The effect of solar energy production on financial development and economic growth: Evidence from 11 selected countries

IF 3.1 4区工程技术 Q3 ENERGY & FUELS Energy Sources Part B-Economics Planning and Policy Pub Date : 2022-11-02 DOI:10.1080/15567249.2022.2141377

Betül Altay Topcu, M. Doğan

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引用次数: 6

Abstract

ABSTRACT The aim of this study was to investigate the impact of solar energy production on financial development and economic growth in 11 leading countries in solar energy production over the period 2000–2019. The results of the analysis indicated that solar energy production had a positive and significant impact on financial development, however, not on economic growth. It was found that the impacts of capital and direct investment variables on financial development and economic growth were positive and significant. According to Dumitrescu-Hurlin’s causality test results, a bidirectional causality relationship was determined to exist between solar energy production and financial development. Furthermore, a unidirectional causality relationship running from economic growth to solar energy production was detected. In this context, the analysis results confirmed the conservation hypothesis. The results could be a guide on solar energy production policies. By considering the impacts of solar energy production on financial development and economic growth, more effective policy decisions could be made.

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太阳能生产对金融发展和经济增长的影响:来自11个选定国家的证据

本研究的目的是研究2000-2019年期间太阳能生产对11个太阳能生产大国金融发展和经济增长的影响。分析结果表明，太阳能生产对金融发展有显著的积极影响，但对经济增长没有积极影响。研究发现，资本和直接投资变量对金融发展和经济增长的影响是显著的。根据dumitrescuo - hurlin的因果检验结果，确定太阳能生产与金融发展之间存在双向因果关系。此外，从经济增长到太阳能生产的单向因果关系被发现。在这种情况下，分析结果证实了守恒假设。研究结果可以作为太阳能生产政策的指南。通过考虑太阳能生产对金融发展和经济增长的影响，可以制定更有效的政策决策。

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来源期刊

Energy Sources Part B-Economics Planning and Policy ENERGY & FUELS-

CiteScore

6.80

自引率

12.80%

发文量

审稿时长

6-12 weeks

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