气候变化领域集成服务门户(CCPortal): Highlighting the connection between financial development and consumption of energy in countries with the highest economic freedom

CCPortal

DOI	10.1016/j.enpol.2020.111897
	Highlighting the connection between financial development and consumption of energy in countries with the highest economic freedom
	Assi A.F.; Zhakanova Isiksal A.; Tursoy T.
发表日期	2020
ISSN	03014215
卷号	147
英文摘要	This study explores the association that financial development, economic freedom, and the price of gasoline had with gasoline consumption in 28 countries with the highest economic freedom for the period 1996–2017. The ARDL analysis methodology was used to construct a heterogeneous dynamic panel to test the panel data. The Westerlund panel cointegration test was then performed to determine if the factors were cointegrated. Finally, we used the Dumitrescu-Hurlin panel causality test in order to develop effective policies. The results state that both financial development and the price of gasoline play an essential role in reducing the consumption of gasoline. Additionally, economic freedom is closely related to an increase in gasoline consumption. By employing the variable of the Global Financial Crisis (GFC), the robustness test shows the negative and statistically significant effect of the latter on gasoline consumption and confirms the main findings. Therefore, the GFC played a crucial role in changing the economic plans of the countries with high levels of economic freedom. This suggests that these countries should reinforce financial development to generate green innovations. Further important policy implications for the 28 countries with the highest economic freedom are provided at the end of the paper. © 2020 Elsevier Ltd
关键词	Economic freedom Financial development Gasoline consumption Gasoline price
英文关键词	Finance; Public policy; Consumption of energy; Financial development; Global financial crisis; Green innovations; Heterogeneous dynamics; Panel co integrations; Policy implications; Robustness tests; Gasoline; economic development; energy market; energy use; financial crisis; fuel consumption; panel data
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/204543
作者单位	Near East University, Nicosia / TRNC Mersin 10ZIP, 99138, Turkey
推荐引用方式 GB/T 7714	Assi A.F.,Zhakanova Isiksal A.,Tursoy T.. Highlighting the connection between financial development and consumption of energy in countries with the highest economic freedom[J],2020,147.
APA	Assi A.F.,Zhakanova Isiksal A.,&Tursoy T..(2020).Highlighting the connection between financial development and consumption of energy in countries with the highest economic freedom.Energy Policy,147.
MLA	Assi A.F.,et al."Highlighting the connection between financial development and consumption of energy in countries with the highest economic freedom".Energy Policy 147(2020).