An Empirical Study On The Impact Of Financial Development On Energy Consumption

Energy consumption is closely related to economic and social development Research on energy consumption has always been a key concern for scholars at home and abroad.After the reform and opening up,my country has entered the later stage of industrialization,and the total energy consumption has increased year by year.In most of the existing studies,most scholars believe that industrialization will inevitably accompany the growth of energy consumption.Industrial factors are indeed the main factors affecting the growth of energy consumption.However,research on the relationship between the level of financial development and energy consumption has also become a hot topic in recent years.More and more scholars believe that financial development is an important factor affecting energy consumption.Scholars are concerned about whether the development level of financial institutions can be controlled to promote energy conservation and emission reduction.This paper uses financial development efficiency to represent the level of financial development and studies the impact of financial development efficiency on energy consumption.At the same time,it considers the impact of factors such as urbanization level,economic level,the proportion of the tertiary industry,population size and temperature on energy consumption.The relationship between financial development,economic level and energy consumption is inseparable.With the development of economy and urbanization,my country’s energy consumption demand continues to increase,and it is also facing resource shortages and environmental pollution.my country ’ s early urbanization is fast,large in scale,and rural population.Mass integration into cities has brought about rapid economic growth in my country.Therefore,energy consumption is inseparable from urbanization and economic and industrial development.This paper uses financial development efficiency as a key explanatory variable to explore its effect on energy consumption.Using the panel data model of the country and the eastern,central and western provinces from 2006 to 2017,the econometric model analyzes financial development and urbanization as well as various influences on energy consumption.The factors affecting the regional heterogeneity of energy consumption.The innovation of this article is that in the existing literature,the research conclusions on the relationship between financial development and energy consumption have not reached a consistent conclusion,and there are few literatures on the impact of financial development on energy consumption structure.This article chooses the efficiency of financial development This variable measures the level of financial development by the efficiency of financial institutions in serving the society,and measures the energy consumption structure by the proportion of coal in total energy consumption,and combines the level of urbanization and economic levels in China to study the impact of financial development on energy consumption and energy consumption by region The role of structure.Through theoretical and empirical analysis,this thesis finds that the efficiency of financial development has regional heterogeneous effects on energy consumption.It has a significant positive impact on energy consumption across the country and in the eastern,central and western regions.From a national perspective,financial development has an impact on energy consumption.Therefore,financial development is an important factor affecting energy consumption.From a regional perspective,the impact of financial development on energy consumption is strongest in the western region,and weaker in the central and eastern regions.This shows that the efficiency of financial development has an impact on energy consumption as the level of economic development increases.The impact of energy consumption is weakening,and the role of finance in influencing energy consumption through the credit sector is strongest in underdeveloped regions.The efficiency of financial development generally promotes the structure of energy consumption.From a regional perspective,the efficiency of financial development has different effects on the structure of energy consumption in different regions,with the largest impact in the central region and less impact in the east and west.Therefore,the research in this article believes that financial development has a key impact on energy consumption.Policies can be formulated to restrict the credit of financial institutions,guide the development of green energy-saving industries,and improve energy consumption structure to slow the rapid growth of energy consumption.In addition,China The land area is vast.The east,middle and west are the three major economic regions in China.There are differences between regions.The state should adapt to local conditions when designating financial policies and energy saving and emission reduction policies,taking into account the differences of various regions,and promoting technological progress and industrial structure.Upgrades can better guide the development and utilization of clean energy in the central and western regions,and formulate energy economic and financial development policies in a differentiated manner.Only in this way can the efficiency of energy conservation and emission reduction be improved,the construction of new urbanization can be promoted,and the goal of green development can be achieved.