Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2106508
Research methods on the role of financial inclusion, energy efficiency and energy R&D: Evidence from G7 economies
Guo Meng
Wei Fan
Xiaomin Huang
Jiaozi He
Sažetak
Countries around the globe are rapidly targeting energy efficiency
goal achievement due to the unproductive and inefficient use of
traditional energy sources. Several factors are discovered that are
critical for energy efficiency in the region. Still, there are many economic,
financial, energy, and research and development factors that
could influence energy efficiency and remained ignored in the scholarly
research, which is important from economic growth as well as
environmental sustainability perspective. This research contributes to
the existing literature by providing novel factors affecting energy
efficiency in the developed nations. Specifically, the current study
investigates the influence of financial inclusion, energy R&D, political-
economic-financial risk index, and the energy-related inflation on
the energy efficiency of G7 economies covering the period from
2004 to 2020. This study employed the slope heterogeneity and
cross-section dependence test, which led to using the second-generation
unit root test. For empirical estimations, the current study utilizes
the panel Quantile regression, and the outcomes reveal that all
the considered variables positively influence the energy efficiency in
the region. However, the influence of these variables increases
except for the energy-related inflation when moving from lower
quantile Q0.25 to medium Q0.50 to higher quantile Q0.75, respectively.
The estimated results are found robust, confirmed by the FMOLS
estimator. Based on the empirical findings, it is recommended that
financial inclusion and energy-related research and development be
enhanced to achieve the region’s energy efficiency.
Ključne riječi
Energy efficiency; financial inclusion; Energy R&D; political risk index; quantile regression
Hrčak ID:
306638
URI
Datum izdavanja:
30.4.2023.
Posjeta: 146 *