چكيده به لاتين
Energy, as one of the important inputs of production, has a special place in the economic development of any country. The limited energy resources in the world, necessitates the optimal use of energy resources in the process of economic development. Adequate access to energy, effective fiscal policies, and economic growth are needed to achieve sustainable development. The financial operating system is another factor that has a significant impact on the economic growth and development of countries and can provide a suitable environment for innovation and technological progress by guiding financial resources to enterprises and affect energy consumption. Financial development can help producers achieve advanced technologies by providing low-cost financial resources. Therefore, with the improvement of the production process due to the use of superior technologies, the demand for energy, and of course its consumption, will decrease.In this study, PMG method has been used to investigate the effect of financial development on energy consumption in selected developing countries. In this study, 17 developing countries were surveyed during the years 2017-1990. These countries include Iran, Qatar, Turkey, Indonesia, Venezuela, Algeria, Angola, Ecuador, Kuwait, Saudi Arabia, Libya, Nigeria, the UAE, the Czech Republic, Finland, Hungary and Mexico. The results obtained from the estimation of the models show the positive effect of GDP per capita, financial development index and the negative effect of energy prices on energy consumption. Therefore, it can be concluded that with the growth of financial development (in the banking sector), energy consumption will increase.
