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首页> 外文期刊>Financial Innovation >Degree of financialization and energy efficiency in Sub-Saharan Africa: do institutions matter?
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Degree of financialization and energy efficiency in Sub-Saharan Africa: do institutions matter?

机译：撒哈拉以南非洲的金融化和能源效率的程度：机构重要吗？

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The United Nations Sustainable Development Goal 7 emphasizes the need for economies around the world to double their efforts in energy efficiency improvements. This is because improvements in energy efficiency can trigger economic growth and considered as one of the ‘green’ growth strategies due to its carbon free content. To this end, some empirical studies have investigated the nexus between economic growth and energy efficiency, but the effects of the latter on financial indicators have not been sufficiently studied in the literature, at least in developing economies like Africa. This study examines the effect of energy efficiency improvements on commercial bank profitability under different political regimes (i.e., autocratic and democratic political regimes); something previous literature had neglected. The study uses panel data, consisting of 43 African countries and the simultaneous System Generalized Method of Moments. We found that energy efficiency improvement is more likely to induce higher bank profitability in political institutions with the characteristics of centralization of power compared with those with decentralization of power. Furthermore, for the banking sector, the findings suggest that energy utilization behavior of clients should be included in the loan or credit valuation process. For the government, the agenda of energy efficiency should be aggressively pursued while taking cognizance of creating a political environment that weans itself from a ‘grandfathering’ behavior.
机译：联合国可持续发展目标7强调了世界各地经济的需求，以使其在能源效率改进中的努力。这是因为能效的改善可以引发经济增长，并被视为由于其无碳含量导致的“绿色”的增长策略之一。为此，一些实证研究已经调查了经济增长和能源效率之间的Nexus，但在文献中，后者对金融指标的影响，至少在非洲发展中的发展中没有得到充分研究。本研究探讨了能源效率改善在不同政治制度下商业银行盈利能力的影响（即，专制和民主政治制度）;以前的文学忽略了一些东西。该研究使用面板数据，由43个非洲国家和同时系统的时刻的广义方法组成。我们发现，与权力权力分散的人相比，能效改善更有可能在政治机构中诱发更高的银行盈利能力。此外，对于银行业，调查结果表明，客户的能源利用行为应包括在贷款或信贷估值过程中。对于政府来说，应积极追求能源效率议程，同时认识到创造一个政治环境，从“祖父”行为中。

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