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On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China

Lei WangBusiness School, Guilin University of Electronic Technology, Guilin, Guangxi, Chinaİlhan ÖztürkDepartment of Medical Research, China Medical University Hospital, China Medical University, Taichung, TaiwanMuhammad HafeezFaculty of Management and Administrative Sciences (FMAS), University of Sialkot, Sialkot, PakistanSana UllahSchool of Economics, Quaid-i-Azam University, Islamabad, Pakistan

2021en

ABI

Annotatsiya

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.

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Identifikatorlar

DOI: 10.1080/1331677x.2021.2007413

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