Effects of globalization and financial inclusion on energy intensity: The case of emerging economies

Syed Anees Haider Zaidi (), Rana Umair Ashraf and Taimoor Hassan

Energy, 2024, vol. 306, issue C

Abstract: This research examines the effects of globalization and financial inclusion on the energy intensity of selected sixteen emerging economies by controlling the effects of economic growth, inflation, and stock market capitalization. The study period covers twenty-two years, starting from 2000 and ending in 2021, providing a complete perspective on the changing dynamics inside these countries. The study employs the novel technique of Method of Moment Quantile Regression (MMQR) to empirically assess the interlinkages between the employed factors on energy intensity. The findings suggest that when economies expand, engage in global trade, and encounter inflationary pressures, they tend to exhibit remarkable changes in energy intensity. The results find negative effects of globalization, GDP, and inflation on energy intensity. In contrast, a positive correlation exists between financial inclusion, stock market capitalization, and energy intensity. Policies must be designed with the objective of harnessing the advantages of globalization in order to enhance energy efficiency, encompassing elements such as technology transfer and regulatory harmonization. Concurrently, it is imperative to establish a sound relationship between financial inclusion and the expansion of stock markets, while also integrating sustainable energy practices.

Keywords: Globalization; Financial inclusion; Energy intensity; Emerging economies (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:306:y:2024:i:c:s0360544224021546

DOI: 10.1016/j.energy.2024.132380

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