文章基本信息

标题：Financial Development and Bioenergy Consumption in the EU28 Region: Evidence from Panel Auto-Regressive Distributed Lag Bound Approach
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作者：Mohd Alsaleh ; A. S. Abdul-Rahim
期刊名称：Resources
电子版ISSN：2079-9276
出版年度：2019
卷号：8
期号：1
页码：44-56
DOI：10.3390/resources8010044
出版社：MDPI Publishing
摘要：This paper investigates the relationship between financial development and bio-energy consumption in the European Union (EU28) countries for the period from 1990 to 2013 through the panel autoregressive distributed lag (ARDL) approach and causality analysis. The empirical results show that financial development shows a significant positive impact, at a 1% statistical level, on bio-energy consumption for the EU28 during the studied period. In developing countries, the financial market indicator affects bio-energy consumption outgrowth positively and significantly at a 1% statistical level. For developed countries, there is a positive influence of financial institutions and financial market indicators on bio-energy consumption growth at the 1% and 10% levels, respectively. The study concludes that there is a significant relationship between the consumption of bio-energy and financial development factors. The study provides recommendations that are useful when formulating policy related to energy consumption and the promotion of bio-energy consumption. Financial development and economic outgrowth show a significant influence on the outgrowth of bio-energy consumption at a 1% statistical level.
关键词：Financial institution; financial market; bio-energy consumption; autoregressive model