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Impact of bank performance on energy consumption: evidence from selected commonwealth member states

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  • Aliya Zhakanova Isiksal
  • Foday Joof

Abstract

This paper aims to determine the effect of bank performance, urbanisation, industrialisation and expansion of the economy on the use of energy by using 'Fully Modified Ordinary Least Square (FMOLS), Dynamic Ordinary Least Square (DOLS) and the Dumitrescu-Hurlin (DH) causality tests', with a panel of 26 nations for the period of 1996-2017. The outcomes revealed that industrialisation, expansion of the economy and bank performance have a positive correlation with the consumption of energy, which infers that an increase in these variables will rise the demand for per capita use of energy. The outcomes indicate that an upsurge in urbanisation will result in a decrease in energy use. Furthermore, we found that industrialisation, urbanisation, expansion of the economy and bank performance have a two-way causal association with the consumption of energy. This finding can serve as a guide to policy makers with regard to the use of more sophisticated technology in reducing the effects of bank performance (ROA), industrialisation and other economic activities on energy use; hence, high-energy consumption can lead to increased CO2 emission, which, if not properly managed, can result in environmental degradation and pollution. Thus, urbanisation should be encouraged because increased urban concentration declines energy use, which results in a decrease in the risk of pollution.

Suggested Citation

  • Aliya Zhakanova Isiksal & Foday Joof, 2021. "Impact of bank performance on energy consumption: evidence from selected commonwealth member states," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 43(4), pages 402-418.
    • Handle: RePEc:ids:ijgeni:v:43:y:2021:i:4:p:402-418
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    Citations

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    Cited by:

    1. Joof, Foday & Samour, Ahmed & Ali, Mumtaz & Tursoy, Turgut & Haseeb, Mohammad & Hossain, Md. Emran & Kamal, Mustafa, 2023. "Symmetric and asymmetric effects of gold, and oil price on environment: The role of clean energy in China," Resources Policy, Elsevier, vol. 81(C).
    2. Ali, Mumtaz & Joof, Foday & Samour, Ahmed & Tursoy, Turgut & Balsalobre-Lorente, Daniel & Radulescu, Magdalena, 2023. "Testing the impacts of renewable energy, natural resources rent, and technological innovation on the ecological footprint in the USA: Evidence from Bootstrapping ARDL," Resources Policy, Elsevier, vol. 86(PA).
    3. Peterson K. Ozili, 2024. "Does banking sector support for achieving the sustainable development goals affect bank loan loss provisions? International evidence," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-39, April.
    4. Magdalena Radulescu & Daniel Balsalobre-Lorente & Foday Joof & Ahmed Samour & Turgut Türsoy, 2022. "Exploring the Impacts of Banking Development, and Renewable Energy on Ecological Footprint in OECD: New Evidence from Method of Moments Quantile Regression," Energies, MDPI, vol. 15(24), pages 1-14, December.
    5. Joof, Foday, 2021. "The Co-Movement between Foreign Reserves, Economic Growth and Money Supply: Evidence from the WAMZ Countries," MPRA Paper 110193, University Library of Munich, Germany.

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