Original scientific paper
https://doi.org/10.1080/1331677X.2022.2035245
Financial inclusion and energy productivity: evaluating the role composite risk for E7 countries
Yue Yang
Zhe Zhu
Zafir Ullah Khan
Summiya Aftab
Abstract
The global temperature has been on the rise in recent times. Due
to the worsening environmental quality and greenhouse gas
emissions, countries around the globe are looking for energy
productivity. Various countries have successfully promoted cleaner
technologies. This study empirically examines the determinants of
energy productivity for the panel of seven emerging economies
during 2004–2019 to understand why some countries are more
energy productive compared to others. This study contributes to
the previous literature by identifying the new influencing factors
for a selected set of emerging countries that help import universal suggestions for improving energy productivity, green growth,
and sustainable development. Using an Augmented Mean Group
(A.M.G.) approach, the results suggest that financial inclusion
(F.I.N.I.N.C.), globalisation (G.L.B.), human capital index (H.C.I.),
composite risk index (C.R.I.) and income are important factors
contributing to energy productivity in sample countries.
Specifically, an increase in one unit’s F.I.N.I.N.C. brings about a 3%
increase in the value of energy productivity. Hence, we conclude
that a well-functioning financial system is important in achieving
sustainable development goals (S.D.G.s).
Keywords
Financial inclusion; energy productivity; globalization; composite risk
Hrčak ID:
302869
URI
Publication date:
31.3.2023.
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