Top

Economic Change and Restructuring

Published in:

01-04-2024

Greening the bottom line: navigating legal and financial dimensions of energy digital transition in the modern economy

Authors: Xiangyi Xu, Qianrong Wang

Published in: Economic Change and Restructuring | Issue 2/2024

Activate our intelligent search to find suitable subject content or patents.

search-config

AI-assisted search

Off

Abstract

The notion of energy digital transformation, considered a groundbreaking and sustainable paradigm, has ignited scholarly debates. This study, covering the period from 2000 to 2021, delves into the intricate interplay among legal efficiency, financial development, and energy digital transformation. Employing the dynamic GMM (Generalized Method of Moments) approach, the research reveals compelling insights. A 1% increase in the good governance index corresponds to an approximate 0.57% rise in the volume of smart grid imports. Similarly, a 1% increase in the financial development index is associated with an approximate 0.26% increase in smart grid imports. Furthermore, a 1% increase in gross domestic product correlates with an approximate 0.17% growth in smart grid imports. Conversely, a 1% increase in energy intensity leads to a nearly 0.14% decrease in smart grid imports. The policy implications derived from this study emphasize the importance of directing funds toward smart grid and renewable energy projects.

previous article How is energy transition shaping a path to common prosperity and sustainable economic growth?

next article How does the green development program promote rural economy: energy and environmental effects in rural development of China

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Ali K, Jianguo D, Kirikkaleli D (2023) How do energy resources and financial development cause environmental sustainability? Energy Rep 9:4036–4048CrossRef

Arellano M, Bond SR (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Rev Econom Stud 58:277–297CrossRef

Ding Q, Huang J, Zhang H (2022) Time-frequency spillovers among carbon, fossil energy and clean energy markets: the effects of attention to climate change. Int Rev Financ Anal 83:102222. https://doi.org/10.1016/j.irfa.2022.102222CrossRef

Huhta K (2022) The contribution of energy law to the energy transition and energy research. Glob Environ Change 73:102454. https://doi.org/10.1016/j.gloenvcha.2021.102454CrossRef

Hunjra A, Azam M, Bruna M, Taskin D (2022) Role of financial development for sustainable economic development in low middle income countries. Financ Res Lett 47:102793. https://doi.org/10.1016/j.frl.2022.102793CrossRef

Li G, Wu H, Jiang J, Zong Q (2023) Digital finance and the low-carbon energy transition (LCET) from the perspective of capital-biased technical progress. Energy Econ 120:106623. https://doi.org/10.1016/j.eneco.2023.106623CrossRef

Long H, Huang X, Wang J (2023) How does energy finance promote energy transition? Evidence from Shanghai crude oil futures. Int Rev Financ Anal 90:102877. https://doi.org/10.1016/j.irfa.2023.102877CrossRef

Manchalwar A, Patne N, Pemmada S, Panigrahi R, Morey C (2023) Decentralized peer-to-peer model of energy trading in smart grid considering price differentiation. Energy Rep 9(10):728–736CrossRef

Moniruzzaman M, Yassine A, Benlamri R (2023) Blockchain and cooperative game theory for peer-to-peer energy trading in smart grids. Int J Electr Power Energy Syst 151:109111. https://doi.org/10.1016/j.ijepes.2023.109111CrossRef

Mostaghimi N, Rasoulinezhad E (2022) Energy Transition and environmental sustainability in Iran: pros and cons through SWOT analysis approach. J Environ Assess Policy Manag 24(04):2350002. https://doi.org/10.1142/S1464333223500023CrossRef

Pena L, Guo R, Cao X, Ni X, Zhang W (2022) Accelerating the energy transition to achieve carbon neutrality. Resour Conserv Recycl 177:105957. https://doi.org/10.1016/j.resconrec.2021.105957CrossRef

Qin Y, Xu Z, Wang X, Skare M (2023) The effects of financial institutions on the green energy transition: a cross-sectional panel study. Econ Anal Policy 78:524–542CrossRef

Rasoulinezhad E (2020) Environmental impact assessment analysis in the Kahak’s wind farm. JEAPM 22(01):2250006. https://doi.org/10.1142/S1464333222500065CrossRef

Rasoulinezhad E, Ghomi N (2022) How can financial development affect sustainable economic Development? Evidence from Asian countries with different income levels. Iran Econ Rev. https://doi.org/10.22059/IER.2022.88397CrossRef

Rasoulinezhad E, Taghizadeh-Hesary F (2022) Role of green finance in improving energy efficiency and renewable energy development. Energy Effic 15(2):14CrossRef

Razzaq A, Sharif A, Ozturk I, Afshan S (2023) Dynamic and threshold effects of energy transition and environmental governance on green growth in COP26 framework. Renew Sustain Energy Rev 179:113296. https://doi.org/10.1016/j.rser.2023.113296CrossRef

Shahbaz M, Wang J, Dong K, Zhao J (2022) The impact of digital economy on energy transition across the globe: the mediating role of government governance. Renew Sustain Energy Rev 166:112620. https://doi.org/10.1016/j.rser.2022.112620CrossRef

Si Y, Desai D, Bozilova D, Puffer S, Stephens J (2023) Fossil fuel companies’ climate communication strategies: Industry messaging on renewables and natural gas. Energy Res Soc Sci 98:103028. https://doi.org/10.1016/j.erss.2023.103028CrossRef

Suthar S, Cherukuri S, Pindoriya N (2023) Peer-to-peer energy trading in smart grid: frameworks, implementation methodologies ,and demonstration projects. Electr Power Syst Res 214(A):108907. https://doi.org/10.1016/j.epsr.2022.108907CrossRef

Taghizadeh-Hesary F, Rasoulinezhad E, Shahbaz M, Vo X (2021) How energy transition and power consumption are related in Asian economies with different income levels? Energy 237:121595. https://doi.org/10.1016/j.energy.2021.121595CrossRef

Tu C, Rasoulinezhad E, Sarker T (2020) Investigating solutions for the development of a green bond market: evidence from analytic hierarchy process. Financ Res Lett 34:101457CrossRef

Tumala M, Salisu A, Nmadu Y (2023) Climate change and fossil fuel prices: a GARCH-MIDAS analysis. Energy Econ 124:106792. https://doi.org/10.1016/j.eneco.2023.106792CrossRef

Wahlund M, Palm J (2022) The role of energy democracy and energy citizenship for participatory energy transitions: a comprehensive review. Energy Res Soc Sci 87:102482. https://doi.org/10.1016/j.erss.2021.102482CrossRef

Wei C, Li C, Loschel A, Managi S, Lundgren T (2023) Digital technology and energy sustainability: recent advances, challenges, and opportunities. Resour Conserv Recycl 190:106803. https://doi.org/10.1016/j.resconrec.2022.106803CrossRef

Xu S, Zhang Y, Chen L, Leong L, Muda I, Ali A (2023) How fintech and effective governance derive the greener energy transition: evidence from panel-corrected standard errors approach. Energy Econ 125:106881. https://doi.org/10.1016/j.eneco.2023.106881CrossRef

Ye X, Rasoulinezhad E (2023) Assessment of impacts of green bonds on renewable energy utilization efficiency. Renew Energy 202:626–633CrossRef

Yoshino N, Rasoulinezhad E, Taghizadeh-Hesary F (2021) Economic impacts of carbon tax in a general equilibrium framework: empirical study of Japan. JEAPM 23(01):2250014. https://doi.org/10.1142/S1464333222500144CrossRef

Zeqiraj V, Sohaq K, Hammoudeh S (2022) Financial inclusion in developing countries: do quality institutions matter? J Int Financ Mark Inst Money 81:101677. https://doi.org/10.1016/j.intfin.2022.101677CrossRef

Zhang S, Shinwari R, Zhao S, Dagestani A (2023) Energy transition, geopolitical risk, and natural resources extraction: a novel perspective of energy transition and resources extraction. Resour Policy 83:103608. https://doi.org/10.1016/j.resourpol.2023.103608CrossRef

Zhao L, Rasoulinezhad E (2023) Role of natural resources utilization efficiency in achieving green economic recovery: evidence from BRICS countries. Resour Policy 80:103164CrossRef

Zhao X, Samour A, AlGhazali A, Wang W, Chen G (2023) Exploring the impacts of natural resources, and financial development on green energy: novel findings from top natural resources abundant economies. Resour Policy 83:103639. https://doi.org/10.1016/j.resourpol.2023.103639CrossRef

Title: Greening the bottom line: navigating legal and financial dimensions of energy digital transition in the modern economy
Authors: Xiangyi Xu
Qianrong Wang
Publication date: 01-04-2024
Publisher: Springer US
Published in: Economic Change and Restructuring / Issue 2/2024
Print ISSN: 1573-9414
Electronic ISSN: 1574-0277
DOI: https://doi.org/10.1007/s10644-024-09619-8

Springer Professional

Abstract

Please log in to get access to your license.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Other articles of this Issue 2/2024

Green energy adoption in ASEAN+6 countries: policy and legal insights for sustainable development

Sustainable development through structural transformation: a pathway to economic, social, and environmental progress

Does trade policy uncertainty in China and USA matter for key financial markets?

Toward a greener energy transition: examining the effects of circular economy and carbon footprint for sustainable development

Dynamic connectedness of economic policy uncertainty in G7 countries and the influence of the USA and UK on non-G7 countries

Examining the impact of global uncertainty shocks on the digital economy's role in China's energy transition and green economic recovery

Premium Partner