Aging, Urbanization, and Energy Intensity based on Cross-national Panel Data

On the basis of an unbalanced cross-national panel, this study employs the two-way fix-effects model to investigate the impact and effects of aging and urbanization on energy intensity. Estimation results show that aging has a negative effect on energy intensity, whereas urbanization has a positive effect on energy intensity. Empirical results also show that GDP per capita, overall productivity, and energy price have significant negative impacts on energy intensity. In addition, we find no empirical evidence of the general influence of foreign direct investment (FDI) on energy intensity. In the comparison of the classification of developed and developing countries, we further validate the previous results. Thus, this study provides a reference for governments in reducing energy intensity and improving governance.