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| A Study on the Dynamic Relationship among Economic Growth, Energy Consumption and Credit Availability: Empirical Analysis of Provincial PanelBased on the Carbon Emission Intensity Grouping |
| XING Yi
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School of Finance,Dongbei University of Finance & Economics;
Taiyuan Central Branch, People’s Bank of China |
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Abstract Based on the grouping ideas of carbon intensity, this paper respectively established economic growth-energy consumption-credit availability panel VAR model in the areas of high-carbon development and the areas of low-carbon development. By using the impulse response, variance decomposition and granger causality test, we compared and analyzed the relationship between the above three and drew the following conclusions. Firstly, there are significant regional differences in the relationships among the economic growth, the energy consumption and the credit availability, which exist in the areas of high-carbon development and the areas of low-carbon development. Secondly, the credit availability and energy consumption have the remarkable promotion to economic growth in the areas of low-carbon development. It’s a really effect of financial accelerator on economic growth, but it isn’t significant in the areas of high-carbon development. Thirdly, the credit availability is the Granger reason for energy consumption. It indicates that the financial institutions perform the national industrial policies and monetary policies very well, and it reduces the intensity of energy consumption.
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Received: 04 December 2014
Published: 19 April 2018
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| Cite this article: |
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XING Yi. A Study on the Dynamic Relationship among Economic Growth, Energy Consumption and Credit Availability: Empirical Analysis of Provincial PanelBased on the Carbon Emission Intensity Grouping[J]. Journal of Financial Research,
2015, 426(12): 17-31.
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| URL: |
| http://www.jryj.org.cn/EN/ OR http://www.jryj.org.cn/EN/Y2015/V426/I12/17 |
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