ارتباط متقابل انرژی‌های پاک،‌ توسعه سرمایه‌های داخلی و خارجی،‌ رشد اقتصادی و کیفیت محیط زیست در منتخبی از کشورهای در حال توسعه با رویکرد گشتاورهای تعمیم‌یافته سیستمی

شیخ بهایی, آزیتا; دائی کریم زاده, سعید; قبادی, سارا

doi:10.22054/jiee.2021.58918.1827

نوع مقاله : مقاله پژوهشی

نویسندگان

¹ دانشجوی دکتری علوم اقتصادی، دانشگاه آزاد اسلامی، واحد اصفهان (خوراسگان)، اصفهان، ایران.

² دانشیارگروه علوم اقتصادی، دانشگاه آزاد اسلامی، واحد اصفهان (خوراسگان)، اصفهان، ایران

³ استادیار گروه علوم اقتصادی، دانشگاه آزاد اسلامی، واحد اصفهان (خوراسگان)، اصفهان، ایران.

https://doi.org/10.22054/jiee.2021.58918.1827

چکیده

این مطالعه به بررسی ارتباط متقابل انرژی‌های پاک،‌ توسعه سرمایه‌های داخلی و خارجی، ‌رشد اقتصادی و کیفیت محیط زیست در گروهی از کشورهای در حال توسعه طی سال‌های 2018-1995 با کمک سیستم معادلات هم‌زمان و روش گشتاورهای تعمیم‌یافته سیستمی می‌پردازد. به منظور برآورد تأثیر توسعه سرمایه‌های داخلی و خارجی از سه شاخص مختلف سرمایه‌گذاری مستقیم خارجی، بازارهای سهام و اعتبارات تخصیصی به بخش خصوصی استفاده شده است. نتایج نشان می‌دهد افزایش انرژی‌های پاک یک تا دو درصد، انتشار دی‌اکسیدکربن چهاردرصد و افزایش سرمایه‌گذاری مستقیم خارجی یک درصد موجب افزایش رشد اقتصادی در کشورهای مورد بررسی شده است. از سوی دیگر رشد اقتصادی ضمن اینکه مصرف انرژی‌های پاک را به طور متوسط 11درصد افزایش داده، هم‌زمان موجب افزایش انتشار دی‌اکسیدکربن گردیده است. پروژه‌های انرژی‌های پاک نسبت به سایر پروژه‌های تأمین انرژی، دارای بازدهی پایین و تأمین مالی بالا می‌باشند. لذا در کشورهای در حال توسعه به دلیل عدم توسعه‌یافتگی نهادهای مالی و ضعف آنها در دسترسی به سرمایه‌های مورد نیاز برای تأمین مالی پروژه‌های انرژی‌های پاک، استقبال چندانی برای سرمایه‌گذاری در این پروژه‌ها صورت نگرفته تا بتواند موجبات کاهش انتشار دی‌اکسیدکربن را فراهم آورد.

کلیدواژه‌ها

20.1001.1.24235954.1400.10.40.1.4

موضوعات

• مطالعات اقتصادی مرتبط با حامل‌های انرژی (فسیلی، تجدیدپذیر و برق)

عنوان مقاله [English]

The Interrelationship of Clean Energy, Development of Domestic and Foreign Capital, Economic Growth, and Environmental Quality in a Selection of Developing Countries with the Generalized Method of Moments

نویسندگان [English]

azita Sheikhbahaie ¹
saeed Daei-Karimzadeh ²
sara ghobadi ³

¹ PHD Student, Department of Economics, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran.

² (Corresponding author) Associate Professor, Department of Economics, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran

³ Assistant Professor, Department of Economics, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran.

چکیده [English]

This study examines the interrelationships of clean energy, domestic and foreign capital, economic growth, and environmental quality in a group of developing countries during 1995-2018. In this regard, the GMM method has been used. To estimate the impact of domestic and foreign capital development, three different indicators such as foreign direct investment, stock markets, and credits allocated to the private sector have been used. The results show that the increase in clean energy by one to two percent, the emission of carbon dioxide by four, and the increase of foreign direct investment by one percent have increased economic growth. On the other hand, economic growth, while increasing clean energy consumption by an average of 11 percent, has also increased carbon dioxide emissions. Despite the positive mutual relationship between clean energy and economic growth, fossil fuels are still used more in the selected countries. Clean energy projects have lower efficiency and higher financing than other energy supply projects. Therefore, in developing countries, due to a lack of enough capital, few investments are made in these projects.

کلیدواژه‌ها [English]

Capital Development
Clean Energy
Economic Growth

مراجع

Abedi, S, Rahmani Dizgah. M and Zahedian, R. (2014). "The relationship between CO2 emissions, renewable energies, fossil energy and economic growth in Iran, Journal of Economic Research, Volume 46, N. 94, Pages 151-173 (In Persian).

Abu Nouri, A and M. Timuri. (2012). Investigating the effect of financial development on economic growth: a comparison between OECD and UMI countries. Journal of Economic Growth and Development Research, 3rd year, 11th issue, pp. 29-40 (In Persian).

Aghaie, M and Y. Abdi. (2019). ` Financial development and technology development of renewable energies in different sectors: an application of the Tobit panel model, Journal of Economic Research, Volume 54, n. 2, pp. 284-253(In Persian).

Ahmadi, Ali Akbar and Ghaibi, Alireza. (2015). `The effect of financial development on income distribution in selected developing and developed countries with the method of generalized moments`. Journal of Financial Economics, N. 36, pp.15-32 (In Persian).

Almulali, Usama. (2012). The impact of energy consumption and CO2 emission on the economic growth and financial development in the Sub-Saharan African countries. journal of Energy, no. 39(1), pp. 180-186.

Arellano, M. and s. Bond (1991). Some Test of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, Review of Economic Studies, pp. 58-67.

Asadpour, A and Scroochi, E. (2014). `Investigating the relationship between foreign direct investment, clean energy, trade liberalization and economic growth with energy demand in Iran. Journal of Government Management Mission, 4th year, pp. 15-22 (In Persian).

Asgharpour, H, Behbodhi, D. and Mohammadi, R. (2012). The effects of economic development and financial development on environmental quality in selected OPEC member countries. Journal of Iranian Energy Economy, Volume 2, N. 6, pp. 1-26 (In Persian).

Baltagi. BH. (2008). Econometric analysis of panel data. Chichester: John Wiley and Sons Ltd, 4th edition.

Basri, B, Abbasi, I and Kayani, G. (2018). The financial effects of expanding renewable energy on economic growth in Iran, Journal Financial Economics, Year 13, N. 46, Pages. 161-182 (In Persian).

Boutabba, M. A. (2014). The impact of financial development, income, energy and trade on carbon emissions: Evidence from the Indian economy. Econ. Model, no.40, pp.33-41.

Calderon Cesar and Lin Liu (2003). The Direction of Causality Between Financial Development and Economic Growth. Working Papers Central Bank of Chile, no. 184, pp.62-76.

Daly, H. (1977). Steady-State Economics, Island Press.

Dasgupta, S. Laplante, B and N.Maming (2001). Pollution and Capital Markets in Developing Countries. Journal of Environmental Economics and Management, no. 42(3), pp. 310-335.

Diallo, A, Masih, M. (2017). CO2 emissions and financial development: evidence from the United Arab Emirates based on an ARDL approach, MPRA Paper 82054. University Library of Munich, Germany, pp. 224-249.

Frankel, J. and A. Rose (2002). An Estimate of the Effect of Common Currencies on Trade and Income. Quarterly Journal of Economics, no.117(2), pp. 437-466.

Frankel, J. and D. Romer. (1999). Does Trade Cause Growth?. The American Economic Review, no.89(3), pp. 379-399.

Furuoka, Fumitika. (2015). Financial development and energy consumption: Evidence from a heterogeneous panel of Asian countries. Renewable and Sustle Energy Reviews, Vol. 52, pp. 430-444.

Jensen, V. (1996). The Pollution Haven Hypothesis and the Industrial Flight Hypothesis: Some Perspectives on Theory and Empirics. Working paper, Centre for Development and The Environment, University of Oslo, pp. 220-236.

Khan, S and Tahir, M.I. (2014). the Dynamic Links Between Energy Consumption, Economic Growth, Financial Development and Trade in China: Fresh Evidence from Multivariate Framework Analysis. Energy Econ, Vol. 40, pp. 8-21.

King, R. G and R.Levine.(1993).Financial Intermediation and Economic Development, in financial intermediation in the construction of Europe. EdsL Colin Mayer a Xavier, pp.156-189.

Lee, Jung Wan. (2015). The contribution of foreign direct investment to clean energy use, carbon emissions and economic growth. Energy Policy, no. 55, pp. 483-489.

Liu, W. and Hsu, Ch. (2006). The Role of Financial Development in Economic Growth: The Experiences of Taiwan, Korea, and Japan. Journal of Asian Economics, no.17, pp. 667-690.

Matyas, L. and Sevestre, P. (1992). The Econometric Analysis of Panel Data, Handbook of Theory and Application, Dordrecht, Kluwer Academic Press.

Ozturk, I, Acaravci, A. (2010). Co2 emissions, energy consumption and economic growth in turkey. Renewable Sustainable Energy Rev., no. 14 (9), pp. 3220-3225.

Paramati, S.R., Ummalla, M. (2016). The effect of foreign direct investment and stock market growth on clean energy use across a panel of emerging market economies. Energy Economics, no.56, pp. 29-41.

Paramati, S.R., Ummalla, M., Apergis, N. (2017). Financing clean Energy projects through domestic and foreign capital. Energy Economics, no.61, pp. 62-71.

Phong, Le and Sarkodie. S. (2020). Dynamic linkage between renewable and conventional energy use, environmental quality and economic growth: Evidence from Emerging Market and Developing Economies. Journal of Energy Economics, pp. 965-973.

Robinson, J. (1952). The Generalization of the General Theory, in rate of interest and other essays, London: MacMillan.

Sadorsky, P. (2011). Renewable Energy Consumption and Income in Emerging Economies. Energy Policy, no.37(10), pp. 4021-4028.

Sbia, R, Shahbaz, M, Hamdi, H. )2014(. A contribution of foreign direct investment, clean energy, trade openness, carbon emissions and economic growth to energy demand in UAE. Econ. Model, no.36, pp. 191-197.

Sonntag-O’Brien, V. and E. Usher. (2006). Mobilizing Finance for Renewable Energies Thematic Background Paper for International Conference for Renewable Energies, Bonn.

Tahamipour, M and Abedi, S. (2015). Investigating the impact of renewable energy on Iran's real economic growth per capita. Journal of Iranian Energy Economy Research, fifth year, N. 19, pages 53-77 (In Persian).

Tamazian, A. and B. Rao (2010). Do Economic, Financial and Institutional Developments Matter of Environmental Degradation? Evidence from Transitional Economics. Journal of Energy Economics, no.13015,
pp. 1032-1068.

Yuxiang, K and Chen, Z. (2011). Financial development and environmental performance: evidence from China, Environment and Development Economics, Cambridge University Press, vol. 16(1), pp. 93-111.

Zhang, Y.J. (2011). The impact of financial development on carbon emissions: An empirical analysis in China. Energy Policy, no. 39 (4), pp. 2197-2203.[1]

استناد به این مقاله: دایی کریم‌زاده، سعید؛ شیخ‌بهایی، آزیتا؛ قبادی، سارا. (1400). ارتباط متقابل انرژی‌های پاک،‌ توسعه سرمایه‌های داخلی و خارجی،‌ رشد اقتصادی و کیفیت محیط زیست در منتخبی از کشورهای در حال توسعه با رویکرد گشتاورهای تعمیم‌یافته سیستمی، پژوهشنامه اقتصاد انرژی ایران، 40 (10)، 11-37.

Iranian Energy Economics is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

مراجع

مراجع

دوره 10، شماره 40 - شماره پیاپی 4پاییزمهر 1400صفحه 11-37

دوره 10، شماره 40 - شماره پیاپی 4
پاییز
مهر 1400
صفحه 11-37