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On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China
- Source :
- Ekonomska Istraživanja, Vol 0, Iss 0, Pp 1-18 (2021), Economic research-Ekonomska istraživanja, Volume 35, Issue 1
- Publication Year :
- 2021
- Publisher :
- Taylor & Francis Group, 2021.
-
Abstract
- One of the strategic objectives of China is to increase renewable energy consumption by reducing non-renewable energy consumption. This motivates us to carefully investigate the asymmetric effects of financial deepening on renewable and non-renewable energy consumption for China, using annual data from 1990 to 2019. The results show that in China, a positive shock in bank deposits and broad money has a significant increasing effect on renewable energy consumption, while a negative shock in bank deposits and broad money has also a significant increasing effect on renewable energy consumption in the long-run. Moreover, positive change in bank deposits and broad money has an inverse impact on non-renewable energy consumption, while negative change has stimulating non-renewable energy consumption in long run. Thus, government and policymaker’s policies aimed at promoting financial deepening in China must be persistent and sustainable to foster renewable energy consumption.
- Subjects :
- Consumption (economics)
Economics and Econometrics
non-renewable energy consumption
Natural resource economics
business.industry
bank deposits
Broad money
Economic growth, development, planning
Renewable energy consumption
Energy consumption
broad money
Financial deepening
Renewable energy
Regional economics. Space in economics
Bank deposits
renewable energy consumption
nonrenewable energy consumption
China
NARDL
nardl
HT388
Economics
HD72-88
business
china
Non-renewable resource
Subjects
Details
- Language :
- English
- ISSN :
- 18489664 and 1331677X
- Database :
- OpenAIRE
- Journal :
- Ekonomska Istraživanja
- Accession number :
- edsair.doi.dedup.....846f2a540228a6075ae2a949836f6597