Abstract
The primary concern of this research work is to explore the non-linear link between energy disparity and financial development in the light of EKC framework for Asia. An Entropy approach is used to quantify the energy disparities. It infers that East and Central Asia have highest, and lowest mean total energy disparity in Asia respectively. The results from DK regression signify the U-shape EKC with respect to energy disparity-financial development, between regions energy disparity-financial development, and total energy disparity-financial development in Asia respectively while a monotonically decreasing energy disparity-financial development EKC in East Asia. Therefore, financial development is an effective tool to reduce energy disparity in Asia.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
East Asian; China and Mongolia, Central Asian: Kazakhstan, Kyrgyz Republic, and Tajikistan, South Asian: Bangladesh, India, Nepal, Pakistan, and Sri Lanka, Southeast Asian; Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
References
World Bank: World development indicators (WDI) (2017)
Ahmed, Z., Wang, Z., et al.: Does globalization increase the ecological footprint? Empirical evidence from Malaysia. Environ. Sci. Pollut. Res. 26(18), 18565–18582 (2019)
Conti, J.J., Holtberg, P.D., et al.: Annual energy outlook (2017)
Hafeez, M., Chunhui, Y., et al.: Does finance affect environmental degradation: evidence from one belt and one road initiative region? Environ. Sci. Pollut. Res. 25(10), 9579–9592 (2018)
Hafeez, M., Yuan, C., et al.: Evaluating the energy consumption inequalities in the one belt and one road region: implications for the environment. Energies 12(7), 1358 (2019)
Hafeez, M., Yuan, C., et al.: An empirical evaluation of financial development-carbon footprint nexus in one belt and road region. Environ. Sci. Pollut. Res. 26(24), 25026–25036 (2019)
Hafeez, M., Yuan, C., et al.: A global prospective of environmental degradations: economy and finance. Environ. Sci. Pollut. Res. 26(25), 25898–25915 (2019)
Iqbal, K., Peng, H., et al.: Empirically analyzing the future intentions of Pakistani students to stay or leave: evidence from china. In: International Conference on Management Science and Engineering Management, pp. 759–769. Springer (2019)
Islam, F., Shahbaz, M., et al.: Financial development and energy consumption nexus in Malaysia: a multivariate time series analysis. Econ. Modell. 30, 435–441 (2013)
Kahouli, B.: The short and long run causality relationship among economic growth, energy consumption and financial development: evidence from South Mediterranean Countries (SMCS). Energy Econ. 68, 19–30 (2017)
Liu, J., Yuan, C., et al.: The relationship between environment and logistics performance: evidence from Asian countries. J. Clean. Prod. 204, 282–291 (2018)
Liu, J., Yuan, C., et al.: ISO 14001 certification in developing countries: motivations from trade and environment. J. Environ. Plann. Manage. 1–25 (2019)
Rauf, A., Liu, X., et al.: Testing ekc hypothesis with energy and sustainable development challenges: a fresh evidence from belt and road initiative economies. Environ. Sci. Pollut. Res. 25(32), 32066–32080 (2018)
Razika, M., Yang, Q., Hafeez, M.: Evaluating the global product development challenges through social commerce. In: International Conference on Management Science and Engineering Management, pp. 783–793. Springer (2019)
Sadorsky, P.: Financial development and energy consumption in central and eastern European frontier economies. Energy Policy 39(2), 999–1006 (2011)
Shahbaz, M., Hye, Q.M.A., et al.: Economic growth, energy consumption, financial development, international trade and \(\rm CO_2\) emissions in Indonesia. Renew. Sustain. Energy Rev. 25, 109–121 (2013)
Shaheen, A., Sheng, J., et al.: The dynamic linkage between income, energy consumption, urbanization and carbon emissions in Pakistan. Polish J. Environ. Stud. 29(1) (2020)
Yasmeen, R., Li, Y., et al.: The trade-environment nexus in light of governance: a global potential. Environ. Sci. Pollut. Res. 25(34), 34360–34379 (2018)
Yuelan, P., Akbar, M.W., et al.: The nexus of fiscal policy instruments and environmental degradation in China. Environ. Sci. Pollut. Res. 26(28), 28919–28932 (2019)
Ziaei, S.M.: Effects of financial development indicators on energy consumption and CO2 emission of European, East Asian and Oceania countries. Renew. Sustain. Energy Rev. 42, 752–759 (2015)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Li, Y., Peng, H., Hafeez, M., Ahmad, H. (2021). Assessment of Energy Disparity and Financial Development Nexus in Environmental Kuznets Curve Framework. In: Xu, J., Duca, G., Ahmed, S., García Márquez, F., Hajiyev, A. (eds) Proceedings of the Fourteenth International Conference on Management Science and Engineering Management. ICMSEM 2020. Advances in Intelligent Systems and Computing, vol 1191. Springer, Cham. https://doi.org/10.1007/978-3-030-49889-4_48
Download citation
DOI: https://doi.org/10.1007/978-3-030-49889-4_48
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-49888-7
Online ISBN: 978-3-030-49889-4
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)