The Impact Of Energy Consumption On Economic Growth Under The Role Of Financial Development

Economic growth is an important mission of economics discipline research.Maintaining long-term stable growth is the goal we are pursuing.However,the new normal is the historical period in which the Chinese economy is now.High-speed economic growth no longer exists.Obviously,the development of the financial industry in the tertiary industry has contributed more and more to GDP growth.This has also attracted the attention and research of the academic community.Some studies believe that financial development and energy consumption can promote economic growth;while others believe that the economic regression should be blamed on financial development and energy consumption,of which financial development and energy consumption The relationship between them is often overlooked.So whether my country's energy consumption can make a positive contribution to economic growth,and whether financial development can contribute to this positive impact,the relationship between financial development and energy consumption needs further discussion.This paper selects panel data of 29 provinces in China from 1995 to 2016 based on the PVAR model.Under the effect of financial development,how does energy consumption affect economic growth? Due to the strong regional differences in China's development,and the accuracy of the measurement of the agency variables of the research objects,a robustness test was conducted from three perspectives,which were divided into four economic regions for research and adjustment of financial development agencies.Variables and proxy variables for adjusting economic growth to enhance the persuasiveness of the conclusions.Empirical results show that both financial development and energy consumption can promote economic growth,and financial development can strengthen this role.The research in this paper expands the research results of academia,and also provides suggestions for new trends in economic development,as well as ideas for the close connection and coordinated development of financial development and the energy industry.