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Role of financial inclusion and green resources for alleviating energy poverty in the Republic of Korea

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  • Zhao, Weiping
  • Sun, Xiaomei
  • Jiang, Dayang

Abstract

Energy poverty has become a severe challenge to countries, and policymakers are trying to implement different policies to overcome the challenge of energy poverty. This paper primarily explores the nexus between financial inclusion, green energy resource deployment, and energy resource poverty in the Republic of Korea. To this end, the annual data from 1990 to 2021 are gathered and analyzed through the ARDL (Autoregressive Distributed Lag) technique. According to the empirical findings, financial inclusion positively reduces energy poverty in the short term. Sustainable energy resource consumption significantly affects energy poverty alleviation in the short and long term. The electricity tariff is the factor that aggravates energy poverty in the short and long term. The paper has new insights for scholars and recommends green financing of sustainable power generation, establishing the elderly financial inclusion system, and planning at the regional level for policymakers.

Suggested Citation

  • Zhao, Weiping & Sun, Xiaomei & Jiang, Dayang, 2023. "Role of financial inclusion and green resources for alleviating energy poverty in the Republic of Korea," Resources Policy, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:jrpoli:v:82:y:2023:i:c:s0301420723002131
    DOI: 10.1016/j.resourpol.2023.103505
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    More about this item

    Keywords

    Energy resource poverty; Financial inclusion; Sustainable energy deployment; Republic of Korea; ARDL technique;
    All these keywords.

    JEL classification:

    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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