Journal
ENERGY
Volume 171, Issue -, Pages 456-464Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.energy.2018.12.200
Keywords
Financial development; Trade openness; Technological innovation; Energy intensity; Contemporaneous causality; Directed acyclic graph
Categories
Funding
- Major Projects in Philosophy and Social Science Research from the Ministry of Education of China [14JZD031]
- National Natural Science Foundation of China [71303029, 71471001, 71734001]
- National Social Science Foundation Project [17BGL266]
- Liaoning Provincial Economic and Social Development Project [2019lsIktyb-011]
- Fundamental Research Funds for the Central Universities [DUT18RW210]
Ask authors/readers for more resources
Using annual time series data for the period 1976 to 2014, this study attempts to empirically examine the contemporaneous causal linkages among financial development, trade openness, technological innovation and energy intensity in Bangladesh. Directed acyclic graphs (DAG) technique and structural vector autoregression (SVAR) model are applied to yield inference on the dynamic causal relationships among the variables. The DAG results confirm that financial development, trade openness, economic growth and technological innovation influence energy intensity where financial development, trade openness and technological innovation have influence on economic growth. The results of forecast error variance decomposition from SVAR model verify the fact that economic growth has greater impact on energy intensity in short-run, but with the extension of forecast period, the promotion effect of it gradually decreases. On the other hand, the promotion effect of trade openness on energy intensity gradually increases over time and become highest in long-run. Technological innovation also plays an important role in promoting energy intensity where it is influenced by financial development and trade openness. (C) 2019 Elsevier Ltd. All rights reserved.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available