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Energy consumption, financial development, CO2 emissions, and economic growth in 23 developing economies

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  • Miguel Á. Tinoco-Zermeño

    (Universidad de Colima, México)

Abstract

Este estudio examina el nexo entre consumo de energía, emisiones de CO2, desarrollo financiero y crecimiento económico en 23 países en desarrollo. El enfoque econométrico se basa en la causalidad bivariada de Granger y estimación GMM de la causalidad P-VAR de Granger con efectos fijos. Nuestro estudio es probablemente el primero en estimar conjuntamente las relaciones entre variables financieras (crédito bancario y pasivos líquidos), energéticas (consumo de energía primaria y de electricidad), ambientales (emisiones de CO2) y económicas (PIB y tasas de inflación) en economías subdesarrolladas durante 2001-2019. Los resultados confirman una causalidad bidireccional entre desarrollo financiero y CO2, desarrollo financiero y PIB, y consumo de energía y CO2; y unidireccional de desarrollo financiero a consumo de energía y electricidad a CO2. No encontramos evidencia de una relación entre PIB y energía o CO2. Por falta de datos, no pudimos complementar nuestro análisis con pruebas adicionales, lo que enriquecería los resultados. Esta investigación puede guiar a los tomadores de decisiones en el diseño de políticas para reducir la contaminación, mejorar el uso de energía y promover el desarrollo financiero.

Suggested Citation

  • Miguel Á. Tinoco-Zermeño, 2023. "Energy consumption, financial development, CO2 emissions, and economic growth in 23 developing economies," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 18(1), pages 1-24, Enero - M.
    • Handle: RePEc:imx:journl:v:18:y:2023:i:1:a:2
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    More about this item

    Keywords

    Desarrollo financiero; energía; crecimiento; emisiones de CO2; países en desarrollo;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • 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

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