The Impact of Information and Communication Technology and Financial Development on Energy Consumption: A Dynamic Heterogeneous Panel Analysis for MENA Countries

Authors

  • Amal Dabbous Saint-Joseph University

Abstract

This study investigates the impact of information and communication technology (ICT) and financial development on energy consumption for a panel of 11 MENA countries, for the period between 1995 and 2014. Unlike previous studies, this study uses principal component analysis to construct an index for ICT. In addition, the dynamic panel data model is estimated using heterogeneous panel estimation technique that accounts for cross-sectional dependence. The results reveal that there is a positive statistical significant relationship between ICT index and energy consumption. However, financial development did not appear to have an impact on energy consumption. We conclude that while ICT use increases energy consumption, financial markets development did not contribute to the increase in energy consumption. Finally, some policy implications relevant to our empirical results are discussed such as the need for policy makers to formulate appropriate and effective energy conservation policies, as well as to encourage the adoption of more energy saving devices that accompany the increase in the use of ICT in the MENA region.

Keywords: ICT, Financial Development, Energy Consumption, MENA Countries.

JEL Classifications : Q43, O13, O16, O33, C21

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Author Biography

Amal Dabbous, Saint-Joseph University

Amal Dabbous received her PhD in Economics from Concordia University, Canada. She has a solid academic background in Economics, Finance and Econometrics, in addition to practical research and teaching experience from teaching various courses for all levels (graduate and undergraduate) both in Canada and Lebanon. She is currently an Assistant Professor at the Business and Management School at the Saint-Joseph University in Lebanon. Her Research interests are: Financial economics, energy economics, commodity market, industrial organization, market concentration and efficiency, information and communication technology.

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Published

2018-07-16

How to Cite

Dabbous, A. (2018). The Impact of Information and Communication Technology and Financial Development on Energy Consumption: A Dynamic Heterogeneous Panel Analysis for MENA Countries. International Journal of Energy Economics and Policy, 8(4), 70–76. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/6559

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Articles