School of Economics and Management, Beijing University of Posts and Telecommunications, No.10, Xitucheng, Haidian District, 100876, Beijing, People's Republic of China.
School of International Business, Southwestern University of Finance and Economics, Chengdu, 611130, China.
Environ Sci Pollut Res Int. 2020 May;27(14):16472-16483. doi: 10.1007/s11356-020-08123-6. Epub 2020 Mar 2.
In recent times, financial development and industrial progression accrue energy demand. Therefore, the present research is investigating the nexuses of energy consumption-financial development indicators for 32 Asian economies including the FDI, economic growth, and urban sprawl. The long-run marginal impacts and causal linkage are estimated through the dynamic seemingly unrelated regression and the heterogeneous causality respectively. The estimates infer that financial development indicators are deteriorating the energy consumption in the Asian region, while both FDI and urban sprawl accrue energy consumption. However, economy-wise estimates infer the heterogeneous impacts on energy consumption. Heterogenous causality infers a bidirectional causality among the financial development indicators and energy consumption. There is a need to devise the energy policies related to the financial sector for sustainable usage energy and a clean environment.
近年来，金融发展和产业进步增加了能源需求。因此，本研究调查了包括外国直接投资、经济增长和城市扩张在内的 32 个亚洲经济体的能源消费-金融发展指标的关系。通过动态似不相关回归和异质因果关系分别估计了长期边际影响和因果关系。估计结果表明，金融发展指标正在恶化亚洲地区的能源消费，而外国直接投资和城市扩张都在增加能源消费。然而，从经济角度来看，对能源消费的影响存在异质性。异质因果关系推断金融发展指标与能源消费之间存在双向因果关系。需要制定与金融部门相关的能源政策，以实现能源的可持续利用和清洁环境。
