Does financial development promote renewable energy consumption in the USA? Evidence from the Fourier-wavelet quantile causality test

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dc.authoridYilanci, Veli/0000-0001-5738-690X
dc.authoridShah, Syed Ale Raza/0000-0002-5842-3298
dc.contributor.authorPata, Ugur Korkut
dc.contributor.authorYilanci, Veli
dc.contributor.authorZhang, Qianxiao
dc.contributor.authorShah, Syed Ale Raza
dc.date.accessioned2025-01-27T20:14:23Z
dc.date.available2025-01-27T20:14:23Z
dc.date.issued2022
dc.departmentÇanakkale Onsekiz Mart Üniversitesi
dc.description.abstractTo achieve environmental sustainability, it is important to change the energy pattern from dirty fossil fuels to renewable-clean energy sources. For this transition, countries should use their financial re-sources effectively and efficiently. Against this background, this study aims to examine the impact of financial development on renewable energy consumption in the United States over the period 1980-2019, considering urbanization, economic structure, and economic growth as control variables. The study contributes to the existing literature by testing the effect of six sub-indicators, namely efficiency, depth, and accessibility of financial markets and institutions on renewable energy consumption. This is done using the novel Fourier quantile causality test with wavelet transforms. The empirical results show that financial development encourages renewable energy consumption at high quantiles in the medium -and long-run. Moreover, depth and access to financial markets are the two most important factors that promote renewable energy consumption. Based on the overall findings, the study suggests that the United States government should adopt policies that improve the depth and access to financial markets rather than financial institutions to support green growth. (c) 2022 Elsevier Ltd. All rights reserved.
dc.identifier.doi10.1016/j.renene.2022.07.008
dc.identifier.endpage443
dc.identifier.issn0960-1481
dc.identifier.issn1879-0682
dc.identifier.scopus2-s2.0-85134181524
dc.identifier.scopusqualityQ1
dc.identifier.startpage432
dc.identifier.urihttps://doi.org/10.1016/j.renene.2022.07.008
dc.identifier.urihttps://hdl.handle.net/20.500.12428/21073
dc.identifier.volume196
dc.identifier.wosWOS:000830901700009
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherPergamon-Elsevier Science Ltd
dc.relation.ispartofRenewable Energy
dc.relation.publicationcategoryinfo:eu-repo/semantics/openAccess
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WoS_20250125
dc.subjectFourier approximation
dc.subjectWavelets
dc.subjectQuantile causality
dc.subjectUnited States
dc.subjectFinancial development
dc.subjectRenewable energy consumption
dc.titleDoes financial development promote renewable energy consumption in the USA? Evidence from the Fourier-wavelet quantile causality test
dc.typeArticle

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