制定者提供了方向，以在中国加速全球化的过程中保护和提高能源效率，促进经济增长。
