Energy, Economic Growth, and Financial Development in ASEAN+3

Signifikan Pub Date : 2020-02-08 DOI:10.15408/sjie.v9i1.13536

Kartika Pramahesti, D. Hartono

{"title":"Energy, Economic Growth, and Financial Development in ASEAN+3","authors":"Kartika Pramahesti, D. Hartono","doi":"10.15408/sjie.v9i1.13536","DOIUrl":null,"url":null,"abstract":"This research aimed to determine the effects of financial development on the consumption of energy through the economic growth channels in ASEAN+3 in 1990 – 2013. Whether or not the financial development affected the energy consumption directly is still unclear, depending on how the efficiency of economic development takes place. The present research tried to complete the slit by evaluating the indirect effects of financial development through economic growth. The GMM method was applied to solve the endogenic problem of the simultaneous equation, resulting in an unbiased and consistent estimator. There was significant positive leverage of both the economic development and urbanization on the utilization of energy, while the cost of energy adversely affected its utilization. Also, there was a significant positive effect of financial growth in banking and share market on the utilization of energy, where the effect of the banking sector was stronger than that of the share market. JEL Classification : O13, O57, Q43 How to Cite: Pramahesti, K., & Hartono, D. (2020). Energy, Economic Growth, and Financial Development in ASEAN+3. Signifikan: Jurnal Ilmu Ekonomi , Vol. 9(1), 137-152. doi: http://dx.doi.org/10.15408/sjie.v9i1.13536","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"9 1","pages":"137-152"},"PeriodicalIF":0.0000,"publicationDate":"2020-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Signifikan","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15408/sjie.v9i1.13536","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 2

Abstract

This research aimed to determine the effects of financial development on the consumption of energy through the economic growth channels in ASEAN+3 in 1990 – 2013. Whether or not the financial development affected the energy consumption directly is still unclear, depending on how the efficiency of economic development takes place. The present research tried to complete the slit by evaluating the indirect effects of financial development through economic growth. The GMM method was applied to solve the endogenic problem of the simultaneous equation, resulting in an unbiased and consistent estimator. There was significant positive leverage of both the economic development and urbanization on the utilization of energy, while the cost of energy adversely affected its utilization. Also, there was a significant positive effect of financial growth in banking and share market on the utilization of energy, where the effect of the banking sector was stronger than that of the share market. JEL Classification : O13, O57, Q43 How to Cite: Pramahesti, K., & Hartono, D. (2020). Energy, Economic Growth, and Financial Development in ASEAN+3. Signifikan: Jurnal Ilmu Ekonomi , Vol. 9(1), 137-152. doi: http://dx.doi.org/10.15408/sjie.v9i1.13536

查看原文本刊更多论文

东盟与中日韩的能源、经济增长和金融发展

本研究旨在通过经济增长渠道确定1990 - 2013年东盟+3金融发展对能源消费的影响。金融发展是否直接影响能源消费还不清楚，这取决于经济发展的效率如何发生。本研究试图通过评估金融发展通过经济增长的间接效应来完成这一裂隙。将GMM方法应用于求解联立方程的内生问题，得到了一个无偏一致的估计量。经济发展和城市化对能源利用都有显著的正杠杆作用，而能源成本对能源利用有不利影响。此外，银行和股票市场的金融增长对能源利用具有显著的正向影响，其中银行部门的影响强于股票市场。JEL分类:O13, O57, Q43如何引用:Pramahesti, K.， & Hartono, D.(2020)。东盟与中日韩的能源、经济增长和金融发展意义:《经济学刊》，第9卷(1)，137-152。doi: http://dx.doi.org/10.15408/sjie.v9i1.13536

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Signifikan

自引率

0.00%

发文量

审稿时长

8 weeks