Nexus between financial development and energy poverty in Latin America

This paper estimates the association of financial development with energy poverty in Latin America through the entropy method, the Principal Component Analysis (PCA), and an econometric analysis. Energy poverty scores of Latin American countries are less than unitary, making up for 17.54 percent, wh...

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Bibliographic Details
Published in:Energy policy Vol. 165; p. 112925
Main Authors: Mohsin, Muhammad, Taghizadeh-Hesary, Farhad, Shahbaz, Muhammad
Format: Journal Article
Language:English
Published: Kidlington Elsevier Ltd 01.06.2022
Elsevier Science Ltd
Subjects:
Development policy
Econometrics
Economic development
energy
Energy consumption
Energy development
Energy policy
Energy poverty
Energy security
Entropy
Financial development
Latin America
Poverty
Principal component analysis
Principal components analysis
Quantiles
Residents
Latin America
Energy security
Financial development
Energy poverty
Principal component analysis
Latin America
ISSN:0301-4215, 1873-6777
Online Access:Get full text
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Summary:This paper estimates the association of financial development with energy poverty in Latin America through the entropy method, the Principal Component Analysis (PCA), and an econometric analysis. Energy poverty scores of Latin American countries are less than unitary, making up for 17.54 percent, which implies that 17.45 percent of the residents did not attain the efficiency frontier of adequate energy consumption. Within all quantiles, the results elucidate that increases in energy poverty are attributed to low levels of financial development. The study provides policy recommendations for energy poverty alleviation through financial development. •We analysed the association of multidimensional energy poverty and financial advancement in the Latin American region.•Financial development and FDI as the key variables in alleviating energy poverty.•Energy poverty scores of Latin American countries are less than unitary.•17.45 percent of the residents did not attain the efficiency frontier of adequate energy consumption.•Increases in energy poverty are attributed to low levels of financial development.
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ISSN:0301-4215
1873-6777
DOI:10.1016/j.enpol.2022.112925