The relationship between energy industry progressing and financial support

Author(s): Wensheng Wang , Jia Guo

This paper examined the relationship among financial structure and scale, energy consumption and energy industry output growth on the basis of panel data during the period of 2002-2012 in Chinese energy industry. The empirical analysis shows that the expansion of financing scale benefits energy industry output growth, however, the financing openness degree is constantly declining. And there are obvious differences among financing channels in terms of energy consumption and industrial output contribution. Not only will the domestic loan fail to dramatically promote energy industry output growth, but also it will increase the energy consumption. However, foreign capital could have both two benefits. In addition, issuing bond and stock in the capital market will improve the raising of contribution rate of self-financing for energy industry output growth

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