Financial development-energy consumption risk nexus

Currently, examining contribution of financial enhancement in achieving energy efficiency as well as mitigating uncertainties of energy consumption is gaining interest in the literature.Regarding this matter, this research tests the role of financial development on energy consumption risk in a global case applying the panel of 137 countries over the period 2000-2022.For the empirical analysis, Method of Moments Quantile Regression (MMQR), Fully Modified Ordinary Least Squares (FMOLS) and Canonical Cointegrating Regression (CCR) are used along with the second-generation unit root and cointegration tests.The findings reveal that growth of the financial sector impacts energy 15 MANUÁL VYSOKÉ ŠKOLY EKONOMICKÉ V PRAZE Nejlépe znak vynikne na bílé podkladové ploše, která je také při aplikaci znaku preferována.Správný způsob aplikace znaku je definován pravidly uvedenými v tomto manuálu a je zakázáno ho aplikovat v rozporu s ním.

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