Effects of financial development on energy consumption: The role of country risks
This study explores the impacts of country risks on the relationship between energy consumption and financial development for 79 countries. By using the panel smooth transition regression model, this study finds non-linear relationships between variables - that is, the relationships differ in higher...
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| Veröffentlicht in: | Energy economics 2020-08, Vol.90, p.104833, Article 104833 |
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| creator | Chiu, Yi-Bin Lee, Chien-Chiang |
| description | This study explores the impacts of country risks on the relationship between energy consumption and financial development for 79 countries. By using the panel smooth transition regression model, this study finds non-linear relationships between variables - that is, the relationships differ in higher and lower risk environments. We show that banking sector development has larger impacts on energy consumption than does stock market development. The results of the full sample show under the stable country risk environments that financial development could help to reduce energy consumptions. Lastly, the results offer that different types of financial development and country risk environments have varying impacts on energy consumption in OECD and non-OECD countries.
•Explore the impacts of country risks on the energy-finance nexus.•Use the panel smooth transition regression model.•The relationships between variables differ in higher and lower risk environments.•Banking sector development has larger impacts on energy consumption than does stock market development.•Under the stable country risk environments financial development could help to reduce energy consumptions. |
| doi_str_mv | 10.1016/j.eneco.2020.104833 |
| format | Article |
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•Explore the impacts of country risks on the energy-finance nexus.•Use the panel smooth transition regression model.•The relationships between variables differ in higher and lower risk environments.•Banking sector development has larger impacts on energy consumption than does stock market development.•Under the stable country risk environments financial development could help to reduce energy consumptions.</description><identifier>ISSN: 0140-9883</identifier><identifier>EISSN: 1873-6181</identifier><identifier>DOI: 10.1016/j.eneco.2020.104833</identifier><language>eng</language><publisher>Kidlington: Elsevier B.V</publisher><subject>Banking ; Country risk ; Energy consumption ; Energy development ; Energy economics ; Environmental impact ; Financial development ; Panel smooth transition regression ; Political risk ; Principal component analysis ; Regression models ; Risk ; Risk reduction ; Securities markets ; Stock exchanges</subject><ispartof>Energy economics, 2020-08, Vol.90, p.104833, Article 104833</ispartof><rights>2020 Elsevier B.V.</rights><rights>Copyright Elsevier Science Ltd. Aug 2020</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c462t-8114b75bb8740e211490b759e401f20e0a4a248168778c5414ba7d701cd5a2143</citedby><cites>FETCH-LOGICAL-c462t-8114b75bb8740e211490b759e401f20e0a4a248168778c5414ba7d701cd5a2143</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/j.eneco.2020.104833$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,780,784,3550,27866,27924,27925,45995</link.rule.ids></links><search><creatorcontrib>Chiu, Yi-Bin</creatorcontrib><creatorcontrib>Lee, Chien-Chiang</creatorcontrib><title>Effects of financial development on energy consumption: The role of country risks</title><title>Energy economics</title><description>This study explores the impacts of country risks on the relationship between energy consumption and financial development for 79 countries. By using the panel smooth transition regression model, this study finds non-linear relationships between variables - that is, the relationships differ in higher and lower risk environments. We show that banking sector development has larger impacts on energy consumption than does stock market development. The results of the full sample show under the stable country risk environments that financial development could help to reduce energy consumptions. Lastly, the results offer that different types of financial development and country risk environments have varying impacts on energy consumption in OECD and non-OECD countries.
•Explore the impacts of country risks on the energy-finance nexus.•Use the panel smooth transition regression model.•The relationships between variables differ in higher and lower risk environments.•Banking sector development has larger impacts on energy consumption than does stock market development.•Under the stable country risk environments financial development could help to reduce energy consumptions.</description><subject>Banking</subject><subject>Country risk</subject><subject>Energy consumption</subject><subject>Energy development</subject><subject>Energy economics</subject><subject>Environmental impact</subject><subject>Financial development</subject><subject>Panel smooth transition regression</subject><subject>Political risk</subject><subject>Principal component analysis</subject><subject>Regression models</subject><subject>Risk</subject><subject>Risk reduction</subject><subject>Securities markets</subject><subject>Stock exchanges</subject><issn>0140-9883</issn><issn>1873-6181</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2020</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><recordid>eNp9kF9LwzAUxYMoOKefwJeAz51JmjaZ4IOM-QcGIsznkKW3mtolNWkH-_am1mefLudyzrncH0LXlCwooeVtswAHxi8YYeOGyzw_QTMqRZ6VVNJTNCOUk2wpZX6OLmJsCCFFWcgZelvXNZg-Yl_j2jrtjNUtruAAre_24HrsHU7l4eOIjXdx2He99e4Obz8BB9_CGDR-cH044mDjV7xEZ7VuI1z9zTl6f1xvV8_Z5vXpZfWwyQwvWZ9JSvlOFLudFJwAS2pJkl4CJ7RmBIjmmnFJSymENAVPbi0qQaipCs0oz-foZurtgv8eIPaq8UNw6aRiXEjJWF7Q5Monlwk-xgC16oLd63BUlKiRnWrULzs1slMTu5S6n1KQHjhYCCoaC85AZUOipSpv_83_AApWdxs</recordid><startdate>20200801</startdate><enddate>20200801</enddate><creator>Chiu, Yi-Bin</creator><creator>Lee, Chien-Chiang</creator><general>Elsevier B.V</general><general>Elsevier Science Ltd</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7ST</scope><scope>7TA</scope><scope>7TQ</scope><scope>8BJ</scope><scope>8FD</scope><scope>C1K</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>JBE</scope><scope>JG9</scope><scope>SOI</scope></search><sort><creationdate>20200801</creationdate><title>Effects of financial development on energy consumption: The role of country risks</title><author>Chiu, Yi-Bin ; Lee, Chien-Chiang</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c462t-8114b75bb8740e211490b759e401f20e0a4a248168778c5414ba7d701cd5a2143</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2020</creationdate><topic>Banking</topic><topic>Country risk</topic><topic>Energy consumption</topic><topic>Energy development</topic><topic>Energy economics</topic><topic>Environmental impact</topic><topic>Financial development</topic><topic>Panel smooth transition regression</topic><topic>Political risk</topic><topic>Principal component analysis</topic><topic>Regression models</topic><topic>Risk</topic><topic>Risk reduction</topic><topic>Securities markets</topic><topic>Stock exchanges</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Chiu, Yi-Bin</creatorcontrib><creatorcontrib>Lee, Chien-Chiang</creatorcontrib><collection>CrossRef</collection><collection>Environment Abstracts</collection><collection>Materials Business File</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Technology Research Database</collection><collection>Environmental Sciences and Pollution Management</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>Materials Research Database</collection><collection>Environment Abstracts</collection><jtitle>Energy economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Chiu, Yi-Bin</au><au>Lee, Chien-Chiang</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Effects of financial development on energy consumption: The role of country risks</atitle><jtitle>Energy economics</jtitle><date>2020-08-01</date><risdate>2020</risdate><volume>90</volume><spage>104833</spage><pages>104833-</pages><artnum>104833</artnum><issn>0140-9883</issn><eissn>1873-6181</eissn><abstract>This study explores the impacts of country risks on the relationship between energy consumption and financial development for 79 countries. 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•Explore the impacts of country risks on the energy-finance nexus.•Use the panel smooth transition regression model.•The relationships between variables differ in higher and lower risk environments.•Banking sector development has larger impacts on energy consumption than does stock market development.•Under the stable country risk environments financial development could help to reduce energy consumptions.</abstract><cop>Kidlington</cop><pub>Elsevier B.V</pub><doi>10.1016/j.eneco.2020.104833</doi></addata></record> |
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| ispartof | Energy economics, 2020-08, Vol.90, p.104833, Article 104833 |
| issn | 0140-9883 1873-6181 |
| language | eng |
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| source | PAIS Index; Access via ScienceDirect (Elsevier) |
| subjects | Banking Country risk Energy consumption Energy development Energy economics Environmental impact Financial development Panel smooth transition regression Political risk Principal component analysis Regression models Risk Risk reduction Securities markets Stock exchanges |
| title | Effects of financial development on energy consumption: The role of country risks |
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