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The Impact of Financialization and Digital Structures on Renewable Energy Integration in ASEAN-5 Countries

In: Global Investment Decisions in the Circular Economy

Author

Listed:
  • Ibrahim Nandom Yakubu

    (University for Development Studies, School of Business)

  • Ayhan Kapusuzoglu

    (Ankara Yildirim Beyazit University, Faculty of Business)

  • Nildag Basak Ceylan

    (Ankara Yildirim Beyazit University, Faculty of Business)

Abstract

This study investigates the impact of financialization (FIN) and digital structures on renewable energy (REN) consumption in the ASEAN-5 countries from 1990 to 2022. The study controls for economic growth (ECG) and applies the fixed effects (FE) model based on Hausman test results. The findings reveal that financialization significantly reduces REN consumption, while mobile cellular subscriptions (MCS) also negatively impact the demand for renewable energy. However, internet usage (INT) shows no significant effect on renewable energy adoption. Economic growth is found to further diminish REN consumption. These results highlight the need for policy measures that align financial sector growth and digital infrastructure with renewable energy goals to ensure a sustainable energy transition in the region. The study contributes to both literature and policy on renewable energy integration in developing economies.

Suggested Citation

  • Ibrahim Nandom Yakubu & Ayhan Kapusuzoglu & Nildag Basak Ceylan, 2025. "The Impact of Financialization and Digital Structures on Renewable Energy Integration in ASEAN-5 Countries," Contributions to Economics, in: Serhat Yüksel & Hasan Dinçer & Muhammet Deveci (ed.), Global Investment Decisions in the Circular Economy, chapter 0, pages 275-288, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-86236-6_20
    DOI: 10.1007/978-3-031-86236-6_20
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