撒哈拉以南非洲的金融部门发展与能源消费:制度治理重要吗?动态面板数据分析

IF 1.3 Q3 ECONOMICS
Paul Ndubuisi, K. Okere, E. Iheanacho
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引用次数: 4

摘要

能源经济学家和规划者未能理解驱动能源使用的金融和机构质量领域的动态和范式转变,这被归咎于持续的能源消耗担忧。因此,本研究通过考察金融-可再生能源消费和机构-可再生能源消费之间的关系,重新审视并为资源库做出贡献。本文提出的研究问题是:治理指标是否能够调节金融对可再生能源消费的影响?利用2010 - 2020年撒哈拉以南非洲46个国家的面板数据集,利用政治稳定性、话语权和问责制、政府有效性和治理监管质量指标,研究结果表明:(1)金融发展对可再生能源消费和强度有显著的正向影响,但影响程度较弱(即在10%的显著水平上)。(二)治理指标显著拖累可再生能源消费和强度。(三)金融发展与治理指标之间的消极相互作用足以恶化撒哈拉以南非洲金融与可再生能源之间的薄弱关系。(四)治理门槛削弱了金融发展对可再生能源消费和强度的微弱正效应,在某些情况下导致负协同效应;(五)治理指标对金融的调节效应的净效应在不同的模型规范中存在显著差异。考虑到关键变量之间的弱关联,该研究证明了撒哈拉以南非洲地区金融和制度框架的不发达性质。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Financial Sector Development and Energy Consumption in Sub-Saharan Africa: Does Institutional Governance Matter? Dynamic Panel Data Analysis
The failure of energy economists and planners to comprehend the dynamics and paradigm shift in the finance and institutional quality domain that drive energy use is blamed for the ongoing energy consumption concerns. Consequently, this study revisits and contributes to repositories by examining the relationship between finance-renewable energy consumption and institution-renewable energy consumption. The research question raised is: Do governance indicators moderate the impact of finance on renewable energy consumption? With panel dataset of 46 countries in sub-Saharan Africa spanning from 2010 to 2020 and using political stability, voice and accountability, government effectiveness, and regulatory quality indicators of governance, the research output is as follows: (i) Financial development exerts a significant positive impact on renewable energy consumption and intensity, but the level of impact is weak (i.e., at a 10% level significant). (ii) The governance indicators significantly drag renewable energy consumption and intensity. (iii) The negative interaction between financial development and governance indicators is sufficient to worsen the weak relationship between finance and renewable energy in sub-Saharan Africa. (iv) Governance threshold eroded the weak positive effect of financial development on renewable energy consumption and intensity, leading to negative synergy effect in some cases, and (v) The net effect from the moderating impact of governance indicators on finance is significantly different across model specification. The study demonstrates the undeveloped nature of finance and institutional framework in sub-Saharan Africa, considering the weak association between the key variables.
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来源期刊
CiteScore
1.50
自引率
0.00%
发文量
18
期刊介绍: Journal of International Commerce, Economics and Policy (JICEP) is a peer-reviewed journal that seeks to publish high-quality research papers that explore important dimensions of the global economic system (including trade, finance, investment and labor flows). JICEP is particularly interested in potentially influential research that is analytical or empirical but with heavy emphasis on international dimensions of economics, business and related public policy. Papers must aim to be thought-provoking and combine rigor with readability so as to be of interest to both researchers as well as policymakers. JICEP is not region-specific and especially welcomes research exploring the growing economic interdependence between countries and regions.
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