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The Dynamic Impact of Environmental Sustainability, Green Finance, and FinTech on Energy Efficiency in Middle Eastern Economies

Author

Listed:
  • Omar Al-Kasasbeh

    (Faculty of Business, Amman Arab University, Jordan)

  • Suhaib Mohammed Al-Khazaleh

    (Faculty of Business, Amman Arab University, Jordan)

  • Ghaith Alsheikh

    (Faculty of Business, Amman Arab University, Jordan)

Abstract

Middle Eastern countries have prioritized energy efficiency in their policy, regarding the adverse environmental consequences of relying heavily on fossil fuels. Over time, their reliance on fossil fuels for energy generation and imports has resulted in a continual rise in greenhouse gas emissions. Nevertheless, Middle Eastern countries possess considerable capacity for renewable energy resources that can be utilized without causing harm to the environment. This study empirically examines the effect of green finance, environmental sustainability, and fin-tech on energy efficiency using panel data from 2012 to 2023 in Middle Eastern countries: Turkey, Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates. The study achieved its aims by employing a range of econometric methodologies. The CIPS and IPS procedures are employed to analyze unit root attributes, while the panel cointegration methodology of Westerlund (2007) is used to examine cointegration. The results indicate that there is cointegration among the variables that were analyzed. The outcomes provide helpful knowledge regarding the development of energy efficiency in Middle Eastern countries.

Suggested Citation

  • Omar Al-Kasasbeh & Suhaib Mohammed Al-Khazaleh & Ghaith Alsheikh, 2024. "The Dynamic Impact of Environmental Sustainability, Green Finance, and FinTech on Energy Efficiency in Middle Eastern Economies," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 574-579, July.
    • Handle: RePEc:eco:journ2:2024-04-52
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    References listed on IDEAS

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    More about this item

    Keywords

    FinTech; Green Finance Westerlund Test; Middle East;
    All these keywords.

    JEL classification:

    • F18 - International Economics - - Trade - - - Trade and Environment
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F1 - International Economics - - Trade

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