Finance-Renewable Energy Nexus: A Multidimensional Decomposition of Financial Development Approach

This study uses the panel quantile regression (PQR) technique to examine the effects of different aspects of financial development (FD) on renewable energy consumption (REC) from 1995 to 2022 in selected SSA countries. The results indicate that various facets of FD influence REC across different quantiles. For example, institution-related variables have a more positive impact on REC compared to market indices.