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Does financial inclusion improve energy accessibility in Sub-Saharan Africa?
Södertörn University, School of Social Sciences, Economics. Stockholm School of Economics, Sweden.ORCID iD: 0000-0003-0573-5287
2024 (English)In: Applied Economics, ISSN 0003-6846, E-ISSN 1466-4283, Vol. 56, no 49, p. 5789-5807Article in journal (Refereed) Published
Abstract [en]

We examine the nexus between financial inclusion and energy poverty. Analysing data for 27 energy-poor countries in the Sub-Saharan Africa region over 2004–2021, we employ sequential (two-stage), panel-corrected standard error (PCSE) and two-step dynamic system GMM (generalized method of moments) regression models, and control for endogeneity, CSD, slope heterogeneity as well as stationarity and cointegration patterns of the variables. Our empirical results show that financial inclusion significantly reduces energy poverty in the selected energy-poor countries. The study also finds a positive significant association between energy access and GDP per capita, while oil price and energy intensity are inversely associated with energy access. The results are robust to different control variables, estimation methods and subsamples. These findings have strong policy implications for energy-poor countries and point to the need for appropriate policies to promote financial inclusion for reducing energy poverty.

Place, publisher, year, edition, pages
Routledge, 2024. Vol. 56, no 49, p. 5789-5807
Keywords [en]
cross-sectional dependence, energy poverty, Financial inclusion, GMM estimation, panel data
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-52596DOI: 10.1080/00036846.2023.2270227ISI: 001087144700001Scopus ID: 2-s2.0-85174410513OAI: oai:DiVA.org:sh-52596DiVA, id: diva2:1808893
Funder
Swedish Energy AgencyAvailable from: 2023-11-01 Created: 2023-11-01 Last updated: 2024-09-17Bibliographically approved

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Bali Swain, Ranjula

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • harvard-anglia-ruskin-university
  • apa-old-doi-prefix.csl
  • sodertorns-hogskola-harvard.csl
  • sodertorns-hogskola-oxford.csl
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf