SỐ 211 | Tháng 10/2023
Đánh giá tác động của phát triển tài chính lên tiêu dùng năng lượng tái tạo: Tổng quan và khung khái niệm
Phạm Thị Thúy Diễm
Tóm tắt:
Cho đến nay, tồn tại ít nghiên cứu quan tâm đến tác động của phát triển tài chính lên tiêu dùng năng lượng tái tạo (NLTT) trên toàn thế giới. Sử dụng phương pháp tiếp cận tổng quan hệ thống, nghiên cứu này nhằm đúc kết những quan điểm lý thuyết và bằng chứng thực nghiệm khác nhau để phát triển khung khái niệm toàn diện. Dựa trên tổng quan tài liệu, bài viết tích hợp lĩnh vực tài chính, NLTT, người tiêu dùng và nhà sản xuất trong môi trường thể chế vào khung khái niệm mô tả sự tương tác giữa phát triển tài chính, tiêu dùng NLTT và tăng trưởng kinh tế. Khung khái niệm này đóng góp vào các cuộc tranh luận hiện nay về tác động của phát triển tài chính lên tiêu dùng NLTT.
Tài liệu tham khảo:
- Alsagr, N., & van Hemmen, S. (2021). The impact of financial development and geopolitical risk on renewable energy consumption: evidence from emerging markets. Environmental Science and Pollution Research, 28, 25906-25919.
- Al-Yousif, Y. K. (2002). Financial development and economic growth: another look at the evidence from developing countries. Review of financial economics, 11(2), 131-150.
- Anton, S. G., & Nucu, A. E. A. (2020). The effect of financial development on renewable energy consumption. A panel data approach. Renewable Energy, 147, 330-338.
- Best, R. (2017). Switching towards coal or renewable energy? The effects of financial capital on energy transitions. Energy Economics, 63, 75-83.
- Bilgili, F., Koçak, E., & Bulut, Ü. (2016). The dynamic impact of renewable energy consumption on CO2 emissions: a revisited Environmental Kuznets Curve approach. Renewable and Sustainable Energy Reviews, 54, 838-845.
- Brunnschweiler, C. N. (2010). Finance for renewable energy: an empirical analysis of developing and transition economies. Environment and development economics, 15(3), 241-274.
- Burakov, D., & Freidin, M. (2017). Financial development, economic growth and renewable energy consumption in Russia: A vector error correction approach. International Journal of Energy Economics and Policy, 7(6), 39.
- Çağlar, A. E., & Kubar, Y. (2017). Finansal gelişme enerji tüketimini destekler mi?. Süleyman Demirel Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (27), 96-121.
- Çetin, M. A., & Bakirtaş, İ. (2018). Finansal gelişmişliğin yenilenebilir enerji tüketimi üzerindeki uzun dönemli etkileri: G-7 ülkeleri örneği. Trakya Üniversitesi Sosyal Bilimler Dergisi, 20(2), 37-54.
- Chang, L., Qian, C., & Dilanchiev, A. (2022). Nexus between financial development and renewable energy: empirical evidence from nonlinear autoregression distributed lag. Renewable Energy, 193, 475-483.
- Čihák, M., Demirgüç-Kunt, A., Feyen, E., & Levine, R. (2012). Benchmarking financial systems around the world. World Bank policy research working paper, (6175).
- Claessens, S., & Feijen, E. (2007). Financial sector development and the millennium development goals (No. 89). World Bank Publications.
- Çoban, S., & Topcu, M. (2013). The nexus between financial development and energy consumption in the EU: A dynamic panel data analysis. Energy Economics, 39, 81-88.
- Eren, B. M., Taspinar, N., & Gokmenoglu, K. K. (2019). The impact of financial development and economic growth on renewable energy consumption: Empirical analysis of India. Science of the Total Environment, 663, 189-197.
- Furuoka, F. (2015). Financial development and energy consumption: Evidence from a heterogeneous panel of Asian countries. Renewable and Sustainable Energy Reviews, 52, 430-444.
- International Energy Agency, 2002. Renewable Energy Working Party 2002, IEA, Paris. http://www.energy.anetce.com/2002_iea_renewables54.pdf.
- International Energy Agency, 2007. World Energy Outlook, IEA.
- Ji, Q., & Zhang, D. (2019). How much does financial development contribute to renewable energy growth and upgrading of energy structure in China?. Energy Policy, 128, 114-124.
- Kapaya, S. M. (2021). Financial development and economic growth in Tanzania: an ARDL and bound testing approach. Asian Journal of Economics and Banking, 5(1), 46-65.
- Khan, H., Khan, I., & Binh, T. T. (2020). The heterogeneity of renewable energy consumption, carbon emission and financial development in the globe: a panel quantile regression approach. Energy Reports, 6, 859-867.
- Khan, K. S., Kunz, R., Kleijnen, J., & Antes, G. (2003). Five steps to conducting a systematic review. Journal of the royal society of medicine, 96(3), 118-121.
- King, R. G., & Levine, R. (1993). Finance and Growth: Schumpeter Might Be Right. The Quarterly Journal of Economics, 108(3), 717-737.
- Kutan, A. M., Paramati, S. R., Ummalla, M., & Zakari, A. (2018). Financing renewable energy projects in major emerging market economies: Evidence in the perspective of sustainable economic development. Emerging Markets Finance and Trade, 54(8), 1761-1777.
- Lahiani, A., Mefteh-Wali, S., Shahbaz, M., & Vo, X. V. (2021). Does financial development influence renewable energy consumption to achieve carbon neutrality in the USA? Energy Policy, 158, 112524.
- Le, T. H., Nguyen, C. P., & Park, D. (2020). Financing renewable energy development: Insights from 55 countries. Energy Research & Social Science, 68, 101537.
- Levine, R. (2005). Finance and growth: theory and evidence. Handbook of economic growth, 1, 865-934.
- Lin, B., & Moubarak, M. (2014). Renewable energy consumption–economic growth nexus for China. Renewable and Sustainable Energy Reviews, 40, 111-117.
- Ma, H., Oxley, L., Gibson, J., & Kim, B. (2008). China's energy economy: Technical change, factor demand and interfactor/interfuel substitution. Energy Economics, 30(5), 2167-2183.
- Minier, J. (2009). Opening a stock exchange. Journal of Development Economics, 90(1), 135-143.
- Mukhtarov, S., Yüksel, S., & Dinçer, H. (2022). The impact of financial development on renewable energy consumption: Evidence from Turkey. Renewable Energy, 187, 169-176.
- Nathaniel, S. P., & Iheonu, C. O. (2019). Carbon dioxide abatement in Africa: the role of renewable and non-renewable energy consumption. Science of the Total Environment, 679, 337-345.
- Ocal, O., & Aslan, A. (2013). Renewable energy consumption–economic growth nexus in Turkey. Renewable and sustainable energy reviews, 28, 494-499.
- Papaioannou, D., Sutton, A., & Booth, A. (2016). Systematic approaches to a successful literature review. Systematic approaches to a successful literature review, 1-336.
- Paramati, S. R., Ummalla, M., & Apergis, N. (2016). The effect of foreign direct investment and stock market growth on clean energy use across a panel of emerging market economies. Energy Economics, 56, 29-41.
- Patrick, H. T. (1966). Financial development and economic growth in underdeveloped countries. Economic development and Cultural change, 14(2), 174-189.
- Rajan, R. G., & Zingales, L. (2003). The great reversals: the politics of financial development in the twentieth century. Journal of Financial Economics, 69(1), 5-50.
- Raza, S. A., Shah, N., Qureshi, M. A., Qaiser, S., Ali, R., & Ahmed, F. (2020). Non-linear threshold effect of financial development on renewable energy consumption: evidence from panel smooth transition regression approach. Environmental Science and Pollution Research, 27, 32034-32047.
- Saadaoui, H. (2022). The impact of financial development on renewable energy development in the MENA region: the role of institutional and political factors. Environmental Science and Pollution Research, 29(26), 39461-39472.
- Sadorsky, P. (2010). The impact of financial development on energy consumption in emerging economies. Energy policy, 38(5), 2528-2535.
- Sadorsky, P. (2011). Financial development and energy consumption in Central and Eastern European frontier economies. Energy policy, 39(2), 999-1006.
- Sarwar, A., Khan, M. A., Sarwar, Z., & Khan, W. (2021). Financial development, human capital and its impact on economic growth of emerging countries. Asian Journal of Economics and Banking, 5(1), 86-100.
- Shafiei, S., & Salim, R. A. (2014). Non-renewable and renewable energy consumption and CO2 emissions in OECD countries: a comparative analysis. Energy policy, 66, 547-556.
- Shahbaz, M., Topcu, B. A., Sarıgül, S. S., & Vo, X. V. (2021). The effect of financial development on renewable energy demand: The case of developing countries. Renewable Energy, 178, 1370-1380.
- Shahbaz, M., Van Hoang, T. H., Mahalik, M. K., & Roubaud, D. (2017). Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis. Energy Economics, 63, 199-212.
- Tamazian, A., & Rao, B. B. (2010). Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies. Energy Economics, 32(1), 137-145.
- Tamazian, A., Chousa, J. P., & Vadlamannati, K. C. (2009). Does higher economic and financial development lead to environmental degradation: evidence from BRIC countries. Energy policy, 37(1), 246-253.
- Wang, J., Zhang, S., & Zhang, Q. (2021). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897-904.
- Wu, L., & Broadstock, D. C. (2015). Does economic, financial and institutional development matter for renewable energy consumption? Evidence from emerging economies. International Journal of Economic Policy in Emerging Economies, 8(1), 20-39.
- Yildirim, E., Saraç, Ş., & Aslan, A. (2012). Energy consumption and economic growth in the USA: Evidence from renewable energy. Renewable and Sustainable Energy Reviews, 16(9), 6770-6774.
- Zhuang, J., Gunatilake, H., Niimi, Y., Ehsan Khan, M., Jiang, Y., Hasan, R., . . . & Huang, B. (2009). Financial sector development, economic growth, and poverty reduction: A literature review. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1617022.
Assessing the Impact of Financial Development on Renewable Energy Consumption: An Overview and Conceptual Framework
Abstract:
To date, little attention has been paid to the impact of financial development on renewable energy consumption worldwide. This paper aims to draw different theoretical and empirical perspectives to develop a comprehensive conceptual framework using a systematic review. Based on the literature review, this paper integrates the financial, renewable energy, and consumer and producer sectors into a conceptual framework that describes the interactions among financial development, renewable energy consumption, and economic growth under institutional environment. This conceptual framework contributes to current debates about the impact of financial development on renewable energy consumption.