On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China
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 f...
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Taylor & Francis Group
2021
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oai:doaj.org-article:2bb47b7a63fd4ad6abfca8932885b3422021-12-01T14:40:58ZOn the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China1331-677X1848-966410.1080/1331677X.2021.2007413https://doaj.org/article/2bb47b7a63fd4ad6abfca8932885b3422021-11-01T00:00:00Zhttp://dx.doi.org/10.1080/1331677X.2021.2007413https://doaj.org/toc/1331-677Xhttps://doaj.org/toc/1848-9664One 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.Wang LeiIlhan OzturkHafeez MuhammadSana UllahTaylor & Francis Grouparticlebank depositsbroad moneyrenewable energy consumptionnon-renewable energy consumptionchinanardlEconomic growth, development, planningHD72-88Regional economics. Space in economicsHT388ENEkonomska Istraživanja, Vol 0, Iss 0, Pp 1-18 (2021) |
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DOAJ |
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DOAJ |
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EN |
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bank deposits broad money renewable energy consumption non-renewable energy consumption china nardl Economic growth, development, planning HD72-88 Regional economics. Space in economics HT388 |
| spellingShingle |
bank deposits broad money renewable energy consumption non-renewable energy consumption china nardl Economic growth, development, planning HD72-88 Regional economics. Space in economics HT388 Wang Lei Ilhan Ozturk Hafeez Muhammad Sana Ullah On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| description |
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. |
| format |
article |
| author |
Wang Lei Ilhan Ozturk Hafeez Muhammad Sana Ullah |
| author_facet |
Wang Lei Ilhan Ozturk Hafeez Muhammad Sana Ullah |
| author_sort |
Wang Lei |
| title |
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| title_short |
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| title_full |
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| title_fullStr |
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| title_full_unstemmed |
On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China |
| title_sort |
on the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from china |
| publisher |
Taylor & Francis Group |
| publishDate |
2021 |
| url |
https://doaj.org/article/2bb47b7a63fd4ad6abfca8932885b342 |
| work_keys_str_mv |
AT wanglei ontheasymmetriceffectsoffinancialdeepeningonrenewableandnonrenewableenergyconsumptioninsightsfromchina AT ilhanozturk ontheasymmetriceffectsoffinancialdeepeningonrenewableandnonrenewableenergyconsumptioninsightsfromchina AT hafeezmuhammad ontheasymmetriceffectsoffinancialdeepeningonrenewableandnonrenewableenergyconsumptioninsightsfromchina AT sanaullah ontheasymmetriceffectsoffinancialdeepeningonrenewableandnonrenewableenergyconsumptioninsightsfromchina |
| _version_ |
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